Six Circles Global Bond Fund
SIX CIRCLES TRUST · Series S000068181
data updated 2026-08-10
Fund profile
As filed in the prospectus · 2026 Q2
The Fund seeks to provide total return.
The fund is actively managed by J.P. Morgan Private Investments Inc., which allocates assets among sub-advisers (BlackRock, PIMCO, and PGIM) who make day-to-day security selections across global government, corporate, and securitized fixed income sectors; most investments are investment grade at purchase, though up to 20% may be below investment grade. As a non-diversified fund, it may concentrate assets in fewer issuers and is not required to maintain set allocations by country or sector. The sub-advisers employ different approaches: BlackRock tracks segments of global bond indexes as directed by the adviser, PGIM actively manages government and corporate credit components, and PIMCO focuses on securitized debt and related derivatives.
| Share class | Gross | Net |
|---|---|---|
| C000218339 | 0.33% | 0.13% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 158.83% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Bonds | 85.98% |
| Securitized | 14.73% |
| Derivatives | 1.39% |
| Cash & short-term | -0.78% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: RC R/P CITIGR 3.780% 04/13/26, FNCL TBA 30YR 2% MAY 26, FNMA 30YR TBA 6% JUN 26, US T BILL ZCP 05/12/26, CHINA GOVE 1.45% 02/25/28/CNY, RC R/P WELLS 3.780% 04/13/26, FNMA 30YR TBA 5% APR 26, US TREAS NTS 4.125% 02/15/36
Largest exited: FNMA 30YR TBA 6% MAR 26, UMBS TBA 30YR 2% FEB 26, FNMA 30YR TBA 5% FEB 26, RC R/P CITIGR 3.970% 01/07/26, G2SF 30YR TBA 3.00% JAN 26, CHINA GOVER 2.8% 03/24/29/CNY, FNCL 30YR TBA 3.5% FEB 26, CHINA DEVE 3.48% 01/08/29/CNY
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
Mar 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-03-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 95.3% |
| Floating rate | 4.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.4% |
| 1-3y | 16.3% |
| 3-5y | 17.3% |
| 5-10y | 32.9% |
| 10y+ | 32.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 70% |
| Credit spreads | 30% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.75 yr |
| High yield | +0.00 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.43 yr | 7% |
| 5 yr | 1.81 yr | 28% |
| 10 yr | 2.76 yr | 43% |
| 30 yr | 1.39 yr | 22% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.20 yr | 7% |
| 5 yr | 0.90 yr | 33% |
| 10 yr | 1.20 yr | 43% |
| 30 yr | 0.46 yr | 17% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.00 | +0.00 | $3.1k | $130 |
| 1 yr | +0.43 | +0.20 | +0.00 | $335.0k | $110 |
| 5 yr | +1.81 | +0.90 | +0.00 | $1.53m | $3.5k |
| 10 yr | +2.76 | +1.20 | +0.00 | $2.03m | $1.5k |
| 30 yr | +1.39 | +0.46 | +0.00 | $780.3k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 6.41 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | CHINA GOVE 1.91% 07/15/29/CNY1.91% · due 2029-07-15 | 0.87% | $148.65M | — |
| — | US TREAS NTS 4.625% 02/15/354.63% · due 2035-02-15 | 0.83% | $140.60M | — |
| — | US TREAS NTS 4.25% 05/15/354.25% · due 2035-05-15 | 0.82% | $138.66M | — |
| — | WI TREASURY SE 4.375% 05/15/344.38% · due 2034-05-15 | 0.81% | $138.40M | — |
| — | US TREAS NTS 4.25% 11/15/344.25% · due 2034-11-15 | 0.81% | $137.34M | — |
| — | US TREAS NTS 4.25% 08/15/354.25% · due 2035-08-15 | 0.81% | $136.87M | — |
| — | US TREAS NTS 4% 02/15/344.00% · due 2034-02-15 | 0.80% | $136.24M | — |
| — | US TREAS NTS 3.875% 08/15/343.88% · due 2034-08-15 | 0.80% | $135.47M | — |
| — | US TREAS NTS 4% 11/15/354.00% · due 2035-11-15 | 0.79% | $134.59M | — |
| — | US TREAS NTS 4.5% 11/15/334.50% · due 2033-11-15 | 0.78% | $132.97M | — |
Top 10 positions are 8.12% of net assets, top 25 15.52%, across 6.9K issuers.
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