BUBSX vs. CUTAX

Last updated Apr 1, 2026

Compare and contrast key facts about Baird Ultra Short Bond Fund (BUBSX) and Six Circles Tax Aware Ultra Short Duration Fund (CUTAX).

BUBSX is managed by Baird. It was launched on Dec 31, 2013. CUTAX is managed by Six Circles. It was launched on Jul 8, 2018.

Performance

BUBSX vs. CUTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Ultra Short Bond Fund (BUBSX) and Six Circles Tax Aware Ultra Short Duration Fund (CUTAX). The values are adjusted to include any dividend payments, if applicable.

BUBSX vs. CUTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BUBSX Baird Ultra Short Bond Fund	0.70%	4.53%	5.47%	5.43%	0.70%	-0.05%	1.66%	2.87%	0.84%
CUTAX Six Circles Tax Aware Ultra Short Duration Fund	0.18%	3.69%	3.74%	3.86%	-0.79%	0.02%	1.79%	0.49%	-0.20%

Returns By Period

In the year-to-date period, BUBSX achieves a 0.70% return, which is significantly higher than CUTAX's 0.18% return.

BUBSX

• 1D: 0.00%
• 1M: 0.13%
• YTD: 0.70%
• 6M: 1.69%
• 1Y: 4.08%
• 3Y*: 4.97%
• 5Y*: 3.31%
• 10Y*: 2.48%

CUTAX

• 1D: -0.20%
• 1M: -0.40%
• YTD: 0.18%
• 6M: 0.93%
• 1Y: 2.94%
• 3Y*: 3.50%
• 5Y*: 2.10%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BUBSX vs. CUTAX - Expense Ratio Comparison

BUBSX has a 0.40% expense ratio, which is higher than CUTAX's 0.15% expense ratio.

BUBSX

Baird Ultra Short Bond Fund

CUTAX

Six Circles Tax Aware Ultra Short Duration Fund

Return for Risk

BUBSX vs. CUTAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUBSX

BUBSX Risk / Return Rank: 100
BUBSX Sharpe Ratio Rank: 100
BUBSX Sortino Ratio Rank: 100
BUBSX Omega Ratio Rank: 100
BUBSX Calmar Ratio Rank: 100
BUBSX Martin Ratio Rank: 100

CUTAX

CUTAX Risk / Return Rank: 99
CUTAX Sharpe Ratio Rank: 99
CUTAX Sortino Ratio Rank: 98
CUTAX Omega Ratio Rank: 99
CUTAX Calmar Ratio Rank: 99
CUTAX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUBSX vs. CUTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Ultra Short Bond Fund (BUBSX) and Six Circles Tax Aware Ultra Short Duration Fund (CUTAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BUBSX	CUTAX	Difference
Sharpe ratio Return per unit of total volatility	6.30	3.33	+2.97
Sortino ratio Return per unit of downside risk	17.90	5.65	+12.25
Omega ratio Gain probability vs. loss probability	8.30	2.40	+5.91
Calmar ratio Return relative to maximum drawdown	41.37	7.51	+33.86
Martin ratio Return relative to average drawdown	223.49	39.18	+184.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUBSX vs. CUTAX - Sharpe Ratio Comparison

The current BUBSX Sharpe Ratio is 6.30, which is higher than the CUTAX Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of BUBSX and CUTAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BUBSX	CUTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.30	3.33	+2.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	4.42	2.06	+2.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	3.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.11	1.77	+1.34

Correlation

The correlation between BUBSX and CUTAX is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BUBSX vs. CUTAX - Dividend Comparison

BUBSX's dividend yield for the trailing twelve months is around 4.11%, more than CUTAX's 2.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUBSX Baird Ultra Short Bond Fund	4.11%	4.24%	5.04%	4.39%	1.29%	0.25%	1.14%	2.33%	1.90%	1.04%	0.81%	0.56%
CUTAX Six Circles Tax Aware Ultra Short Duration Fund	2.91%	3.22%	3.47%	2.86%	1.14%	0.52%	1.38%	0.48%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BUBSX vs. CUTAX - Drawdown Comparison

The maximum BUBSX drawdown since its inception was -1.88%, which is greater than CUTAX's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for BUBSX and CUTAX.

Drawdown Indicators

	BUBSX	CUTAX	Difference
Max Drawdown Largest peak-to-trough decline	-1.88%	-1.79%	-0.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.40%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-0.83%	-1.79%	+0.96%
Max Drawdown (10Y) Largest decline over 10 years	-1.88%	—	—
Current Drawdown Current decline from peak	0.00%	-0.40%	+0.40%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.22%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.08%	-0.06%

Volatility

BUBSX vs. CUTAX - Volatility Comparison

The current volatility for Baird Ultra Short Bond Fund (BUBSX) is 0.17%, while Six Circles Tax Aware Ultra Short Duration Fund (CUTAX) has a volatility of 0.38%. This indicates that BUBSX experiences smaller price fluctuations and is considered to be less risky than CUTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUBSX	CUTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	0.38%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	0.46%	0.63%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	0.65%	0.89%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	1.03%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.70%	0.93%	-0.23%