PCGLX vs. BPGLX

Last updated Jun 3, 2026

PCGLX (PACE Global Fixed Income Investments) and BPGLX (UBS Global Allocation Fund) are both mutual funds - PCGLX is a Global Bonds fund managed by UBS, while BPGLX is a Global Allocation fund managed by UBS. Over the past 10 years, PCGLX returned 0.00%/yr vs 7.54%/yr for BPGLX. At a 0.26 correlation, their price movements are largely independent. PCGLX charges 0.84%/yr vs 0.95%/yr for BPGLX.

Performance

PCGLX vs. BPGLX - Performance Comparison

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

Returns By Period

In the year-to-date period, PCGLX achieves a -0.19% return, which is significantly lower than BPGLX's 8.64% return.

PCGLX

• 1D: -0.38%
• 1M: 0.32%
• YTD: -0.19%
• 6M: 0.37%
• 1Y: 2.52%
• 3Y*: 3.09%
• 5Y*: -1.96%
• 10Y*: 0.00%

BPGLX

• 1D: 0.14%
• 1M: 3.56%
• YTD: 8.64%
• 6M: 9.88%
• 1Y: 25.03%
• 3Y*: 14.59%
• 5Y*: 5.49%
• 10Y*: 7.54%

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

PCGLX vs. BPGLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCGLX PACE Global Fixed Income Investments	-0.19%	7.59%	-1.98%	4.34%	-15.58%	-3.99%	10.23%	6.93%	-3.17%	6.80%
BPGLX UBS Global Allocation Fund	8.64%	19.02%	8.56%	9.69%	-16.82%	8.09%	13.84%	19.05%	-7.56%	17.08%

Correlation

The correlation between PCGLX and BPGLX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jun 21, 1996	0.26

Over the past year, PCGLX and BPGLX have become more correlated (0.70) than their long-term average of 0.26, meaning their price movements have been converging.

Return for Risk

PCGLX vs. BPGLX — Risk / Return Rank

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

PCGLX

PCGLX Risk / Return Rank: 6
PCGLX Sharpe Ratio Rank: 7
PCGLX Sortino Ratio Rank: 6
PCGLX Omega Ratio Rank: 6
PCGLX Calmar Ratio Rank: 7
PCGLX Martin Ratio Rank: 7

BPGLX

BPGLX Risk / Return Rank: 77
BPGLX Sharpe Ratio Rank: 84
BPGLX Sortino Ratio Rank: 80
BPGLX Omega Ratio Rank: 79
BPGLX Calmar Ratio Rank: 68
BPGLX Martin Ratio Rank: 73

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.

PCGLX vs. BPGLX - Risk-Adjusted Trends Comparison

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

	PCGLX	BPGLX	Difference
Sharpe ratio Return per unit of total volatility	0.54	2.71	-2.17
Sortino ratio Return per unit of downside risk	0.84	3.78	-2.94
Omega ratio Gain probability vs. loss probability	1.10	1.52	-0.42
Calmar ratio Return relative to maximum drawdown	0.68	3.19	-2.50
Martin ratio Return relative to average drawdown	1.97	13.90	-11.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCGLX vs. BPGLX - Sharpe Ratio Comparison

The current PCGLX Sharpe Ratio is 0.54, which is lower than the BPGLX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of PCGLX and BPGLX, 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

	PCGLX	BPGLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	2.71	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	0.53	-0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.00	0.70	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.52	-0.09

Drawdowns

PCGLX vs. BPGLX - Drawdown Comparison

The maximum PCGLX drawdown since its inception was -24.81%, smaller than the maximum BPGLX drawdown of -53.03%. Use the drawdown chart below to compare losses from any high point for PCGLX and BPGLX.

Drawdown Indicators

	PCGLX	BPGLX	Difference
Max Drawdown Largest peak-to-trough decline	-24.81%	-53.03%	+28.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.52%	-8.99%	+4.47%
Max Drawdown (3Y) Largest decline over 3 years	-7.41%	-11.25%	+3.84%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-22.24%	-1.39%
Max Drawdown (10Y) Largest decline over 10 years	-24.81%	-23.37%	-1.44%
Current Drawdown Current decline from peak	-11.22%	0.00%	-11.22%
Average Drawdown Average peak-to-trough decline	-6.49%	-5.78%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	2.06%	-0.49%

Volatility

PCGLX vs. BPGLX - Volatility Comparison

The current volatility for PACE Global Fixed Income Investments (PCGLX) is 1.79%, while UBS Global Allocation Fund (BPGLX) has a volatility of 2.77%. This indicates that PCGLX experiences smaller price fluctuations and is considered to be less risky than BPGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCGLX	BPGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.79%	2.77%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	4.03%	8.60%	-4.57%
Volatility (1Y) Calculated over the trailing 1-year period	5.52%	10.34%	-4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	10.62%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.76%	10.83%	-5.07%

PCGLX vs. BPGLX - Expense Ratio Comparison

PCGLX has a 0.84% expense ratio, which is lower than BPGLX's 0.95% expense ratio.

Dividends

PCGLX vs. BPGLX - Dividend Comparison

PCGLX's dividend yield for the trailing twelve months is around 3.80%, more than BPGLX's 1.91% 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%
PCGLX PACE Global Fixed Income Investments	3.80%	3.37%	3.74%	3.31%	1.82%	4.74%	3.41%	1.89%	1.81%	1.46%	3.14%	3.30%

Frequently Asked Questions

Can I hold both PCGLX and BPGLX in my portfolio?

PCGLX and BPGLX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCGLX or BPGLX?

BPGLX has higher volatility (2.77%) compared to PCGLX (1.79%). In terms of maximum drawdown, PCGLX dropped -24.81% vs BPGLX's -53.03%.

Which has better risk-adjusted returns?

BPGLX currently has the higher Sharpe Ratio (2.71 vs 0.54), 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.