USIAX vs. PCMNX
Compare and contrast key facts about UBS Ultra Short Income Fund (USIAX) and PACE Municipal Fixed Income Investments (PCMNX).
USIAX is managed by UBS. It was launched on May 29, 2018. PCMNX is managed by UBS. It was launched on Aug 23, 1995.
Performance
USIAX vs. PCMNX - Performance Comparison
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USIAX vs. PCMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
USIAX UBS Ultra Short Income Fund | 0.13% | 4.54% | 5.35% | 4.47% | -0.38% | -0.18% | 0.84% | 1.28% | -0.00% |
PCMNX PACE Municipal Fixed Income Investments | -0.51% | 4.52% | 0.85% | 5.54% | -7.30% | 0.70% | 4.63% | 7.32% | 1.53% |
Returns By Period
In the year-to-date period, USIAX achieves a 0.13% return, which is significantly higher than PCMNX's -0.51% return.
USIAX
- 1D
- 0.00%
- 1M
- -0.20%
- YTD
- 0.13%
- 6M
- 1.10%
- 1Y
- 3.49%
- 3Y*
- 4.57%
- 5Y*
- 2.77%
- 10Y*
- —
PCMNX
- 1D
- 0.08%
- 1M
- -2.61%
- YTD
- -0.51%
- 6M
- 1.18%
- 1Y
- 4.40%
- 3Y*
- 2.64%
- 5Y*
- 0.75%
- 10Y*
- 1.82%
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USIAX vs. PCMNX - Expense Ratio Comparison
USIAX has a 0.35% expense ratio, which is lower than PCMNX's 0.57% expense ratio.
Return for Risk
USIAX vs. PCMNX — Risk / Return Rank
USIAX
PCMNX
USIAX vs. PCMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS Ultra Short Income Fund (USIAX) and PACE Municipal Fixed Income Investments (PCMNX). 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.
| USIAX | PCMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.57 | 1.31 | +1.26 |
Sortino ratioReturn per unit of downside risk | 5.39 | 1.72 | +3.67 |
Omega ratioGain probability vs. loss probability | 3.22 | 1.38 | +1.83 |
Calmar ratioReturn relative to maximum drawdown | 4.91 | 0.58 | +4.33 |
Martin ratioReturn relative to average drawdown | 47.04 | 1.91 | +45.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USIAX | PCMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 1.31 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.25 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.25 | -0.79 |
Correlation
The correlation between USIAX and PCMNX is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
USIAX vs. PCMNX - Dividend Comparison
USIAX's dividend yield for the trailing twelve months is around 3.63%, more than PCMNX's 2.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USIAX UBS Ultra Short Income Fund | 3.63% | 4.43% | 5.10% | 3.74% | 1.44% | 0.12% | 0.93% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% |
PCMNX PACE Municipal Fixed Income Investments | 2.82% | 2.49% | 2.58% | 2.37% | 2.30% | 2.38% | 2.47% | 3.41% | 3.11% | 2.89% | 3.33% | 3.23% |
Drawdowns
USIAX vs. PCMNX - Drawdown Comparison
The maximum USIAX drawdown since its inception was -4.88%, smaller than the maximum PCMNX drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for USIAX and PCMNX.
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Drawdown Indicators
| USIAX | PCMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.88% | -11.62% | +6.74% |
Max Drawdown (1Y)Largest decline over 1 year | -0.81% | -3.78% | +2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -4.88% | -11.62% | +6.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.62% | — |
Current DrawdownCurrent decline from peak | -0.20% | -2.61% | +2.41% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -1.39% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 1.32% | -1.24% |
Volatility
USIAX vs. PCMNX - Volatility Comparison
The current volatility for UBS Ultra Short Income Fund (USIAX) is 0.14%, while PACE Municipal Fixed Income Investments (PCMNX) has a volatility of 1.00%. This indicates that USIAX experiences smaller price fluctuations and is considered to be less risky than PCMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USIAX | PCMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 1.00% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 1.46% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.65% | 3.85% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 3.04% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 3.34% | +1.16% |