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PAXWX Pax Balanced Individual Investor

  • Fund
  • PAXWX
  • Price as of: May 22, 2019
  • $23.10 - $0.03 - 0.13%
  • Category
  • Diversified Portfolio

PAXWX - Profile

Vitals

  • YTD Return 9.3%
  • 3 Yr Annualized Return 1.6%
  • 5 Yr Annualized Return -1.6%
  • Net Assets $1.82 B
  • Holdings in Top 10 97.7%

52 WEEK LOW AND HIGH

$23.10
$20.64
$23.48

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.30%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--50% to 70% Equity

Distributions

  • YTD Total Return 9.3%
  • 3 Yr Annualized Total Return 7.4%
  • 5 Yr Annualized Total Return 5.6%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 1.44%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name Pax Balanced Fund
  • Fund Family Name Pax World
  • Inception Date Aug 10, 1971
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Anthony Trzcinka

PAXWX - Performance

Return Ranking - Trailing

Period PAXWX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -3.6% 18.6% 31.50%
1 Yr 1.3% -27.6% 10.7% 5.64%
3 Yr 1.6%* -9.2% 14.1% 49.46%
5 Yr -1.6%* -24.5% 8.6% 63.97%
10 Yr 2.8%* -14.3% 9.7% 69.89%

* Annualized


Return Ranking - Calendar

Period PAXWX Return Category Return Low Category Return High Rank in Category (%)
2018 -6.7% -34.6% 1.6% 16.68%
2017 1.4% -12.4% 33.2% 90.87%
2016 2.7% -65.8% 23.3% 57.18%
2015 -8.2% -64.9% 4.8% 70.64%
2014 -3.1% -59.3% 68.3% 79.97%

Total Return Ranking - Trailing

Period PAXWX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -3.6% 18.6% 32.01%
1 Yr 4.1% -25.5% 11.4% 8.04%
3 Yr 7.4%* -9.2% 14.1% 17.75%
5 Yr 5.6%* -21.8% 47.6% 9.07%
10 Yr 8.5%* -12.6% 13.3% 29.21%

* Annualized


Total Return Ranking - Calendar

Period PAXWX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.1% -32.7% 1.6% 16.55%
2017 13.2% -8.4% 33.2% 33.69%
2016 5.8% -65.2% 23.3% 51.99%
2015 -0.5% -62.9% 9.2% 15.58%
2014 8.0% -28.5% 76.9% 14.03%

NAV & Total Return History

PAXWX - Holdings

Concentration Analysis

PAXWX Category Low Category High PAXWX % Rank
Net Assets 1.82 B 608 K 144 B 27.58%
Number of Holdings 8 2 13342 92.54%
Net Assets in Top 10 1.65 B -752 M 26.4 B 17.65%
Weighting of Top 10 97.74% 0.0% 3196.0% 13.66%

Top 10 Holdings

  1. Pax Core Bond Fund Institutional 40.29%

  2. Pax Large Cap Fund Institutional 34.83%

  3. Pax MSCI EAFE ESG Leaders Index Instl 7.52%

  4. Pax ESG Beta Dividend Fund Institutional 6.80%

  5. Pax Mid Cap Institutional 6.07%

  6. Pax Global Opportunities Institutional 1.36%

  7. Pax Global Environmental Mrkts Instl 0.88%


Asset Allocation

Weighting Return Low Return High PAXWX % Rank
Stocks
56.41% -18.54% 99.89% 46.30%
Bonds
36.82% -342.57% 261.66% 51.36%
Cash
6.75% -285.07% 453.71% 33.08%
Other
0.02% -253.31% 51.84% 65.91%
Preferred Stocks
0.00% 0.00% 65.70% 80.27%
Convertible Bonds
0.00% -0.09% 39.88% 86.91%

Stock Sector Breakdown

Weighting Return Low Return High PAXWX % Rank
Technology
11.29% -9.43% 28.91% 31.90%
Financial Services
8.99% -0.38% 47.66% 39.94%
Consumer Cyclical
7.60% -10.37% 33.33% 26.46%
Healthcare
7.48% -2.72% 24.64% 34.43%
Industrials
6.68% -0.28% 27.79% 29.43%
Consumer Defense
4.03% -1.62% 18.58% 43.48%
Energy
3.02% -2.23% 32.61% 51.27%
Basic Materials
2.89% -1.52% 21.64% 24.30%
Communication Services
2.08% -0.92% 7.52% 30.32%
Real Estate
1.41% -3.85% 73.69% 62.34%
Utilities
0.79% -0.60% 23.50% 74.30%

Stock Geographic Breakdown

Weighting Return Low Return High PAXWX % Rank
US
47.74% -20.21% 124.70% 29.16%
Non US
8.67% -91.46% 98.02% 58.44%

