Fund Evaluator:
UBS US Allocation P (PWTYX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
UBS US Allocation P Overview
UBS US Allocation P (PWTYX) is an actively managed Allocation Moderate Allocation fund. UBS Asset Management launched the fund in 1993.
The investment seeks total return, consisting of long-term capital appreciation and current income. The fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in U.S. fixed income and equity securities. The following are the ranges within which the advisor expects to allocate the fund's assets among the various asset classes: (1) U.S. equities-20-90%; (2) investment grade fixed income-0-70%; (3) high yield fixed income-0-15%; and (4) cash equivalents-0-50%. It may, but is not required to, use exchange-traded or over-the-counter derivative instruments for risk management purposes or as part of its investment strategies.
About UBS US Allocation P (PWTYX)
There are 2 members of the management team with an average tenure of 2.81 years: Jade Fu (2026), Evan Brown (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, Bloomberg US Agg Bond TR USD index with a weighting of 30%, Russell 3000 TR USD index with a weighting of 65% and ICE BofA US Cash Pay HY Constnd TR USD index with a weighting of 5%. UBS US Allocation P has 967 securities in its portfolio. The top 10 holdings constitute 38.9% 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.
UBS US Allocation P is part of the Allocation global asset class and is within the Allocation fund group. UBS US Allocation P has 5.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.7%. There is 1.1% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 41.0% (36.9% domestic bond, 4.0% foreign bond and 0.0% convertible bond). UBS US Allocation P has 7.2% of the portfolio in cash.
Assets Under Management
The fund has $33 million in total assets, which is below the $2 billion average for the Moderate Allocation 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.
PWTYX 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 UBS US Allocation P expense ratio is above average compared to funds in the Moderate Allocation category. UBS US Allocation P has an expense ratio of 0.77%, which is 22% lower than its category average, making the fund expense ratio grade a B. 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. UBS US Allocation P has a portfolio turnover rate of 57%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of July 2026, UBS US Allocation P returned -0.4%, which earned it a grade of C, as the Moderate Allocation category had an average return of -0.3%. 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.
UBS US Allocation P has a trailing yield of 1.26%, which is below the 1.97% 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.
UBS US Allocation P Grades
Year to date, the fund has returned 6.7%, 0.3 percentage points better than the category, which translates into a grade of C. The fund has returned 15.2% over the past year (grade of B), 12.7% over the past three years (grade of B) and 7.3% per year over the past five years (grade of B) and 9.7% per year over the past 10 years (grade of A).
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PWTYX 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 |
|
| PWTYX Return (NAV) | -0.4% | 2.3% | 15.2% | 12.7% | 7.3% | 9.7% |
| PWTYX Grade | C | C | B | B | B | A |
| +/- Category | -0.1% | 0.2% | 2.1% | 0.7% | 0.6% | 1.2% |
| Moderate Allocation Avg | -0.3% | 2.1% | 13.1% | 12.0% | 6.6% | 8.5% |
| PWTYX Tax Cost Ratio | na | na | 2.3% | 1.7% | 2.4% | 1.9% |
PWTYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PWTYX Return (NAV) | 6.7% | 13.4% | 14.1% | 17.7% | -17.0% | 16.4% | 19.2% | 23.7% | -7.7% | 15.8% | 6.5% |
| PWTYX Grade | C | C | B | A | F | B | A | A | F | A | D |
| +/- Category | 0.3% | -0.0% | 1.8% | 3.4% | -3.0% | 2.0% | 6.3% | 3.9% | -2.6% | 2.0% | -1.2% |
| Moderate Allocation Avg | 6.4% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 10.9% |
| Total Risk Index: | 0.89 - Average |
| Category Risk Index: | 1.18 - High |
| Category Risk Grade: | F (101% Rank) |
| Beta: | 1.08 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $225 Mil |
| Fund Total Assets: | $ 33 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 57% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.1 years | |||
| Average Tenure: 2.8 years | |||
| Managers (Year): Brown Evan (2021), Fu Jade (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 967 |
| % in Top 10 Holdings: | 38.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.1% |
Portfolio Allocation |
|
| Domestic Stock: | 50.7% |
| Foreign Stock: | 1.1% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 36.9% |
| Foreign Bond: | 4.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.2% |
Purchase Information
| Fund Family: | UBS Asset Management |
| Phone Number: | 800-647-1568 |
| Website: | www.ubs.com |
| Status: | Open |
| Inception Date: | May 10, 1993 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | UBS US Allocation P |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
