Six Circles Tax Aware Bond Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.2%
1 yr return
8.6%
3 Yr Avg Return
0.3%
5 Yr Avg Return
N/A
Net Assets
$10.2 B
Holdings in Top 10
2.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.28%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 13.54%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CBTAX - Profile
Distributions
- YTD Total Return 2.2%
- 3 Yr Annualized Total Return 0.3%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.04%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSix Circles Tax Aware Bond Fund
-
Fund Family NameSix Circles Funds
-
Inception DateMay 19, 2020
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Miller
Fund Description
CBTAX - Performance
Return Ranking - Trailing
Period | CBTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -5.0% | 26.7% | 36.02% |
1 Yr | 8.6% | 0.7% | 38.1% | 42.94% |
3 Yr | 0.3%* | -10.8% | 3.2% | 14.57% |
5 Yr | N/A* | -7.0% | 1102.9% | N/A |
10 Yr | N/A* | -0.9% | 248.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | CBTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.5% | -1.4% | 41.0% | 22.90% |
2022 | -8.9% | -39.7% | 0.3% | 26.40% |
2021 | 0.0% | -5.6% | 6.9% | 29.72% |
2020 | N/A | -2.6% | 310.0% | N/A |
2019 | N/A | 0.0% | 26.0% | N/A |
Total Return Ranking - Trailing
Period | CBTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -5.0% | 26.7% | 36.02% |
1 Yr | 8.6% | 0.7% | 38.1% | 42.94% |
3 Yr | 0.3%* | -10.8% | 3.2% | 14.57% |
5 Yr | N/A* | -7.0% | 1102.9% | N/A |
10 Yr | N/A* | -0.9% | 248.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CBTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.4% | -1.3% | 41.0% | 32.11% |
2022 | -7.5% | -39.7% | 1.1% | 30.94% |
2021 | 0.9% | -4.8% | 23761504.0% | 68.23% |
2020 | N/A | -1.5% | 17057.9% | N/A |
2019 | N/A | 0.2% | 3514.6% | N/A |
NAV & Total Return History
CBTAX - Holdings
Concentration Analysis
CBTAX | Category Low | Category High | CBTAX % Rank | |
---|---|---|---|---|
Net Assets | 10.2 B | 3.22 M | 71.9 B | 2.27% |
Number of Holdings | 3675 | 4 | 13418 | 1.73% |
Net Assets in Top 10 | 283 M | -317 M | 3.09 B | 13.58% |
Weighting of Top 10 | 2.77% | 1.8% | 100.3% | 99.80% |
Top 10 Holdings
- TENDER OPTION BOND TRUST RECEI REGD V/R B/E 3.95000000 0.38%
- NEW YORK NY REGD B/E 5.25000000 0.33%
- MAIN STREET NATURAL GAS INC GA REGD V/R B/E 4.00000000 0.31%
- TRIBOROUGH NY BRIDGE TUNNEL REGD B/E 5.25000000 0.28%
- NEW YORK ST URBAN DEV CORP REV REGD B/E 5.00000000 0.27%
- KENTUCKY ST PUBLIC ENERGY AUTH REGD V/R B/E 5.25000000 0.26%
- TRIBOROUGH NY BRIDGE TUNNEL REGD B/E 5.25000000 0.26%
- TEXAS ST PRIV ACTIVITY BOND SU REGD B/E AMT 5.00000000 0.25%
- BLACK BELT ENERGY GAS DIST AL REGD V/R B/E 4.00000000 0.23%
- PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 0.22%
Asset Allocation
Weighting | Return Low | Return High | CBTAX % Rank | |
---|---|---|---|---|
Bonds | 98.60% | 0.00% | 150.86% | 58.42% |
Cash | 1.40% | -50.86% | 44.62% | 41.28% |
Stocks | 0.00% | 0.00% | 99.78% | 68.60% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 61.58% |
Other | 0.00% | -3.69% | 51.88% | 62.32% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 61.43% |
Bond Sector Breakdown
Weighting | Return Low | Return High | CBTAX % Rank | |
---|---|---|---|---|
Municipal | 91.44% | 44.39% | 100.00% | 91.51% |
Cash & Equivalents | 0.19% | 0.00% | 44.41% | 46.87% |
Government | 0.15% | 0.00% | 52.02% | 4.28% |
Corporate | 0.01% | 0.00% | 9.41% | 18.65% |
Derivative | 0.00% | -3.69% | 51.88% | 60.65% |
Securitized | 0.00% | 0.00% | 5.93% | 62.23% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CBTAX % Rank | |
---|---|---|---|---|
US | 98.60% | 0.00% | 142.23% | 56.06% |
Non US | 0.00% | 0.00% | 23.89% | 63.65% |
CBTAX - Expenses
Operational Fees
CBTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.28% | 0.01% | 8.02% | 95.00% |
Management Fee | 0.25% | 0.00% | 1.20% | 10.31% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.01% | 0.01% | 0.44% | 0.21% |
Sales Fees
CBTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
CBTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
CBTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 13.54% | 0.00% | 283.00% | 36.43% |
CBTAX - Distributions
Dividend Yield Analysis
CBTAX | Category Low | Category High | CBTAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.39% | 0.00% | 14.51% | 46.17% |
Dividend Distribution Analysis
CBTAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
CBTAX | Category Low | Category High | CBTAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.04% | -0.53% | 5.33% | 85.78% |
Capital Gain Distribution Analysis
CBTAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 30, 2024 | $0.028 | OrdinaryDividend |
Sep 27, 2024 | $0.028 | OrdinaryDividend |
Aug 29, 2024 | $0.028 | OrdinaryDividend |
Jul 30, 2024 | $0.026 | OrdinaryDividend |
Apr 29, 2024 | $0.026 | OrdinaryDividend |
Mar 27, 2024 | $0.027 | OrdinaryDividend |
Feb 28, 2024 | $0.025 | OrdinaryDividend |
Jan 30, 2024 | $0.024 | OrdinaryDividend |
Dec 28, 2023 | $0.026 | OrdinaryDividend |
Nov 29, 2023 | $0.023 | OrdinaryDividend |
Oct 30, 2023 | $0.023 | OrdinaryDividend |
Sep 28, 2023 | $0.022 | OrdinaryDividend |
Aug 30, 2023 | $0.023 | OrdinaryDividend |
Jul 28, 2023 | $0.023 | OrdinaryDividend |
Jun 29, 2023 | $0.021 | OrdinaryDividend |
May 30, 2023 | $0.022 | OrdinaryDividend |
Apr 27, 2023 | $0.022 | OrdinaryDividend |
Mar 30, 2023 | $0.023 | OrdinaryDividend |
Feb 27, 2023 | $0.019 | OrdinaryDividend |
Jan 30, 2023 | $0.018 | OrdinaryDividend |
Dec 29, 2022 | $0.020 | OrdinaryDividend |
Nov 29, 2022 | $0.017 | OrdinaryDividend |
Oct 28, 2022 | $0.017 | OrdinaryDividend |
Aug 30, 2022 | $0.015 | OrdinaryDividend |
Jul 28, 2022 | $0.013 | OrdinaryDividend |
Jun 29, 2022 | $0.015 | OrdinaryDividend |
May 27, 2022 | $0.012 | OrdinaryDividend |
Apr 28, 2022 | $0.010 | OrdinaryDividend |
Mar 30, 2022 | $0.011 | OrdinaryDividend |
Feb 25, 2022 | $0.009 | OrdinaryDividend |
Jan 28, 2022 | $0.010 | OrdinaryDividend |
Dec 29, 2021 | $0.010 | OrdinaryDividend |
Dec 17, 2021 | $0.000 | CapitalGainLongTerm |
Nov 24, 2021 | $0.009 | OrdinaryDividend |
Sep 29, 2021 | $0.009 | OrdinaryDividend |
Aug 30, 2021 | $0.009 | OrdinaryDividend |
Jul 29, 2021 | $0.009 | OrdinaryDividend |
Jun 29, 2021 | $0.009 | OrdinaryDividend |
Apr 29, 2021 | $0.009 | OrdinaryDividend |
Mar 30, 2021 | $0.011 | OrdinaryDividend |
Feb 25, 2021 | $0.007 | OrdinaryDividend |
Jan 28, 2021 | $0.009 | OrdinaryDividend |
Oct 29, 2020 | $0.007 | OrdinaryDividend |
Sep 29, 2020 | $0.002 | OrdinaryDividend |
Aug 28, 2020 | $0.001 | OrdinaryDividend |
Jul 30, 2020 | $0.012 | OrdinaryDividend |
Jun 29, 2020 | $0.012 | OrdinaryDividend |
May 28, 2020 | $0.002 | OrdinaryDividend |
CBTAX - Fund Manager Analysis
Managers
Robert Miller
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Robert Miller is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments, where he manages mutual funds and separate accounts. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to joining WFAM, Robert worked for American Century Investments, where he was part of a team managing the firm’s municipal bond portfolios. Robert had direct responsibility for the firm’s national intermediate- and long-term investment-grade strategies. In addition, he managed several other state-specific funds for the firm. Robert also served as a member of its analytical team. Earlier, Robert was a municipal bond analyst with Moody’s Investors Service, where he served as an analyst in the States and High Profile Ratings Group as well as the Airport Credit Group, the Southeast Regional Ratings Group, and the Mid-Atlantic Regional Ratings Group. He also founded a small venture capital firm and served as a consultant with Black and Veatch and KPMG Peat Marwick, where he specialized in conducting financial feasibility studies in support of large infrastructure projects. Robert earned a bachelor’s degree in business administration with an emphasis in finance from San Jose State University and a master’s degree in business administration from the Leonard N. Stern School of Business at New York University.
