BBBS vs. PCMNX

Last updated Jun 24, 2026

BBBS (Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF) and PCMNX (PACE Municipal Fixed Income Investments) are both funds - BBBS is a Short-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 1-5 Year Index, while PCMNX is a Municipal Bonds fund managed by UBS. Over the past year, BBBS returned 4.11% vs 6.06% for PCMNX. At a 0.47 correlation, their price movements are largely independent. BBBS charges 0.19%/yr vs 0.57%/yr for PCMNX.

Performance

BBBS vs. PCMNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS) and PACE Municipal Fixed Income Investments (PCMNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBBS achieves a 0.77% return, which is significantly lower than PCMNX's 1.36% return.

BBBS

• 1D: 0.09%
• 1M: 0.36%
• YTD: 0.77%
• 6M: 0.98%
• 1Y: 4.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCMNX

• 1D: -0.08%
• 1M: 1.23%
• YTD: 1.36%
• 6M: 1.53%
• 1Y: 6.06%
• 3Y*: 3.36%
• 5Y*: 0.90%
• 10Y*: 1.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBBS vs. PCMNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	0.77%	6.67%	4.97%
PCMNX PACE Municipal Fixed Income Investments	1.36%	4.52%	1.72%

Correlation

The correlation between BBBS and PCMNX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	0.47

Return for Risk

BBBS vs. PCMNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBBS

BBBS Risk / Return Rank: 73
BBBS Sharpe Ratio Rank: 73
BBBS Sortino Ratio Rank: 82
BBBS Omega Ratio Rank: 79
BBBS Calmar Ratio Rank: 62
BBBS Martin Ratio Rank: 67

PCMNX

PCMNX Risk / Return Rank: 73
PCMNX Sharpe Ratio Rank: 94
PCMNX Sortino Ratio Rank: 94
PCMNX Omega Ratio Rank: 96
PCMNX Calmar Ratio Rank: 47
PCMNX Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBBS vs. PCMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS) and PACE Municipal Fixed Income Investments (PCMNX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBBS	PCMNX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.99	-0.80
Sortino ratio: Return per unit of downside risk	3.36	4.55	-1.19
Omega ratio: Gain probability vs. loss probability	1.43	1.81	-0.38
Calmar ratio: Return relative to maximum drawdown	2.85	2.50	+0.35
Martin ratio: Return relative to average drawdown	11.50	7.55	+3.95

BBBS vs. PCMNX - Sharpe Ratio Comparison

The current BBBS Sharpe Ratio is 2.18, which is comparable to the PCMNX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of BBBS and PCMNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBBS vs. PCMNX - Drawdown Comparison

The maximum BBBS drawdown since its inception was -1.45%, smaller than the maximum PCMNX drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for BBBS and PCMNX.

Drawdown Indicators

	BBBS	PCMNX	Difference
Max Drawdown Largest peak-to-trough decline	-1.45%	-11.62%	+10.17%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-2.69%	+1.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.62%	—
Current Drawdown Current decline from peak	-0.20%	-0.78%	+0.58%
Average Drawdown Average peak-to-trough decline	-0.28%	-1.39%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.86%	-0.50%

Volatility

BBBS vs. PCMNX - Volatility Comparison

Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS) has a higher volatility of 0.64% compared to PACE Municipal Fixed Income Investments (PCMNX) at 0.54%. This indicates that BBBS's price experiences larger fluctuations and is considered to be riskier than PCMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBBS	PCMNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.54%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	1.44%	1.67%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	1.89%	2.26%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.24%	3.07%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.24%	3.35%	-1.11%

BBBS vs. PCMNX - Expense Ratio Comparison

BBBS has a 0.19% expense ratio, which is lower than PCMNX's 0.57% expense ratio.

Dividends

BBBS vs. PCMNX - Dividend Comparison

BBBS's dividend yield for the trailing twelve months is around 4.58%, more than PCMNX's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	4.58%	4.55%	4.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PCMNX PACE Municipal Fixed Income Investments	2.82%	2.49%	2.58%	2.37%	2.30%	2.38%	2.47%	3.41%	3.11%	2.89%	3.33%	3.23%

Frequently Asked Questions

Can I hold both BBBS and PCMNX in my portfolio?

BBBS and PCMNX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBBS or PCMNX?

BBBS has higher volatility (0.64%) compared to PCMNX (0.54%). In terms of maximum drawdown, BBBS dropped -1.45% vs PCMNX's -11.62%.

Which has better risk-adjusted returns?

PCMNX currently has the higher Sharpe Ratio (2.99 vs 2.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.