CMEUX vs. WFSPX
CMEUX (Six Circles Managed Equity Portfolio U.S. Unconstrained Fund) and WFSPX (iShares S&P 500 Index Fund Class K) are both mutual funds - CMEUX is a Large Cap Blend Equities fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, CMEUX returned 12.63%/yr vs 13.11%/yr for WFSPX. With a 0.96 correlation, they move nearly in lockstep. CMEUX charges 0.07%/yr vs 0.03%/yr for WFSPX.
Performance
CMEUX vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, CMEUX achieves a 7.79% return, which is significantly lower than WFSPX's 8.19% return.
CMEUX
- 1D
- -1.43%
- 1M
- -1.69%
- YTD
- 7.79%
- 6M
- 6.56%
- 1Y
- 23.08%
- 3Y*
- 21.08%
- 5Y*
- 12.63%
- 10Y*
- —
WFSPX
- 1D
- -1.43%
- 1M
- -1.34%
- YTD
- 8.19%
- 6M
- 6.86%
- 1Y
- 22.29%
- 3Y*
- 20.77%
- 5Y*
- 13.11%
- 10Y*
- 15.51%
CMEUX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund | 7.79% | 18.38% | 24.94% | 29.09% | -20.29% | 26.65% | 29.12% | 12.13% |
WFSPX iShares S&P 500 Index Fund Class K | 8.19% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 12.75% |
Correlation
The correlation between CMEUX and WFSPX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019 | 0.96 |
The correlation between CMEUX and WFSPX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
CMEUX vs. WFSPX — Risk / Return Rank
CMEUX
WFSPX
CMEUX vs. WFSPX - 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 S&P 500 Index Fund Class K (WFSPX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMEUX | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.67 | -0.06 |
| Martin ratioReturn relative to average drawdown | 11.00 | 11.99 | -0.99 |
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Drawdowns
CMEUX vs. WFSPX - Drawdown Comparison
The maximum CMEUX drawdown since its inception was -28.39%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for CMEUX and WFSPX.
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Drawdown Indicators
| CMEUX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.39% | -58.21% | +29.82% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -8.90% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -19.91% | -18.74% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -24.51% | -1.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.74% | — |
Current DrawdownCurrent decline from peak | -3.82% | -3.13% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -12.76% | +7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.98% | +0.27% |
Volatility
CMEUX vs. WFSPX - Volatility Comparison
Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (CMEUX) has a higher volatility of 5.29% compared to iShares S&P 500 Index Fund Class K (WFSPX) at 4.90%. This indicates that CMEUX's price experiences larger fluctuations and is considered to be riskier than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMEUX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 4.90% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.32% | 9.93% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.03% | 12.56% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.06% | 16.98% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.97% | 18.04% | +1.93% |
CMEUX vs. WFSPX - Expense Ratio Comparison
CMEUX has a 0.07% expense ratio, which is higher than WFSPX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CMEUX vs. WFSPX - Dividend Comparison
CMEUX's dividend yield for the trailing twelve months is around 0.94%, less than WFSPX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMEUX Six Circles Managed Equity Portfolio U.S. Unconstrained Fund | 0.94% | 1.01% | 1.02% | 1.16% | 1.52% | 4.12% | 3.33% | 1.72% | 0.00% | 0.00% | 0.00% | 0.00% |
WFSPX iShares S&P 500 Index Fund Class K | 1.61% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
With a correlation of 0.98, CMEUX and WFSPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CMEUX has higher volatility (5.29%) compared to WFSPX (4.90%). In terms of maximum drawdown, CMEUX dropped -28.39% vs WFSPX's -58.21%.
CMEUX currently has the higher Sharpe Ratio (1.91 vs 1.90), 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.
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