USIAX vs. PHYPX

Last updated Jun 4, 2026

USIAX (UBS Ultra Short Income Fund) and PHYPX (PACE High Yield Investments) are both mutual funds - USIAX is a Ultrashort Bond fund managed by UBS, while PHYPX is a High Yield Bonds fund managed by UBS. Their correlation of 0.87 suggests significant overlap in exposure. USIAX charges 0.35%/yr vs 0.91%/yr for PHYPX.

Performance

USIAX vs. PHYPX - Performance Comparison

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

PHYPX

• 1D: 0.11%
• 1M: 0.62%
• YTD: 1.82%
• 6M: 2.44%
• 1Y: 7.53%
• 3Y*: 8.67%
• 5Y*: 3.47%
• 10Y*: 5.33%

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

USIAX vs. PHYPX - Yearly Performance Comparison

	2026 (YTD)
USIAX UBS Ultra Short Income Fund	0.32%
PHYPX PACE High Yield Investments	0.23%

Correlation

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

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

PHYPX

PHYPX Risk / Return Rank: 43
PHYPX Sharpe Ratio Rank: 33
PHYPX Sortino Ratio Rank: 31
PHYPX Omega Ratio Rank: 87
PHYPX Calmar Ratio Rank: 41
PHYPX Martin Ratio Rank: 21

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. PHYPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Ultra Short Income Fund (USIAX) and PACE High Yield Investments (PHYPX). 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	PHYPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.65	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.88	1.12	+11.77

Drawdowns

USIAX vs. PHYPX - Drawdown Comparison

The maximum USIAX drawdown since its inception was 0.00%, smaller than the maximum PHYPX drawdown of -27.27%. Use the drawdown chart below to compare losses from any high point for USIAX and PHYPX.

Drawdown Indicators

	USIAX	PHYPX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-27.27%	+27.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.40%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.69%	—
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	0.00%	-2.91%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.47%	—

Volatility

Volatility by Period

	USIAX	PHYPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	5.01%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	4.69%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	5.12%	-2.14%

USIAX vs. PHYPX - Expense Ratio Comparison

USIAX has a 0.35% expense ratio, which is lower than PHYPX's 0.91% expense ratio.

Dividends

USIAX vs. PHYPX - Dividend Comparison

USIAX's dividend yield for the trailing twelve months is around 0.32%, less than PHYPX's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHYPX PACE High Yield Investments	6.26%	6.18%	6.34%	6.15%	5.77%	5.97%	5.33%	5.72%	6.15%	5.54%	5.75%	6.02%
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 PHYPX in my portfolio?

USIAX and PHYPX 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.