PCMNX vs. NMTRX
Compare and contrast key facts about PACE Municipal Fixed Income Investments (PCMNX) and Nuveen Municipal Total Return Managed Accounts (NMTRX).
PCMNX is managed by UBS. It was launched on Aug 23, 1995. NMTRX is managed by BlackRock. It was launched on May 30, 2007.
Performance
PCMNX vs. NMTRX - Performance Comparison
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PCMNX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCMNX PACE Municipal Fixed Income Investments | -0.26% | 4.52% | 0.85% | 5.54% | -7.30% | 0.70% | 4.63% | 7.32% | 0.85% | 4.71% |
NMTRX Nuveen Municipal Total Return Managed Accounts | -0.12% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Returns By Period
In the year-to-date period, PCMNX achieves a -0.26% return, which is significantly lower than NMTRX's -0.12% return. Over the past 10 years, PCMNX has underperformed NMTRX with an annualized return of 1.84%, while NMTRX has yielded a comparatively higher 2.27% annualized return.
PCMNX
- 1D
- 0.25%
- 1M
- -2.14%
- YTD
- -0.26%
- 6M
- 1.34%
- 1Y
- 4.31%
- 3Y*
- 2.72%
- 5Y*
- 0.78%
- 10Y*
- 1.84%
NMTRX
- 1D
- 0.20%
- 1M
- -1.97%
- YTD
- -0.12%
- 6M
- 1.65%
- 1Y
- 3.78%
- 3Y*
- 3.22%
- 5Y*
- 0.38%
- 10Y*
- 2.27%
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PCMNX vs. NMTRX - Expense Ratio Comparison
PCMNX has a 0.57% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Return for Risk
PCMNX vs. NMTRX — Risk / Return Rank
PCMNX
NMTRX
PCMNX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PACE Municipal Fixed Income Investments (PCMNX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.
| PCMNX | NMTRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.31 | 0.84 | +0.47 |
Sortino ratioReturn per unit of downside risk | 1.72 | 1.16 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.23 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.70 | 0.99 | -0.29 |
Martin ratioReturn relative to average drawdown | 2.39 | 2.89 | -0.50 |
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
| PCMNX | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 0.84 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.10 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.52 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.97 | +0.28 |
Correlation
The correlation between PCMNX and NMTRX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PCMNX vs. NMTRX - Dividend Comparison
PCMNX's dividend yield for the trailing twelve months is around 2.81%, less than NMTRX's 4.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCMNX PACE Municipal Fixed Income Investments | 2.81% | 2.49% | 2.58% | 2.37% | 2.30% | 2.38% | 2.47% | 3.41% | 3.11% | 2.89% | 3.33% | 3.23% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.19% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Drawdowns
PCMNX vs. NMTRX - Drawdown Comparison
The maximum PCMNX drawdown since its inception was -11.62%, smaller than the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for PCMNX and NMTRX.
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Drawdown Indicators
| PCMNX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -16.36% | +4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -4.75% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -11.62% | -16.36% | +4.74% |
Max Drawdown (10Y)Largest decline over 10 years | -11.62% | -16.36% | +4.74% |
Current DrawdownCurrent decline from peak | -2.37% | -2.25% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -2.93% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.62% | -0.43% |
Volatility
PCMNX vs. NMTRX - Volatility Comparison
PACE Municipal Fixed Income Investments (PCMNX) and Nuveen Municipal Total Return Managed Accounts (NMTRX) have volatilities of 1.05% and 1.07%, 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
| PCMNX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.07% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.44% | 1.82% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 4.93% | -1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 3.97% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.34% | 4.38% | -1.04% |