CMEUX vs. ECAT

Last updated Apr 1, 2026

Compare and contrast key facts about Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) and BlackRock ESG Capital Allocation Term Trust (ECAT).

CMEUX is managed by BlackRock. It was launched on Apr 10, 2019. ECAT is managed by BlackRock. It was launched on Sep 28, 2021.

Performance

CMEUX vs. ECAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) and BlackRock ESG Capital Allocation Term Trust (ECAT). The values are adjusted to include any dividend payments, if applicable.

CMEUX vs. ECAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund	-7.87%	18.38%	24.94%	29.09%	-20.29%	9.38%
ECAT BlackRock ESG Capital Allocation Term Trust	-6.71%	16.64%	19.96%	32.36%	-21.90%	-6.25%

Returns By Period

In the year-to-date period, CMEUX achieves a -7.87% return, which is significantly lower than ECAT's -6.71% return.

CMEUX

• 1D: -0.45%
• 1M: -7.26%
• YTD: -7.87%
• 6M: -4.82%
• 1Y: 15.59%
• 3Y*: 17.52%
• 5Y*: 11.14%
• 10Y*: —

ECAT

• 1D: 1.49%
• 1M: -8.56%
• YTD: -6.71%
• 6M: -7.80%
• 1Y: 7.03%
• 3Y*: 13.21%
• 5Y*: —
• 10Y*: —

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

CMEUX vs. ECAT - Expense Ratio Comparison

CMEUX has a 0.07% expense ratio, which is lower than ECAT's 1.38% expense ratio.

ECAT

BlackRock ESG Capital Allocation Term Trust

CMEUX

Six Circles Managed Equity Portfolio U.S. Unconstrained Fund

Return for Risk

CMEUX vs. ECAT — Risk / Return Rank

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

CMEUX

CMEUX Risk / Return Rank: 46
CMEUX Sharpe Ratio Rank: 43
CMEUX Sortino Ratio Rank: 48
CMEUX Omega Ratio Rank: 52
CMEUX Calmar Ratio Rank: 41
CMEUX Martin Ratio Rank: 48

ECAT

ECAT Risk / Return Rank: 16
ECAT Sharpe Ratio Rank: 17
ECAT Sortino Ratio Rank: 16
ECAT Omega Ratio Rank: 16
ECAT Calmar Ratio Rank: 16
ECAT Martin Ratio Rank: 17

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.

CMEUX vs. ECAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) and BlackRock ESG Capital Allocation Term Trust (ECAT). 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.

	CMEUX	ECAT	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.42	+0.44
Sortino ratio Return per unit of downside risk	1.35	0.68	+0.67
Omega ratio Gain probability vs. loss probability	1.21	1.09	+0.11
Calmar ratio Return relative to maximum drawdown	1.04	0.47	+0.57
Martin ratio Return relative to average drawdown	4.77	1.75	+3.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMEUX vs. ECAT - Sharpe Ratio Comparison

The current CMEUX Sharpe Ratio is 0.86, which is higher than the ECAT Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of CMEUX and ECAT, 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

	CMEUX	ECAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.42	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.32	+0.41

Correlation

The correlation between CMEUX and ECAT is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CMEUX vs. ECAT - Dividend Comparison

CMEUX's dividend yield for the trailing twelve months is around 1.10%, less than ECAT's 25.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund	1.10%	1.01%	1.02%	1.16%	1.52%	4.12%	3.33%	1.72%
ECAT BlackRock ESG Capital Allocation Term Trust	25.39%	23.00%	17.44%	9.14%	8.94%	0.54%	0.00%	0.00%

Drawdowns

CMEUX vs. ECAT - Drawdown Comparison

The maximum CMEUX drawdown since its inception was -28.39%, smaller than the maximum ECAT drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for CMEUX and ECAT.

Drawdown Indicators

	CMEUX	ECAT	Difference
Max Drawdown Largest peak-to-trough decline	-28.39%	-32.23%	+3.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-12.90%	+0.81%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	—	—
Current Drawdown Current decline from peak	-9.51%	-10.48%	+0.97%
Average Drawdown Average peak-to-trough decline	-5.44%	-9.41%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.49%	-0.74%

Volatility

CMEUX vs. ECAT - Volatility Comparison

The current volatility for Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) is 4.27%, while BlackRock ESG Capital Allocation Term Trust (ECAT) has a volatility of 5.97%. This indicates that CMEUX experiences smaller price fluctuations and is considered to be less risky than ECAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMEUX	ECAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	5.97%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	10.34%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.79%	16.97%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.93%	16.95%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	16.95%	+3.15%