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 04/30/2019)
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 Class2.535.8611.077.257.926.198.908.26
Pax Balanced Fund - Institutional Class12.535.9511.187.518.186.469.178.33
S&P 500 Index4.059.4818.2513.4914.8711.6315.32
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index2.446.4111.9810.499.688.1010.77
Morningstar Allocation--50% to 70% Equity2.235.4411.396.027.895.539.42
Quarterly Total Returns
(As of 03/31/2019)
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 Class1.428.338.334.747.295.749.148.22
Pax Balanced Fund - Institutional Class11.448.438.434.997.566.009.428.29
S&P 500 Index1.9413.6513.659.5013.5110.9115.92
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index1.939.319.317.788.957.7511.14
Morningstar Allocation--50% to 70% Equity1.168.898.893.907.445.129.98
1 Institutional Class Inception date return since April 2, 2007 is 5.07 (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 04/30/2019)
 3 - Year
Standard Deviation 6.52
Alpha -0.05
Beta 0.58
R-Squared 91
Standard Deviation 6.53
Alpha -0.03
Beta 0.58
R-Squared 91


Morningstar Ratings
(As of 04/30/2019)
 Allocation-50% to 70% EquityOverall3 Year5 Year10 Year
Pax Balanced Fund - Investor Class Rating ★★★ ★★★ ★★★★ ★★
Pax Balanced Fund - Institutional Class Rating ★★★ ★★★ ★★★★ ★★★
  # In Peer Group 688 688 605 444

Based on risk adjusted returns.


Morningstar Percentile Rankings
(As of 04/30/2019)
 Morningstar Allocation-50% to 70% Equity1 Year3 Year5 Year10 Year
Pax Balanced Fund - Investor Class Percentile Rank 33 51 34 67
  Prime Rank 219 335 206 294
  # In Peer Group 756 688 605 444
Pax Balanced Fund - Institutional Class Percentile Rank 31 40 29 57
  Prime Rank 204 267 171 257
  # In Peer Group 756 688 605 444

Based on total returns.


Net Asset Values
(As of 05/17/2019)
 N.A.V.% Change
Pax Balanced Fund - Investor Class $23.10 -0.39
Pax Balanced Fund - Institutional Class $23.49 -0.38

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 04/30/2019)


Portfolio Statistics
(As of 04/30/2019)
 Value
Assets (all share classes)$1,817,787,671
Number of Holdings (All)*8
Number of Holdings (Equity)292
Turnover Ratio (12/31/2018)12

* Allocations look through to underlying fund holdings.


Country Allocation
(As of 04/30/2019)
 Portfolio %
Australia 0.80
Belgium 0.10
Bermuda 0.10
Canada 0.30
Denmark 0.20
Finland 0.10
France 1.00
Germany 1.50
Hong Kong 0.30
India 0.10
Ireland 0.10
Italy 0.10
Japan 2.00
Netherlands 0.80
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 1.40
United States 86.40


Top Sectors
(As of 04/30/2019)


Manager Allocation (Equity Strategy)
(As of 04/30/2019)


Manager Allocation (Fixed Allocation Strategy)
(As of 04/30/2019)


Top Ten Holdings - Equity
(As of 04/30/2019)


Top Ten Holdings - Fixed Income
(As of 04/30/2019)
 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