U.S. News & World Report says the Pax Ellevate Global Women’s Leadership Fund is one of eight global funds to consider when building a diversified ESG portfolio.
As of 9/30/18, Microsoft Corp. was 4% of holdings of the Pax Ellevate Global Women’s Leadership Fund, while Michael Kors Holdings, Ltd., Wolters Kluwer NV, and Target Corp. all held 2% in the Fund.
The Morningstar Ratings™ shown are as of 8/31/18. The Morningstar Sustainability Rating™ measures how well the companies in a fund’s portfolio manage their environmental, social and governance (ESG) risks and opportunities relative to the fund’s peers. First, a Morningstar Portfolio Sustainability Score™ ranging from 0 to 100 is derived from an asset weighted average of the underlying company ESG scores quarterly. Next, scored funds are rated monthly: The top 10% receive 5 globes (High), the next 22.5% receive 4 (Above Average), the next 35% receive 3 (Average), the next 22.5% receive 2 (Below Average), and the bottom 10% receive 1 (Low). Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. A higher score indicates that a fund, on average, has more of its assets invested in companies that score well according to the Sustainalytics methodology. For details, visit http://morningstar.com/company/sustainability. © 2018 Morningstar. All rights reserved.
Sustainability Score for the Pax Ellevate Global Women’s Leadership Fund as of 6/30/2018 is 52. Percent Rank in Category is 6 and Sustainability Rating is 5 globes as of 8/31/2018. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score.
Pax Ellevate Global Women's Leadership Fund Investor Class (PXWEX) Morningstar ratings (as of 9/30/18) were 4 stars out of 739 funds overall, 4 stars out of 739 funds for 3-years, 4 stars out of 611 funds for 5-years. Pax Ellevate Global Women's Leadership Fund Institutional Class (PXWIX) Morningstar ratings were 4 stars out of 739 funds overall, 4 stars out of 739 funds for 3-years, 4 stars out of 611 funds for 5-years.
The Morningstar Rating for funds, or ‘star rating’, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and ten- year (if applicable) Morningstar Rating metrics. The weights are 100% three-year rating for 36-59 months of total returns, 60% five-year rating, 40% three-year rating for 60-119 months of total returns, and 50% ten-year rating, 30% five-year rating, 20% three-year rating for 120 or more months of total returns. While the ten-year overall rating formula seems to give the most weight to the ten-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.