Pax Balanced FundPAXWXPAXIX

A Multi-Asset ESG Strategy  

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 04/30/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Balanced Fund - Investor Class0.13-3.56-0.667.555.367.064.738.29
Balanced Fund - Institutional Class10.13-3.50-0.567.825.637.335.008.35
S&P 500 Index0.38-5.77-0.3813.2710.5712.969.02
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index-0.07-3.89-1.037.746.828.367.11
Morningstar Allocation--50% to 70% Equity0.18-3.77-1.086.914.766.345.74
Quarterly Total Returns
(As of 03/31/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Balanced Fund - Investor Class-0.97-0.79-0.798.435.487.145.068.30
Balanced Fund - Institutional Class1-0.95-0.70-0.708.745.757.415.328.36
S&P 500 Index-2.54-0.76-0.7613.9910.7813.319.49
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index-1.27-0.97-0.978.816.998.727.42
Morningstar Allocation--50% to 70% Equity-0.90-1.26-1.267.784.896.556.06
1 Institutional Class Inception date return since April 2, 2007 is 4.85 (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 04/30/2018)
 Value
Standard Deviation 6.32
Alpha -0.08
Beta 0.60
R-Squared 93
Standard Deviation 6.34
Alpha -0.06
Beta 0.60
R-Squared 93


Morningstar Ratings
(As of 04/30/2018)
 Overall3 Year5 Year10 Year
Balanced Fund - Investor Class ★★★ ★★★ ★★★ ★★
Balanced Fund - Institutional Class ★★★ ★★★★ ★★★★ ★★
# In Peer Group 669 669 615 436


Morningstar Percentile Rankings
(As of 04/30/2018)
 Morningstar Allocation-50% to 70% Equity1 Year3 Year5 Year10 Year
Balanced Fund - Investor Class Percentile Rank 45 39 36 80
  Prime Rank 352 274 237 344
  # In Peer Group 766 669 615 436
Balanced Fund - Institutional Class Percentile Rank 37 30 31 76
  Prime Rank 293 208 200 324
  # In Peer Group 766 669 615 436


Net Asset Values
(As of 05/25/2018)
 N.A.V.% Change
Balanced Fund - Investor Class $22.74 -0.13
Balanced Fund - Institutional Class $23.12 -0.13

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 04/30/2018)


Portfolio Statistics
(As of 04/30/2018)
 Value
Assets (all share classes)$1,846,960,751
Number of Holdings (All)*5
Turnover Ratio (12/31/2016)14

* Allocations look through to underlying fund holdings.


Top Sectors
(As of 04/30/2018)


Manager Allocation (Equity Strategy)
(As of 04/30/2018)


Manager Allocation (Fixed Allocation Strategy)
(As of 04/30/2018)


Top Ten Holdings - Equity
(As of 04/30/2018)


Top Ten Holdings - Fixed Income
(As of 04/30/2018)
 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


Portfolio Management Team


Anthony Trzcinka, CFA® - Portfolio Manager
Nathan Moser, CFA® - Portfolio Manager
Andrew Braun - Portfolio Manager
Peter Schwab, CFA® - Portfolio Manager