Pax Small Cap FundPXSCXPXSAXPXSIX

High conviction strategy with strong emphasis on risk management 

Overview


A core strategy focused on high quality companies at reasonable prices. The manager emphasizes downside risk management and a disciplined sell process.


Performance & Risk


Monthly Total Returns
(As of 07/31/2018)
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 Small Cap Fund - Investor Class0.365.491.899.767.008.319.949.50
Pax Small Cap Fund - Class A50.305.441.839.716.998.299.939.49
Pax Small Cap Fund - Institutional Class0.365.512.0010.017.268.5610.229.78
Russell 2000 Index1.748.699.5418.7312.0411.3310.3910.40
Lipper Small-Cap Core Funds Index2.077.717.4416.8811.8910.8210.2510.12
Quarterly Total Returns
(As of 06/30/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Small Cap Fund - Investor Class2.404.451.529.806.389.7410.099.54
Pax Small Cap Fund - Class A52.404.531.539.826.399.7510.099.54
Pax Small Cap Fund - Institutional Class2.384.541.6310.126.6510.0210.389.83
Russell 2000 Index0.727.757.6617.5710.9612.4610.6010.31
Lipper Small-Cap Core Funds Index0.606.015.2715.4510.7511.7510.0510.00
5 Class A Inception date return since May 1, 2013 is 10.90 (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.

A 1.00% CDSC (contingent deferred sales charge) may be charged on any shares sold within 18 months of purchase over $1 million. POP (public offering price) reflects the maximum sales load for the Fund’s Class A Shares of 5.50%.


Performance after Sales Charge
(As of 07/31/2018)
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 Small Cap Fund - Class A (Load)-5.23-0.36-3.753.674.997.079.318.90
Performance after Sales Charge
(As of 06/30/2018)
Month End | Quarter End Average Annual Returns (%)
1
Month
3
Month
Year-to-
Date
1
Year
3
Year
5
Year
10
Year
Since
Inception1
Pax Small Cap Fund - Class A (Load)-3.26-1.25-4.043.814.418.519.478.94


Risk Statistics
(As of 07/31/2018)
 Value
Standard Deviation 9.51
Alpha -0.05
Beta 0.64
R-Squared 86
Standard Deviation 9.52
Alpha -0.03
Beta 0.64
R-Squared 86


Morningstar Ratings
(As of 07/31/2018)
 Overall3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class ★★★ ★★ ★★ ★★★★
Pax Small Cap Fund - Class A (Load) - - - -
Pax Small Cap Fund - Class A ★★ ★★ ★★ ★★★★
Pax Small Cap Fund - Institutional Class ★★★ ★★ ★★ ★★★★
# In Peer Group 646 646 547 393


Lipper Rankings
(As of 07/31/2018)
 Small-Cap Core1 Year3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Percentile Rank 94 91 84 50
  Prime Rank 931 756 606 287
  # In Peer Group 1001 837 723 574
Pax Small Cap Fund - Class A Percentile Rank 94 91 84 51
  Prime Rank 932 757 607 288
  # In Peer Group 1001 837 723 574
Pax Small Cap Fund - Institutional Class Percentile Rank 92 89 81 42
  Prime Rank 918 739 585 237
  # In Peer Group 1001 837 723 574


Net Asset Values
(As of 08/13/2018)
 N.A.V.% Change
Pax Small Cap Fund - Investor Class $16.49 -0.78
Pax Small Cap Fund - Institutional Class $16.64 -0.78
Pax Small Cap Fund - Class A $16.46 -0.78

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 07/31/2018)


Portfolio Statistics
(As of 07/31/2018)
 Value
Assets (all share classes)$765,321,980
Number of Holdings (All)51
Turnover Ratio (12/31/2017)56


Top Sectors
(As of 07/31/2018)


Top Ten Holdings
(As of 07/31/2018)