BPGLX vs. PCGTX

Last updated Jun 5, 2026

BPGLX (UBS Global Allocation Fund) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both mutual funds - BPGLX is a Global Allocation fund managed by UBS, while PCGTX is a Intermediate Core Bond fund managed by UBS. Over the past 10 years, BPGLX returned 7.51%/yr vs 1.53%/yr for PCGTX. At a 0.08 correlation, their price movements are largely independent. BPGLX charges 0.95%/yr vs 0.73%/yr for PCGTX.

Performance

BPGLX vs. PCGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Global Allocation Fund (BPGLX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPGLX achieves a 8.42% return, which is significantly higher than PCGTX's 2.82% return. Over the past 10 years, BPGLX has outperformed PCGTX with an annualized return of 7.51%, while PCGTX has yielded a comparatively lower 1.53% annualized return.

BPGLX

• 1D: -0.60%
• 1M: 3.14%
• YTD: 8.42%
• 6M: 9.18%
• 1Y: 24.47%
• 3Y*: 14.51%
• 5Y*: 5.43%
• 10Y*: 7.51%

PCGTX

• 1D: -0.19%
• 1M: 0.11%
• YTD: 2.82%
• 6M: 3.30%
• 1Y: 8.55%
• 3Y*: 4.91%
• 5Y*: 0.28%
• 10Y*: 1.53%

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

BPGLX vs. PCGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPGLX UBS Global Allocation Fund	8.42%	19.02%	8.56%	9.69%	-16.82%	8.09%	13.84%	19.05%	-7.56%	17.08%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	2.82%	7.84%	0.98%	5.12%	-13.48%	-0.61%	5.75%	6.55%	0.17%	2.83%

Correlation

The correlation between BPGLX and PCGTX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 21, 1996	0.08

Over the past year, BPGLX and PCGTX have become more correlated (0.45) than their long-term average of 0.08, meaning their price movements have been converging.

Return for Risk

BPGLX vs. PCGTX — Risk / Return Rank

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

BPGLX

BPGLX Risk / Return Rank: 72
BPGLX Sharpe Ratio Rank: 80
BPGLX Sortino Ratio Rank: 76
BPGLX Omega Ratio Rank: 76
BPGLX Calmar Ratio Rank: 62
BPGLX Martin Ratio Rank: 66

PCGTX

PCGTX Risk / Return Rank: 56
PCGTX Sharpe Ratio Rank: 40
PCGTX Sortino Ratio Rank: 56
PCGTX Omega Ratio Rank: 52
PCGTX Calmar Ratio Rank: 74
PCGTX Martin Ratio Rank: 57

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.

BPGLX vs. PCGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Global Allocation Fund (BPGLX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). 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.

	BPGLX	PCGTX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	1.79	+0.81
Sortino ratio: Return per unit of downside risk	3.64	3.13	+0.51
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	3.00	3.29	-0.30
Martin ratio: Return relative to average drawdown	12.61	11.29	+1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPGLX vs. PCGTX - Sharpe Ratio Comparison

The current BPGLX Sharpe Ratio is 2.60, which is higher than the PCGTX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of BPGLX and PCGTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BPGLX	PCGTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	1.79	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.04	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.29	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.96	-0.45

Drawdowns

BPGLX vs. PCGTX - Drawdown Comparison

The maximum BPGLX drawdown since its inception was -53.03%, which is greater than PCGTX's maximum drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for BPGLX and PCGTX.

Drawdown Indicators

	BPGLX	PCGTX	Difference
Max Drawdown Largest peak-to-trough decline	-53.03%	-19.34%	-33.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-3.09%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-11.25%	-7.94%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	-19.20%	-3.04%
Max Drawdown (10Y) Largest decline over 10 years	-23.37%	-19.34%	-4.03%
Current Drawdown Current decline from peak	-0.60%	-1.49%	+0.89%
Average Drawdown Average peak-to-trough decline	-5.78%	-1.85%	-3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	0.89%	+1.17%

Volatility

BPGLX vs. PCGTX - Volatility Comparison

UBS Global Allocation Fund (BPGLX) has a higher volatility of 2.86% compared to PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) at 1.79%. This indicates that BPGLX's price experiences larger fluctuations and is considered to be riskier than PCGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPGLX	PCGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	1.79%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	4.41%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	5.67%	+4.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.62%	7.16%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.83%	5.39%	+5.44%

BPGLX vs. PCGTX - Expense Ratio Comparison

BPGLX has a 0.95% expense ratio, which is higher than PCGTX's 0.73% expense ratio.

Dividends

BPGLX vs. PCGTX - Dividend Comparison

BPGLX's dividend yield for the trailing twelve months is around 1.91%, less than PCGTX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPGLX UBS Global Allocation Fund	1.91%	2.08%	2.02%	2.37%	4.65%	18.98%	1.78%	7.15%	0.00%	1.64%	2.42%	2.83%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	4.49%	3.78%	5.36%	5.02%	3.67%	2.87%	3.23%	3.53%	3.34%	2.96%	2.71%	2.21%

Frequently Asked Questions

Can I hold both BPGLX and PCGTX in my portfolio?

BPGLX and PCGTX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPGLX or PCGTX?

BPGLX has higher volatility (2.86%) compared to PCGTX (1.79%). In terms of maximum drawdown, BPGLX dropped -53.03% vs PCGTX's -19.34%.

Which has better risk-adjusted returns?

BPGLX currently has the higher Sharpe Ratio (2.60 vs 1.79), 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.