Pax World Funds Quarterly Performance Flyer

A summary of the most recent quarter-end performance for all Pax World Funds.

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Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

» Month ended 07/31/2016
» Quarter ended 06/30/2016
CUMULATIVE RETURNS (%) AVERAGE ANNUAL RETURNS (%)
Symbol Fund Inception Date Year-To-Date 1 Year 3 Year 5 Year 10 Year Since Inception1 Expense Ratio (Net of Fees) Expense Ratio (Gross of Fees)
PAXHX Pax High Yield Bond Fund - Individual Investor Class
10/08/1999 7.38 -0.12 1.06 3.31 5.35 5.20 0.96% 0.96%
PXHAX Pax High Yield Bond Fund - Class A
05/01/2013 7.37 -0.12 1.06 3.34 5.36 5.21 0.96% 0.96%
PXHIX Pax High Yield Bond Fund - Institutional Class
06/01/2004 7.55 0.12 1.34 3.59 5.58 5.39 0.71% 0.71%
PXHRX Pax High Yield Bond Fund - Class R
04/02/2007 7.39 -0.22 0.86 3.12 5.13 5.07 1.21% 1.21%
BofA Merrill Lynch U.S. High Yield - Cash Pay - BB-B (Constrained 2%) Index
10.57 4.96 4.84 6.09 7.23
Lipper High Yield Bond Funds Index
9.42 1.84 3.38 5.21 6.13
PXSCX Pax Small Cap Fund - Individual Investor Class
03/27/2008 8.72 1.95 7.45 11.43 0.00 9.47 1.23% 1.23%
PXSAX Pax Small Cap Fund - Class A
05/01/2013 8.66 1.94 7.43 11.42 0.00 9.47 1.23% 1.23%
PXSIX Pax Small Cap Fund - Institutional Class
03/27/2008 8.89 2.20 7.69 11.73 0.00 9.76 0.98% 0.98%
PXSRX Pax Small Cap Fund - Class R
03/27/2008 8.57 1.68 7.16 11.18 0.00 9.20 1.48% 1.48%
Russell 2000 Index
8.32 0.00 6.74 10.43 7.17 8.53
Lipper Small-Cap Core Funds Index
9.51 2.25 6.86 9.99 7.37 8.53
PGRNX Pax Global Environmental Markets Fund - Individual Investor Class
03/27/2008 8.65 3.18 6.16 7.78 0.00 4.46 1.23% 1.31%
PXEAX Pax Global Environmental Markets Fund - Class A
05/01/2013 8.66 3.18 6.17 7.80 0.00 4.47 1.23% 1.31%
PGINX Pax Global Environmental Markets Fund - Institutional Class
03/27/2008 8.88 3.47 6.42 8.08 0.00 4.73 0.98% 1.06%
PGRGX Pax Global Environmental Markets Fund - Class R
03/27/2008 8.51 2.92 5.90 7.53 0.00 4.20 1.48% 1.56%
MSCI AC World (Net) Index
5.59 -0.44 5.87 6.62 4.63 3.81
FTSE Environmental Opportunities Index Series
9.56 4.19 7.27 6.92 0.00
MSCI World (Net) Index
4.91 -0.46 6.59 7.91 4.80 4.35
PWCAX Pax Sustainable Managers Capital Appreciation Fund - Individual Investor Class
04/01/2016 5.36 -0.21 5.59 7.18 0.00 7.35
PGPAX Pax Sustainable Managers Capital Appreciation Fund - Class A
01/04/2010 5.41 -0.16 5.61 7.19 0.00 7.36 0.96% 2.57%
PMIIX Pax Sustainable Managers Capital Appreciation Fund - Institutional Investor Class
01/04/2010 5.59 0.07 5.94 7.50 0.00 7.64 0.71% 2.32%
PWCCX Pax Sustainable Managers Capital Appreciation Fund - Class C
01/04/2010 4.96 -0.94 4.82 6.38 0.00 6.54 1.71% 3.32%
55% S&P 500 / 25% MSCI EAFE (Net) / 20% Barclays U.S. Aggregate
5.60 2.45 7.57 8.93 6.03 8.98
30% Russell 1000 / 15% Russell 2000 / 19% MSCI EAFE (Net) / 6% MSCI Emerging Markets (Net) / 18% Ba
6.67 1.84 6.08 7.33 6.13 8.16
PWTRX Pax Sustainable Managers Total Return Fund - Individual Investor Class
