Pax Sustainable Allocation Fund*PAXWXPAXIX

Diverse Portfolio, Diverse Impact 

MORNINGSTAR RATING 
★★★★
Out of 643 Allocation 50% to 70% Equity Funds based on risk adjusted returns as of 12/31/19

Overview


A risk-focused asset allocation fund offering a diversified portfolio of sustainable investment strategies providing a wide range of impact.


Performance & Risk


Monthly Total Returns
(As of 12/31/2019)
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 Sustainable Allocation Fund - Investor Class1.815.4220.8320.839.456.667.808.33
Pax Sustainable Allocation Fund - Institutional Class11.865.5121.1721.179.736.938.078.40
S&P 500 Index3.029.0731.4931.4915.2711.7013.56
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index1.785.4622.1822.1810.878.379.77
Morningstar Allocation--50% to 70% Equity2.005.0319.2319.238.556.227.90
Quarterly Total Returns
(As of 12/31/2019)
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 Sustainable Allocation Fund - Investor Class1.815.4220.8320.839.456.667.808.33
Pax Sustainable Allocation Fund - Institutional Class11.865.5121.1721.179.736.938.078.40
S&P 500 Index3.029.0731.4931.4915.2711.7013.56
60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index1.785.4622.1822.1810.878.379.77
Morningstar Allocation--50% to 70% Equity2.005.0319.2319.238.556.227.90
1 Institutional Class Inception date return since April 2, 2007 is 5.50 (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.



Risk Statistics
(As of 12/31/2019)
 3 - Year
Standard Deviation 7.15
Alpha 0.05
Beta 0.58
R-Squared 95
Standard Deviation 7.14
Alpha 0.07
Beta 0.58
R-Squared 95

Risk Statistics
(As of 10/31/2019)
 3 - Year
Standard Deviation7.10
Alpha
Beta0.57
R-Squared92
Standard Deviation7.09
Alpha0.03
Beta0.57
R-Squared92

Morningstar Ratings
(As of 12/31/2019)
 Allocation-50% to 70% EquityOverall3 Year5 Year10 Year
Pax Sustainable Allocation Fund - Investor Class Rating ★★★ ★★★★ ★★★ ★★★
Pax Sustainable Allocation Fund - Institutional Class Rating ★★★★ ★★★★ ★★★★ ★★★
  # In Peer Group 643 643 570 420

Based on risk adjusted returns.


Morningstar Percentile Rankings
(As of 12/31/2019)
 Morningstar Allocation-50% to 70% Equity1 Year3 Year5 Year10 Year
Pax Sustainable Allocation Fund - Investor Class Percentile Rank 27 33 38 53
  Prime Rank 176 192 204 225
  # In Peer Group 697 643 570 420
Pax Sustainable Allocation Fund - Institutional Class Percentile Rank 24 27 31 44
  Prime Rank 153 155 165 189
  # In Peer Group 697 643 570 420

Based on total returns.


Net Asset Values
(As of 01/17/2020)
 N.A.V.% Change
Pax Sustainable Allocation Fund - Investor Class $23.74 0.21
Pax Sustainable Allocation Fund - Institutional Class $24.15 0.21

Past performance does not guarantee future results.


Portfolio


Asset Allocation
(As of 12/31/2019)


Portfolio Statistics
(As of 12/31/2019)
 Value
Assets (all share classes)$1,915,454,572
Number of Holdings (All)*9
Turnover Ratio (12/31/2018)12

* Allocations look through to underlying fund holdings.


Country Allocation
(As of 12/31/2019)
 Portfolio %
Australia 0.80
Belgium 0.10
Canada 0.40
Denmark 0.20
Finland 0.10
France 1.10
Germany 1.40
Hong Kong 0.30
India 0.10
Ireland 0.20
Italy 0.10
Japan 2.10
Netherlands 0.80
Norway 0.10
Portugal 0.10
Singapore 0.10
Spain 0.40
Supranational 1.10
Sweden 0.30
Switzerland 0.60
Taiwan 0.10
United Kingdom 1.60
United States 85.30


Top Sectors
(As of 12/31/2019)


Manager Allocation (Equity Strategy)
(As of 12/31/2019)


Manager Allocation (Fixed Allocation Strategy)
(As of 12/31/2019)


Top Ten Holdings - Equity
(As of 12/31/2019)


Top Ten Holdings - Fixed Income
(As of 12/31/2019)
 Portfolio %
United States Treasury Note, 2.375%, 08/15/24 2.30
United States Treasury Note, 3.125%, 08/15/44 1.00
United States Treasury Note, 4.500%, 02/15/36 0.70
United States Treasury Note, 2.125%, 09/30/21 0.60
United States Treasury Note, 1.750%, 09/30/19 0.40
United States Treasury Note, 0.875%, 10/15/18 0.40
United States Treasury Note, 2.250%, 11/15/24 0.30
United States Treasury Note, 6.250%, 10/15/30 0.30
Fannie Mae, 2.000%, 11/14/22 0.30
United States Treasury Note, 4.375%, 11/15/39 0.30