Six Circles Tax Aware Ultra Short Duration Fund (CUTAX)
The investment seeks to generate current income consistent with capital preservation. Under normal circumstances, the fund invests at least 50% of its total assets in municipal securities, the income from which is exempt from federal income tax. It also may invest in taxable instruments. While the fund may invest in securities with various maturities, under normal market conditions, it will seek to maintain an average effective portfolio duration of one year or less.
Fund Info
| ISIN | US83002G2075 |
|---|---|
| Issuer | Six Circles |
| Inception Date | Jul 8, 2018 |
| Category | Ultrashort Bond |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
CUTAX has an expense ratio of 0.15%, which is considered low compared to other funds.
Share Price Chart
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Popular comparisons: CUTAX vs. CGJIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Six Circles Tax Aware Ultra Short Duration Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Six Circles Tax Aware Ultra Short Duration Fund had a return of 3.33% year-to-date (YTD) and 4.31% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 3.33% | 25.48% |
| 1 month | 0.20% | 2.14% |
| 6 months | 2.11% | 12.76% |
| 1 year | 4.31% | 33.14% |
| 5 years (annualized) | 1.74% | 13.96% |
| 10 years (annualized) | N/A | 11.39% |
Monthly Returns
The table below presents the monthly returns of CUTAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.28% | 0.18% | 0.30% | 0.11% | 0.41% | 0.41% | 0.50% | 0.58% | 0.31% | 0.00% | 3.33% | ||
| 2023 | 0.38% | -0.10% | 0.66% | 0.03% | 0.14% | 0.37% | 0.26% | 0.29% | 0.08% | 0.35% | 0.81% | 0.55% | 3.87% |
| 2022 | -0.27% | -0.17% | -0.45% | -0.06% | 0.26% | -0.15% | 0.00% | -0.18% | -0.28% | 0.17% | 0.35% | 0.35% | -0.45% |
| 2021 | 0.06% | 0.05% | -0.02% | 0.05% | 0.00% | -0.05% | 0.05% | 0.04% | -0.06% | -0.06% | -0.07% | 0.04% | 0.03% |
| 2020 | 0.31% | 0.11% | -0.61% | 0.26% | 0.69% | 0.36% | 0.19% | 0.18% | -0.02% | 0.07% | 0.07% | 0.18% | 1.80% |
| 2019 | 0.24% | 0.14% | 0.18% | 0.29% | 0.08% | 0.19% | 0.25% | 0.05% | 0.12% | 0.13% | 0.13% | 0.13% | 1.95% |
| 2018 | 0.00% | 0.12% | 0.13% | 0.05% | 0.05% | 0.05% | 0.40% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of CUTAX is 99, placing it in the top 1% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Six Circles Tax Aware Ultra Short Duration Fund (CUTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Six Circles Tax Aware Ultra Short Duration Fund provided a 3.40% dividend yield over the last twelve months, with an annual payout of $0.34 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.34 | $0.28 | $0.15 | $0.05 | $0.14 | $0.19 | $0.06 |
Dividend yield | 3.40% | 2.86% | 1.48% | 0.53% | 1.38% | 1.94% | 0.61% |
Monthly Dividends
The table displays the monthly dividend distributions for Six Circles Tax Aware 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.29 | |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.01 | $0.28 |
| 2022 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.02 | $0.01 | $0.06 | $0.15 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 |
| 2020 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.03 | $0.14 |
| 2019 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.19 |
| 2018 | $0.01 | $0.01 | $0.00 | $0.01 | $0.02 | $0.06 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Six Circles Tax Aware 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 Tax Aware Ultra Short Duration Fund was 1.51%, occurring on Sep 29, 2022. Recovery took 112 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -1.51% | May 27, 2021 | 339 | Sep 29, 2022 | 112 | Mar 13, 2023 | 451 |
| -1.4% | Mar 10, 2020 | 9 | Mar 20, 2020 | 41 | May 19, 2020 | 50 |
| -0.2% | May 17, 2023 | 5 | May 23, 2023 | 8 | Jun 5, 2023 | 13 |
| -0.12% | Sep 25, 2023 | 4 | Sep 28, 2023 | 8 | Oct 10, 2023 | 12 |
| -0.1% | Oct 22, 2024 | 7 | Oct 30, 2024 | 9 | Nov 12, 2024 | 16 |
Volatility
Volatility Chart
The current Six Circles Tax Aware Ultra Short Duration Fund volatility is 0.20%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.