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 10/31/2018)
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-9.70-11.42-9.75-6.924.374.5911.948.02
Pax Small Cap Fund - Class A5-9.71-11.39-9.77-6.874.384.5911.948.02
Pax Small Cap Fund - Institutional Class-9.67-11.33-9.56-6.644.654.8512.238.30
Russell 2000 Index-10.86-9.26-0.601.8510.688.0112.449.14
Lipper Small-Cap Core Funds Index-9.88-8.25-1.431.3710.157.6712.808.98
Quarterly Total Returns
(As of 09/30/2018)
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 Class-2.26-1.56-0.065.459.137.0910.159.14
Pax Small Cap Fund - Class A5-2.21-1.56-0.065.469.127.1010.159.14
Pax Small Cap Fund - Institutional Class-2.24-1.490.125.729.407.3710.449.43
Russell 2000 Index-2.413.5811.5115.2417.1211.0711.1110.42
Lipper Small-Cap Core Funds Index-2.073.919.3913.9516.2310.6211.2810.15
5 Class A Inception date return since May 1, 2013 is 7.98 (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 10/31/2018)
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)-14.67-16.26-14.71-12.012.433.4111.307.44
Performance after Sales Charge
(As of 09/30/2018)
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)-7.57-6.99-5.54-0.367.075.899.528.56


Risk Statistics
(As of 10/31/2018)
 Value
Standard Deviation 10.62
Alpha -0.23
Beta 0.68
R-Squared 85
Standard Deviation 10.63
Alpha -0.21
Beta 0.68
R-Squared 85


Morningstar Ratings
(As of 10/31/2018)
 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 653 653 542 395


Lipper Rankings
(As of 10/31/2018)
 Small-Cap Core1 Year3 Year5 Year10 Year
Pax Small Cap Fund - Investor Class Percentile Rank 95 95 90 57
  Prime Rank 949 802 645 327
  # In Peer Group 1003 852 722 577
Pax Small Cap Fund - Class A Percentile Rank 95 95 90 57
  Prime Rank 946 801 647 328
  # In Peer Group 1003 852 722 577
Pax Small Cap Fund - Institutional Class Percentile Rank 94 93 88 49
  Prime Rank 941 787 634 279
  # In Peer Group 1003 852 722 577


Net Asset Values
(As of 12/07/2018)
 N.A.V.% Change
Pax Small Cap Fund - Investor Class $14.68 -1.41
Pax Small Cap Fund - Institutional Class $14.82 -1.40
Pax Small Cap Fund - Class A $14.65 -1.41

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 10/31/2018)


Portfolio Statistics
(As of 10/31/2018)
 Value
Assets (all share classes)$619,044,393
Number of Holdings (All)55
Turnover Ratio (12/31/2017)56


Top Sectors
(As of 10/31/2018)


Top Ten Holdings
(As of 10/31/2018)