Performance(as of 9/30/17)
|1-Month||Quarter||YTD||1 Year||3 Year||5 Year||10 Year||Since Inception1|
|Large Cap Fund - Individual Investor Class||1.19||3.75||12.68||-||-||-||-||11.74|
|Large Cap Fund - Institutional Class||1.19||3.85||12.86||-||-||-||-||11.91|
|S&P 500 Index||2.06||4.48||14.24||18.61||10.81||14.22||7.44||13.35|
|Lipper Large-Cap Core Funds Index||2.50||4.45||13.75||18.49||9.73||13.42||6.66||12.85|
Figures include reinvested dividends, capital gains distributions, and changes in principal value.
1The inception date for the Pax Large Cap Fund Institutional Class and the Individual Investor Class is December 16, 2016.
As of 5/1/17 prospectus, total annual Pax Large Cap Fund operating expenses, gross of any fee waivers or reimbursements (excluding Acquired Fund fees and expenses), for Individual Investor Class and Institutional Class shares are 0.96% and 0.71%, respectively.
(as of 9/30/17)
Sector: Average Active Weights (%)
|Total Relative Contribution (%)|
Portfolio Characteristics(as of 9/30/17)
|Market Cap (weighted avg.)∱||$224,613M||$177,837M|
|Number of Securities||43||505|
(as of 9/30/17)
Apple, Inc. 5.7%, Microsoft Corp. 5.4%, Amazon.com, Inc. 4.1%, Cisco Systems, Inc. 4.0%, Berkshire Hathaway, Inc., Class B 3.8%, Stanley Black & Decker, Inc. 3.3%, Ingersoll-Rand PLC 3.2%, Thermo Fisher Scientific, Inc. 2.9%, PepsiCo, Inc. 2.9% and Merck & Co., Inc. 2.8%. Holdings are subject to change.
†The S&P 500 Stock Index is an unmanaged index of large capitalization common stocks. One cannot invest directly in any index.
‡The Russell Midcap Index measures performance of the mid-capitalization sector of the US equity market. The index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000 Index. The index is a subset of the Russell 1000 Index and serves as the underlying index for the Russell Midcap Growth and Value Index series. The Index is reconstituted annually. One cannot invest directly in any index.
§The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index is a subset of the Russell 3000 Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. One cannot invest directly in any index.
ΔThe Chicago Board Options Exchange (CBOE) Volatility Index (VIX) is a measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. It is a widely-used measure of market risk and shows the market’s expectation of 30-day volatility. One cannot invest directly in any index.
ƒWeighted Average is an average in which each quantity to be averaged is assigned a weight. These weightings determine the relative importance of each quantity on the average.
∼Forward Price-Earnings Ratio or P/E FY1 ratio is a ratio for valuing a company that measures its current share price relative to its per-share earnings over the next 12 months.
∘ Return on Equity: The amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.
∞An Ex-ante Beta is used for Funds with less than 2 years of performance history under its new mandate. The Ex-Ante Beta is calculated using a multi-factor risk model. Beta explains common variations in stock returns due to different stock sensitivities to the market relative to its underlying benchmark for the current period, not historical. A beta for a benchmark is 1.00: a beta greater than 1.00 indicates above average volatility and risk.
The statements and opinions expressed are those of the author as of the date of this report. All information is historical and not indicative of future results and subject to change. This information is not a recommendation to buy or sell any security. Past performance does not guarantee future results.