PREAX vs. PWTYX

Last updated Jun 24, 2026

PREAX (PACE Global Real Estate Securities Investments) and PWTYX (UBS U.S. Allocation Fund) are both mutual funds - PREAX is a REIT fund managed by UBS, while PWTYX is a Diversified Portfolio fund managed by UBS. Over the past 10 years, PREAX returned 1.95%/yr vs 10.13%/yr for PWTYX. A 0.71 correlation means they provide meaningful diversification when combined. PREAX charges 1.45%/yr vs 0.70%/yr for PWTYX.

Performance

PREAX vs. PWTYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Global Real Estate Securities Investments (PREAX) and UBS U.S. Allocation Fund (PWTYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PREAX having a 7.01% return and PWTYX slightly higher at 7.11%. Over the past 10 years, PREAX has underperformed PWTYX with an annualized return of 1.95%, while PWTYX has yielded a comparatively higher 10.13% annualized return.

PREAX

• 1D: 0.43%
• 1M: 0.43%
• YTD: 7.01%
• 6M: 7.34%
• 1Y: 6.45%
• 3Y*: 6.35%
• 5Y*: -1.40%
• 10Y*: 1.95%

PWTYX

• 1D: -0.44%
• 1M: 1.03%
• YTD: 7.11%
• 6M: 6.52%
• 1Y: 19.94%
• 3Y*: 14.43%
• 5Y*: 7.63%
• 10Y*: 10.13%

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

PREAX vs. PWTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PREAX PACE Global Real Estate Securities Investments	7.01%	3.29%	-3.16%	10.93%	-27.85%	32.65%	-11.23%	20.46%	-8.44%	6.62%
PWTYX UBS U.S. Allocation Fund	7.11%	13.28%	14.01%	17.73%	-17.04%	16.19%	17.66%	23.75%	-7.80%	15.77%

Correlation

The correlation between PREAX and PWTYX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.71

Over the past year, the correlation between PREAX and PWTYX has dropped to 0.46 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

PREAX vs. PWTYX — Risk / Return Rank

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

PREAX

PREAX Risk / Return Rank: 9
PREAX Sharpe Ratio Rank: 9
PREAX Sortino Ratio Rank: 9
PREAX Omega Ratio Rank: 9
PREAX Calmar Ratio Rank: 9
PREAX Martin Ratio Rank: 10

PWTYX

PWTYX Risk / Return Rank: 63
PWTYX Sharpe Ratio Rank: 63
PWTYX Sortino Ratio Rank: 64
PWTYX Omega Ratio Rank: 59
PWTYX Calmar Ratio Rank: 61
PWTYX Martin Ratio Rank: 67

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.

PREAX vs. PWTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Global Real Estate Securities Investments (PREAX) and UBS U.S. Allocation Fund (PWTYX). 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.

	PREAX	PWTYX	Difference
Sharpe ratio: Return per unit of total volatility	0.68	2.14	-1.46
Sortino ratio: Return per unit of downside risk	1.02	3.05	-2.03
Omega ratio: Gain probability vs. loss probability	1.13	1.39	-0.26
Calmar ratio: Return relative to maximum drawdown	0.80	2.86	-2.07
Martin ratio: Return relative to average drawdown	2.71	12.15	-9.44

PREAX vs. PWTYX - Sharpe Ratio Comparison

The current PREAX Sharpe Ratio is 0.68, which is lower than the PWTYX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PREAX and PWTYX, 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

PREAX vs. PWTYX - Drawdown Comparison

The maximum PREAX drawdown since its inception was -72.43%, which is greater than PWTYX's maximum drawdown of -51.86%. Use the drawdown chart below to compare losses from any high point for PREAX and PWTYX.

Drawdown Indicators

	PREAX	PWTYX	Difference
Max Drawdown Largest peak-to-trough decline	-72.43%	-51.86%	-20.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-7.87%	-2.60%
Max Drawdown (3Y) Largest decline over 3 years	-21.93%	-19.40%	-2.53%
Max Drawdown (5Y) Largest decline over 5 years	-35.95%	-21.84%	-14.11%
Max Drawdown (10Y) Largest decline over 10 years	-43.59%	-25.34%	-18.25%
Current Drawdown Current decline from peak	-14.33%	-1.15%	-13.18%
Average Drawdown Average peak-to-trough decline	-20.28%	-7.60%	-12.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	1.79%	+1.18%

Volatility

PREAX vs. PWTYX - Volatility Comparison

PACE Global Real Estate Securities Investments (PREAX) and UBS U.S. Allocation Fund (PWTYX) have volatilities of 3.96% and 4.13%, 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.

Volatility by Period

	PREAX	PWTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	4.13%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	8.74%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	10.55%	+1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	13.29%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	12.99%	+4.97%

PREAX vs. PWTYX - Expense Ratio Comparison

PREAX has a 1.45% expense ratio, which is higher than PWTYX's 0.70% expense ratio.

Dividends

PREAX vs. PWTYX - Dividend Comparison

PREAX's dividend yield for the trailing twelve months is around 2.34%, less than PWTYX's 8.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PREAX PACE Global Real Estate Securities Investments	2.34%	2.50%	1.65%	1.19%	0.66%	2.77%	2.47%	4.68%	3.43%	0.50%	4.21%	2.72%
PWTYX UBS U.S. Allocation Fund	8.76%	9.38%	8.32%	1.61%	9.95%	16.86%	5.85%	2.22%	11.82%	2.53%	0.68%	0.00%

Frequently Asked Questions

Can I hold both PREAX and PWTYX in my portfolio?

PREAX and PWTYX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PREAX or PWTYX?

PWTYX has higher volatility (4.13%) compared to PREAX (3.96%). In terms of maximum drawdown, PREAX dropped -72.43% vs PWTYX's -51.86%.

Which has better risk-adjusted returns?

PWTYX currently has the higher Sharpe Ratio (2.14 vs 0.68), 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.