CMEUX vs. QUAL
Compare and contrast key facts about Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) and iShares MSCI USA Quality Factor ETF (QUAL).
CMEUX is managed by BlackRock. It was launched on Apr 10, 2019. QUAL is a passively managed fund by iShares that tracks the performance of the MSCI USA Sector Neutral Quality Index. It was launched on Jul 18, 2013.
Performance
CMEUX vs. QUAL - Performance Comparison
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CMEUX vs. QUAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund | -5.11% | 18.38% | 24.94% | 29.09% | -20.29% | 26.65% | 29.12% | 12.13% |
QUAL iShares MSCI USA Quality Factor ETF | -2.74% | 12.65% | 22.29% | 30.88% | -20.50% | 26.94% | 17.04% | 12.11% |
Returns By Period
In the year-to-date period, CMEUX achieves a -5.11% return, which is significantly lower than QUAL's -2.74% return.
CMEUX
- 1D
- 3.00%
- 1M
- -4.64%
- YTD
- -5.11%
- 6M
- -2.58%
- 1Y
- 18.45%
- 3Y*
- 18.68%
- 5Y*
- 11.52%
- 10Y*
- —
QUAL
- 1D
- 0.50%
- 1M
- -5.52%
- YTD
- -2.74%
- 6M
- -1.05%
- 1Y
- 13.65%
- 3Y*
- 17.10%
- 5Y*
- 10.71%
- 10Y*
- 12.99%
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CMEUX vs. QUAL - Expense Ratio Comparison
CMEUX has a 0.07% expense ratio, which is lower than QUAL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
CMEUX vs. QUAL — Risk / Return Rank
CMEUX
QUAL
CMEUX vs. QUAL - 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 iShares MSCI USA Quality Factor ETF (QUAL). 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 | QUAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 0.79 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.56 | 1.24 | +0.32 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.21 | +0.20 |
Martin ratioReturn relative to average drawdown | 6.33 | 5.50 | +0.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMEUX | QUAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.79 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.62 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.75 | 0.00 |
Correlation
The correlation between CMEUX and QUAL is 0.94, 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. QUAL - Dividend Comparison
CMEUX's dividend yield for the trailing twelve months is around 1.07%, more than QUAL's 0.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund | 1.07% | 1.01% | 1.02% | 1.16% | 1.52% | 4.12% | 3.33% | 1.72% | 0.00% | 0.00% | 0.00% | 0.00% |
QUAL iShares MSCI USA Quality Factor ETF | 0.98% | 0.94% | 1.02% | 1.23% | 1.59% | 1.20% | 1.39% | 1.60% | 2.00% | 1.76% | 1.96% | 1.63% |
Drawdowns
CMEUX vs. QUAL - Drawdown Comparison
The maximum CMEUX drawdown since its inception was -28.39%, smaller than the maximum QUAL drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for CMEUX and QUAL.
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Drawdown Indicators
| CMEUX | QUAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.39% | -34.06% | +5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -11.52% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -28.23% | +2.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.06% | — |
Current DrawdownCurrent decline from peak | -6.80% | -5.97% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -4.15% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 2.53% | +0.16% |
Volatility
CMEUX vs. QUAL - Volatility Comparison
Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) and iShares MSCI USA Quality Factor ETF (QUAL) have volatilities of 5.39% and 5.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMEUX | QUAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 5.36% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 9.30% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 17.46% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 17.34% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.12% | 18.08% | +2.04% |