CMEUX vs. SCHW

Last updated Jun 3, 2026

CMEUX (Six Circles Managed Equity Portfolio U.S. Unconstrained Fund) is Large Cap Blend Equities fund managed by BlackRock, while SCHW (The Charles Schwab Corporation) is a stock. Over the past 5 years, CMEUX returned 14.20%/yr vs 4.26%/yr for SCHW. At a 0.47 correlation, their price movements are largely independent.

Performance

CMEUX vs. SCHW - 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 The Charles Schwab Corporation (SCHW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMEUX achieves a 11.78% return, which is significantly higher than SCHW's -11.70% return.

CMEUX

• 1D: 0.26%
• 1M: 5.85%
• YTD: 11.78%
• 6M: 11.81%
• 1Y: 31.69%
• 3Y*: 23.10%
• 5Y*: 14.20%
• 10Y*: —

SCHW

• 1D: -1.27%
• 1M: -3.95%
• YTD: -11.70%
• 6M: -4.18%
• 1Y: 0.69%
• 3Y*: 18.90%
• 5Y*: 4.26%
• 10Y*: 13.04%

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

CMEUX vs. SCHW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund	11.78%	18.38%	24.94%	29.09%	-20.29%	26.65%	29.12%	12.13%
SCHW The Charles Schwab Corporation	-11.70%	36.65%	9.17%	-15.97%	0.11%	60.23%	13.57%	5.46%

Correlation

The correlation between CMEUX and SCHW is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019	0.47

The correlation between CMEUX and SCHW shifts across timeframes, from 0.33 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMEUX vs. SCHW — Risk / Return Rank

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

CMEUX

CMEUX Risk / Return Rank: 78
CMEUX Sharpe Ratio Rank: 83
CMEUX Sortino Ratio Rank: 75
CMEUX Omega Ratio Rank: 75
CMEUX Calmar Ratio Rank: 76
CMEUX Martin Ratio Rank: 81

SCHW

SCHW Risk / Return Rank: 38
SCHW Sharpe Ratio Rank: 41
SCHW Sortino Ratio Rank: 34
SCHW Omega Ratio Rank: 34
SCHW Calmar Ratio Rank: 40
SCHW Martin Ratio Rank: 41

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. SCHW - 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 The Charles Schwab Corporation (SCHW). 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	SCHW	Difference
Sharpe ratio Return per unit of total volatility	2.68	0.03	+2.65
Sortino ratio Return per unit of downside risk	3.61	0.19	+3.42
Omega ratio Gain probability vs. loss probability	1.49	1.03	+0.46
Calmar ratio Return relative to maximum drawdown	3.46	0.02	+3.44
Martin ratio Return relative to average drawdown	15.32	0.05	+15.27
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. SCHW - Sharpe Ratio Comparison

The current CMEUX Sharpe Ratio is 2.68, which is higher than the SCHW Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of CMEUX and SCHW, 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

	CMEUX	SCHW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	0.03	+2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.13	+0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.42	+0.45

Drawdowns

CMEUX vs. SCHW - Drawdown Comparison

The maximum CMEUX drawdown since its inception was -28.39%, smaller than the maximum SCHW drawdown of -86.79%. Use the drawdown chart below to compare losses from any high point for CMEUX and SCHW.

Drawdown Indicators

	CMEUX	SCHW	Difference
Max Drawdown Largest peak-to-trough decline	-28.39%	-86.79%	+58.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-19.83%	+10.32%
Max Drawdown (3Y) Largest decline over 3 years	-19.91%	-27.11%	+7.20%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-49.70%	+24.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.08%	—
Current Drawdown Current decline from peak	0.00%	-17.71%	+17.71%
Average Drawdown Average peak-to-trough decline	-5.34%	-35.55%	+30.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	7.96%	-5.81%

Volatility

CMEUX vs. SCHW - Volatility Comparison

The current volatility for Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) is 2.79%, while The Charles Schwab Corporation (SCHW) has a volatility of 7.95%. This indicates that CMEUX experiences smaller price fluctuations and is considered to be less risky than SCHW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMEUX	SCHW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	7.95%	-5.16%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	19.70%	-10.47%
Volatility (1Y) Calculated over the trailing 1-year period	12.21%	23.92%	-11.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.94%	32.24%	-14.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	33.42%	-13.46%

Dividends

CMEUX vs. SCHW - Dividend Comparison

CMEUX's dividend yield for the trailing twelve months is around 0.91%, less than SCHW's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund	0.91%	1.01%	1.02%	1.16%	1.52%	4.12%	3.33%	1.72%	0.00%	0.00%	0.00%	0.00%
SCHW The Charles Schwab Corporation	1.35%	1.08%	1.35%	1.45%	1.01%	0.86%	1.36%	1.43%	1.11%	0.62%	0.68%	0.73%

Frequently Asked Questions

Can I hold both CMEUX and SCHW in my portfolio?

CMEUX and SCHW have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMEUX or SCHW?

SCHW has higher volatility (7.95%) compared to CMEUX (2.79%). In terms of maximum drawdown, CMEUX dropped -28.39% vs SCHW's -86.79%.

Which has better risk-adjusted returns?

CMEUX currently has the higher Sharpe Ratio (2.68 vs 0.03), 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.