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 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 Small Cap Fund - Investor Class3.928.1616.991.986.725.2813.178.50
Pax Small Cap Fund - Class A53.938.1016.941.936.725.2713.168.49
Pax Small Cap Fund - Institutional Class3.888.1617.002.166.995.5313.468.77
Russell 2000 Index3.406.5018.484.6113.608.6314.109.29
Lipper Small-Cap Core Funds Index4.206.8518.405.4112.618.2113.879.20
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 Small Cap Fund - Investor Class0.6712.5712.57-2.485.564.1613.638.19
Pax Small Cap Fund - Class A50.6012.5212.52-2.485.534.1513.628.18
Pax Small Cap Fund - Institutional Class0.6612.6212.62-2.215.814.4213.928.47
Russell 2000 Index-2.0914.5814.582.0512.927.0515.369.04
Lipper Small-Cap Core Funds Index-2.0913.6313.631.6311.556.7715.078.87
5 Class A Inception date return since May 1, 2013 is 8.87 (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 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 Small Cap Fund - Class A (Load)-1.752.1910.49-3.674.734.0912.527.94
Performance after Sales Charge
(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 Small Cap Fund - Class A (Load)-4.946.316.31-7.863.552.9712.977.63


Risk Statistics
(As of 04/30/2019)
 3 - Year
Standard Deviation 12.18
Alpha -0.24
Beta 0.72
R-Squared 87
Standard Deviation 12.20
Alpha -0.24
Beta 0.72
R-Squared 87
Standard Deviation 12.16
Alpha -0.22
Beta 0.72
R-Squared 87

Based on total returns.


Morningstar Ratings
(As of 04/30/2019)
 Small BlendOverall3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Rating ★★ ★★ ★★★
Pax Small Cap Fund - Class A Rating ★★ ★★ ★★★
Pax Small Cap Fund - Institutional Class Rating ★★★ ★★ ★★ ★★★★
  # In Peer Group 629 629 525 378

Based on risk adjusted returns.


Lipper Rankings
(As of 04/30/2019)
 Small-Cap Core1 Year3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Percentile Rank 66 96 84 56
  Prime Rank 648 820 603 316
  # In Peer Group 983 857 726 568
Pax Small Cap Fund - Class A Percentile Rank 67 96 84 56
  Prime Rank 653 821 604 317
  # In Peer Group 983 857 726 568
Pax Small Cap Fund - Institutional Class Percentile Rank 64 95 81 47
  Prime Rank 628 810 582 264
  # In Peer Group 983 857 726 568

Based on total returns.


Net Asset Values
(As of 05/17/2019)
 N.A.V.% Change
Pax Small Cap Fund - Investor Class $13.95 -0.57
Pax Small Cap Fund - Institutional Class $14.08 -0.64
Pax Small Cap Fund - Class A $13.91 -0.64

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)$442,706,027
Number of Holdings (All)56
Turnover Ratio (12/31/2018)57


Top Sectors
(As of 04/30/2019)


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