USIAX vs. PCIEX

Last updated Jun 4, 2026

USIAX (UBS Ultra Short Income Fund) and PCIEX (PACE International Equity Investments) are both mutual funds - USIAX is a Ultrashort Bond fund managed by UBS, while PCIEX is a Foreign Large Cap Equities fund managed by UBS. Their correlation of 0.87 suggests significant overlap in exposure. USIAX charges 0.35%/yr vs 1.33%/yr for PCIEX.

Performance

USIAX vs. PCIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS Ultra Short Income Fund (USIAX) and PACE International Equity Investments (PCIEX). 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*: —

PCIEX

• 1D: 0.19%
• 1M: 3.84%
• YTD: 7.58%
• 6M: 9.69%
• 1Y: 22.02%
• 3Y*: 18.59%
• 5Y*: 9.85%
• 10Y*: 10.01%

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

USIAX vs. PCIEX - Yearly Performance Comparison

	2026 (YTD)
USIAX UBS Ultra Short Income Fund	0.32%
PCIEX PACE International Equity Investments	0.34%

Correlation

The correlation between USIAX and PCIEX 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. PCIEX — Risk / Return Rank

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

PCIEX

PCIEX Risk / Return Rank: 34
PCIEX Sharpe Ratio Rank: 34
PCIEX Sortino Ratio Rank: 33
PCIEX Omega Ratio Rank: 36
PCIEX Calmar Ratio Rank: 31
PCIEX Martin Ratio Rank: 36

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. PCIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Ultra Short Income Fund (USIAX) and PACE International Equity Investments (PCIEX). 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	PCIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.70	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.88	0.34	+12.54

Drawdowns

USIAX vs. PCIEX - Drawdown Comparison

The maximum USIAX drawdown since its inception was 0.00%, smaller than the maximum PCIEX drawdown of -61.66%. Use the drawdown chart below to compare losses from any high point for USIAX and PCIEX.

Drawdown Indicators

	USIAX	PCIEX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-61.66%	+61.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.81%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.04%	—
Current Drawdown Current decline from peak	0.00%	-0.39%	+0.39%
Average Drawdown Average peak-to-trough decline	0.00%	-16.50%	+16.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.73%	—

Volatility

Volatility by Period

	USIAX	PCIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	13.30%	-10.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	16.55%	-13.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	16.57%	-13.59%

USIAX vs. PCIEX - Expense Ratio Comparison

USIAX has a 0.35% expense ratio, which is lower than PCIEX's 1.33% expense ratio.

Dividends

USIAX vs. PCIEX - Dividend Comparison

USIAX's dividend yield for the trailing twelve months is around 0.32%, less than PCIEX's 11.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCIEX PACE International Equity Investments	11.94%	12.85%	13.58%	4.22%	3.30%	8.10%	1.35%	2.77%	8.79%	2.13%	2.34%	1.74%
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 PCIEX in my portfolio?

USIAX and PCIEX 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.