This paper presents a mm-wave non-magnetic balanced circulator that bridges the gap between the high insertion loss (IL) of electrical balance duplexers and the transmitter (TX)to-receiver (RX) isolation degradation of conventional circulators under varying antenna (ANT) voltage standing wave ratio (VSWR). Using quadrature couplers, a balance network, and (non)-reciprocal branches, it achieves <5.2dB TX-to-ANT IL, <4.2dB RX-to-ANT IL, and >20dB TX-to-RX isolation over a >2.2GHz bandwidth at VSWR=2.