04/01/2016 4.82 1.66 4.61 4.92 0.00 5.50 0.89% 3.47%
PWMAX Pax Sustainable Managers Total Return Fund - Class A
01/04/2010 4.77 1.61 4.59 4.91 0.00 5.49 0.89% 3.47%
PWMIX Pax Sustainable Managers Total Return Fund - Institutional Class
01/04/2010 4.94 1.81 4.82 5.16 0.00 5.74 0.64% 3.22%
PWMCX Pax Sustainable Managers Total Return Fund - Class C
01/04/2010 4.33 0.82 3.77 4.12 0.00 4.69 1.64% 4.22%
24% S&P 500 / 11% MSCI EAFE (Net) / 65% Barclays U.S. Aggregate
5.89 4.58 5.79 6.02 5.69 6.52
16% Russell 1000 / 7% Russell 2000 / 9.25% MSCI EAFE (Net) / 2.75% MSCI Emerging Markets (Net) / 52%
6.51 4.05 5.19 5.55 5.81 6.43
PAXWX Pax Balanced Fund - Individual Investor Class
08/10/1971 5.25 3.25 6.55 6.75 4.82 8.33 0.93% 0.93%
PAXIX Pax Balanced Fund - Institutional Class
04/02/2007 5.45 3.52 6.83 7.03 5.07 8.38 0.68% 0.68%
PAXRX Pax Balanced Fund - Class R
04/02/2007 5.10 3.02 6.30 6.49 4.60 8.28 1.18% 1.18%
S&P 500 Index
7.66 5.61 11.16 13.38 7.75
60% S&P 500 Index / 40% Barclays U.S. Aggregate Bond Index
7.10 6.00 8.50 9.56 6.98
Lipper Mixed-Asset Target Growth Funds Index
5.67 2.03 6.68 8.11 6.00
PWMDX Pax Mid Cap Fund - Individual Investor Class
03/31/2016 0.00 0.00 0.00 0.00 0.00 6.40 1.14% 1.14%
PMIDX Pax Mid Cap Fund - Institutional Class
03/31/2016 0.00 0.00 0.00 0.00 0.00 6.44 0.89% 0.89%
Russell Midcap Index
10.31 4.37 10.37 12.73 8.79 6.97
Lipper Mid-Cap Core Funds Index
8.78 1.42 8.20 10.44 7.79 7.89
PXWGX Pax ESG Beta Quality Fund - Individual Investor Class
06/11/1997 3.88 0.60 10.23 10.53 7.13 4.68 0.90% 0.90%
PXGAX Pax ESG Beta Quality Fund - Class A
05/01/2013 3.83 0.56 10.22 10.53 7.13 4.68 0.90% 0.90%
PWGIX Pax ESG Beta Quality Fund - Institutional Class
04/02/2007 3.96 0.78 10.47 10.79 7.35 4.80 0.65% 0.65%
PXGRX Pax ESG Beta Quality Fund - Class R
04/02/2007 3.67 0.29 9.95 10.23 6.90 4.56 1.15% 1.15%
Russell 1000 Index
7.69 4.84 10.93 13.22 7.89
Lipper Multi-Cap Growth Funds Index
2.46 -2.54 10.12 11.22 8.10
Russell 1000 Growth Index
6.15 4.35 12.86 13.62 9.50
PXINX Pax MSCI International ESG Index Fund - Individual Investor Class
03/31/2014 -0.32 -7.07 1.63 3.54 0.00 3.08 0.80% 0.80%
PXNIX Pax MSCI International ESG Index Fund - Institutional Class
03/31/2014 -0.22 -6.85 1.93 3.78 0.00 3.35 0.55% 0.55%
PXIRX Pax MSCI International ESG Index Fund - Class R
03/31/2014 -0.57 -7.46 1.32 3.25 0.00 2.82 1.05% 1.05%
MSCI EAFE ESG (Net) Index
0.25 -5.91 3.15 4.22 0.00 3.93
MSCI EAFE (Net) Index
0.42 -7.53 2.00 3.02 1.98 2.70
Lipper International Large-Cap Core Funds Index
1.79 -7.48 1.53 2.39 1.69 2.20
PXWEX Pax Ellevate Global Women's Index Fund - Individual Investor Class
10/01/1993 6.02 1.98 7.71 7.34 3.64 6.32 0.90% 0.90%
PXWIX Pax Ellevate Global Women's Index Fund - Institutional Class
04/19/2006 6.21 2.25 7.98 7.61 3.92 6.45 0.65% 0.65%
Pax Global Women's Leadership (Net) Index
4.67 2.40 0.00 0.00 0.00
MSCI World (Net) Index
4.91 -0.46 6.59 7.91 4.80
Lipper Global Multi-Cap Core Funds Index
4.58 -0.59 5.37 7.45 5.29

