Pax Balanced FundPAXWXPAXIX

A Multi-Asset ESG Strategy  

MORNINGSTAR RATING 
★★★★
Out of 658 Allocation 50% to 70% Equity Funds based on risk adjusted returns as of 8/31/19

Overview


A multi-asset ESG strategy that utilizes a dynamic, risk-focused asset allocation approach and diversifies across a broad range of Pax funds.


Performance & Risk


Monthly Total Returns
(As of 08/31/2019)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Balanced Fund - Investor Class5.2613.133.827.125.557.768.25
Pax Balanced Fund - Institutional Class15.2913.344.077.395.828.038.32
S&P 500 Index-1.586.8718.342.9212.7010.1113.45
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index0.095.8214.816.228.987.579.77
Morningstar Allocation--50% to 70% Equity-0.644.2412.292.486.824.948.07
Quarterly Total Returns
(As of 06/30/2019)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Balanced Fund - Investor Class4.553.7312.367.367.955.728.438.26
Pax Balanced Fund - Institutional Class14.553.7912.547.618.225.998.718.33
S&P 500 Index7.054.3018.5410.4214.1910.7114.70
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index4.733.9613.649.879.517.7510.50
Morningstar Allocation--50% to 70% Equity4.282.9512.215.737.795.048.93
1 Institutional Class Inception date return since April 2, 2007 is 5.09 (annualized).

Performance data quoted represent 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.



Risk Statistics
(As of 08/31/2019)
 3 - Year
Standard Deviation 7.17
Alpha -0.01
Beta 0.57
R-Squared 92
Standard Deviation 7.16
Alpha 0.01
Beta 0.57
R-Squared 92


Morningstar Ratings
(As of 08/31/2019)
 Allocation-50% to 70% EquityOverall3 Year5 Year10 Year
Pax Balanced Fund - Investor Class Rating ★★★ ★★★ ★★★ ★★★
Pax Balanced Fund - Institutional Class Rating ★★★★ ★★★★ ★★★★ ★★★
  # In Peer Group 658 658 581 424

Based on risk adjusted returns.


Morningstar Percentile Rankings
(As of 08/31/2019)
 Morningstar Allocation-50% to 70% Equity1 Year3 Year5 Year10 Year
Pax Balanced Fund - Investor Class Percentile Rank 33 41 34 58
  Prime Rank 259 256 193 249
  # In Peer Group 715 658 581 424
Pax Balanced Fund - Institutional Class Percentile Rank 29 34 30 50
  Prime Rank 232 208 160 216
  # In Peer Group 715 658 581 424

Based on total returns.


Net Asset Values
(As of 09/13/2019)
 N.A.V.% Change
Pax Balanced Fund - Investor Class $23.92 -0.13
Pax Balanced Fund - Institutional Class $24.32 -0.08

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 08/31/2019)


Portfolio Statistics
(As of 08/31/2019)
 Value
Assets (all share classes)$1,808,200,031
Number of Holdings (All)*9
Turnover Ratio (12/31/2018)12

* Allocations look through to underlying fund holdings.


Country Allocation
(As of 08/31/2019)
 Portfolio %
Australia 0.80
Belgium 0.10
Canada 0.20
Denmark 0.20
Finland 0.10
France 0.90
Germany 1.50
Hong Kong 0.30
India 0.10
Ireland 0.20
Italy 0.10
Japan 2.10
Netherlands 0.90
Norway 0.10
Portugal 0.10
Singapore 0.10
Spain 0.40
Supranational 1.00
Sweden 0.30
Switzerland 0.60
Taiwan 0.10
United Kingdom 1.50
United States 86.90


Top Sectors
(As of 08/31/2019)


Manager Allocation (Equity Strategy)
(As of 08/31/2019)


Manager Allocation (Fixed Allocation Strategy)
(As of 08/31/2019)


Top Ten Holdings - Equity
(As of 08/31/2019)


Top Ten Holdings - Fixed Income
(As of 08/31/2019)
 Portfolio %
United States Treasury Note, 2.375%, 08/15/24 2.30
United States Treasury Note, 3.125%, 08/15/44 1.00
United States Treasury Note, 4.500%, 02/15/36 0.70
United States Treasury Note, 2.125%, 09/30/21 0.60
United States Treasury Note, 1.750%, 09/30/19 0.40
United States Treasury Note, 0.875%, 10/15/18 0.40
United States Treasury Note, 2.250%, 11/15/24 0.30
United States Treasury Note, 6.250%, 10/15/30 0.30
Fannie Mae, 2.000%, 11/14/22 0.30
United States Treasury Note, 4.375%, 11/15/39 0.30