PCIEX vs. PWTYX

Last updated Jun 24, 2026

PCIEX (PACE International Equity Investments) and PWTYX (UBS U.S. Allocation Fund) are both mutual funds - PCIEX is a Foreign Large Cap Equities fund managed by UBS, while PWTYX is a Diversified Portfolio fund managed by UBS. Over the past 10 years, PCIEX returned 10.79%/yr vs 10.13%/yr for PWTYX. A 0.59 correlation means they provide meaningful diversification when combined. PCIEX charges 1.33%/yr vs 0.70%/yr for PWTYX.

Performance

PCIEX vs. PWTYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE International Equity Investments (PCIEX) and UBS U.S. Allocation Fund (PWTYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCIEX achieves a 8.11% return, which is significantly higher than PWTYX's 7.11% return. Over the past 10 years, PCIEX has outperformed PWTYX with an annualized return of 10.79%, while PWTYX has yielded a comparatively lower 10.13% annualized return.

PCIEX

• 1D: 0.15%
• 1M: 1.37%
• YTD: 8.11%
• 6M: 7.77%
• 1Y: 23.53%
• 3Y*: 18.48%
• 5Y*: 10.26%
• 10Y*: 10.79%

PWTYX

• 1D: -0.44%
• 1M: 1.03%
• YTD: 7.11%
• 6M: 6.52%
• 1Y: 19.94%
• 3Y*: 14.43%
• 5Y*: 7.63%
• 10Y*: 10.13%

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

PCIEX vs. PWTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCIEX PACE International Equity Investments	8.11%	35.07%	6.07%	20.38%	-14.16%	12.33%	11.17%	19.09%	-13.58%	25.49%
PWTYX UBS U.S. Allocation Fund	7.11%	13.28%	14.01%	17.73%	-17.04%	16.19%	17.66%	23.75%	-7.80%	15.77%

Correlation

The correlation between PCIEX and PWTYX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 18, 1995	0.59

The correlation between PCIEX and PWTYX shifts across timeframes, from 0.59 (all time) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PCIEX vs. PWTYX — Risk / Return Rank

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

PCIEX

PCIEX Risk / Return Rank: 48
PCIEX Sharpe Ratio Rank: 49
PCIEX Sortino Ratio Rank: 48
PCIEX Omega Ratio Rank: 52
PCIEX Calmar Ratio Rank: 45
PCIEX Martin Ratio Rank: 47

PWTYX

PWTYX Risk / Return Rank: 63
PWTYX Sharpe Ratio Rank: 63
PWTYX Sortino Ratio Rank: 64
PWTYX Omega Ratio Rank: 59
PWTYX Calmar Ratio Rank: 61
PWTYX Martin Ratio Rank: 67

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.

PCIEX vs. PWTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE International Equity Investments (PCIEX) and UBS U.S. Allocation Fund (PWTYX). 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.

	PCIEX	PWTYX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.14	-0.22
Sortino ratio: Return per unit of downside risk	2.68	3.05	-0.37
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	2.43	2.86	-0.43
Martin ratio: Return relative to average drawdown	9.28	12.15	-2.87

PCIEX vs. PWTYX - Sharpe Ratio Comparison

The current PCIEX Sharpe Ratio is 1.92, which is comparable to the PWTYX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PCIEX and PWTYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCIEX vs. PWTYX - Drawdown Comparison

The maximum PCIEX drawdown since its inception was -61.66%, which is greater than PWTYX's maximum drawdown of -51.86%. Use the drawdown chart below to compare losses from any high point for PCIEX and PWTYX.

Drawdown Indicators

	PCIEX	PWTYX	Difference
Max Drawdown Largest peak-to-trough decline	-61.66%	-51.86%	-9.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.81%	-7.87%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-15.32%	-19.40%	+4.08%
Max Drawdown (5Y) Largest decline over 5 years	-28.28%	-21.84%	-6.44%
Max Drawdown (10Y) Largest decline over 10 years	-36.04%	-25.34%	-10.70%
Current Drawdown Current decline from peak	-0.19%	-1.15%	+0.96%
Average Drawdown Average peak-to-trough decline	-16.47%	-7.60%	-8.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	1.79%	+0.96%

Volatility

PCIEX vs. PWTYX - Volatility Comparison

PACE International Equity Investments (PCIEX) has a higher volatility of 4.46% compared to UBS U.S. Allocation Fund (PWTYX) at 4.13%. This indicates that PCIEX's price experiences larger fluctuations and is considered to be riskier than PWTYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCIEX	PWTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	4.13%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	8.74%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	10.55%	+3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	13.29%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	12.99%	+3.56%

PCIEX vs. PWTYX - Expense Ratio Comparison

PCIEX has a 1.33% expense ratio, which is higher than PWTYX's 0.70% expense ratio.

Dividends

PCIEX vs. PWTYX - Dividend Comparison

PCIEX's dividend yield for the trailing twelve months is around 11.89%, more than PWTYX's 8.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCIEX PACE International Equity Investments	11.89%	12.85%	13.58%	4.22%	3.30%	8.10%	1.35%	2.77%	8.79%	2.13%	2.34%	1.74%
PWTYX UBS U.S. Allocation Fund	8.76%	9.38%	8.32%	1.61%	9.95%	16.86%	5.85%	2.22%	11.82%	2.53%	0.68%	0.00%

Frequently Asked Questions

Can I hold both PCIEX and PWTYX in my portfolio?

PCIEX and PWTYX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCIEX or PWTYX?

PCIEX has higher volatility (4.46%) compared to PWTYX (4.13%). In terms of maximum drawdown, PCIEX dropped -61.66% vs PWTYX's -51.86%.

Which has better risk-adjusted returns?

PWTYX currently has the higher Sharpe Ratio (2.14 vs 1.92), 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.