UEIPX vs. PCGTX

Last updated Jun 23, 2026

UEIPX (UBS Engage For Impact Fund) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both mutual funds - UEIPX is a Global Equities fund managed by UBS, while PCGTX is a Intermediate Core Bond fund managed by UBS. Over the past 5 years, UEIPX returned 6.50%/yr vs 0.43%/yr for PCGTX. At a 0.16 correlation, their price movements are largely independent. UEIPX charges 0.85%/yr vs 0.73%/yr for PCGTX.

Performance

UEIPX vs. PCGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Engage For Impact Fund (UEIPX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UEIPX achieves a 8.16% return, which is significantly higher than PCGTX's 3.21% return.

UEIPX

• 1D: -0.21%
• 1M: 1.62%
• YTD: 8.16%
• 6M: 7.68%
• 1Y: 19.44%
• 3Y*: 15.47%
• 5Y*: 6.50%
• 10Y*: —

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%

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

UEIPX vs. PCGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UEIPX UBS Engage For Impact Fund	8.16%	20.69%	10.39%	16.46%	-22.35%	16.12%	16.94%	23.66%	-5.23%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	3.21%	7.84%	0.98%	5.12%	-13.48%	-0.61%	5.75%	6.55%	2.07%

Correlation

The correlation between UEIPX and PCGTX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 29, 2018	0.16

The correlation between UEIPX and PCGTX shifts across timeframes, from 0.16 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

UEIPX vs. PCGTX — Risk / Return Rank

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

UEIPX

UEIPX Risk / Return Rank: 33
UEIPX Sharpe Ratio Rank: 33
UEIPX Sortino Ratio Rank: 34
UEIPX Omega Ratio Rank: 31
UEIPX Calmar Ratio Rank: 30
UEIPX Martin Ratio Rank: 38

PCGTX

PCGTX Risk / Return Rank: 54
PCGTX Sharpe Ratio Rank: 39
PCGTX Sortino Ratio Rank: 58
PCGTX Omega Ratio Rank: 54
PCGTX Calmar Ratio Rank: 69
PCGTX Martin Ratio Rank: 52

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.

UEIPX vs. PCGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Engage For Impact Fund (UEIPX) 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.

	UEIPX	PCGTX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.68	-0.15
Sortino ratio: Return per unit of downside risk	2.26	2.92	-0.66
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	1.95	3.06	-1.11
Martin ratio: Return relative to average drawdown	7.81	9.97	-2.16

UEIPX vs. PCGTX - Sharpe Ratio Comparison

The current UEIPX Sharpe Ratio is 1.54, which is comparable to the PCGTX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of UEIPX and PCGTX, 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

UEIPX vs. PCGTX - Drawdown Comparison

The maximum UEIPX drawdown since its inception was -35.23%, which is greater than PCGTX's maximum drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for UEIPX and PCGTX.

Drawdown Indicators

	UEIPX	PCGTX	Difference
Max Drawdown Largest peak-to-trough decline	-35.23%	-19.34%	-15.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.59%	-3.09%	-7.50%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-7.94%	-9.60%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-19.20%	-16.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.34%	—
Current Drawdown Current decline from peak	-1.37%	-1.12%	-0.25%
Average Drawdown Average peak-to-trough decline	-9.84%	-1.85%	-7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	0.92%	+1.64%

Volatility

UEIPX vs. PCGTX - Volatility Comparison

UBS Engage For Impact Fund (UEIPX) has a higher volatility of 2.92% compared to PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) at 1.65%. This indicates that UEIPX's price experiences larger fluctuations and is considered to be riskier than PCGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEIPX	PCGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	1.65%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	4.53%	+5.77%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	5.61%	+7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	7.18%	+11.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.40%	5.40%	+14.00%

UEIPX vs. PCGTX - Expense Ratio Comparison

UEIPX has a 0.85% expense ratio, which is higher than PCGTX's 0.73% expense ratio.

Dividends

UEIPX vs. PCGTX - Dividend Comparison

UEIPX's dividend yield for the trailing twelve months is around 12.61%, more 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%
UEIPX UBS Engage For Impact Fund	12.61%	13.64%	4.91%	0.66%	0.95%	11.99%	0.76%	2.68%	0.07%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UEIPX and PCGTX in my portfolio?

UEIPX and PCGTX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEIPX or PCGTX?

UEIPX has higher volatility (2.92%) compared to PCGTX (1.65%). In terms of maximum drawdown, UEIPX dropped -35.23% vs PCGTX's -19.34%.

Which has better risk-adjusted returns?

PCGTX currently has the higher Sharpe Ratio (1.68 vs 1.54), 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.