CIUEX vs. BRK-B

Last updated Jun 4, 2026

CIUEX (Six Circles International Unconstrained Equity Fund) is Foreign Large Cap Equities fund managed by Six Circles, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 5 years, CIUEX returned 9.30%/yr vs 10.20%/yr for BRK-B. A 0.50 correlation means they provide meaningful diversification when combined.

Performance

CIUEX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Six Circles International Unconstrained Equity Fund (CIUEX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIUEX achieves a 8.59% return, which is significantly higher than BRK-B's -5.43% return.

CIUEX

• 1D: 0.33%
• 1M: 4.08%
• YTD: 8.59%
• 6M: 12.09%
• 1Y: 21.28%
• 3Y*: 16.73%
• 5Y*: 9.30%
• 10Y*: —

BRK-B

• 1D: 0.82%
• 1M: 1.46%
• YTD: -5.43%
• 6M: -5.61%
• 1Y: -4.51%
• 3Y*: 13.00%
• 5Y*: 10.20%
• 10Y*: 12.91%

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

CIUEX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CIUEX Six Circles International Unconstrained Equity Fund	8.59%	34.22%	2.29%	18.98%	-13.67%	14.00%	5.75%	18.91%	-17.00%
BRK-B Berkshire Hathaway Inc.	-5.43%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.40%

Correlation

The correlation between CIUEX and BRK-B is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018	0.50

Over the past year, the correlation between CIUEX and BRK-B has dropped to 0.19 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

CIUEX vs. BRK-B — Risk / Return Rank

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

CIUEX

CIUEX Risk / Return Rank: 22
CIUEX Sharpe Ratio Rank: 21
CIUEX Sortino Ratio Rank: 21
CIUEX Omega Ratio Rank: 21
CIUEX Calmar Ratio Rank: 22
CIUEX Martin Ratio Rank: 27

BRK-B

BRK-B Risk / Return Rank: 23
BRK-B Sharpe Ratio Rank: 27
BRK-B Sortino Ratio Rank: 22
BRK-B Omega Ratio Rank: 23
BRK-B Calmar Ratio Rank: 24
BRK-B Martin Ratio Rank: 20

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.

CIUEX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Six Circles International Unconstrained Equity Fund (CIUEX) and Berkshire Hathaway Inc. (BRK-B). 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.

	CIUEX	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	1.31	-0.32	+1.63
Sortino ratio Return per unit of downside risk	1.91	-0.34	+2.25
Omega ratio Gain probability vs. loss probability	1.24	0.96	+0.28
Calmar ratio Return relative to maximum drawdown	1.73	-0.48	+2.21
Martin ratio Return relative to average drawdown	6.42	-1.02	+7.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIUEX vs. BRK-B - Sharpe Ratio Comparison

The current CIUEX Sharpe Ratio is 1.31, which is higher than the BRK-B Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of CIUEX and BRK-B, 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

	CIUEX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	-0.32	+1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.60	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.48	-0.06

Drawdowns

CIUEX vs. BRK-B - Drawdown Comparison

The maximum CIUEX drawdown since its inception was -37.39%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for CIUEX and BRK-B.

Drawdown Indicators

	CIUEX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-53.86%	+16.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.89%	-9.42%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.99%	-14.95%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	-26.58%	-3.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-1.12%	-11.94%	+10.82%
Average Drawdown Average peak-to-trough decline	-6.72%	-11.07%	+4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	4.57%	-1.37%

Volatility

CIUEX vs. BRK-B - Volatility Comparison

Six Circles International Unconstrained Equity Fund (CIUEX) has a higher volatility of 5.54% compared to Berkshire Hathaway Inc. (BRK-B) at 3.75%. This indicates that CIUEX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIUEX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	3.75%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	10.68%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.77%	14.33%	+1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	17.11%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	19.43%	-0.41%

Dividends

CIUEX vs. BRK-B - Dividend Comparison

CIUEX's dividend yield for the trailing twelve months is around 2.91%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CIUEX Six Circles International Unconstrained Equity Fund	2.91%	3.16%	3.25%	2.87%	3.14%	2.44%	1.59%	2.87%

Frequently Asked Questions

Can I hold both CIUEX and BRK-B in my portfolio?

CIUEX and BRK-B have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIUEX or BRK-B?

CIUEX has higher volatility (5.54%) compared to BRK-B (3.75%). In terms of maximum drawdown, CIUEX dropped -37.39% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

CIUEX currently has the higher Sharpe Ratio (1.31 vs -0.32), 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.