PCGLX vs. VTABX
PCGLX (PACE Global Fixed Income Investments) and VTABX (Vanguard Total International Bond Index Fund Admiral Shares) are both Global Bonds funds. Over the past 10 years, PCGLX returned -0.10%/yr vs 1.83%/yr for VTABX. A 0.58 correlation means they provide meaningful diversification when combined. PCGLX charges 0.84%/yr vs 0.10%/yr for VTABX.
Performance
PCGLX vs. VTABX - Performance Comparison
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Returns By Period
In the year-to-date period, PCGLX achieves a -0.19% return, which is significantly lower than VTABX's 1.08% return. Over the past 10 years, PCGLX has underperformed VTABX with an annualized return of -0.10%, while VTABX has yielded a comparatively higher 1.83% annualized return.
PCGLX
- 1D
- 0.00%
- 1M
- 0.64%
- YTD
- -0.19%
- 6M
- 0.18%
- 1Y
- 2.39%
- 3Y*
- 2.88%
- 5Y*
- -1.81%
- 10Y*
- -0.10%
VTABX
- 1D
- 0.00%
- 1M
- 1.07%
- YTD
- 1.08%
- 6M
- 1.45%
- 1Y
- 2.37%
- 3Y*
- 4.40%
- 5Y*
- 0.45%
- 10Y*
- 1.83%
PCGLX vs. VTABX - 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% |
VTABX Vanguard Total International Bond Index Fund Admiral Shares | 1.08% | 2.96% | 3.92% | 8.77% | -12.92% | -2.22% | 4.54% | 8.83% | 2.97% | 2.39% |
Correlation
The correlation between PCGLX and VTABX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.58 |
The correlation between PCGLX and VTABX shifts across timeframes, from 0.58 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PCGLX vs. VTABX — Risk / Return Rank
PCGLX
VTABX
PCGLX vs. VTABX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE Global Fixed Income Investments (PCGLX) and Vanguard Total International Bond Index Fund Admiral Shares (VTABX). 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.
| PCGLX | VTABX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.14 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 0.80 | -0.23 |
| Martin ratioReturn relative to average drawdown | 1.52 | 2.18 | -0.67 |
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Drawdowns
PCGLX vs. VTABX - Drawdown Comparison
The maximum PCGLX drawdown since its inception was -24.81%, which is greater than VTABX's maximum drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for PCGLX and VTABX.
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Drawdown Indicators
| PCGLX | VTABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.81% | -16.16% | -8.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -2.90% | -1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -7.41% | -2.90% | -4.51% |
Max Drawdown (5Y)Largest decline over 5 years | -23.63% | -15.81% | -7.82% |
Max Drawdown (10Y)Largest decline over 10 years | -24.81% | -16.16% | -8.65% |
Current DrawdownCurrent decline from peak | -11.22% | -0.79% | -10.43% |
Average DrawdownAverage peak-to-trough decline | -6.50% | -3.04% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.07% | +0.57% |
Volatility
PCGLX vs. VTABX - Volatility Comparison
PACE Global Fixed Income Investments (PCGLX) has a higher volatility of 1.52% compared to Vanguard Total International Bond Index Fund Admiral Shares (VTABX) at 1.01%. This indicates that PCGLX's price experiences larger fluctuations and is considered to be riskier than VTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCGLX | VTABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.01% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 2.62% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.53% | 3.07% | +2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.36% | 4.45% | +1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 3.62% | +2.10% |
PCGLX vs. VTABX - Expense Ratio Comparison
PCGLX has a 0.84% expense ratio, which is higher than VTABX's 0.10% expense ratio.
Dividends
PCGLX vs. VTABX - Dividend Comparison
PCGLX's dividend yield for the trailing twelve months is around 3.80%, less than VTABX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VTABX Vanguard Total International Bond Index Fund Admiral Shares | 4.44% | 4.36% | 4.33% | 4.39% | 1.48% | 3.70% | 1.08% | 4.28% | 3.00% | 2.23% | 1.80% | 1.64% |
Frequently Asked Questions
PCGLX and VTABX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCGLX has higher volatility (1.52%) compared to VTABX (1.01%). In terms of maximum drawdown, PCGLX dropped -24.81% vs VTABX's -16.16%.
VTABX currently has the higher Sharpe Ratio (0.76 vs 0.47), 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.
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