FUSIX vs. CMIUX

Last updated Aug 4, 2026

FUSIX (Strategic Advisers Fidelity International Fund) and CMIUX (Six Circles Managed Equity Portfolio International Unconstrained Fund) are both mutual funds - FUSIX is a Foreign Large Blend Equities fund actively managed by Fidelity, while CMIUX is a Europe Equities fund managed by Six Circles. Over the past 5 years, FUSIX returned 9.03%/yr vs 10.84%/yr for CMIUX. Their correlation of 0.92 means they have usually moved in the same direction. FUSIX charges 0.54%/yr vs 0.13%/yr for CMIUX.

Performance

FUSIX vs. CMIUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategic Advisers Fidelity International Fund (FUSIX) and Six Circles Managed Equity Portfolio International Unconstrained Fund (CMIUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FUSIX having a 12.09% return and CMIUX slightly lower at 11.95%.

FUSIX

• 1D: 2.73%
• 1M: 1.16%
• 6M: 5.90%
• YTD: 12.09%
• 1Y: 23.93%
• 3Y*: 16.84%
• 5Y*: 9.03%
• 10Y*: 9.91%
• ALL TIME*: 5.22%

CMIUX

• 1D: -0.43%
• 1M: 1.79%
• 6M: 5.22%
• YTD: 11.95%
• 1Y: 26.60%
• 3Y*: 16.56%
• 5Y*: 10.84%
• 10Y*: —
• ALL TIME*: 11.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CMIUX Six Circles Managed Equity Portfolio International Unconstrained Fund	$0.00	$0.00	$0.00
FUSIX Strategic Advisers Fidelity International Fund	$0.00	$0.00	$0.00

FUSIX vs. CMIUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FUSIX Strategic Advisers Fidelity International Fund	12.09%	31.20%	5.62%	18.15%	-17.74%	12.47%	13.24%	10.50%
CMIUX Six Circles Managed Equity Portfolio International Unconstrained Fund	11.95%	33.36%	2.63%	20.07%	-12.61%	19.72%	9.26%	4.62%

Correlation

The correlation between FUSIX and CMIUX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019	0.92

The correlation between FUSIX and CMIUX shifts across timeframes, from 0.81 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FUSIX vs. CMIUX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FUSIX

FUSIX Risk / Return Rank: 74
FUSIX Sharpe Ratio Rank: 72
FUSIX Sortino Ratio Rank: 74
FUSIX Omega Ratio Rank: 71
FUSIX Calmar Ratio Rank: 78
FUSIX Martin Ratio Rank: 77

CMIUX

CMIUX Risk / Return Rank: 63
CMIUX Sharpe Ratio Rank: 66
CMIUX Sortino Ratio Rank: 66
CMIUX Omega Ratio Rank: 62
CMIUX Calmar Ratio Rank: 62
CMIUX Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FUSIX vs. CMIUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Fidelity International Fund (FUSIX) and Six Circles Managed Equity Portfolio International Unconstrained Fund (CMIUX). 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.

	FUSIX	CMIUX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.67	-0.03
Sortino ratio: Return per unit of downside risk	2.44	2.38	+0.06
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.48	2.25	+0.24
Martin ratio: Return relative to average drawdown	9.10	8.30	+0.80

FUSIX vs. CMIUX - Sharpe Ratio Comparison

The current FUSIX Sharpe Ratio is 1.64, which is comparable to the CMIUX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of FUSIX and CMIUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FUSIX vs. CMIUX - Drawdown Comparison

The maximum FUSIX drawdown since its inception was -64.42%, which is greater than CMIUX's maximum drawdown of -36.83%. Use the drawdown chart below to compare losses from any high point for FUSIX and CMIUX.

Drawdown Indicators

	FUSIX	CMIUX	Difference
Max Drawdown Largest peak-to-trough decline	-64.42%	-36.83%	-27.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-11.76%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-13.81%	-14.30%	+0.49%
Max Drawdown (5Y) Largest decline over 5 years	-31.34%	-29.49%	-1.85%
Max Drawdown (10Y) Largest decline over 10 years	-31.96%	—	—
Current Drawdown Current decline from peak	-0.24%	-0.43%	+0.19%
Average Drawdown Average peak-to-trough decline	-15.93%	-5.64%	-10.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.17%	-0.36%

Volatility

FUSIX vs. CMIUX - Volatility Comparison

Strategic Advisers Fidelity International Fund (FUSIX) has a higher volatility of 4.92% compared to Six Circles Managed Equity Portfolio International Unconstrained Fund (CMIUX) at 4.33%. This indicates that FUSIX's price experiences larger fluctuations and is considered to be riskier than CMIUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUSIX	CMIUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	4.33%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	13.69%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	15.87%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	17.89%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	19.66%	-3.58%

FUSIX vs. CMIUX - Expense Ratio Comparison

FUSIX has a 0.54% expense ratio, which is higher than CMIUX's 0.13% expense ratio.

Dividends

FUSIX vs. CMIUX - Dividend Comparison

FUSIX's dividend yield for the trailing twelve months is around 4.44%, more than CMIUX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMIUX Six Circles Managed Equity Portfolio International Unconstrained Fund	2.34%	2.62%	2.96%	2.25%	2.98%	1.93%	1.81%	1.55%	0.00%	0.00%	0.00%	0.00%
FUSIX Strategic Advisers Fidelity International Fund	4.44%	3.02%	3.40%	2.43%	4.71%	5.83%	1.25%	3.05%	3.78%	2.03%	1.78%	1.46%

Frequently Asked Questions

Can I hold both FUSIX and CMIUX in my portfolio?

FUSIX and CMIUX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FUSIX or CMIUX?

FUSIX has higher volatility (4.92%) compared to CMIUX (4.33%). In terms of maximum drawdown, FUSIX dropped -64.42% vs CMIUX's -36.83%.

Which has better risk-adjusted returns?

CMIUX currently has the higher Sharpe Ratio (1.67 vs 1.64), 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.