A 1.00% CDSC (contingent deferred sales charge) may be charged on any shares sold within 18 months of purchase over $1million. POP (public offering price) reflects the maximum sales load for the Growth, Small Cap, Global Environmental Markets, Capital Appreciation and Total Return Fund's Class A Shares of 5.50%.

A 1.00% CDSC (contingent deferred sales charge) may be charged on any shares sold within 18 months of purchase over $1million. POP (public offering price) reflects the maximum sales load for the High Yield Bond Fund's Class A Shares of 4.50%.

Equity investments are subject to market fluctuations, the fund’s share price can fall because of weakness in the broad market, a particular industry, or specific holdings. Emerging market and international investments involve risk of capital loss from unfavorable fluctuations in currency values, differences in generally accepted accounting principals, economic or political instability in other nations or increased volatility and lower trading volume. Investments in high yield bonds generally are subjected to greater price volatility based on fluctuations in issuer and credit quality. When investing in bonds, you are subject, but not limited to, the same interest rate, inflation and credit risks associated with the underlying bonds owned by the Fund. Funds that emphasize investments in smaller companies generally will experience greater price volatility. Investing in non-diversified funds generally will be more volatile and loss of principal could be greater than investing in more diversified funds.

1Note About Inception Dates

Inception of Pax Balanced Fund Institutional Class and Class R shares is April 2, 2007. The performance information shown for Institutional Class and Class R shares represents the performance of the Individual Investor Class R shares for the period prior to Institutional Class and Class R shares inception. Expenses have not been adjusted to reflect the expenses allocable to Institutional Class and Class R shares. If such expenses were reflected, the returns would be higher than those shown. For since inception returns for Institutional Class and Class R shares, please see Pax Balanced Fund Performance.

Inception of the Pax ESG Beta Quality Fund Institutional Class and Class R shares is April 2, 2007. The performance information shown for Institutional Class and Class R shares represents the performance of the Individual Investor Class shares for the period prior to Institutional Class and Class R shares inception. Expenses have not been adjusted to reflect the expenses allocable to Institutional Class shares; if such expenses were reflected, the returns would be higher than those shown. Expenses have not been adjusted to reflect the expenses allocable to Class R shares; if such expenses were reflected, the returns would be lower than those shown. For since inception returns for Institutional Class and Class R shares, please see Pax Beta Quality Fund Performance.

