- ISIN
- US83002G1085
- Issuer
- Six Circles
- Inception Date
- Jul 9, 2018
- Category
- Ultrashort Bond
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
CUSDX Performance Chart
Six Circles Ultra Short Duration Fund (CUSDX) is up 1.4% since the beginning of the year. CUSDX is currently trading at $10 per share. Investors who bought $1,000 worth of CUSDX shares 5 years ago would now be looking at an investment worth $1,160.
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Returns By Period
Six Circles Ultra Short Duration Fund (CUSDX) has returned 1.42% so far this year and 4.33% over the past 12 months.
Six Circles Ultra Short Duration Fund
- 1D
- 0.00%
- 1M
- 0.30%
- YTD
- 1.42%
- 6M
- 1.78%
- 1Y
- 4.33%
- 3Y*
- 4.77%
- 5Y*
- 3.01%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.64%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
CUSDX Monthly Returns History
Based on dividend-adjusted daily data since Jul 9, 2018, CUSDX's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 68% of months were positive and 32% were negative. The best month was Apr 2020 with a return of +0.8%, while the worst month was Mar 2020 at -1.3%. The longest winning streak lasted 26 consecutive months, and the longest losing streak was 8 months.
On a daily basis, CUSDX closed higher 18% of trading days. The best single day was Dec 23, 2024 with a return of +0.4%, while the worst single day was Apr 27, 2023 at -0.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.33% | 0.32% | 0.04% | 0.33% | 0.40% | 0.00% | 1.42% | ||||||
| 2025 | -0.00% | 0.00% | -0.10% | 0.38% | 0.37% | 0.47% | 0.36% | 0.57% | 0.36% | 0.35% | 0.36% | 0.45% | 3.64% |
| 2024 | 0.61% | 0.30% | 0.53% | 0.31% | 0.53% | 0.42% | 0.63% | 0.69% | 0.53% | 0.29% | 0.40% | 0.57% | 5.96% |
| 2023 | 0.67% | 0.16% | 0.43% | 0.10% | 0.35% | 0.46% | 0.57% | 0.49% | 0.41% | 0.00% | 0.72% | 0.65% | 5.13% |
| 2022 | -0.05% | -0.25% | -0.53% | -0.03% | 0.08% | -0.41% | 0.00% | 0.14% | -0.31% | -0.20% | 0.42% | 0.50% | -0.64% |
| 2021 | 0.20% | -0.04% | -0.01% | 0.07% | 0.10% | -0.05% | 0.05% | 0.05% | -0.10% | -0.15% | -0.06% | -0.03% | 0.04% |
Benchmark Metrics
Six Circles Ultra Short Duration Fund has an annualized alpha of 2.25%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since July 10, 2018.
- This fund captured 5.25% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.83%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.25%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 5.25%
- Downside Capture
- -1.83%
Expense Ratio
CUSDX has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
CUSDX ranks 99 for risk / return — in the top 99% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Six Circles Ultra Short Duration Fund (CUSDX) and compare them to S&P 500 Index.
| CUSDX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +5.77 | ||
| Omega ratioGain probability vs. loss probability | 4.02 | 1.36 | +2.65 |
| Calmar ratioReturn relative to maximum drawdown | 10.98 | 2.69 | +8.29 |
| Martin ratioReturn relative to average drawdown | 57.60 | 12.34 | +45.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Six Circles Ultra Short Duration Fund provided a 4.15% dividend yield over the last twelve months, with an annual payout of $0.42 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.33 | $0.48 | $0.32 | $0.17 | $0.08 | $0.16 | $0.07 |
Dividend yield | 4.15% | 3.28% | 4.76% | 3.25% | 1.70% | 0.84% | 1.63% | 0.67% |
Monthly Dividends
The table displays the monthly dividend distributions for Six Circles Ultra Short Duration Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.16 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.33 |
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.48 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.04 | $0.01 | $0.32 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.02 | $0.10 | $0.17 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.03 | $0.08 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Six Circles Ultra Short Duration Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Six Circles Ultra Short Duration Fund was 1.99%, occurring on Nov 3, 2022. Recovery took 86 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -1.99%Nov 2022 | 1y 1mo | 4mo 7d | 1y 5moSep 2021 - Mar 2023 |
COVID crash2020 | -1.90%Mar 2020 | 14d | 2mo 6d | 2mo 20dMar 2020 - May 2020 |
2025 selloff2025 | -0.80%Apr 2025 | 1mo 20d | 1mo 14d | 3mo 4dFeb 2025 - May 2025 |
2023 pullback2023 | -0.51%Oct 2023 | 1d | 21d | 22dOct 2023 - Nov 2023 |
2018 pullback2018 | -0.50%Dec 2018 | 3mo 5d | 2mo 17d | 5mo 22dSep 2018 - Mar 2019 |
Drawdown Indicators
| CUSDX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.99% | -56.78% | +54.79% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -9.10% | +8.70% |
Max Drawdown (3Y)Largest decline over 3 years | -0.80% | -18.90% | +18.10% |
Max Drawdown (5Y)Largest decline over 5 years | -1.99% | -25.43% | +23.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.97% | +2.97% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -10.72% | +10.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 1.97% | -1.89% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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