BNUEX vs. PCIEX

Last updated Jun 26, 2026

BNUEX (UBS International Sustainable Equity Fund) and PCIEX (PACE International Equity Investments) are both Foreign Large Cap Equities funds from UBS. Over the past 10 years, BNUEX returned 9.12%/yr vs 10.62%/yr for PCIEX. Their correlation of 0.94 suggests significant overlap in exposure. BNUEX charges 1.00%/yr vs 1.33%/yr for PCIEX.

Performance

BNUEX vs. PCIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS International Sustainable Equity Fund (BNUEX) and PACE International Equity Investments (PCIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNUEX achieves a 3.87% return, which is significantly lower than PCIEX's 6.54% return. Over the past 10 years, BNUEX has underperformed PCIEX with an annualized return of 9.12%, while PCIEX has yielded a comparatively higher 10.62% annualized return.

BNUEX

• 1D: 0.00%
• 1M: -2.16%
• YTD: 3.87%
• 6M: 4.12%
• 1Y: 17.01%
• 3Y*: 14.65%
• 5Y*: 6.34%
• 10Y*: 9.12%

PCIEX

• 1D: -0.10%
• 1M: -0.92%
• YTD: 6.54%
• 6M: 6.37%
• 1Y: 20.52%
• 3Y*: 17.90%
• 5Y*: 9.69%
• 10Y*: 10.62%

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

BNUEX vs. PCIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNUEX UBS International Sustainable Equity Fund	3.87%	29.10%	6.62%	15.40%	-14.08%	3.24%	12.95%	22.61%	-16.73%	31.21%
PCIEX PACE International Equity Investments	6.54%	35.07%	6.07%	20.38%	-14.16%	12.33%	11.17%	19.09%	-13.58%	25.49%

Correlation

The correlation between BNUEX and PCIEX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 18, 1995	0.94

The correlation between BNUEX and PCIEX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

BNUEX vs. PCIEX — Risk / Return Rank

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

BNUEX

BNUEX Risk / Return Rank: 32
BNUEX Sharpe Ratio Rank: 32
BNUEX Sortino Ratio Rank: 30
BNUEX Omega Ratio Rank: 31
BNUEX Calmar Ratio Rank: 31
BNUEX Martin Ratio Rank: 38

PCIEX

PCIEX Risk / Return Rank: 44
PCIEX Sharpe Ratio Rank: 45
PCIEX Sortino Ratio Rank: 44
PCIEX Omega Ratio Rank: 48
PCIEX Calmar Ratio Rank: 39
PCIEX Martin Ratio Rank: 43

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.

BNUEX vs. PCIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS International Sustainable Equity Fund (BNUEX) and PACE International Equity Investments (PCIEX). 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.

	BNUEX	PCIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.60	-0.26
Sortino ratio: Return per unit of downside risk	1.89	2.27	-0.37
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.06
Calmar ratio: Return relative to maximum drawdown	1.78	2.03	-0.25
Martin ratio: Return relative to average drawdown	7.07	7.74	-0.67

BNUEX vs. PCIEX - Sharpe Ratio Comparison

The current BNUEX Sharpe Ratio is 1.34, which is comparable to the PCIEX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of BNUEX and PCIEX, 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

BNUEX vs. PCIEX - Drawdown Comparison

The maximum BNUEX drawdown since its inception was -61.03%, roughly equal to the maximum PCIEX drawdown of -61.66%. Use the drawdown chart below to compare losses from any high point for BNUEX and PCIEX.

Drawdown Indicators

	BNUEX	PCIEX	Difference
Max Drawdown Largest peak-to-trough decline	-61.03%	-61.66%	+0.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-10.81%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-15.71%	-15.32%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-30.38%	-28.28%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-36.07%	-36.04%	-0.03%
Current Drawdown Current decline from peak	-2.59%	-1.64%	-0.95%
Average Drawdown Average peak-to-trough decline	-12.03%	-16.47%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	2.75%	-0.29%

Volatility

BNUEX vs. PCIEX - Volatility Comparison

The current volatility for UBS International Sustainable Equity Fund (BNUEX) is 4.25%, while PACE International Equity Investments (PCIEX) has a volatility of 4.60%. This indicates that BNUEX experiences smaller price fluctuations and is considered to be less risky than PCIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNUEX	PCIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	4.60%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	11.18%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	13.75%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.44%	16.64%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.82%	16.38%	-0.56%

BNUEX vs. PCIEX - Expense Ratio Comparison

BNUEX has a 1.00% expense ratio, which is lower than PCIEX's 1.33% expense ratio.

Dividends

BNUEX vs. PCIEX - Dividend Comparison

BNUEX's dividend yield for the trailing twelve months is around 1.87%, less than PCIEX's 12.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNUEX UBS International Sustainable Equity Fund	1.87%	1.94%	1.64%	0.85%	14.17%	9.87%	1.30%	1.43%	1.99%	1.38%	2.37%	1.31%
PCIEX PACE International Equity Investments	12.06%	12.85%	13.58%	4.22%	3.30%	8.10%	1.35%	2.77%	8.79%	2.13%	2.34%	1.74%

Frequently Asked Questions

Can I hold both BNUEX and PCIEX in my portfolio?

With a correlation of 0.92, BNUEX and PCIEX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BNUEX or PCIEX?

PCIEX has higher volatility (4.60%) compared to BNUEX (4.25%). In terms of maximum drawdown, BNUEX dropped -61.03% vs PCIEX's -61.66%.

Which has better risk-adjusted returns?

PCIEX currently has the higher Sharpe Ratio (1.60 vs 1.34), 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.