Inception of Pax High Yield Bond Fund Institutional Class shares is June 1, 2004. The performance information shown for Institutional Class shares represents the performance of the Individual Investor Class R shares for the period prior to Institutional Class inception. Expenses have not been adjusted to reflect the expenses allocable to Institutional Class shares. Inception of Pax World High Yield Bond Fund Class R shares is April 2, 2007. The performance information shown for Class R shares represents the performance of the Individual Investor Class R shares for the period prior to Class R inception. Expenses have not been adjusted to reflect the expenses allocable to Institutional Class shares.If such expenses were reflected, the returns would be higher than those shown. For since inception returns for Institutional Class and Class R shares, please see Pax High Yield Bond Fund Performance.

Inception of Pax Ellevate Global Women’s Index Fund Institutional Class shares is April 19, 2006. Effective June 4, 2014, the Pax Ellevate Global Women’s Index Fund acquired the assets of the Pax World Global Women’s Equality Fund, a series of Pax World Funds Series Trust I, pursuant to an Agreement and Plan of Reorganization dated May 28, 2014. Pax World Global Women’s Equality Fund acquired Women’s Equity Fund, a series of Professionally Managed Portfolios (“Old Women’s Equity Fund”), on October 29, 2007. Performance information shown includes the performance of Retail Class shares of Old Women’s Equity Fund for periods prior to October 29, 2007, which has not been adjusted to reflect any differences in expenses between Old Women’s Equity Fund and the Pax World Global Women’s Equality Fund; if such expense adjustments were reflected, the returns would be higher than those shown. The Fund’s investment adviser assumed certain expenses during the period; total returns would have been lower had these expenses not been assumed. Total return figures include reinvested dividends and capital gains distributions, and changes in principal value, and, other than for Individual Investor Class Shares, do not reflect the taxes that a shareholder might pay on Fund distributions or on the redemption of Fund shares. These figures represent past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For more recent month-end performance data, please see Pax Ellevate Global Women's Index Fund Performance.

Inception of Class A shares for High Yield Bond, Growth, Small Cap, and Global Environmental Markets Funds' is May 1, 2013. The performance information shown for Class A represents the performance of the Individual Investor Class shares for the period prior to Class A inception.

Notes About Expenses

Total annual Balanced Fund operating expenses, gross of any fee waivers or reimbursements are 0.93% for the Individual Investor Class, 0.68% for the Institutional Class and 1.18% for the Class R as of 4/1/2016 prospectus.

Total annual Pax ESG Beta Quality Fund operating expenses, gross of any fee waivers or reimbursements, for Individual Investor Class, Class A, Institutional Class and Class R shares are 0.90%, 0.90%, 0.65% and 1.15%, respectively, as of 4/1/2016 prospectus. The management fee is a unified fee that includes all of the operating costs and expenses of the Fund (other than taxes, charges of governmental agencies, interest, brokerage commissions incurred in connection with portfolio transactions, distribution and/or service fees payable under a plan pursuant to Rule 12b-1 under the Investment Company Act of 1940 and extraordinary expenses), including accounting expenses, administrator, transfer agent and custodian fees, Fund legal fees and other expenses. (For this purpose, Pax World Management does not consider acquired fund fees and expenses to be operating costs and expenses of the Fund.)

Total annual High Yield Bond Fund operating expenses, gross of any fee waivers or reimbursements, for Individual Investor Class, Class A, Institutional Class and Class R shares are .96%, 0.96%, 0.71% and 1.21%, respectively, as of 4/1/2016 prospectus.

Total annual Global Environmental Markets Fund operating expenses, gross of any fee waivers or reimbursements, for Institutional Class, Individual Investor Class, Class A and Class R shares are 0.98%, 1.23%, 1.23% and 1.48%, respectively, effective 6/29/16 per the 6/20/16 prospectus supplement. The Global Environmental Markets Fund’s investment adviser has contractually agreed to reimburse expenses (excluding Acquired Fund Fees and Expenses, if any) allocable to Institutional Class, Individual Investor Class, Class A and Class R shares of the Global Environmental Markets Fund to the extent such expenses exceed 0.98%, 1.23%, 1.23% and 1.48% of the average daily net assets of the Institutional Class, Individual Investor Class, Class A and Class R shares, respectively. This reimbursement arrangement may not be amended or terminated without the approval of the Fund’s Board of Trustees before December 31, 2017.

