ALPS Distributors, Inc. is not affiliated with Morningstar Investment Management, LLC.
Investments involve risk, including potential loss of principal.
†The Morningstar RatingsTM shown are as of 7/31/16 and are based on risk-adjusted 3-, 5-, and 10-year (if applicable) returns, and past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings are subject to change every month.
The Pax Small Cap Fund Individual Investor Class (PXSCX) Morningstar ratings were 5 stars out of 657 funds overall, 4 stars out of 657 funds for 3-years, 5 stars out of 555 funds for 5-years. The Pax Small Cap Fund Institutional Class (PXSIX) Morningstar ratings were 5 stars out of 657 funds overall, 4 stars out of 657 funds for 3-years, 5 stars out of 555 funds for 5-years.