Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds, which include debt obligations such as mortgage-related securities, securities issued by the United States government or its agencies and instrumentalities, municipal bonds, corporate bonds and high-impact bonds across the spectrum of issuers, each of which is, at the time of purchase, rated at least investment grade or unrated and determined by the adviser to be of comparable quality. It also may have a small allocation of higher-rated high yield bonds.

Nasdaq

PAXBX

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies that the Adviser determines derive significant revenues from owning, operating, developing or distributing sustainable infrastructure-related goods, services or assets. The Adviser defines “sustainable infrastructure” to mean infrastructure that conserves, enables or increases access to vital resources such as clean energy, water, food and agriculture.

PAXDX

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies that its Adviser or Sub-Adviser believe will benefit from the transition to a more sustainable global economy - the shift away from a depletive economy to one that preserves ecological and societal balance for the benefit of future generations.

PAXGX

The investment seeks high current income; as a secondary investment objective, it seeks capital appreciation. Under normal market conditions, the High Yield Bond Fund invests at least 80% of its assets (plus any borrowings for investment purposes) in high-yield, fixed income securities (such as bonds, notes or debentures) that are rated below BBB-by Standard & Poor's Ratings Group or below Baa3 by Moody's Investors Service, similarly rated by another major rating service, or unrated and determined by the High Yield Bond Fund's investment adviser to be of comparable quality.

PAXHX

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities (such as common stocks, securities convertible into common or preferred stocks and warrants) of companies that, when purchased, have capitalizations within the range of Standard & Poor's 500 Index as measured by market capitalization. It may invest up to 45% of its assets in securities of non-U.S. issuers, including American Depositary Receipts ("ADRs"). The fund may invest no more than 25% of its assets in securities of non-U.S. issuers other than ADRs.

PAXLX

The investment seeks income and conservation of principal; as a secondary investment objective, the fund seeks long-term growth of capital. The adviser normally expects to invest approximately 50-75% of its assets in equity securities and 25-50% of its assets in debt securities (including but not limited to debt securities convertible into equity securities). The fund’s multi-asset ESG strategy is designed to achieve lower volatility by combining complementary investment approaches.

PAXWX

The investment seeks long-term growth of capital.  Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies whose businesses and technologies focus on environmental markets, including alternative energy and energy efficiency; water infrastructure technologies and pollution control; environmental support services and waste management technologies; and sustainable food, agriculture, and forestry.

PGINX

The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies that, when purchased, have capitalizations within the range of the Russell 2000 Index as measured by market capitalization. The fund may invest up to 45% of its assets in securities of non-U.S. issuers. It may invest no more than 25% of its assets in securities of non-U.S. issuers other than ADRs.

PXSCX

The Adviser follows a sustainable investing approach, investing in companies that the Adviser believes are well positioned to benefit from the transition to a more sustainable economy, integrating environmental, social and governance (ESG) analysis into portfolio construction and managing the portfolio within certain risk parameters relative to the fund’s benchmark universe of Russell 1000 Index companies. Under normal market conditions, the fund invests at least 80% of its net assets in large-capitalization U.S. equity securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
PAXBX	PAX CORE BOND FUND	Intermediate Core Bond	Dec 16, 2016	0.71%	-0.63%	—	3.49%	44
PAXDX	Pax Global Sustainable Infrastructure Fund	Energy Equities	Dec 15, 2016	0.83%	5.11%	—	2.06%	81
PAXGX	Pax Global Opportunities Fund	Global Equities	Jun 26, 2018	1.21%	-9.44%	—	7.59%	6
PAXHX	Pax High Yield Bond Fund	High Yield Bonds	Oct 8, 1999	0.93%	-1.80%	4.99%	5.55%	89
PAXLX	PAX LARGE CAP FUND	Large Cap Blend Equities	Dec 16, 2016	0.97%	-10.71%	—	32.90%	16
PAXWX	Pax Sustainable Allocation Fund	Diversified Portfolio	Aug 9, 1971	0.30%	-4.79%	7.53%	10.13%	35
PGINX	Impax Global Environmental Markets Fund Institutio...	Global Equities, Sustainable, Alternative Energy Equities	Mar 27, 2008	0.90%	-4.24%	9.31%	24.76%	25
PXSCX	Pax Small Cap Fund	Small Cap Blend Equities	Mar 27, 2008	1.15%	-4.72%	7.11%	6.79%	34
PXWGX	Pax U.S. Sustainable Economy Fund	Large Cap Blend Equities	Jun 11, 1997	0.70%	-7.27%	11.72%	5.81%	40

Pax World Mutual Funds List

Risk vs. Return Scatterplot