CUSUX vs. VOOV

Last updated Jun 3, 2026

CUSUX (Six Circles U.S. Unconstrained Equity Fund) and VOOV (Vanguard S&P 500 Value ETF) are both funds - CUSUX is a Large Cap Blend Equities fund managed by Six Circles, while VOOV is a Large Cap Value Equities fund tracking the S&P 500 Value Index. Over the past 5 years, CUSUX returned 13.30%/yr vs 10.64%/yr for VOOV. Their correlation of 0.80 suggests significant overlap in exposure. CUSUX charges 0.05%/yr vs 0.10%/yr for VOOV.

Performance

CUSUX vs. VOOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Six Circles U.S. Unconstrained Equity Fund (CUSUX) and Vanguard S&P 500 Value ETF (VOOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CUSUX achieves a 8.88% return, which is significantly higher than VOOV's 7.51% return.

CUSUX

• 1D: 0.34%
• 1M: 5.71%
• YTD: 8.88%
• 6M: 9.30%
• 1Y: 28.18%
• 3Y*: 22.25%
• 5Y*: 13.30%
• 10Y*: —

VOOV

• 1D: -0.40%
• 1M: 2.22%
• YTD: 7.51%
• 6M: 7.76%
• 1Y: 21.33%
• 3Y*: 15.68%
• 5Y*: 10.64%
• 10Y*: 11.82%

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

CUSUX vs. VOOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CUSUX Six Circles U.S. Unconstrained Equity Fund	8.88%	19.35%	24.86%	30.38%	-21.28%	30.27%	22.69%	24.95%	-11.01%
VOOV Vanguard S&P 500 Value ETF	7.51%	13.10%	12.21%	22.15%	-5.37%	24.87%	1.23%	31.75%	-10.21%

Correlation

The correlation between CUSUX and VOOV is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018	0.80

The correlation between CUSUX and VOOV has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

CUSUX vs. VOOV — Risk / Return Rank

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

CUSUX

CUSUX Risk / Return Rank: 58
CUSUX Sharpe Ratio Rank: 69
CUSUX Sortino Ratio Rank: 62
CUSUX Omega Ratio Rank: 62
CUSUX Calmar Ratio Rank: 48
CUSUX Martin Ratio Rank: 52

VOOV

VOOV Risk / Return Rank: 65
VOOV Sharpe Ratio Rank: 64
VOOV Sortino Ratio Rank: 64
VOOV Omega Ratio Rank: 62
VOOV Calmar Ratio Rank: 67
VOOV Martin Ratio Rank: 69

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.

CUSUX vs. VOOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Six Circles U.S. Unconstrained Equity Fund (CUSUX) and Vanguard S&P 500 Value ETF (VOOV). 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.

	CUSUX	VOOV	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.18	+0.24
Sortino ratio Return per unit of downside risk	3.30	3.04	+0.26
Omega ratio Gain probability vs. loss probability	1.44	1.39	+0.05
Calmar ratio Return relative to maximum drawdown	2.67	3.42	-0.74
Martin ratio Return relative to average drawdown	10.78	13.04	-2.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUSUX vs. VOOV - Sharpe Ratio Comparison

The current CUSUX Sharpe Ratio is 2.42, which is comparable to the VOOV Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of CUSUX and VOOV, 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

	CUSUX	VOOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.18	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.74	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.75	-0.06

Drawdowns

CUSUX vs. VOOV - Drawdown Comparison

The maximum CUSUX drawdown since its inception was -35.55%, roughly equal to the maximum VOOV drawdown of -37.31%. Use the drawdown chart below to compare losses from any high point for CUSUX and VOOV.

Drawdown Indicators

	CUSUX	VOOV	Difference
Max Drawdown Largest peak-to-trough decline	-35.55%	-37.31%	+1.76%
Max Drawdown (1Y) Largest decline over 1 year	-11.01%	-6.27%	-4.74%
Max Drawdown (3Y) Largest decline over 3 years	-19.64%	-17.55%	-2.09%
Max Drawdown (5Y) Largest decline over 5 years	-35.55%	-18.10%	-17.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.31%	—
Current Drawdown Current decline from peak	0.00%	-0.52%	+0.52%
Average Drawdown Average peak-to-trough decline	-8.64%	-3.84%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.64%	+1.09%

Volatility

CUSUX vs. VOOV - Volatility Comparison

Six Circles U.S. Unconstrained Equity Fund (CUSUX) has a higher volatility of 2.62% compared to Vanguard S&P 500 Value ETF (VOOV) at 2.01%. This indicates that CUSUX's price experiences larger fluctuations and is considered to be riskier than VOOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUSUX	VOOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	2.01%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	7.06%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.01%	9.83%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.75%	14.45%	+6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.54%	16.95%	+4.59%

CUSUX vs. VOOV - Expense Ratio Comparison

CUSUX has a 0.05% expense ratio, which is lower than VOOV's 0.10% 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%.

Dividends

CUSUX vs. VOOV - Dividend Comparison

CUSUX's dividend yield for the trailing twelve months is around 8.43%, more than VOOV's 1.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CUSUX Six Circles U.S. Unconstrained Equity Fund	8.43%	9.18%	6.64%	1.19%	2.68%	16.48%	1.55%	1.67%	0.00%	0.00%	0.00%	0.00%
VOOV Vanguard S&P 500 Value ETF	1.68%	1.76%	2.10%	1.69%	2.19%	1.87%	2.45%	2.10%	2.65%	2.13%	2.24%	2.36%

Frequently Asked Questions

Can I hold both CUSUX and VOOV in my portfolio?

CUSUX and VOOV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CUSUX or VOOV?

CUSUX has higher volatility (2.62%) compared to VOOV (2.01%). In terms of maximum drawdown, CUSUX dropped -35.55% vs VOOV's -37.31%.

Which has better risk-adjusted returns?

CUSUX currently has the higher Sharpe Ratio (2.42 vs 2.18), 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.