Pax Small Cap FundPXSCXPXSAXPXSIX

High conviction strategy with strong emphasis on risk management 

MORNINGSTAR RATING 
★★★★
Out of 639 Small Blend Funds based on risk adjusted returns as of 8/31/19
MORNINGSTAR RATING 
★★★★
Out of 639 Small Blend Funds based on risk adjusted returns as of 8/31/19

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 08/31/2019)
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 Class-2.302.7414.46-5.754.403.9011.158.03
Pax Small Cap Fund - Class A5-2.302.6814.42-5.754.393.8911.148.03
Pax Small Cap Fund - Institutional Class-2.272.8414.64-5.524.674.1611.418.31
Russell 2000 Index-4.942.3711.85-12.897.896.4111.598.46
Lipper Small-Cap Core Funds Index-4.543.3712.55-10.517.916.3411.398.44
Quarterly Total Returns
(As of 06/30/2019)
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 Class5.384.2917.41-2.636.584.2212.068.41
Pax Small Cap Fund - Class A55.334.3117.37-2.686.584.2112.068.40
Pax Small Cap Fund - Institutional Class5.464.3817.55-2.366.874.4912.368.69
Russell 2000 Index7.072.1016.98-3.3112.307.0613.459.03
Lipper Small-Cap Core Funds Index7.162.6816.67-1.5611.496.8013.098.92
5 Class A Inception date return since May 1, 2013 is 8.01 (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 08/31/2019)
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)-7.68-2.998.11-10.912.442.7210.517.50
Performance after Sales Charge
(As of 06/30/2019)
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)-0.49-1.4010.89-8.044.593.0311.437.86


Risk Statistics
(As of 08/31/2019)
 3 - Year
Standard Deviation 12.81
Alpha -0.11
Beta 0.71
R-Squared 88
Standard Deviation 12.80
Alpha -0.11
Beta 0.71
R-Squared 88
Standard Deviation 12.79
Alpha -0.08
Beta 0.71
R-Squared 88

Based on total returns.


Morningstar Ratings
(As of 08/31/2019)
 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 639 639 516 368

Based on risk adjusted returns.


Lipper Rankings
(As of 08/31/2019)
 Small-Cap Core1 Year3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Percentile Rank 10 75 72 43
  Prime Rank 94 639 516 241
  # In Peer Group 959 861 724 561
Pax Small Cap Fund - Class A Percentile Rank 10 75 72 44
  Prime Rank 95 642 517 243
  # In Peer Group 959 861 724 561
Pax Small Cap Fund - Institutional Class Percentile Rank 9 71 68 37
  Prime Rank 86 608 489 206
  # In Peer Group 959 861 724 561

Based on total returns.


Net Asset Values
(As of 09/13/2019)
 N.A.V.% Change
Pax Small Cap Fund - Investor Class $14.06 0.36
Pax Small Cap Fund - Institutional Class $14.19 0.28
Pax Small Cap Fund - Class A $14.02 0.29

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 08/31/2019)


Portfolio Statistics
(As of 08/31/2019)
 Value
Assets (all share classes)$424,723,857
Number of Holdings (All)55
Turnover Ratio (12/31/2018)57


Top Sectors
(As of 08/31/2019)


Top Ten Holdings
(As of 08/31/2019)