Can you transfer USDC to USDT?

Can you clarify for me something about cryptocurrency transactions? I'm a bit confused about the process. Is it possible to directly transfer USDC to USDT? I understand that they are both stablecoins, but they are pegged to different assets, right? USDC is pegged to the US dollar, while USDT is pegged to the tether. So, can I simply swap or convert USDC to USDT on a cryptocurrency exchange, or do I need to go through a more complex process? Would there be any fees involved in such a transaction? And are there any risks or considerations I should be aware of before attempting this?