CUSDX vs. DFYGX

Last updated Apr 1, 2026

Compare and contrast key facts about Six Circles Ultra Short Duration Fund (CUSDX) and DFA Two-Year Government Portfolio (DFYGX).

CUSDX is managed by Six Circles. It was launched on Jul 9, 2018. DFYGX is managed by Dimensional. It was launched on Jun 6, 1996.

Performance

CUSDX vs. DFYGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Six Circles Ultra Short Duration Fund (CUSDX) and DFA Two-Year Government Portfolio (DFYGX). The values are adjusted to include any dividend payments, if applicable.

CUSDX vs. DFYGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CUSDX Six Circles Ultra Short Duration Fund	0.25%	3.64%	5.96%	5.13%	-0.64%	0.04%	2.06%	0.87%	-0.30%
DFYGX DFA Two-Year Government Portfolio	0.88%	2.16%	5.15%	5.00%	-3.02%	-0.51%	0.38%	2.20%	1.08%

Returns By Period

In the year-to-date period, CUSDX achieves a 0.25% return, which is significantly lower than DFYGX's 0.88% return.

CUSDX

• 1D: -0.30%
• 1M: -0.40%
• YTD: 0.25%
• 6M: 1.42%
• 1Y: 4.00%
• 3Y*: 4.55%
• 5Y*: 2.81%
• 10Y*: —

DFYGX

• 1D: 0.04%
• 1M: 0.25%
• YTD: 0.88%
• 6M: 1.90%
• 1Y: 2.85%
• 3Y*: 3.99%
• 5Y*: 1.89%
• 10Y*: 1.38%

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

CUSDX vs. DFYGX - Expense Ratio Comparison

CUSDX has a 0.18% expense ratio, which is higher than DFYGX's 0.17% 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%.

CUSDX

Six Circles Ultra Short Duration Fund

DFYGX

DFA Two-Year Government Portfolio

Return for Risk

CUSDX vs. DFYGX — Risk / Return Rank

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

CUSDX

CUSDX Risk / Return Rank: 99
CUSDX Sharpe Ratio Rank: 99
CUSDX Sortino Ratio Rank: 99
CUSDX Omega Ratio Rank: 99
CUSDX Calmar Ratio Rank: 99
CUSDX Martin Ratio Rank: 99

DFYGX

DFYGX Risk / Return Rank: 86
DFYGX Sharpe Ratio Rank: 96
DFYGX Sortino Ratio Rank: 92
DFYGX Omega Ratio Rank: 100
DFYGX Calmar Ratio Rank: 83
DFYGX Martin Ratio Rank: 58

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.

CUSDX vs. DFYGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Six Circles Ultra Short Duration Fund (CUSDX) and DFA Two-Year Government Portfolio (DFYGX). 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.

	CUSDX	DFYGX	Difference
Sharpe ratio Return per unit of total volatility	4.10	2.38	+1.71
Sortino ratio Return per unit of downside risk	6.47	2.73	+3.74
Omega ratio Gain probability vs. loss probability	3.17	3.66	-0.49
Calmar ratio Return relative to maximum drawdown	7.39	2.02	+5.38
Martin ratio Return relative to average drawdown	33.07	5.58	+27.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUSDX vs. DFYGX - Sharpe Ratio Comparison

The current CUSDX Sharpe Ratio is 4.10, which is higher than the DFYGX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of CUSDX and DFYGX, 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

	CUSDX	DFYGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.10	2.38	+1.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.77	1.56	+1.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.26	1.85	+0.42

Correlation

The correlation between CUSDX and DFYGX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CUSDX vs. DFYGX - Dividend Comparison

CUSDX's dividend yield for the trailing twelve months is around 3.94%, more than DFYGX's 2.81% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CUSDX Six Circles Ultra Short Duration Fund	3.94%	3.28%	4.76%	3.25%	1.70%	0.84%	1.63%	0.67%	0.00%	0.00%	0.00%	0.00%
DFYGX DFA Two-Year Government Portfolio	2.81%	2.04%	4.84%	3.07%	1.14%	0.00%	0.27%	1.87%	1.82%	1.01%	0.58%	0.49%

Drawdowns

CUSDX vs. DFYGX - Drawdown Comparison

The maximum CUSDX drawdown since its inception was -1.99%, smaller than the maximum DFYGX drawdown of -4.46%. Use the drawdown chart below to compare losses from any high point for CUSDX and DFYGX.

Drawdown Indicators

	CUSDX	DFYGX	Difference
Max Drawdown Largest peak-to-trough decline	-1.99%	-4.46%	+2.47%
Max Drawdown (1Y) Largest decline over 1 year	-0.40%	-1.04%	+0.64%
Max Drawdown (5Y) Largest decline over 5 years	-1.99%	-4.36%	+2.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-4.46%	—
Current Drawdown Current decline from peak	-0.40%	0.00%	-0.40%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.30%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.38%	-0.27%

Volatility

CUSDX vs. DFYGX - Volatility Comparison

Six Circles Ultra Short Duration Fund (CUSDX) has a higher volatility of 0.40% compared to DFA Two-Year Government Portfolio (DFYGX) at 0.15%. This indicates that CUSDX's price experiences larger fluctuations and is considered to be riskier than DFYGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUSDX	DFYGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	0.15%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	0.80%	0.41%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	0.99%	1.22%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.02%	1.22%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.96%	1.00%	-0.04%