CAPE vs SIXH
DoubleLine Shiller CAPE US Equities ETF vs ETC 6 Meridian Hedged Equity Index Option ETF
Which is better, CAPE or SIXH?
SIXH has been ahead.
CAPE has a lower expense ratio. SIXH led over 1Y, 3Y and the full window. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 33.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAPE | SIXH |
|---|---|---|
| Expense Ratio | 0.65%Best | 0.73% |
| AUM | $209M | $605M |
| Dividend Yield | 1.46% | 1.78% |
| Holdings | 182 | 106 |
| YTD Return | +0.19% | +14.72%Best |
| 1Y Return | +0.83% | +17.59%Best |
| 3Y Return (annualized) | +11.60% | +13.16%Best |
| 5Y Return (annualized) | - | +9.95% |
| Volatility (annualized) | 16.7% | 9.4%Best |
| Max Drawdown | -22.1% | -11.7%Best |
| $10,000 over 4.5 years | $13,406 | $15,659Best |
| Top 10 Weight | 29.0%Best | 33.6% |
| Fund Family | DoubleLine Funds | 6 Meridian ETF |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 31, 2022 | May 11, 2020 |
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Apr 5, 2022 to Oct 14, 2026 (4.5 years).
CAPE vs SIXH growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.5 years both funds cover.
CAPE vs SIXH Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and ETC 6 Meridian Hedged Equity Index Option ETF (SIXH) is an ETF from 6 Meridian ETF. Over the past year CAPE returned +0.83% while SIXH returned +17.59%. Year to date, CAPE is up 0.19% versus a gain of 14.72% for SIXH.
Over three years, CAPE compounded at +11.60% per year against +13.16% for SIXH.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CAPE has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 9.4% for SIXH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -22.1% for CAPE and -11.7% for SIXH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CAPE charges 0.65% per year while SIXH charges 0.73%. On a $10,000 position that is $65 vs $73 annually, a gap of $8 per year that compounds over a long holding period. On income, CAPE currently yields 1.46% against 1.78% for SIXH.
Holdings Overlap
24.9% of CAPE's money is in holdings SIXH also owns. 32.8% of SIXH's money is in holdings CAPE also owns.
The two portfolios partly overlap.
15 positions in common, counted across the 170 positions we hold weights for in CAPE and 52 in SIXH, against full books of 182 and 106.
What only one of them owns
Our book lists 37 positions for SIXH that do not appear in our book for CAPE (67.8% of the fund), and 150 for CAPE that do not appear in SIXH (70.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CAPE | Weight in SIXH | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 6.04% | 1.26% | 4.78% |
| MOAltria Group Inc | 1.06% | 4.93% | 3.87% |
| WMTWalmart, Inc. | 2.47% | 2.55% | 0.08% |
| COSTCostco Wholesale Corp. | 2.24% | 2.51% | 0.27% |
| PEPPepsico Inc. | 1.10% | 3.50% | 2.40% |
| PMPhilip Morris International Inc. | 1.56% | 2.55% | 0.99% |
| CLColgate-Palmolive Co | 1.14% | 2.42% | 1.28% |
| MDLZMondelez International Inc Com A Npv | 1.10% | 2.41% | 1.31% |
| AMTAmerican Tower Corporation | 1.01% | 2.38% | 1.37% |
| KOCoca Cola Co. | 1.84% | 1.26% | 0.58% |
32.8% of SIXH is already inside CAPE.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or SIXH?
CAPE has an expense ratio of 0.65% while SIXH charges 0.73%. CAPE is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, CAPE or SIXH?
Over the past year CAPE returned +0.83% vs +17.59% for SIXH, so SIXH leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or SIXH?
CAPE has been the more volatile fund at 16.7% annualized versus 9.4% for SIXH. Worst drawdown: CAPE -22.1% vs SIXH -11.7%.
Should I hold both CAPE and SIXH?
CAPE and SIXH have a monthly-return correlation of 0.61, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CAPE and SIXH?
32.8% of SIXH's money is in holdings CAPE also owns. 32.8% of SIXH's is in holdings CAPE also owns. They hold 15 positions in common, counted across the 170 positions we hold weights for in CAPE and 52 in SIXH.
Which pays a higher dividend, CAPE or SIXH?
CAPE yields 1.46% while SIXH yields 1.78%, so SIXH currently pays the higher dividend yield.
Is SIXH better than CAPE?
CAPE has a lower expense ratio. SIXH led over 1Y, 3Y and the full window. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 33.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.