CUSUX vs. BKTSX
CUSUX (Six Circles U.S. Unconstrained Equity Fund) and BKTSX (iShares Total U.S. Stock Market Index Fund Class K) are both Large Cap Blend Equities funds. Over the past 5 years, CUSUX returned 12.10%/yr vs 12.00%/yr for BKTSX. With a 0.95 correlation, they move nearly in lockstep. CUSUX charges 0.05%/yr vs 0.02%/yr for BKTSX.
Performance
CUSUX vs. BKTSX - Performance Comparison
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Returns By Period
In the year-to-date period, CUSUX achieves a 5.15% return, which is significantly lower than BKTSX's 8.63% return.
CUSUX
- 1D
- -1.33%
- 1M
- -1.38%
- YTD
- 5.15%
- 6M
- 3.89%
- 1Y
- 21.38%
- 3Y*
- 20.53%
- 5Y*
- 12.10%
- 10Y*
- —
BKTSX
- 1D
- -1.32%
- 1M
- -0.85%
- YTD
- 8.63%
- 6M
- 7.18%
- 1Y
- 22.45%
- 3Y*
- 20.59%
- 5Y*
- 12.00%
- 10Y*
- 15.16%
CUSUX vs. BKTSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CUSUX Six Circles U.S. Unconstrained Equity Fund | 5.15% | 19.35% | 24.86% | 30.38% | -21.28% | 30.27% | 22.69% | 24.95% | -11.01% |
BKTSX iShares Total U.S. Stock Market Index Fund Class K | 8.63% | 17.15% | 23.83% | 26.02% | -19.05% | 25.56% | 20.82% | 31.12% | -12.10% |
Correlation
The correlation between CUSUX and BKTSX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2018 | 0.95 |
The correlation between CUSUX and BKTSX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
CUSUX vs. BKTSX — Risk / Return Rank
CUSUX
BKTSX
CUSUX vs. BKTSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Six Circles U.S. Unconstrained Equity Fund (CUSUX) and iShares Total U.S. Stock Market Index Fund Class K (BKTSX). 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.
| CUSUX | BKTSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.70 | -0.74 |
| Martin ratioReturn relative to average drawdown | 7.67 | 12.02 | -4.35 |
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Drawdowns
CUSUX vs. BKTSX - Drawdown Comparison
The maximum CUSUX drawdown since its inception was -35.55%, roughly equal to the maximum BKTSX drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for CUSUX and BKTSX.
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Drawdown Indicators
| CUSUX | BKTSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.55% | -34.97% | -0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -8.87% | -2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -19.64% | -19.29% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -35.55% | -24.98% | -10.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.97% | — |
Current DrawdownCurrent decline from peak | -3.71% | -2.77% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -4.51% | -4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 1.99% | +0.81% |
Volatility
CUSUX vs. BKTSX - Volatility Comparison
Six Circles U.S. Unconstrained Equity Fund (CUSUX) has a higher volatility of 5.16% compared to iShares Total U.S. Stock Market Index Fund Class K (BKTSX) at 4.89%. This indicates that CUSUX's price experiences larger fluctuations and is considered to be riskier than BKTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CUSUX | BKTSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 4.89% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 10.04% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 12.82% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.85% | 17.46% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.52% | 18.42% | +3.10% |
CUSUX vs. BKTSX - Expense Ratio Comparison
CUSUX has a 0.05% expense ratio, which is higher than BKTSX's 0.02% 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
CUSUX vs. BKTSX - Dividend Comparison
CUSUX's dividend yield for the trailing twelve months is around 8.73%, more than BKTSX's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BKTSX iShares Total U.S. Stock Market Index Fund Class K | 1.07% | 1.14% | 1.27% | 1.46% | 1.64% | 1.58% | 1.51% | 2.15% | 2.49% | 2.17% | 1.54% |
CUSUX Six Circles U.S. Unconstrained Equity Fund | 8.73% | 9.18% | 6.64% | 1.19% | 2.68% | 16.48% | 1.55% | 1.67% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, CUSUX and BKTSX 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.
CUSUX has higher volatility (5.16%) compared to BKTSX (4.89%). In terms of maximum drawdown, CUSUX dropped -35.55% vs BKTSX's -34.97%.
BKTSX currently has the higher Sharpe Ratio (1.88 vs 1.69), 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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