Total annual Small Cap Fund operating expenses, gross of any fee waivers or reimbursements, for Institutional Class, Individual Investor Class, Class A and Class R shares are 0.98%, 1.23%, 1.23%and 1.48% respectively, as of 4/1/2016 prospectus.

Total annual Pax Ellevate Global Women's Index Fund operating expenses, gross of any fee waivers or reimbursements, for Individual Investor Class and Institutional Class shares are 0.90% and 0.65%, respectively, as of 4/1/2016 prospectus.

Total annual Pax MSCI International ESG Index Fund operating expenses, gross of any fee waivers or reimbursements, for Individual Investor Class, Institutional Class and Class R shares are 0.80%, 0.55% and 1.05% as of 4/1/2016 prospectus.

Effective 4/1/2016, the Capital Appreciation Fund All-In Net expense ratio includes direct expenses (“Net”) and indirect expenses (Acquired Fund Fees and Expenses "AFFE”) of 0.63%. AFFE are fees and expenses charged by ther investment companies in which the Fund invests a portion of its assets and are not direct costs paid by Fund shareholders. The All-In Net expense ratio for the Individual Investor Class and Class A is 1.59%, for Class C is 2.34%, and for the Institutional Class is 1.34%. Capital Appreciation Fund expense ratios, net of fee waivers and reimbursements,  but excluding indirect AFFE, are 0.71%, 0.96%, 0.96%, and 1.71% for Institutional Class, Individual Investor Class, Class A and Class C, respectively. Capital Appreciation operating expenses, gross of any fee waivers or reimbursements and including AFFE, are 2.32%, 2.57%, 2.57% and 3.32% for Institutional Class, Individual Investor Class, Class A and Class C, respectively. The Adviser has agreed contractually to reimburse a portion of each Fund’s expenses until at least December 31, 2017.

Effective 4/1/2016, the Total Return Fund All-In Net expense ratio includes direct expenses (“Net”) and indirect expenses (Acquired Fund Fees and Expenses "AFFE”) of 0.59%. AFFE are fees and expenses charged by other investment companies in which the Fund invests a portion of its assets and are not direct costs paid by Fund shareholders. The All-In Net expense ratio for the Individual Investor Class and Class A is 1.48%, for Class C is 2.23%, and for the Institutional Class is 1.23%. Total Return Fund expense ratios, net of fee waivers and reimbursements, but excluding indirect AFFE, are 0.64%, 0.89%, 0.89% and 1.64% for Institutional Class, Individual Investor Class, Class A and Class C, respectively. Total Return Fund operating expenses, gross of any fee waivers or reimbursements and including AFFE, are 3.22%, 3.47%, 3.47% and 4.22% for Institutional Class, Individual Investor Class, Class A and Class C, respectively. The Adviser has agreed contractually to reimburse a portion of each Fund’s expenses until at least December 31, 2017.

Pax Sustainable Managers Funds

Effective March 29, 2016 the ESG Managers Growth Portfolio was consolidated into the ESG Managers Growth and Income Portfolio, and the ESG Managers Growth and Income Portfolio was renamed the Pax Sustainable Managers Capital Appreciation Fund. The ESG Managers Balanced Portfolio was consolidated into the ESG Managers Income Portfolio, and the ESG Managers Income Portfolio was renamed the Pax Sustainable Managers Total Return Fund.

Pax World Management LLC is the investment adviser to the Pax Sustainable Managers Funds. Morningstar Investment Management, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., serves as portfolio construction adviser to the Pax Sustainable Managers Funds and is responsible for manager selection, asset allocation, portfolio construction and monitoring, but does not serve in the capacity of investment advisor to individual investors. The Morningstar name and logo are the property of Morningstar, Inc.