A strength of Six Circles is that its product shelf of open-end and exchange-traded funds is, on average, offered at a minimal cost, suggesting that it considers what's best for its investor base. On average, fees for funds are in the lowest quintile of respective category peers. The firm's lineup has been durable. It has had a three-year risk-adjusted success ratio of 67%, meaning that of the strategies with a three-year track record, 67% have both survived and beaten their respective category median on a risk-adjusted basis. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. Six Circles's longest-tenured managers do not possess comparable experience as teams at other firms, a cause for concern. Specifically, average tenure within the firm is five years. As such, there is less confidence in the group's ability to manage capital through a full market cycle effectively.
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