BPGLX vs. UTBPX

Last updated Jun 26, 2026

BPGLX (UBS Global Allocation Fund) and UTBPX (UBS Multi Income Bond Fund) are both mutual funds - BPGLX is a Global Allocation fund managed by UBS, while UTBPX is a Intermediate Core-Plus Bond fund managed by UBS. Over the past 10 years, BPGLX returned 7.66%/yr vs 2.03%/yr for UTBPX. At a 0.24 correlation, their price movements are largely independent. BPGLX charges 0.95%/yr vs 1.72%/yr for UTBPX.

Performance

BPGLX vs. UTBPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Global Allocation Fund (BPGLX) and UBS Multi Income Bond Fund (UTBPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPGLX achieves a 6.52% return, which is significantly higher than UTBPX's 1.38% return. Over the past 10 years, BPGLX has outperformed UTBPX with an annualized return of 7.66%, while UTBPX has yielded a comparatively lower 2.03% annualized return.

BPGLX

• 1D: -0.21%
• 1M: -1.09%
• YTD: 6.52%
• 6M: 6.21%
• 1Y: 20.01%
• 3Y*: 13.40%
• 5Y*: 5.12%
• 10Y*: 7.66%

UTBPX

• 1D: 0.45%
• 1M: 0.60%
• YTD: 1.38%
• 6M: 1.46%
• 1Y: 5.65%
• 3Y*: 4.56%
• 5Y*: 0.69%
• 10Y*: 2.03%

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

BPGLX vs. UTBPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPGLX UBS Global Allocation Fund	6.52%	19.02%	8.56%	9.69%	-16.82%	8.09%	13.84%	19.05%	-7.56%	17.08%
UTBPX UBS Multi Income Bond Fund	1.38%	6.60%	1.67%	6.67%	-11.74%	-1.49%	6.51%	10.62%	-2.08%	4.81%

Correlation

The correlation between BPGLX and UTBPX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 23, 2016	0.24

Over the past year, BPGLX and UTBPX have become more correlated (0.63) than their long-term average of 0.24, meaning their price movements have been converging.

Return for Risk

BPGLX vs. UTBPX — Risk / Return Rank

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

BPGLX

BPGLX Risk / Return Rank: 63
BPGLX Sharpe Ratio Rank: 69
BPGLX Sortino Ratio Rank: 66
BPGLX Omega Ratio Rank: 70
BPGLX Calmar Ratio Rank: 53
BPGLX Martin Ratio Rank: 59

UTBPX

UTBPX Risk / Return Rank: 37
UTBPX Sharpe Ratio Rank: 36
UTBPX Sortino Ratio Rank: 39
UTBPX Omega Ratio Rank: 38
UTBPX Calmar Ratio Rank: 36
UTBPX Martin Ratio Rank: 38

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. UTBPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Global Allocation Fund (BPGLX) and UBS Multi Income Bond Fund (UTBPX). 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.

	BPGLX	UTBPX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.45	+0.54
Sortino ratio: Return per unit of downside risk	2.77	2.17	+0.60
Omega ratio: Gain probability vs. loss probability	1.38	1.27	+0.10
Calmar ratio: Return relative to maximum drawdown	2.43	1.93	+0.49
Martin ratio: Return relative to average drawdown	9.96	7.18	+2.79

BPGLX vs. UTBPX - Sharpe Ratio Comparison

The current BPGLX Sharpe Ratio is 1.99, which is higher than the UTBPX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of BPGLX and UTBPX, 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

BPGLX vs. UTBPX - Drawdown Comparison

The maximum BPGLX drawdown since its inception was -53.03%, which is greater than UTBPX's maximum drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for BPGLX and UTBPX.

Drawdown Indicators

	BPGLX	UTBPX	Difference
Max Drawdown Largest peak-to-trough decline	-53.03%	-16.84%	-36.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-2.98%	-6.01%
Max Drawdown (3Y) Largest decline over 3 years	-11.25%	-5.33%	-5.92%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	-16.84%	-5.40%
Max Drawdown (10Y) Largest decline over 10 years	-23.37%	-16.84%	-6.53%
Current Drawdown Current decline from peak	-2.35%	-0.37%	-1.98%
Average Drawdown Average peak-to-trough decline	-5.78%	-4.01%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	0.80%	+1.31%

Volatility

BPGLX vs. UTBPX - Volatility Comparison

UBS Global Allocation Fund (BPGLX) has a higher volatility of 4.22% compared to UBS Multi Income Bond Fund (UTBPX) at 1.25%. This indicates that BPGLX's price experiences larger fluctuations and is considered to be riskier than UTBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPGLX	UTBPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	1.25%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	3.17%	+6.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	3.98%	+7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.75%	4.89%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.85%	4.37%	+6.48%

BPGLX vs. UTBPX - Expense Ratio Comparison

BPGLX has a 0.95% expense ratio, which is lower than UTBPX's 1.72% expense ratio.

Dividends

BPGLX vs. UTBPX - Dividend Comparison

BPGLX's dividend yield for the trailing twelve months is around 1.95%, less than UTBPX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPGLX UBS Global Allocation Fund	1.95%	2.08%	2.02%	2.37%	4.65%	18.98%	1.78%	7.15%	0.00%	1.64%	2.42%	2.83%
UTBPX UBS Multi Income Bond Fund	4.23%	4.18%	4.53%	3.54%	2.84%	1.89%	2.11%	2.80%	3.05%	2.46%	1.68%	0.00%

Frequently Asked Questions

Can I hold both BPGLX and UTBPX in my portfolio?

BPGLX and UTBPX have a correlation of 0.63, 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 UTBPX?

BPGLX has higher volatility (4.22%) compared to UTBPX (1.25%). In terms of maximum drawdown, BPGLX dropped -53.03% vs UTBPX's -16.84%.

Which has better risk-adjusted returns?

BPGLX currently has the higher Sharpe Ratio (1.99 vs 1.45), 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.