CUTAX Performance — Six Circles Tax Aware Ultra Short Duration Fund
Data updated: 2026-08-27
CUTAX returned +1.96% year to date and +3.78% over one year to Jun 2026. Annualised returns are +3.92% over 3 years and +2.54% over 5 years. The fund trailed its Trading - Leveraged category average: $100 invested three years ago grew to $112, against $157 for the category, and to $104 over one year, against $121. Volatility over the past three years was 0.63% a year. In the 12 months to Jun 2026 the fund took in a net $1.0B, and assets reached $1.99B.
CUTAX Growth of $100
What $100 invested in Six Circles Tax Aware Ultra Short Duration Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Trading - Leveraged category average over the same months.
| Period | CUTAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $121 |
| 3 years (Jul 2023 – Jun 2026) | $112 | $157 |
| 5 years (Jul 2021 – Jun 2026) | $113 | $144 |
| Since data start (Jul 2019 – Jun 2026) | $117 | $165 |
CUTAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.96% |
| 1 year | +3.78% |
| 3 years (annualised) | +3.92% |
| 5 years (annualised) | +2.54% |
CUTAX Annual Returns
Calendar-year total returns of Six Circles Tax Aware Ultra Short Duration Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.96% |
| 2025 | +3.68% |
| 2024 | +3.74% |
| 2023 | +3.84% |
| 2022 | −0.37% |
| 2021 | +0.08% |
| 2020 | +1.81% |
| 2019 (Jul–Dec) | +0.84% |
CUTAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +0.2% | −0.1% | +0.3% | +0.6% | +0.6% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.4% | +0.2% | +0.2% | +0.3% | +0.5% | +0.4% | +0.4% | +0.3% | +0.2% | +0.3% | +0.3% |
| 2024 | +0.3% | +0.2% | +0.3% | +0.1% | +0.4% | +0.4% | +0.5% | +0.6% | +0.3% | 0.0% | +0.4% | +0.2% |
| 2023 | +0.4% | −0.1% | +0.7% | 0.0% | +0.1% | +0.4% | +0.2% | +0.3% | +0.1% | +0.4% | +0.8% | +0.5% |
| 2022 | −0.3% | −0.2% | −0.5% | −0.1% | +0.3% | −0.1% | +0.1% | −0.2% | −0.3% | +0.2% | +0.4% | +0.4% |
| 2021 | +0.1% | +0.1% | 0.0% | +0.1% | +0.1% | −0.1% | +0.1% | 0.0% | −0.1% | −0.1% | −0.1% | 0.0% |
| 2020 | +0.3% | +0.1% | −0.6% | +0.3% | +0.7% | +0.4% | +0.2% | +0.2% | 0.0% | +0.1% | +0.1% | +0.2% |
| 2019 | — | — | — | — | — | — | +0.2% | +0.1% | +0.1% | +0.1% | +0.1% | +0.1% |
CUTAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 0.63%
- 3-year Sharpe ratio: -0.91 (vs 4.5% risk-free rate)
- Best month: +0.81% (Nov 2023)
- Worst month: −0.15% (Mar 2026)
CUTAX Fund Flows
Monthly money in and out of Six Circles Tax Aware Ultra Short Duration Fund, from SEC Form N-PORT.
- 12-month net flow: $1.0B
- 12-month gross sales (incl. reinvestments): $1.4B
- Sales ÷ redemptions: 3.59×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $1.1B | $23.8M | $1.1B |
| May 2026 | $38.2M | $9.6M | $28.5M |
| Apr 2026 | $18.4M | $12.0M | $6.4M |
| Mar 2026 | $19.1M | $112.0M | −$92.9M |
| Feb 2026 | $29.1M | $110.6M | −$81.5M |
| Jan 2026 | $51.0M | $57.9M | −$7.0M |
| Dec 2025 | $22.2M | $10.9M | $11.3M |
| Nov 2025 | $25.3M | $8.7M | $16.6M |
| Oct 2025 | $35.2M | $11.0M | $24.2M |
| Sep 2025 | $20.1M | $12.1M | $8.0M |
| Aug 2025 | $18.1M | $14.3M | $3.8M |
| Jul 2025 | $18.7M | $13.4M | $5.3M |
CUTAX Assets Under Management
Net assets of Six Circles Tax Aware Ultra Short Duration Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.99B |
| 2026-03-31 | $842.20M |
| 2025-12-31 | $1.03B |
| 2025-09-30 | $973.05M |
| 2025-06-30 | $954.38M |
| 2025-03-31 | $927.08M |
| 2024-12-31 | $794.90M |
| 2024-09-30 | $759.71M |
| 2024-06-30 | $724.79M |
| 2024-03-31 | $709.94M |
| 2023-12-31 | $698.08M |
| 2023-09-30 | $686.96M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.