PCMNX vs. BBBS

Last updated Jun 23, 2026

PCMNX (PACE Municipal Fixed Income Investments) and BBBS (Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF) are both funds - PCMNX is a Municipal Bonds fund managed by UBS, while BBBS is a Short-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 1-5 Year Index. Over the past year, PCMNX returned 6.32% vs 4.14% for BBBS. At a 0.47 correlation, their price movements are largely independent. PCMNX charges 0.57%/yr vs 0.19%/yr for BBBS.

Performance

PCMNX vs. BBBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Municipal Fixed Income Investments (PCMNX) and Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCMNX achieves a 1.44% return, which is significantly higher than BBBS's 0.68% return.

PCMNX

• 1D: 0.08%
• 1M: 1.31%
• YTD: 1.44%
• 6M: 1.61%
• 1Y: 6.32%
• 3Y*: 3.46%
• 5Y*: 0.91%
• 10Y*: 1.86%

BBBS

• 1D: -0.10%
• 1M: 0.27%
• YTD: 0.68%
• 6M: 0.95%
• 1Y: 4.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCMNX vs. BBBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PCMNX PACE Municipal Fixed Income Investments	1.44%	4.52%	1.72%
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	0.68%	6.67%	4.97%

Correlation

The correlation between PCMNX and BBBS is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	0.47

Return for Risk

PCMNX vs. BBBS — Risk / Return Rank

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

PCMNX

PCMNX Risk / Return Rank: 74
PCMNX Sharpe Ratio Rank: 95
PCMNX Sortino Ratio Rank: 94
PCMNX Omega Ratio Rank: 96
PCMNX Calmar Ratio Rank: 48
PCMNX Martin Ratio Rank: 37

BBBS

BBBS Risk / Return Rank: 70
BBBS Sharpe Ratio Rank: 71
BBBS Sortino Ratio Rank: 80
BBBS Omega Ratio Rank: 77
BBBS Calmar Ratio Rank: 60
BBBS Martin Ratio Rank: 65

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.

PCMNX vs. BBBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Municipal Fixed Income Investments (PCMNX) and Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS). 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.

	PCMNX	BBBS	Difference
Sharpe ratio: Return per unit of total volatility	3.03	2.20	+0.83
Sortino ratio: Return per unit of downside risk	4.62	3.38	+1.23
Omega ratio: Gain probability vs. loss probability	1.83	1.44	+0.39
Calmar ratio: Return relative to maximum drawdown	2.54	2.87	-0.33
Martin ratio: Return relative to average drawdown	7.66	11.59	-3.92

PCMNX vs. BBBS - Sharpe Ratio Comparison

The current PCMNX Sharpe Ratio is 3.03, which is higher than the BBBS Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of PCMNX and BBBS, 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

PCMNX vs. BBBS - Drawdown Comparison

The maximum PCMNX drawdown since its inception was -11.62%, which is greater than BBBS's maximum drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for PCMNX and BBBS.

Drawdown Indicators

	PCMNX	BBBS	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-1.45%	-10.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	-1.45%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-4.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-11.62%	—	—
Current Drawdown Current decline from peak	-0.70%	-0.29%	-0.41%
Average Drawdown Average peak-to-trough decline	-1.39%	-0.28%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.36%	+0.50%

Volatility

PCMNX vs. BBBS - Volatility Comparison

The current volatility for PACE Municipal Fixed Income Investments (PCMNX) is 0.53%, while Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS) has a volatility of 0.63%. This indicates that PCMNX experiences smaller price fluctuations and is considered to be less risky than BBBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCMNX	BBBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	0.63%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	1.45%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	2.25%	1.90%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	2.24%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	2.24%	+1.11%

PCMNX vs. BBBS - Expense Ratio Comparison

PCMNX has a 0.57% expense ratio, which is higher than BBBS's 0.19% expense ratio.

Dividends

PCMNX vs. BBBS - Dividend Comparison

PCMNX's dividend yield for the trailing twelve months is around 2.82%, less than BBBS's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	4.58%	4.55%	4.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both PCMNX and BBBS in my portfolio?

PCMNX and BBBS have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCMNX or BBBS?

BBBS has higher volatility (0.63%) compared to PCMNX (0.53%). In terms of maximum drawdown, PCMNX dropped -11.62% vs BBBS's -1.45%.

Which has better risk-adjusted returns?

PCMNX currently has the higher Sharpe Ratio (3.03 vs 2.20), 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.