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Morningstar

PACE Mort-Backed Secs Fxd Inc Invests A PFXAX

Morningstar Analyst Rating
Quantitative rating as of | See UBS Investment Hub
  • NAV / 1-Day Return 10.83  /  0.73 %
  • Total Assets 223.5 Mil
  • Adj. Expense Ratio
    0.970%
  • Expense Ratio 0.970%
  • Distribution Fee Level High
  • Share Class Type Front Load
  • Category Intermediate Core Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 3.49%
  • Effective Duration —

USD | NAV as of Feb 03, 2023 | 1-Day Return as of Feb 03, 2023, 11:15 PM GMT+00:00

Morningstar’s Analysis PFXAX

Will PFXAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PFXAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PFXAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PFXAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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PACE Mort-Backed Secs Fxd Inc Invests A's Average People Pillar and Process Pillar ratings aren't enough to prevent other weaknesses from sending this strategy to a Morningstar Quantitative Rating of Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

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