PCGTX vs. PCMNX
Compare and contrast key facts about PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and PACE Municipal Fixed Income Investments (PCMNX).
PCGTX is managed by UBS. It was launched on Aug 24, 1995. PCMNX is managed by UBS. It was launched on Aug 23, 1995.
Performance
PCGTX vs. PCMNX - Performance Comparison
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PCGTX vs. PCMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 2.45% | 7.84% | 0.98% | 5.12% | -13.48% | -0.61% | 5.75% | 6.55% | 0.17% | 2.83% |
PCMNX PACE Municipal Fixed Income Investments | -0.51% | 4.52% | 0.85% | 5.54% | -7.30% | 0.70% | 4.63% | 7.32% | 0.85% | 4.71% |
Returns By Period
In the year-to-date period, PCGTX achieves a 2.45% return, which is significantly higher than PCMNX's -0.51% return. Over the past 10 years, PCGTX has underperformed PCMNX with an annualized return of 1.61%, while PCMNX has yielded a comparatively higher 1.82% annualized 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%
PCMNX
- 1D
- 0.08%
- 1M
- -2.61%
- YTD
- -0.51%
- 6M
- 1.18%
- 1Y
- 4.40%
- 3Y*
- 2.64%
- 5Y*
- 0.75%
- 10Y*
- 1.82%
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PCGTX vs. PCMNX - Expense Ratio Comparison
PCGTX has a 0.73% expense ratio, which is higher than PCMNX's 0.57% expense ratio.
Return for Risk
PCGTX vs. PCMNX — Risk / Return Rank
PCGTX
PCMNX
PCGTX vs. PCMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and PACE Municipal Fixed Income Investments (PCMNX). 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 | PCMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 1.31 | +0.08 |
Sortino ratioReturn per unit of downside risk | 2.24 | 1.72 | +0.52 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.38 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.45 | 0.58 | +1.87 |
Martin ratioReturn relative to average drawdown | 7.00 | 1.91 | +5.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PCGTX | PCMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 1.31 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.25 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.55 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 1.25 | -0.28 |
Correlation
The correlation between PCGTX and PCMNX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PCGTX vs. PCMNX - Dividend Comparison
PCGTX's dividend yield for the trailing twelve months is around 4.44%, more than PCMNX's 2.82% 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% |
PCMNX PACE Municipal Fixed Income Investments | 2.82% | 2.49% | 2.58% | 2.37% | 2.30% | 2.38% | 2.47% | 3.41% | 3.11% | 2.89% | 3.33% | 3.23% |
Drawdowns
PCGTX vs. PCMNX - Drawdown Comparison
The maximum PCGTX drawdown since its inception was -19.34%, which is greater than PCMNX's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for PCGTX and PCMNX.
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Drawdown Indicators
| PCGTX | PCMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.34% | -11.62% | -7.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.78% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -19.20% | -11.62% | -7.58% |
Max Drawdown (10Y)Largest decline over 10 years | -19.34% | -11.62% | -7.72% |
Current DrawdownCurrent decline from peak | -1.85% | -2.61% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -1.39% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.32% | -0.23% |
Volatility
PCGTX vs. PCMNX - Volatility Comparison
PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) has a higher volatility of 2.13% compared to PACE Municipal Fixed Income Investments (PCMNX) at 1.00%. This indicates that PCGTX's price experiences larger fluctuations and is considered to be riskier than PCMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCGTX | PCMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 1.00% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 1.46% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.23% | 3.85% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.10% | 3.04% | +4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 3.34% | +2.01% |