PCSIX vs. SMTRX

Last updated Jun 24, 2026

PCSIX (PACE Strategic Fixed Income Investments) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.94 suggests significant overlap in exposure. PCSIX charges 0.66%/yr vs 0.99%/yr for SMTRX.

Performance

PCSIX vs. SMTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Strategic Fixed Income Investments (PCSIX) and ALPS/Smith Total Return Bond Fund (SMTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCSIX

• 1D: -0.34%
• 1M: 0.69%
• YTD: 0.57%
• 6M: 0.73%
• 1Y: 4.72%
• 3Y*: 5.44%
• 5Y*: 0.91%
• 10Y*: 2.55%

SMTRX

• 1D: -0.31%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCSIX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
PCSIX PACE Strategic Fixed Income Investments	0.26%
SMTRX ALPS/Smith Total Return Bond Fund	0.00%

Correlation

The correlation between PCSIX and SMTRX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.94

Return for Risk

PCSIX vs. SMTRX — Risk / Return Rank

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

PCSIX

PCSIX Risk / Return Rank: 30
PCSIX Sharpe Ratio Rank: 29
PCSIX Sortino Ratio Rank: 32
PCSIX Omega Ratio Rank: 28
PCSIX Calmar Ratio Rank: 34
PCSIX Martin Ratio Rank: 29

SMTRX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PCSIX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Strategic Fixed Income Investments (PCSIX) and ALPS/Smith Total Return Bond Fund (SMTRX). 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.

	PCSIX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	—	—
Sortino ratio: Return per unit of downside risk	2.18	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.09	—	—
Martin ratio: Return relative to average drawdown	6.20	—	—

Drawdowns

PCSIX vs. SMTRX - Drawdown Comparison

The maximum PCSIX drawdown since its inception was -18.54%, which is greater than SMTRX's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for PCSIX and SMTRX.

Drawdown Indicators

	PCSIX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.54%	-0.62%	-17.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.54%	—	—
Current Drawdown Current decline from peak	-1.07%	-0.31%	-0.76%
Average Drawdown Average peak-to-trough decline	-2.47%	-0.18%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	—	—

Volatility

Volatility by Period

	PCSIX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	3.64%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.48%	3.64%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	3.64%	+1.21%

PCSIX vs. SMTRX - Expense Ratio Comparison

PCSIX has a 0.66% expense ratio, which is lower than SMTRX's 0.99% expense ratio.

Dividends

PCSIX vs. SMTRX - Dividend Comparison

PCSIX's dividend yield for the trailing twelve months is around 5.18%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCSIX PACE Strategic Fixed Income Investments	5.18%	4.76%	5.66%	5.03%	3.47%	3.71%	5.62%	3.50%	3.39%	2.66%	4.23%	3.55%
SMTRX ALPS/Smith Total Return Bond Fund	0.36%	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 PCSIX and SMTRX in my portfolio?

With a correlation of 0.94, PCSIX and SMTRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.