Terry Goode
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Terry Goode is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He is responsible for managing national and state-specific mutual funds, insurance accounts, and separate accounts. Terry joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before this, he served as head of the WFAM Tax-Exempt Research team, leading the group responsible for providing credit research to the Municipal Fixed Income team. Prior to joining WFAM, Terry performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services. He held a similar position with Wells Fargo Bank’s health care division. Terry earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the National Federation of Municipal Analysts and the Society of Municipal Analysts and served as former chair and member of the California Society of Municipal Analysts.
Jeffrey Gaffney
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Mr. Gaffney is an Executive Director and the Head of Multi-Asset Portfolio Management–Americas for J.P. Morgan Private Bank, based in New York. He is responsible for constructing efficient multi-asset class portfolios for clients across the spectrum of investment objectives, risk tolerances, and liquidity constraints. Mr. Gaffney has been with J.P. Morgan since 2009, and has been a member of the Private Bank CIO Team since 2011. He chairs the WM U.S. Investment Committee and is a member of the Global Investment Committee. In addition, Mr. Gaffney serves as a portfolio manager for several J.P. Morgan asset allocation strategies. Mr. Gaffney holds a Bachelor of Science in Engineering degree from Princeton University in Operations Research and Financial Engineering. He also holds a Masters of Business Administration from Yale University with an emphasis in Finance.
Stephen Candido
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Stephen J. Candido, CFA, is Vice President, Portfolio Manager and Senior Research Analyst at Nuveen Asset Management, LLC. Mr. Candido is a portfolio manager and senior research analyst for the Municipal Fixed Income Team, responsible for conducting fundamental credit analysis and contributing to relative value assessments with portfolio managers and traders, primarily for high yield strategies. He specializes in covering land secured credits, including special assessment districts, tax increment financings, and project finance. In addition, he is assigned to the student loan and housing sectors, including student housing. Mr. Candido started working in the financial services industry in 1996 when he joined the firm in the Unit Trust Division. Prior to his current role on the research team, he was an assistant vice president for Nuveen’s Global Structured Products team beginning in 2005. He also served as the manager of the Fixed Income Unit Trust Product Management and Pricing Group starting in 2001 and prior to that held positions as an equity research analyst and fixed income pricing analyst. Mr. Candido earned a B.S. in finance from Miami University in Ohio and an M.B.A. in finance with honors as a member of Beta Gamma Sigma from the University of Illinois-Chicago. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago.
Mark Marinella
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Mark Marinella is a fixed income portfolio manager at Capital Group. He has 31 years of investment industry experience and has been with Capital Group for four years. Earlier in his career at Capital, he was head of the Investment Resources Group as well as a senior manager in fixed income. Prior to joining Capital, Mark was a global chief investment officer for fixed income and currencies at State Street Global Advisors. He holds an MBA from Boston College and a bachelor’s degree in economics from the University of Massachusetts. He also holds the Chartered Financial Analyst® designation. Mark is based in Los Angeles.
Chad Rach
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Primary title with Capital Research and Management Company, Senior Vice President and Capital Fixed Income Investors. Rach is a portfolio manager with Strong, where he started in March 2000 as a fixed income analyst. Prior to this, he was assistant vice president with both Robert W. Baird & Co. and Miller & Schroeder Financial. He also worked as Director of Community Development for the city of Glendale, WI.
Karl Zeile
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Zeile has been employed by Capital and its affiliates since 1999.
Aaron Applebaum
Start Date
Tenure
Tenure Rank
May 19, 2020
2.03
2.0%
Mr. Applebaum is a fixed income portfolio manager at Capital Group. He also serves on the Fixed Income Investment Committee. He has 19 years of investment experience and has been with Capital Group for 12 years
Nicholos Venditti
Start Date
Tenure
Tenure Rank
Aug 31, 2020
1.75
1.8%
Nicholos Venditti is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before joining WFAM, he was with Thornburg Investment Management as a portfolio manager and head of the municipal bond group. Earlier positions there include serving as a portfolio manager on seven mutual funds and separately managed accounts with total assets of approximately $10 billion. Prior to Thornburg, Nicholos held a variety of roles focused on municipal credit analysis at Financial Security Assurance/Assured Guaranty, where he began his investment industry career in 2007. He earned a bachelor’s degree in theoretical economics from Trinity University; a master’s degree in applied economics from the University of North Carolina, Greensboro, where he also served as an adjunct professor; and a master’s degree in finance from Syracuse University. He has earned the right to use the Chartered Financial Analyst® (CFA) designation.
Scott Radell
Start Date
Tenure
Tenure Rank
Nov 30, 2021
0.5
0.5%
Scott Radell has been employed as managing director and portfolio manager with BlackRock Investment Management LLC and BlackRock Financial Advisers (formerly, Barclays Global Fund Advisors) and its predecessors since 2009. Mr. Radell served as a portfolio manager at Barclays Global Fund Advisors and its affiliates since 2004. Radell was a credit strategist from 2003 to 2004 before becoming a CoreAlpha Bond Portfolio Manager and prior to that he was employed by Morgan Stanley Asset Management as a credit analyst from 1996 to 2003.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.35 | 1.58 |