Bond Sector Breakdown

Weighting Return Low Return High PAXWX % Rank
Government
13.81% -203.24% 254.66% 38.58%
Securitized
11.49% 0.00% 43.20% 35.80%
Corporate
9.72% 0.00% 93.54% 72.68%
Cash & Equivalents
6.75% -278.69% 455.04% 31.25%
Municipal
1.80% 0.00% 99.76% 7.59%
Derivative
0.00% -190.53% 70.06% 49.27%

Bond Geographic Breakdown

Weighting Return Low Return High PAXWX % Rank
US
34.29% -337.34% 210.96% 43.45%
Non US
2.53% -84.44% 144.19% 67.99%

PAXWX - Expenses

Operational Fees

PAXWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.00% 11.64% 90.01%
Management Fee 0.05% 0.00% 2.50% 16.26%
12b-1 Fee 0.25% 0.00% 1.00% 33.63%
Administrative Fee N/A 0.00% 0.83% N/A

Sales Fees

PAXWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.14% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

PAXWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.11% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PAXWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 6067.00% 11.45%

PAXWX - Distributions

Dividend Yield Analysis

PAXWX Category Low Category High PAXWX % Rank
Dividend Yield 0.02% 0.00% 0.31% 39.41%

Dividend Distribution Analysis

PAXWX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Quarterly

Dividend Payout History


Net Income Ratio Analysis

PAXWX Category Low Category High PAXWX % Rank
Net Income Ratio 1.44% -4.09% 6.99% 59.71%

Capital Gain Distribution Analysis

PAXWX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

PAXWX - Managers

Anthony Trzcinka

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2005

13.34

13.3%

Anthony Trzcinka is SVP and Portfolio Manager of the Pax Core Bond Fund at Impax Asset Management LLC and a Senior Vice President at Pax World Funds. Tony is also a member of the portfolio management team of the Pax Balanced Fund. Tony has been responsible for multiple strategies during his tenure at Impax Asset Management LLC, formerly Pax World Management LLC. He joined the firm in 2003 from AEW Capital Management where he spent over three years as an Assistant Vice President working in a Senior Analyst role. He began his financial services career as an analyst in 1999. He holds a Master of Business Administration degree from Northeastern University and a Bachelor of Arts degree from the University of Massachusetts. Tony is a CFA® charterholder and member of the Boston Security Analysts Society. CFA® is a trademark owned by the CFA Institute.


Nathan Moser

Manager

Start Date

Tenure

Tenure Rank

Jan 02, 2015

4.33

4.3%

Nathan Moser is SVP and Portfolio Manager of the Pax Small Cap Fund and the Pax Mid Cap Fund at Impax Asset Management LLC and a Senior Vice President at Pax World Funds. Nathan is also a member of the portfolio management team of the Pax Balanced Fund. Nathan has been responsible for management of the Pax Small Cap Fund since its inception in 2008 and has been a member of the portfolio management team of the Balanced Fund since 2015. He joined the firm in 2008 from Citizens Funds, where he worked for six years, first as an equity analyst and then as portfolio manager. He started his career with John Hancock Funds, where he was an equity analyst. Nathan holds a Bachelor of Science from Babson College, is a CFA® charterholder and member of the CFA Society Boston. CFA® is a trademark owned by the CFA Institute.


Andrew I. Braun

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2017

1.58

1.6%

Mr. Braun joined Impax Asset Management LLC in 2017. Prior to joining IAM, Andrew was Managing Director on the Value Equity Team at Goldman, Sachs & Co. Mr. Braun joined Goldman as a Product Development Associate in the Product Development Group in 1993. Prior to joining Goldman, Mr. Braun was a Financial Analyst in the Corporate Finance Division at Dillon, Read & Co. Inc. Mr. Braun has a Bachelor of Arts in Economics from Harvard College and a Master of Business Administration in Finance and Economics from the Stern School of Business at New York University.


Peter Schwab

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2017

1.58

1.6%

Peter Schwab is SVP and Portfolio Manager of the Pax High Yield Bond Fund at Impax Asset Management LLC and a Senior Vice President at Pax World Funds. Peter is also a member of the portfolio management team of the Pax Balanced Fund. Prior to joining the firm, Peter was a Managing Director on the High Yield Bond and Loan Team at Goldman Sachs Asset Management. Peter joined Goldman Sachs Asset Management as a Senior Sector Analyst in 2000 and was promoted to Director of High Yield Research in 2010. Prior to joining Goldman Sachs Asset Management, Peter was an Investment Associate in the High Yield Group at Putnam Investments and a member of the High Yield Research Group at Donaldson, Lufkin and Jenrette. Peter has a Bachelor of Arts in History and Economics from Union College and a Master of Business Administration in Finance from Columbia Business School. He is a CFA charter holder, a member of the New York Society of Security Analysts and holds the Series 7 and 63 registrations. Peter Schwab is a registered representative of ALPS Distributors, Inc. CFA® is a trademark owned by the CFA Institute.


Tenure Analysis

Category Low

0.0

Category High

38.35

Category Average

6.56

Category Mode

6.95