PCSGX vs. USIAX

Last updated Jun 5, 2026

PCSGX (PACE Small/Medium Co Growth Equity Investments) and USIAX (UBS Ultra Short Income Fund) are both mutual funds - PCSGX is a Small Cap Growth Equities fund managed by UBS, while USIAX is a Ultrashort Bond fund managed by UBS. At a correlation of -0.26, they often move in opposite directions. PCSGX charges 1.03%/yr vs 0.35%/yr for USIAX.

Performance

PCSGX vs. USIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Small/Medium Co Growth Equity Investments (PCSGX) and UBS Ultra Short Income Fund (USIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCSGX

• 1D: -1.27%
• 1M: 2.46%
• YTD: 12.28%
• 6M: 10.50%
• 1Y: 21.18%
• 3Y*: 11.38%
• 5Y*: 2.66%
• 10Y*: 10.97%

USIAX

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCSGX vs. USIAX - Yearly Performance Comparison

	2026 (YTD)
PCSGX PACE Small/Medium Co Growth Equity Investments	-0.67%
USIAX UBS Ultra Short Income Fund	0.32%

Correlation

The correlation between PCSGX and USIAX is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.26

Return for Risk

PCSGX vs. USIAX — Risk / Return Rank

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

PCSGX

PCSGX Risk / Return Rank: 21
PCSGX Sharpe Ratio Rank: 18
PCSGX Sortino Ratio Rank: 20
PCSGX Omega Ratio Rank: 17
PCSGX Calmar Ratio Rank: 23
PCSGX Martin Ratio Rank: 26

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.

PCSGX vs. USIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Small/Medium Co Growth Equity Investments (PCSGX) and UBS Ultra Short Income Fund (USIAX). 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.

	PCSGX	USIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	—	—
Sortino ratio: Return per unit of downside risk	1.84	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.72	—	—
Martin ratio: Return relative to average drawdown	6.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PCSGX	USIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	10.15	-9.71

Drawdowns

PCSGX vs. USIAX - Drawdown Comparison

The maximum PCSGX drawdown since its inception was -56.32%, which is greater than USIAX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PCSGX and USIAX.

Drawdown Indicators

	PCSGX	USIAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.32%	0.00%	-56.32%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-27.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.35%	—	—
Current Drawdown Current decline from peak	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-12.40%	0.00%	-12.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	—	—

Volatility

Volatility by Period

	PCSGX	USIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	2.58%	+16.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.85%	2.58%	+20.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.84%	2.58%	+20.26%

PCSGX vs. USIAX - Expense Ratio Comparison

PCSGX has a 1.03% expense ratio, which is higher than USIAX's 0.35% expense ratio.

Dividends

PCSGX vs. USIAX - Dividend Comparison

PCSGX's dividend yield for the trailing twelve months is around 5.70%, more than USIAX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCSGX PACE Small/Medium Co Growth Equity Investments	5.70%	6.40%	3.06%	0.00%	0.00%	45.92%	6.50%	15.70%	20.15%	5.56%	0.00%	25.13%
USIAX UBS Ultra Short Income Fund	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PCSGX and USIAX in my portfolio?

PCSGX and USIAX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.