PACE Municipal Fixed Income Investments (PCMNX)
The fund invests at least 80% of its net assets in municipal fixed income investments, the income from which is exempt from regular federal income taxes. It invests principally in investment grade municipal bonds of varying maturities. It limits its investments in municipal bonds that are subject to the federal AMT so that not more than 25% of its interest income will be subject to the AMT, and invests in these bonds when its investment advisor believes that they offer attractive yields relative to similar municipal bonds that are not subject to the AMT.
Fund Info
| ISIN | US69373W5664 |
|---|---|
| Issuer | UBS Asset Management |
| Inception Date | Aug 23, 1995 |
| Category | Municipal Bonds |
| Min. Investment | $10,000 |
| Asset Class | Bond |
Expense Ratio
PCMNX has a high expense ratio of 0.57%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: PCMNX vs. VOO
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PACE Municipal Fixed Income Investments, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
PACE Municipal Fixed Income Investments had a return of -0.98% year-to-date (YTD) and 2.16% in the last 12 months. Over the past 10 years, PACE Municipal Fixed Income Investments had an annualized return of 2.01%, while the S&P 500 had an annualized return of 10.41%, indicating that PACE Municipal Fixed Income Investments did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -0.98% | 6.17% |
| 1 month | -0.29% | -2.72% |
| 6 months | 5.32% | 17.29% |
| 1 year | 2.16% | 23.80% |
| 5 years (annualized) | 1.12% | 11.47% |
| 10 years (annualized) | 2.01% | 10.41% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.20% | 0.04% | -0.03% | -0.95% | ||||||||
| 2023 | -0.72% | 4.79% | 2.29% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PCMNX is 28, suggesting that the investment has average results relative to the market in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
PACE Municipal Fixed Income Investments(PCMNX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PACE Municipal Fixed Income Investments (PCMNX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
PACE Municipal Fixed Income Investments granted a 2.46% dividend yield in the last twelve months. The annual payout for that period amounted to $0.30 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.30 | $0.29 | $0.28 | $0.31 | $0.33 | $0.42 | $0.40 | $0.38 | $0.46 | $0.43 | $0.36 | $0.45 |
Dividend yield | 2.46% | 2.37% | 2.30% | 2.38% | 2.47% | 3.18% | 3.11% | 2.89% | 3.57% | 3.23% | 2.71% | 3.54% |
Monthly Dividends
The table displays the monthly dividend distributions for PACE Municipal Fixed Income Investments. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.03 | $0.02 | ||||||||
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.07 |
| 2020 | $0.03 | $0.03 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.03 | $0.10 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.08 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.13 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.10 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the PACE Municipal Fixed Income Investments. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PACE Municipal Fixed Income Investments was 11.62%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current PACE Municipal Fixed Income Investments drawdown is 3.73%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -11.62% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -10.96% | Mar 10, 2020 | 9 | Mar 20, 2020 | 96 | Aug 6, 2020 | 105 |
| -7.55% | Jan 24, 2008 | 185 | Oct 16, 2008 | 59 | Jan 12, 2009 | 244 |
| -5.72% | Jul 11, 2016 | 102 | Dec 1, 2016 | 173 | Aug 10, 2017 | 275 |
| -5.68% | May 6, 2013 | 86 | Sep 5, 2013 | 150 | Apr 10, 2014 | 236 |
Volatility
Volatility Chart
The current PACE Municipal Fixed Income Investments volatility is 0.58%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.