PCGTX vs. FSMOX

Last updated Apr 1, 2026

Compare and contrast key facts about PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX).

PCGTX is managed by UBS. It was launched on Aug 24, 1995. FSMOX is managed by Fidelity. It was launched on May 17, 2023.

Performance

PCGTX vs. FSMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). The values are adjusted to include any dividend payments, if applicable.

PCGTX vs. FSMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	2.45%	7.84%	0.98%	2.63%
FSMOX Fidelity SAI Investment Grade Securitized Fund	-0.05%	8.52%	1.45%	1.16%

Returns By Period

In the year-to-date period, PCGTX achieves a 2.45% return, which is significantly higher than FSMOX's -0.05% return.

PCGTX

• 1D: 0.76%
• 1M: -1.85%
• YTD: 2.45%
• 6M: 4.22%
• 1Y: 7.91%
• 3Y*: 4.61%
• 5Y*: 0.31%
• 10Y*: 1.61%

FSMOX

• 1D: 0.40%
• 1M: -2.17%
• YTD: -0.05%
• 6M: 1.49%
• 1Y: 5.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCGTX vs. FSMOX - Expense Ratio Comparison

PCGTX has a 0.73% expense ratio, which is higher than FSMOX's 0.33% expense ratio.

PCGTX

PACE Mortgage-Backed Securities Fixed Income Investments

FSMOX

Fidelity SAI Investment Grade Securitized Fund

Return for Risk

PCGTX vs. FSMOX — Risk / Return Rank

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

PCGTX

PCGTX Risk / Return Rank: 80
PCGTX Sharpe Ratio Rank: 77
PCGTX Sortino Ratio Rank: 85
PCGTX Omega Ratio Rank: 75
PCGTX Calmar Ratio Rank: 89
PCGTX Martin Ratio Rank: 73

FSMOX

FSMOX Risk / Return Rank: 68
FSMOX Sharpe Ratio Rank: 70
FSMOX Sortino Ratio Rank: 71
FSMOX Omega Ratio Rank: 56
FSMOX Calmar Ratio Rank: 84
FSMOX Martin Ratio Rank: 61

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.

PCGTX vs. FSMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). 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.

	PCGTX	FSMOX	Difference
Sharpe ratio Return per unit of total volatility	1.39	1.25	+0.14
Sortino ratio Return per unit of downside risk	2.24	1.79	+0.45
Omega ratio Gain probability vs. loss probability	1.29	1.22	+0.06
Calmar ratio Return relative to maximum drawdown	2.45	2.08	+0.37
Martin ratio Return relative to average drawdown	7.00	5.84	+1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCGTX vs. FSMOX - Sharpe Ratio Comparison

The current PCGTX Sharpe Ratio is 1.39, which is comparable to the FSMOX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of PCGTX and FSMOX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PCGTX	FSMOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.25	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.61	+0.36

Correlation

The correlation between PCGTX and FSMOX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PCGTX vs. FSMOX - Dividend Comparison

PCGTX's dividend yield for the trailing twelve months is around 4.44%, more than FSMOX's 4.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	4.44%	3.78%	5.36%	5.02%	3.67%	2.87%	3.23%	3.53%	3.34%	2.96%	2.71%	2.21%
FSMOX Fidelity SAI Investment Grade Securitized Fund	4.08%	4.44%	5.07%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PCGTX vs. FSMOX - Drawdown Comparison

The maximum PCGTX drawdown since its inception was -19.34%, which is greater than FSMOX's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for PCGTX and FSMOX.

Drawdown Indicators

	PCGTX	FSMOX	Difference
Max Drawdown Largest peak-to-trough decline	-19.34%	-8.65%	-10.69%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-2.96%	-0.14%
Max Drawdown (5Y) Largest decline over 5 years	-19.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.34%	—	—
Current Drawdown Current decline from peak	-1.85%	-2.17%	+0.32%
Average Drawdown Average peak-to-trough decline	-1.86%	-1.78%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.05%	+0.04%

Volatility

PCGTX vs. FSMOX - Volatility Comparison

PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) has a higher volatility of 2.13% compared to Fidelity SAI Investment Grade Securitized Fund (FSMOX) at 1.54%. This indicates that PCGTX's price experiences larger fluctuations and is considered to be riskier than FSMOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCGTX	FSMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	1.54%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	4.13%	2.62%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	6.23%	4.63%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.10%	6.30%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.35%	6.30%	-0.95%