Fund Evaluator:
PACE Global Real Estate Securities A (PREAX)
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Best Performing in Global Real Estate Over the Last Year
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Fund Details
PACE Global Real Estate Securities A Overview
PACE Global Real Estate Securities A (PREAX) is an actively managed Sector Equity Global Real Estate fund. UBS Asset Management launched the fund in 2006.
The investment seeks total return. The fund primarily invests in real estate investment trusts ("REITs") and other real-estate related securities. It invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in securities of companies in the real estate industry. The fund may invest in the securities of issuers located in a number of different countries throughout the world. It will maintain exposure to real estate related securities of issuers in the U.S. and in at least three countries outside the U.S.
About PACE Global Real Estate Securities A (PREAX)
There are 9 members of the management team with an average tenure of 3.13 years: William Leung (2026), Jason Yablon (2026), Rogier Quirijns (2026), Fred Lee (2009), Mayoor Joshi (2019), Jon Cheigh (2026), Ji Zhang (2026), Shu-Han Hsu (2022), Shreya Rajbhandary (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and FTSE EPRA Nareit Developed TR USD index with a weighting of 100%. PACE Global Real Estate Securities A has 59 securities in its portfolio. The top 10 holdings constitute 40.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PACE Global Real Estate Securities A is part of the Equity global asset class and is within the Sector Equity fund group. PACE Global Real Estate Securities A has 34.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 64.4%. There is 34.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PACE Global Real Estate Securities A has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $142 million in total assets, which is below the $209 million average for the Global Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PREAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PACE Global Real Estate Securities A expense ratio is high compared to funds in the Global Real Estate category. PACE Global Real Estate Securities A has an expense ratio of 1.45%, which is 26% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PACE Global Real Estate Securities A has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 71% for the Global Real Estate category.
Recently, in the month of July 2026, PACE Global Real Estate Securities A returned 2.8%, which earned it a grade of A, as the Global Real Estate category had an average return of 2.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
PACE Global Real Estate Securities A has a trailing yield of 2.24%, which is below the 2.74% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
PACE Global Real Estate Securities A Grades
Year to date, the fund has returned 11.7%, 0.8 percentage points better than the category, which translates into a grade of D. The fund has returned 15.1% over the past year (grade of D), 5.5% over the past three years (grade of F) and -1.0% per year over the past five years (grade of F) and 1.8% per year over the past 10 years (grade of F).
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PREAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PREAX Return (NAV) | 2.8% | 5.0% | 15.1% | 5.5% | -1.0% | 1.8% |
| PREAX Grade | A | A | D | F | F | F |
| +/- Category | 0.3% | 2.9% | -0.3% | -3.0% | -1.9% | -2.3% |
| Global Real Estate Avg | 2.5% | 2.1% | 15.4% | 8.5% | 0.9% | 4.1% |
| PREAX Tax Cost Ratio | na | na | 1.0% | 0.7% | 0.7% | 1.1% |
PREAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PREAX Return (NAV) | 11.7% | 3.3% | -3.2% | 10.9% | -27.8% | 32.7% | -11.2% | 20.4% | -8.4% | 10.4% | 6.0% |
| PREAX Grade | D | F | F | C | F | A | F | F | F | F | A |
| +/- Category | 0.8% | -6.1% | -3.8% | 0.6% | -2.0% | 8.1% | -9.6% | -5.0% | -2.7% | -3.5% | 2.9% |
| Global Real Estate Avg | 11.0% | 9.4% | 0.6% | 10.4% | -25.9% | 24.6% | -1.7% | 25.5% | -5.8% | 13.9% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 16.5% |
| Total Risk Index: | 1.34 - High |
| Category Risk Index: | 1.02 - Above Average |
| Category Risk Grade: | D (77% Rank) |
| Beta: | 1.05 |
| R-Squared: | 65% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $55 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 29% |
Management Team
| Number of Managers: 9 | |||
| Longest Tenure: 16.6 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Lee Fred (2009), Joshi Mayoor (2019), Hsu Shu-Han (2022), Rajbhandary Shreya (2026), Leung William (2026), Yablon Jason (2026), Quirijns Rogier (2026), Cheigh Jon (2026), Zhang Ji (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 40.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 34.6% |
Portfolio Allocation |
|
| Domestic Stock: | 64.4% |
| Foreign Stock: | 34.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | UBS Asset Management |
| Phone Number: | 800-647-1568 |
| Website: | www.ubs.com |
| Status: | Open |
| Inception Date: | December 18, 2006 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.45% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | PACE Global Real Estate Securities A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
