USIAX vs. PCGTX

Last updated Jun 4, 2026

USIAX (UBS Ultra Short Income Fund) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both mutual funds - USIAX is a Ultrashort Bond fund managed by UBS, while PCGTX is a Intermediate Core Bond fund managed by UBS. Their correlation of 0.87 suggests significant overlap in exposure. USIAX charges 0.35%/yr vs 0.73%/yr for PCGTX.

Performance

USIAX vs. PCGTX - Performance Comparison

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

Returns By Period

USIAX

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

PCGTX

• 1D: 0.00%
• 1M: 0.49%
• YTD: 3.02%
• 6M: 3.30%
• 1Y: 9.62%
• 3Y*: 4.98%
• 5Y*: 0.34%
• 10Y*: 1.55%

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

USIAX vs. PCGTX - Yearly Performance Comparison

	2026 (YTD)
USIAX UBS Ultra Short Income Fund	0.32%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	0.00%

Correlation

The correlation between USIAX and PCGTX is 0.87, 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 29, 2026	0.87

Return for Risk

USIAX vs. PCGTX — Risk / Return Rank

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

PCGTX

PCGTX Risk / Return Rank: 55
PCGTX Sharpe Ratio Rank: 39
PCGTX Sortino Ratio Rank: 56
PCGTX Omega Ratio Rank: 52
PCGTX Calmar Ratio Rank: 73
PCGTX Martin Ratio Rank: 57

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.

USIAX vs. PCGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Ultra Short Income Fund (USIAX) 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.

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

Sharpe Ratios by Period

	USIAX	PCGTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.88	0.96	+11.92

Drawdowns

USIAX vs. PCGTX - Drawdown Comparison

The maximum USIAX drawdown since its inception was 0.00%, smaller than the maximum PCGTX drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for USIAX and PCGTX.

Drawdown Indicators

	USIAX	PCGTX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-19.34%	+19.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.34%	—
Current Drawdown Current decline from peak	0.00%	-1.31%	+1.31%
Average Drawdown Average peak-to-trough decline	0.00%	-1.85%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	USIAX	PCGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	5.67%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	7.16%	-4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	5.39%	-2.41%

USIAX vs. PCGTX - Expense Ratio Comparison

USIAX has a 0.35% expense ratio, which is lower than PCGTX's 0.73% expense ratio.

Dividends

USIAX vs. PCGTX - Dividend Comparison

USIAX's dividend yield for the trailing twelve months is around 0.32%, less than PCGTX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	4.48%	3.78%	5.36%	5.02%	3.67%	2.87%	3.23%	3.53%	3.34%	2.96%	2.71%	2.21%
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 USIAX and PCGTX in my portfolio?

USIAX and PCGTX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.