Are you sure both charts are using the same smoothing?
SPEED is just the sample value in km/h, and SPEED curve and checking the Speed setting should give the same curves and it does in all my tests, you can enable the Stacked view to compare in the same chart (blue is SPEED formula):

PACE doesn't exist as sample value, Pace is a metric computing average pace, if you plot it as user data you will obtain an horizontal line since it is the average of the whole workout. If you want "instantaneous" pace you could calculate it from SPEED, it is just a change of units.