PCGTX vs. EMPTX
PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) and EMPTX (UBS Emerging Markets Equity Opportunity Fund) are both mutual funds - PCGTX is a Intermediate Core Bond fund managed by UBS, while EMPTX is a Emerging Markets Equities fund managed by UBS. Over the past 5 years, PCGTX returned 0.06%/yr vs 6.51%/yr for EMPTX. Their 0.08 correlation means their historical movements had little consistent relationship. PCGTX charges 0.73%/yr vs 0.19%/yr for EMPTX.
Performance
PCGTX vs. EMPTX - Performance Comparison
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Returns By Period
In the year-to-date period, PCGTX achieves a 2.13% return, which is significantly lower than EMPTX's 19.01% return.
PCGTX
- 1D
- 0.10%
- 1M
- -0.77%
- 6M
- 1.76%
- YTD
- 2.13%
- 1Y
- 6.85%
- 3Y*
- 4.65%
- 5Y*
- 0.06%
- 10Y*
- 1.38%
- ALL TIME*
- 3.97%
EMPTX
- 1D
- 4.95%
- 1M
- -3.02%
- 6M
- 7.56%
- YTD
- 19.01%
- 1Y
- 42.03%
- 3Y*
- 20.39%
- 5Y*
- 6.51%
- 10Y*
- —
- ALL TIME*
- 7.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PCGTX vs. EMPTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 2.13% | 7.84% | 0.98% | 5.12% | -13.48% | -0.61% | 5.75% | 6.55% | 1.96% |
EMPTX UBS Emerging Markets Equity Opportunity Fund | 19.01% | 43.82% | 2.51% | 8.92% | -25.38% | -9.36% | 24.79% | 14.98% | 0.55% |
Correlation
The correlation between PCGTX and EMPTX is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2018 | 0.08 |
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Return for Risk
PCGTX vs. EMPTX — Risk / Return Rank
PCGTX
EMPTX
PCGTX vs. EMPTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). 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.
| PCGTX | EMPTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.33 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.98 | -0.62 |
| Martin ratioReturn relative to average drawdown | 6.55 | 9.46 | -2.91 |
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Drawdowns
PCGTX vs. EMPTX - Drawdown Comparison
The maximum PCGTX drawdown since its inception was -19.34%, smaller than the maximum EMPTX drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for PCGTX and EMPTX.
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Drawdown Indicators
| PCGTX | EMPTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.34% | -46.03% | +26.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -14.50% | +11.41% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -15.50% | +8.70% |
Max Drawdown (5Y)Largest decline over 5 years | -19.20% | -38.78% | +19.58% |
Max Drawdown (10Y)Largest decline over 10 years | -19.34% | — | — |
Current DrawdownCurrent decline from peak | -2.16% | -9.54% | +7.38% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -18.12% | +16.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 4.44% | -3.35% |
Volatility
PCGTX vs. EMPTX - Volatility Comparison
The current volatility for PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) is 1.40%, while UBS Emerging Markets Equity Opportunity Fund (EMPTX) has a volatility of 10.24%. This indicates that PCGTX experiences smaller price fluctuations and is considered to be less risky than EMPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCGTX | EMPTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 10.24% | -8.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 21.53% | -16.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.63% | 23.77% | -18.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 20.22% | -13.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 19.88% | -14.46% |
PCGTX vs. EMPTX - Expense Ratio Comparison
PCGTX has a 0.73% expense ratio, which is higher than EMPTX's 0.19% expense ratio.
Dividends
PCGTX vs. EMPTX - Dividend Comparison
PCGTX's dividend yield for the trailing twelve months is around 4.22%, more than EMPTX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMPTX UBS Emerging Markets Equity Opportunity Fund | 1.61% | 1.91% | 3.40% | 3.20% | 3.84% | 11.93% | 1.50% | 2.75% | 0.54% | 0.00% | 0.00% | 0.00% |
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 4.22% | 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
PCGTX and EMPTX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMPTX has higher volatility (10.24%) compared to PCGTX (1.40%). In terms of maximum drawdown, PCGTX dropped -19.34% vs EMPTX's -46.03%.
EMPTX currently has the higher Sharpe Ratio (1.82 vs 1.30), 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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