PCGTX vs. SBI
PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) and SBI (Western Asset Intermediate Muni Fund Inc.) are both Intermediate Core Bond funds. Over the past 10 years, PCGTX returned 1.57%/yr vs 1.31%/yr for SBI. At a 0.16 correlation, their price movements are largely independent.
Performance
PCGTX vs. SBI - Performance Comparison
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Returns By Period
In the year-to-date period, PCGTX achieves a 3.21% return, which is significantly lower than SBI's 5.27% return. Over the past 10 years, PCGTX has outperformed SBI with an annualized return of 1.57%, while SBI has yielded a comparatively lower 1.31% annualized return.
PCGTX
- 1D
- 0.38%
- 1M
- 0.95%
- YTD
- 3.21%
- 6M
- 3.31%
- 1Y
- 8.64%
- 3Y*
- 4.85%
- 5Y*
- 0.43%
- 10Y*
- 1.57%
SBI
- 1D
- 0.51%
- 1M
- 1.55%
- YTD
- 5.27%
- 6M
- 4.62%
- 1Y
- 12.59%
- 3Y*
- 6.67%
- 5Y*
- 0.54%
- 10Y*
- 1.31%
PCGTX vs. SBI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 3.21% | 7.84% | 0.98% | 5.12% | -13.48% | -0.61% | 5.75% | 6.55% | 0.17% | 2.83% |
SBI Western Asset Intermediate Muni Fund Inc. | 5.27% | 5.95% | 6.83% | 5.37% | -18.45% | 7.91% | 4.62% | 12.78% | -6.59% | 2.42% |
Correlation
The correlation between PCGTX and SBI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 1995 | 0.16 |
The correlation between PCGTX and SBI shifts across timeframes, from 0.16 (all time) to 0.41 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PCGTX vs. SBI — Risk / Return Rank
PCGTX
SBI
PCGTX vs. SBI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and Western Asset Intermediate Muni Fund Inc. (SBI). 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 | SBI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 2.65 | +0.41 |
| Martin ratioReturn relative to average drawdown | 9.97 | 9.30 | +0.67 |
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Drawdowns
PCGTX vs. SBI - Drawdown Comparison
The maximum PCGTX drawdown since its inception was -19.34%, smaller than the maximum SBI drawdown of -33.70%. Use the drawdown chart below to compare losses from any high point for PCGTX and SBI.
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Drawdown Indicators
| PCGTX | SBI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.34% | -33.70% | +14.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -4.77% | +1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -7.94% | -8.90% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -19.20% | -25.21% | +6.01% |
Max Drawdown (10Y)Largest decline over 10 years | -19.34% | -25.21% | +5.87% |
Current DrawdownCurrent decline from peak | -1.12% | 0.00% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -7.68% | +5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.36% | -0.44% |
Volatility
PCGTX vs. SBI - Volatility Comparison
PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) and Western Asset Intermediate Muni Fund Inc. (SBI) have volatilities of 1.65% and 1.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCGTX | SBI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.60% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 5.25% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 6.82% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 8.93% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.40% | 9.75% | -4.35% |
Dividends
PCGTX vs. SBI - Dividend Comparison
PCGTX's dividend yield for the trailing twelve months is around 4.47%, less than SBI's 6.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 4.47% | 3.78% | 5.36% | 5.02% | 3.67% | 2.87% | 3.23% | 3.53% | 3.34% | 2.96% | 2.71% | 2.21% |
SBI Western Asset Intermediate Muni Fund Inc. | 6.40% | 6.56% | 6.23% | 3.76% | 3.72% | 2.93% | 3.07% | 3.59% | 4.32% | 4.58% | 5.01% | 4.70% |
Frequently Asked Questions
PCGTX and SBI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCGTX has higher volatility (1.65%) compared to SBI (1.60%). In terms of maximum drawdown, PCGTX dropped -19.34% vs SBI's -33.70%.
SBI currently has the higher Sharpe Ratio (1.86 vs 1.68), 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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