EFIV vs. PXWEX

Last updated Aug 3, 2026

EFIV (State Street SPDR S&P 500 ESG ETF) and PXWEX (Impax Global Women’s Leadership Fund Investor Class) are both funds - EFIV is a S&P 500 fund tracking the S&P 500 Scored & Screened Index, while PXWEX is a Global Equities fund managed by Impax. Over the past 5 years, EFIV returned 13.59%/yr vs 7.38%/yr for PXWEX. Their correlation of 0.92 means they have usually moved in the same direction. EFIV charges 0.10%/yr vs 0.77%/yr for PXWEX.

Performance

EFIV vs. PXWEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ESG ETF (EFIV) and Impax Global Women’s Leadership Fund Investor Class (PXWEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFIV achieves a 10.48% return, which is significantly lower than PXWEX's 11.73% return.

EFIV

• 1D: 1.10%
• 1M: 0.50%
• 6M: 8.51%
• YTD: 10.48%
• 1Y: 24.02%
• 3Y*: 19.30%
• 5Y*: 13.59%
• 10Y*: —
• ALL TIME*: 17.34%

PXWEX

• 1D: 1.72%
• 1M: 2.43%
• 6M: 10.64%
• YTD: 11.73%
• 1Y: 22.79%
• 3Y*: 15.56%
• 5Y*: 7.38%
• 10Y*: 10.47%
• ALL TIME*: 6.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EFIV State Street SPDR S&P 500 ESG ETF	$2.53M	$6.41M	$3.64M
PXWEX Impax Global Women’s Leadership Fund Investor Class	$0.00	$0.00	$0.00

EFIV vs. PXWEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EFIV State Street SPDR S&P 500 ESG ETF	10.48%	18.47%	23.80%	27.92%	-17.76%	31.70%	16.38%
PXWEX Impax Global Women’s Leadership Fund Investor Class	11.73%	17.41%	12.15%	18.14%	-19.99%	17.28%	14.52%

Correlation

The correlation between EFIV and PXWEX is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Jul 28, 2020	0.92

The correlation between EFIV and PXWEX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

EFIV vs. PXWEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EFIV

EFIV Risk / Return Rank: 75
EFIV Sharpe Ratio Rank: 76
EFIV Sortino Ratio Rank: 76
EFIV Omega Ratio Rank: 74
EFIV Calmar Ratio Rank: 68
EFIV Martin Ratio Rank: 80

PXWEX

PXWEX Risk / Return Rank: 66
PXWEX Sharpe Ratio Rank: 67
PXWEX Sortino Ratio Rank: 65
PXWEX Omega Ratio Rank: 62
PXWEX Calmar Ratio Rank: 62
PXWEX Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EFIV vs. PXWEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ESG ETF (EFIV) and Impax Global Women’s Leadership Fund Investor Class (PXWEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EFIV	PXWEX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.60	+0.12
Sortino ratio: Return per unit of downside risk	2.44	2.27	+0.17
Omega ratio: Gain probability vs. loss probability	1.31	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.36	2.11	+0.25
Martin ratio: Return relative to average drawdown	10.30	9.12	+1.18

EFIV vs. PXWEX - Sharpe Ratio Comparison

The current EFIV Sharpe Ratio is 1.72, which is comparable to the PXWEX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of EFIV and PXWEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFIV vs. PXWEX - Drawdown Comparison

The maximum EFIV drawdown since its inception was -24.52%, smaller than the maximum PXWEX drawdown of -53.70%. Use the drawdown chart below to compare losses from any high point for EFIV and PXWEX.

Drawdown Indicators

	EFIV	PXWEX	Difference
Max Drawdown Largest peak-to-trough decline	-24.52%	-53.70%	+29.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-9.60%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-18.31%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	-29.67%	+5.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.47%	—
Current Drawdown Current decline from peak	-0.84%	0.00%	-0.84%
Average Drawdown Average peak-to-trough decline	-4.72%	-9.76%	+5.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.22%	-0.06%

Volatility

EFIV vs. PXWEX - Volatility Comparison

State Street SPDR S&P 500 ESG ETF (EFIV) has a higher volatility of 3.83% compared to Impax Global Women’s Leadership Fund Investor Class (PXWEX) at 3.32%. This indicates that EFIV's price experiences larger fluctuations and is considered to be riskier than PXWEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFIV	PXWEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.32%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	10.29%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	12.63%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	16.13%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	16.87%	-0.07%

EFIV vs. PXWEX - Expense Ratio Comparison

EFIV has a 0.10% expense ratio, which is lower than PXWEX's 0.77% expense ratio.

Dividends

EFIV vs. PXWEX - Dividend Comparison

EFIV's dividend yield for the trailing twelve months is around 0.96%, less than PXWEX's 8.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFIV State Street SPDR S&P 500 ESG ETF	0.96%	1.03%	1.20%	1.37%	1.64%	1.19%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%
PXWEX Impax Global Women’s Leadership Fund Investor Class	8.77%	9.83%	9.47%	1.60%	3.12%	1.21%	1.04%	3.03%	4.90%	2.49%	1.80%	2.41%

Frequently Asked Questions

Can I hold both EFIV and PXWEX in my portfolio?

EFIV and PXWEX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFIV or PXWEX?

EFIV has higher volatility (3.83%) compared to PXWEX (3.32%). In terms of maximum drawdown, EFIV dropped -24.52% vs PXWEX's -53.70%.

Which has better risk-adjusted returns?

EFIV currently has the higher Sharpe Ratio (1.72 vs 1.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.