PGBOX vs. PCGTX
PGBOX (JPMorgan Core Bond Fund) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both Intermediate Core Bond funds. Over the past 10 years, PGBOX returned 1.62%/yr vs 1.57%/yr for PCGTX. Their correlation of 0.82 suggests significant overlap in exposure. PGBOX charges 0.70%/yr vs 0.73%/yr for PCGTX.
Performance
PGBOX vs. PCGTX - Performance Comparison
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Returns By Period
In the year-to-date period, PGBOX achieves a 0.12% return, which is significantly lower than PCGTX's 3.21% return. Both investments have delivered pretty close results over the past 10 years, with PGBOX having a 1.62% annualized return and PCGTX not far behind at 1.57%.
PGBOX
- 1D
- 0.29%
- 1M
- 0.81%
- YTD
- 0.12%
- 6M
- 0.15%
- 1Y
- 4.11%
- 3Y*
- 3.94%
- 5Y*
- 0.06%
- 10Y*
- 1.62%
PCGTX
- 1D
- 0.38%
- 1M
- 0.95%
- YTD
- 3.21%
- 6M
- 3.31%
- 1Y
- 8.64%
- 3Y*
- 4.85%
- 5Y*
- 0.43%
- 10Y*
- 1.57%
PGBOX vs. PCGTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGBOX JPMorgan Core Bond Fund | 0.12% | 7.10% | 1.81% | 5.42% | -12.56% | -1.36% | 7.85% | 8.06% | -0.06% | 3.55% |
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 3.21% | 7.84% | 0.98% | 5.12% | -13.48% | -0.61% | 5.75% | 6.55% | 0.17% | 2.83% |
Correlation
The correlation between PGBOX and PCGTX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 1995 | 0.82 |
The correlation between PGBOX and PCGTX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
PGBOX vs. PCGTX — Risk / Return Rank
PGBOX
PCGTX
PGBOX vs. PCGTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Core Bond Fund (PGBOX) 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.
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.
| PGBOX | PCGTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 3.06 | -1.82 |
| Martin ratioReturn relative to average drawdown | 3.39 | 9.97 | -6.58 |
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Drawdowns
PGBOX vs. PCGTX - Drawdown Comparison
The maximum PGBOX drawdown since its inception was -18.42%, roughly equal to the maximum PCGTX drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for PGBOX and PCGTX.
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Drawdown Indicators
| PGBOX | PCGTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.42% | -19.34% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.09% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -7.94% | +2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -19.20% | +2.32% |
Max Drawdown (10Y)Largest decline over 10 years | -16.88% | -19.34% | +2.46% |
Current DrawdownCurrent decline from peak | -1.89% | -1.12% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -1.85% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.92% | +0.30% |
Volatility
PGBOX vs. PCGTX - Volatility Comparison
The current volatility for JPMorgan Core Bond Fund (PGBOX) is 1.10%, while PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) has a volatility of 1.65%. This indicates that PGBOX experiences smaller price fluctuations and is considered to be less risky than PCGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGBOX | PCGTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.65% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 4.53% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 5.61% | -1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 7.18% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 5.40% | -0.69% |
PGBOX vs. PCGTX - Expense Ratio Comparison
PGBOX has a 0.70% expense ratio, which is lower than PCGTX's 0.73% expense ratio.
Dividends
PGBOX vs. PCGTX - Dividend Comparison
PGBOX's dividend yield for the trailing twelve months is around 3.48%, less than PCGTX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments | 4.47% | 3.78% | 5.36% | 5.02% | 3.67% | 2.87% | 3.23% | 3.53% | 3.34% | 2.96% | 2.71% | 2.21% |
PGBOX JPMorgan Core Bond Fund | 3.48% | 3.71% | 3.69% | 3.26% | 2.41% | 2.56% | 3.75% | 2.97% | 2.65% | 2.63% | 2.66% | 2.34% |
Frequently Asked Questions
PGBOX and PCGTX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCGTX has higher volatility (1.65%) compared to PGBOX (1.10%). In terms of maximum drawdown, PGBOX dropped -18.42% vs PCGTX's -19.34%.
PCGTX currently has the higher Sharpe Ratio (1.68 vs 1.07), 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.
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