CBUDX vs. CUTAX

Last updated Jun 4, 2026

CBUDX (CrossingBridge Ultra-Short Duration Fund) and CUTAX (Six Circles Tax Aware Ultra Short Duration Fund) are both Ultrashort Bond funds. Over the past 3 years, CBUDX returned 5.39%/yr vs 3.88%/yr for CUTAX. At a 0.07 correlation, their price movements are largely independent. CBUDX charges 0.89%/yr vs 0.15%/yr for CUTAX.

Performance

CBUDX vs. CUTAX - Performance Comparison

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

Returns By Period

In the year-to-date period, CBUDX achieves a 1.54% return, which is significantly higher than CUTAX's 1.44% return.

CBUDX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.54%
• 6M: 2.19%
• 1Y: 4.64%
• 3Y*: 5.39%
• 5Y*: —
• 10Y*: —

CUTAX

• 1D: 0.20%
• 1M: 0.74%
• YTD: 1.44%
• 6M: 1.76%
• 1Y: 3.64%
• 3Y*: 3.88%
• 5Y*: 2.35%
• 10Y*: —

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

CBUDX vs. CUTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CBUDX CrossingBridge Ultra-Short Duration Fund	1.54%	5.25%	5.83%	5.61%	2.25%	0.26%
CUTAX Six Circles Tax Aware Ultra Short Duration Fund	1.44%	3.69%	3.74%	3.86%	-0.79%	-0.07%

Correlation

The correlation between CBUDX and CUTAX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.07

Return for Risk

CBUDX vs. CUTAX — Risk / Return Rank

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

CBUDX

CBUDX Risk / Return Rank: 99
CBUDX Sharpe Ratio Rank: 100
CBUDX Sortino Ratio Rank: 99
CBUDX Omega Ratio Rank: 100
CBUDX Calmar Ratio Rank: 99
CBUDX Martin Ratio Rank: 100

CUTAX

CUTAX Risk / Return Rank: 98
CUTAX Sharpe Ratio Rank: 97
CUTAX Sortino Ratio Rank: 98
CUTAX Omega Ratio Rank: 99
CUTAX Calmar Ratio Rank: 96
CUTAX Martin Ratio Rank: 98

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.

CBUDX vs. CUTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CrossingBridge Ultra-Short Duration Fund (CBUDX) 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.

	CBUDX	CUTAX	Difference
Sharpe ratio: Return per unit of total volatility	5.56	3.77	+1.79
Sortino ratio: Return per unit of downside risk	10.60	7.41	+3.19
Omega ratio: Gain probability vs. loss probability	4.55	3.01	+1.54
Calmar ratio: Return relative to maximum drawdown	11.64	6.07	+5.57
Martin ratio: Return relative to average drawdown	79.04	38.49	+40.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBUDX vs. CUTAX - Sharpe Ratio Comparison

The current CBUDX Sharpe Ratio is 5.56, which is higher than the CUTAX Sharpe Ratio of 3.77. The chart below compares the historical Sharpe Ratios of CBUDX and CUTAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBUDX	CUTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.56	3.77	+1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.61	1.87	+2.74

Drawdowns

CBUDX vs. CUTAX - Drawdown Comparison

The maximum CBUDX drawdown since its inception was -0.40%, smaller than the maximum CUTAX drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for CBUDX and CUTAX.

Drawdown Indicators

	CBUDX	CUTAX	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-1.79%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	-0.40%	-0.61%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-0.40%	-1.01%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-1.73%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.21%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.10%	-0.04%

Volatility

CBUDX vs. CUTAX - Volatility Comparison

The current volatility for CrossingBridge Ultra-Short Duration Fund (CBUDX) is 0.26%, while Six Circles Tax Aware Ultra Short Duration Fund (CUTAX) has a volatility of 0.66%. This indicates that CBUDX 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

	CBUDX	CUTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.26%	0.66%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	0.67%	0.83%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	0.84%	0.98%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.92%	1.06%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.92%	0.95%	-0.03%

CBUDX vs. CUTAX - Expense Ratio Comparison

CBUDX has a 0.89% expense ratio, which is higher than CUTAX's 0.15% expense ratio.

Dividends

CBUDX vs. CUTAX - Dividend Comparison

CBUDX's dividend yield for the trailing twelve months is around 4.45%, more than CUTAX's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CBUDX CrossingBridge Ultra-Short Duration Fund	4.45%	4.61%	5.68%	5.67%	2.94%	0.16%	0.00%	0.00%
CUTAX Six Circles Tax Aware Ultra Short Duration Fund	3.07%	3.22%	3.47%	2.86%	1.14%	0.52%	1.38%	0.48%

Frequently Asked Questions

Can I hold both CBUDX and CUTAX in my portfolio?

CBUDX and CUTAX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBUDX or CUTAX?

CUTAX has higher volatility (0.66%) compared to CBUDX (0.26%). In terms of maximum drawdown, CBUDX dropped -0.40% vs CUTAX's -1.79%.

Which has better risk-adjusted returns?

CBUDX currently has the higher Sharpe Ratio (5.56 vs 3.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.