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 02/28/2019)
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 Class3.390.6611.82-1.847.493.9414.478.19
Pax Small Cap Fund - Class A53.400.6811.85-1.827.493.9414.478.19
Pax Small Cap Fund - Institutional Class3.430.7811.88-1.577.764.2014.778.47
Russell 2000 Index5.203.1317.035.5816.677.3616.609.32
Lipper Small-Cap Core Funds Index4.742.6616.064.8715.277.3216.319.15
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 Small Cap Fund - Investor Class-9.99-15.75-15.80-15.802.592.1412.017.20
Pax Small Cap Fund - Class A5-9.99-15.76-15.82-15.822.582.1312.017.19
Pax Small Cap Fund - Institutional Class-9.92-15.69-15.59-15.592.862.3912.307.47
Russell 2000 Index-11.88-20.20-11.01-11.017.364.4111.977.88
Lipper Small-Cap Core Funds Index-11.54-18.81-11.19-11.197.444.3312.247.79
5 Class A Inception date return since May 1, 2013 is 8.30 (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 02/28/2019)
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)-2.26-4.855.68-7.205.492.7713.827.63
Performance after Sales Charge
(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 Small Cap Fund - Class A (Load)-14.93-20.38-20.43-20.430.670.9811.396.63


Risk Statistics
(As of 02/28/2019)
 3 - Year
Standard Deviation 12.48
Alpha -0.36
Beta 0.73
R-Squared 89
Standard Deviation
Alpha
Beta
R-Squared 0
Standard Deviation 12.46
Alpha -0.34
Beta 0.73
R-Squared 89


Morningstar Ratings
(As of 02/28/2019)
 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 638 638 528 387


Lipper Rankings
(As of 02/28/2019)
 Small-Cap Core1 Year3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Percentile Rank 89 99 91 80
  Prime Rank 863 832 640 444
  # In Peer Group 974 847 710 562
Pax Small Cap Fund - Class A Percentile Rank 89 99 90 79
  Prime Rank 862 833 639 443
  # In Peer Group 974 847 710 562
Pax Small Cap Fund - Institutional Class Percentile Rank 88 98 89 73
  Prime Rank 852 826 631 408
  # In Peer Group 974 847 710 562


Net Asset Values
(As of 03/19/2019)
 N.A.V.% Change
Pax Small Cap Fund - Investor Class $13.47 -0.22
Pax Small Cap Fund - Institutional Class $13.60 -0.22
Pax Small Cap Fund - Class A $13.44 -0.22

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 02/28/2019)


Portfolio Statistics
(As of 02/28/2019)
 Value
Assets (all share classes)$472,197,465
Number of Holdings (All)54
Turnover Ratio (12/31/2018)57


Top Sectors
(As of 02/28/2019)


Top Ten Holdings
(As of 02/28/2019)