PCLVX vs. PCGTX

Last updated Jun 3, 2026

PCLVX (PACE Large Co Value Equity Investments) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both mutual funds - PCLVX is a Large Cap Value Equities fund managed by UBS, while PCGTX is a Intermediate Core Bond fund managed by UBS. Over the past 10 years, PCLVX returned 10.77%/yr vs 1.55%/yr for PCGTX. At a correlation of -0.04, they often move in opposite directions. PCLVX charges 1.07%/yr vs 0.73%/yr for PCGTX.

Performance

PCLVX vs. PCGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Large Co Value Equity Investments (PCLVX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCLVX achieves a 10.28% return, which is significantly higher than PCGTX's 3.02% return. Over the past 10 years, PCLVX has outperformed PCGTX with an annualized return of 10.77%, while PCGTX has yielded a comparatively lower 1.55% annualized return.

PCLVX

• 1D: 0.51%
• 1M: 3.15%
• YTD: 10.28%
• 6M: 13.26%
• 1Y: 25.65%
• 3Y*: 18.75%
• 5Y*: 11.23%
• 10Y*: 10.77%

PCGTX

• 1D: 0.00%
• 1M: 0.49%
• YTD: 3.02%
• 6M: 3.30%
• 1Y: 9.62%
• 3Y*: 4.98%
• 5Y*: 0.34%
• 10Y*: 1.55%

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

PCLVX vs. PCGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCLVX PACE Large Co Value Equity Investments	10.28%	20.38%	13.78%	15.37%	-5.14%	25.62%	-2.37%	23.07%	-10.66%	12.29%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	3.02%	7.84%	0.98%	5.12%	-13.48%	-0.61%	5.75%	6.55%	0.17%	2.83%

Correlation

The correlation between PCLVX and PCGTX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Aug 21, 1995	-0.04

The correlation between PCLVX and PCGTX shifts across timeframes, from -0.04 (all time) to 0.23 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PCLVX vs. PCGTX — Risk / Return Rank

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

PCLVX

PCLVX Risk / Return Rank: 78
PCLVX Sharpe Ratio Rank: 81
PCLVX Sortino Ratio Rank: 79
PCLVX Omega Ratio Rank: 67
PCLVX Calmar Ratio Rank: 83
PCLVX Martin Ratio Rank: 81

PCGTX

PCGTX Risk / Return Rank: 55
PCGTX Sharpe Ratio Rank: 39
PCGTX Sortino Ratio Rank: 56
PCGTX Omega Ratio Rank: 52
PCGTX Calmar Ratio Rank: 73
PCGTX Martin Ratio Rank: 57

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.

PCLVX vs. PCGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Large Co Value Equity Investments (PCLVX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). 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.

	PCLVX	PCGTX	Difference
Sharpe ratio Return per unit of total volatility	2.62	1.81	+0.81
Sortino ratio Return per unit of downside risk	3.74	3.16	+0.58
Omega ratio Gain probability vs. loss probability	1.46	1.40	+0.06
Calmar ratio Return relative to maximum drawdown	3.87	3.33	+0.55
Martin ratio Return relative to average drawdown	15.23	11.48	+3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCLVX vs. PCGTX - Sharpe Ratio Comparison

The current PCLVX Sharpe Ratio is 2.62, which is higher than the PCGTX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of PCLVX and PCGTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PCLVX	PCGTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.81	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.05	+0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.29	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.96	-0.50

Drawdowns

PCLVX vs. PCGTX - Drawdown Comparison

The maximum PCLVX drawdown since its inception was -59.05%, which is greater than PCGTX's maximum drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for PCLVX and PCGTX.

Drawdown Indicators

	PCLVX	PCGTX	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-19.34%	-39.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-3.09%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-7.94%	-8.60%
Max Drawdown (5Y) Largest decline over 5 years	-18.49%	-19.20%	+0.71%
Max Drawdown (10Y) Largest decline over 10 years	-42.18%	-19.34%	-22.84%
Current Drawdown Current decline from peak	0.00%	-1.31%	+1.31%
Average Drawdown Average peak-to-trough decline	-9.35%	-1.85%	-7.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	0.92%	+0.98%

Volatility

PCLVX vs. PCGTX - Volatility Comparison

PACE Large Co Value Equity Investments (PCLVX) has a higher volatility of 2.47% compared to PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) at 1.85%. This indicates that PCLVX's price experiences larger fluctuations and is considered to be riskier than PCGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLVX	PCGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	1.85%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	4.40%	+3.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	5.67%	+5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	7.16%	+8.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	5.39%	+13.04%

PCLVX vs. PCGTX - Expense Ratio Comparison

PCLVX has a 1.07% expense ratio, which is higher than PCGTX's 0.73% expense ratio.

Dividends

PCLVX vs. PCGTX - Dividend Comparison

PCLVX's dividend yield for the trailing twelve months is around 12.17%, more than PCGTX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	4.48%	3.78%	5.36%	5.02%	3.67%	2.87%	3.23%	3.53%	3.34%	2.96%	2.71%	2.21%
PCLVX PACE Large Co Value Equity Investments	12.17%	13.43%	10.09%	5.34%	17.37%	19.81%	1.42%	5.95%	11.80%	7.23%	2.75%	14.55%

Frequently Asked Questions

Can I hold both PCLVX and PCGTX in my portfolio?

PCLVX and PCGTX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCLVX or PCGTX?

PCLVX has higher volatility (2.47%) compared to PCGTX (1.85%). In terms of maximum drawdown, PCLVX dropped -59.05% vs PCGTX's -19.34%.

Which has better risk-adjusted returns?

PCLVX currently has the higher Sharpe Ratio (2.62 vs 1.81), 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.