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 12/31/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Balanced Fund - Investor Class-4.45-8.15-4.08-4.084.724.297.858.08
Pax Balanced Fund - Institutional Class1-4.42-8.14-3.85-3.854.984.548.128.15
S&P 500 Index-9.03-13.52-4.38-4.389.268.4913.12
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index-4.68-7.56-2.35-2.356.506.249.42
Morningstar Allocation--50% to 70% Equity-4.94-8.64-5.76-5.764.713.678.33
Quarterly Total Returns
(As of 12/31/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Balanced Fund - Investor Class-4.45-8.15-4.08-4.084.724.297.858.08
Pax Balanced Fund - Institutional Class1-4.42-8.14-3.85-3.854.984.548.128.15
S&P 500 Index-9.03-13.52-4.38-4.389.268.4913.12
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index-4.68-7.56-2.35-2.356.506.249.42
Morningstar Allocation--50% to 70% Equity-4.94-8.64-5.76-5.764.713.678.33
1 Institutional Class Inception date return since April 2, 2007 is 4.27 (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 12/31/2018)
 Value
Standard Deviation 6.59
Alpha -0.06
Beta 0.58
R-Squared 91
Standard Deviation 6.61
Alpha -0.04
Beta 0.58
R-Squared 91


Morningstar Ratings
(As of 12/31/2018)
 Overall3 Year5 Year10 Year
Pax Balanced Fund - Investor Class ★★★ ★★★ ★★★ ★★★
Pax Balanced Fund - Institutional Class ★★★ ★★★ ★★★★ ★★★
# In Peer Group 697 697 610 440


Morningstar Percentile Rankings
(As of 12/31/2018)
 Morningstar Allocation-50% to 70% Equity1 Year3 Year5 Year10 Year
Pax Balanced Fund - Investor Class Percentile Rank 25 52 34 63
  Prime Rank 186 364 210 276
  # In Peer Group 775 697 610 440
Pax Balanced Fund - Institutional Class Percentile Rank 22 42 28 55
  Prime Rank 157 283 163 240
  # In Peer Group 775 697 610 440


Net Asset Values
(As of 01/18/2019)
 N.A.V.% Change
Pax Balanced Fund - Investor Class $21.97 0.69
Pax Balanced Fund - Institutional Class $22.32 0.68

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 12/31/2018)


Portfolio Statistics
(As of 12/31/2018)
 Value
Assets (all share classes)$1,689,579,451
Number of Holdings (All)*7
Turnover Ratio (12/31/2017)14

* Allocations look through to underlying fund holdings.


Top Sectors
(As of 12/31/2018)


Manager Allocation (Equity Strategy)
(As of 12/31/2018)


Manager Allocation (Fixed Allocation Strategy)
(As of 12/31/2018)


Top Ten Holdings - Equity
(As of 12/31/2018)


Top Ten Holdings - Fixed Income
(As of 12/31/2018)
 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