PFPTX — PACE Mortgage-Backed Securities Fixed Income Investments
Data updated: 2026-09-25
PFPTX — PACE Mortgage-Backed Securities Fixed Income Investments. Long Securitized (MBS/ABS/CMBS) Bond. Holdings, fees, performance and SEC filings.
PFPTX Fund Overview
PFPTX — PACE Mortgage-Backed Securities Fixed Income Investments is a US mutual fund managed by Pace Select Advisors Trust, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Pace Select Advisors Trust
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $158.86M
- Ticker: PFPTX
- SEC CIK: 0000930007
- SEC series ID: S000002696
- Share class ID: C000228102
PFPTX Investment Objective and Strategy
PACE Mortgage-Backed Securities Fixed Income Investments describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Pace Select Advisors Trust.
Investment objective
Current income.
Principal investment strategy
"Principal investments Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in a diversified portfolio of mortgage-related fixed income instruments, such as mortgage-backed securities (including mortgage pass-through securities and collateralized mortgage obligations (""CMOs""), commercial mortgage-backed securities, ""to be announced"" (or ""TBA"") securities and mortgage dollar rolls). The mortgage-backed securities in which the fund may invest include those issued or guaranteed by US government agencies or instrumentalities or private entities. The fund also may invest in other types of investment grade fixed income instruments (or unrated bonds of equivalent quality). TBA securities are mortgage-backed securities that usually are traded on a forward commitment basis with an approximate principal amount and no defined maturity date, issued or guaranteed by US government agencies and instrumentalities.
The fund also may engage in TBA and Treasury ""roll"" transactions. A TBA roll transaction is a strategy whereby the investment advisor decides to sell one TBA security and buy another TBA security due at a later date (Treasury roll transactions differ in that the underlying securities are US Treasury securities). The fund also may invest in when-issued or delayed delivery bonds to increase its return, giving rise to a form of leverage. The fund invests in bonds of varying maturities, but normally limits its portfolio duration to within +/- 50% of the effective duration of the fund's benchmark index, Bloomberg Barclays US Mortgage-Backed Securities Index, as calculated by the investment advisor, which as of July 31, 2018 was approximately 5.12 years. Duration is a measure of the fund's exposure to interest rate riska longer duration means that changes in market interest rates are likely to have a larger effect on the value of the fund's portfolio.
The fund may engage in ""short-selling"" with respect to securities issued by the US Treasury and certain TBA securities coupon trades. For example, the fund may take a short position in TBA securities as a means of profiting if the underlying mortgages decline in value. The fund also may hold or purchase TBA securities with one coupon and take a short position in TBA securities with another coupon. Although the price movements of the short and long positions of the transaction are, in general, correlated due to the two securities having comparable credit quality and liquidity level, there may be variances between the price movements of different coupon instruments, potentially permitting the fund to add to its return. The fund's investment strategies may result in high portfolio turnover.
Management process The fund employs a ""manager of managers"" structure. UBS Asset Management (Americas) Inc. (""UBS AM""), the fund's manager and primary provider of investment advisory services, has the ultimate authority, subject to oversight by the fund's board, to oversee the fund's subadvisor(s) and recommend their hiring, termination and replacement, and to allocate assets among the fund's subadvisor(s). UBS AM's investment process begins with subadvisor selection. UBS AM's portfolio management team constructs a list of potential subadvisors based on information primarily from internal sources and the team's collective knowledge of the industry, but also supplemented by external sources. The team then focuses its research on that list to identify a small number of the most attractive candidates.
This research includes analyzing the portfolio holdings and/or positioning of a subadvisor's investment strategy to understand whether the allocation of risk and the drivers of alpha are consistent with the subadvisor's investment philosophy and stated strengths. The most attractive sub-set of those subadvisors is then selected for in-depth, on-site due diligence meetings with representatives from the investment, operations and compliance groups within UBS AM. The due diligence information is then synthesized to select the most attractive candidate(s) for the fund, subject to the board's approval. In managing the fund and overseeing the fund's subadvisor(s), UBS AM views its research process as an ongoing one, as the team continually seeks to confirm a subadvisor's investment thesis over the appropriate investment horizon.
In general, UBS AM leverages its research and market knowledge to construct funds with exposure to various subadvisors that are expected, in combination, to produce the desired overall fund characteristics. UBS AM's ongoing monitoring and risk management process incorporates daily, weekly, monthly, quarterly and annual responsibilities designed to monitor the drivers of fund risk and performance at the subadvisor level and at the overall fund level. Through this process, UBS AM may adjust a fund's positioning by altering its allocation weights across subadvisors within the fund and/or by changing the specific subadvisors within the fund. The subadvisor utilizes a strategy that involves buying or selling specific bonds based on an analysis of their values relative to other similar bonds."
PFPTX Holdings
Top 10 holdings of PACE Mortgage-Backed Securities Fixed Income Investments by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Umbs, Tba | 26.63% |
| Umbs, Tba | 12.18% |
| Umbs, Tba | 9.70% |
| Government National Mortgage Association | 6.70% |
| Government National Mortgage Association | 5.03% |
| Umbs, Tba | 4.53% |
| Government National Mortgage Association | 3.82% |
| Government National Mortgage Association | 3.05% |
| Freddie Mac | 2.99% |
| Government National Mortgage Association | 2.81% |
PFPTX Portfolio Allocation
Asset-class allocation of PACE Mortgage-Backed Securities Fixed Income Investments by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 201.2% |
| Cash & Equivalents | 3.0% |
| Real Estate | 2.4% |
PFPTX Performance
Total returns for PFPTX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.8% |
| 1 year | 6.5% |
| 3 years (annualised) | 4.9% |
| 5 years (annualised) | 0.2% |
PFPTX Risk Information
Risk metrics for PFPTX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.3%
PFPTX Costs and Fees
PFPTX costs about $167 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.67%
- Gross expense ratio: 1.99%
- Portfolio turnover: 945%
- Brokerage commissions: 0.12 bps of average net assets (SEC N-CEN)
PFPTX Cashflows
Over the 12 months to 2026-04, PACE Mortgage-Backed Securities Fixed Income Investments had net outflows of $13.95M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$3.05M |
| 2026-03 | −$729.71K |
| 2026-02 | $346.60K |
| 2026-01 | −$2.19M |
| 2025-12 | −$1.35M |
| 2025-11 | −$372.86K |
PFPTX Debt Constituents
No individual debt constituents are reported in PACE Mortgage-Backed Securities Fixed Income Investments's latest SEC N-PORT filing.
PFPTX Prospectus and SEC Filings
Official PACE Mortgage-Backed Securities Fixed Income Investments filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-11-25
- Prospectus (485BPOS) — filed 2024-11-26
- Prospectus (485BPOS) — filed 2023-11-27
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-30
- Annual census (N-CEN) — filed 2025-10-14
- Annual census (N-CEN) — filed 2024-10-15
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.