PAXBX vs. PAXGX

Last updated Aug 1, 2026

PAXBX (PAX CORE BOND FUND) and PAXGX (Pax Global Opportunities Fund) are both mutual funds - PAXBX is a Intermediate Core Bond fund managed by Pax World, while PAXGX is a Global Equities fund managed by Pax World. Over the past 5 years, PAXBX returned -0.98%/yr vs 3.96%/yr for PAXGX. Their 0.11 correlation means their historical movements had little consistent relationship. PAXBX charges 0.71%/yr vs 1.21%/yr for PAXGX.

Performance

PAXBX vs. PAXGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PAX CORE BOND FUND (PAXBX) and Pax Global Opportunities Fund (PAXGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAXBX achieves a -0.82% return, which is significantly lower than PAXGX's 5.84% return.

PAXBX

• 1D: 0.00%
• 1M: -1.25%
• 6M: -1.01%
• YTD: -0.82%
• 1Y: 1.51%
• 3Y*: 3.11%
• 5Y*: -0.98%
• 10Y*: —
• ALL TIME*: 1.26%

PAXGX

• 1D: 2.15%
• 1M: 0.29%
• 6M: 5.77%
• YTD: 5.84%
• 1Y: 6.53%
• 3Y*: 7.56%
• 5Y*: 3.96%
• 10Y*: —
• ALL TIME*: 9.30%

*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)
PAXBX PAX CORE BOND FUND	$0.00	$0.00	$0.00
PAXGX Pax Global Opportunities Fund	$0.00	$0.00	$0.00

PAXBX vs. PAXGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PAXBX PAX CORE BOND FUND	-0.82%	6.45%	1.04%	4.60%	-13.60%	-1.85%	6.92%	8.01%	1.64%
PAXGX Pax Global Opportunities Fund	5.84%	9.48%	6.16%	15.16%	-18.86%	18.71%	22.76%	33.52%	-8.20%

Correlation

The correlation between PAXBX and PAXGX is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.24
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018	0.11

Over the past year, PAXBX and PAXGX have become more correlated (0.38) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

PAXBX vs. PAXGX — Risk / Return Rank

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

PAXBX

PAXBX Risk / Return Rank: 17
PAXBX Sharpe Ratio Rank: 18
PAXBX Sortino Ratio Rank: 17
PAXBX Omega Ratio Rank: 16
PAXBX Calmar Ratio Rank: 18
PAXBX Martin Ratio Rank: 15

PAXGX

PAXGX Risk / Return Rank: 10
PAXGX Sharpe Ratio Rank: 10
PAXGX Sortino Ratio Rank: 10
PAXGX Omega Ratio Rank: 9
PAXGX Calmar Ratio Rank: 10
PAXGX Martin Ratio Rank: 11

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.

PAXBX vs. PAXGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PAX CORE BOND FUND (PAXBX) and Pax Global Opportunities Fund (PAXGX). 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.

	PAXBX	PAXGX	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.36	+0.35
Sortino ratio: Return per unit of downside risk	1.05	0.60	+0.44
Omega ratio: Gain probability vs. loss probability	1.12	1.07	+0.05
Calmar ratio: Return relative to maximum drawdown	0.90	0.42	+0.48
Martin ratio: Return relative to average drawdown	2.25	1.43	+0.82

PAXBX vs. PAXGX - Sharpe Ratio Comparison

The current PAXBX Sharpe Ratio is 0.71, which is higher than the PAXGX Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of PAXBX and PAXGX, 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

PAXBX vs. PAXGX - Drawdown Comparison

The maximum PAXBX drawdown since its inception was -18.88%, smaller than the maximum PAXGX drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for PAXBX and PAXGX.

Drawdown Indicators

	PAXBX	PAXGX	Difference
Max Drawdown Largest peak-to-trough decline	-18.88%	-30.63%	+11.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-12.28%	+9.34%
Max Drawdown (3Y) Largest decline over 3 years	-5.18%	-19.35%	+14.17%
Max Drawdown (5Y) Largest decline over 5 years	-18.30%	-30.37%	+12.07%
Current Drawdown Current decline from peak	-5.74%	-0.17%	-5.57%
Average Drawdown Average peak-to-trough decline	-5.71%	-6.45%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	3.62%	-2.45%

Volatility

PAXBX vs. PAXGX - Volatility Comparison

The current volatility for PAX CORE BOND FUND (PAXBX) is 1.02%, while Pax Global Opportunities Fund (PAXGX) has a volatility of 3.86%. This indicates that PAXBX experiences smaller price fluctuations and is considered to be less risky than PAXGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAXBX	PAXGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	3.86%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	11.94%	-9.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	14.28%	-10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.75%	16.91%	-11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.80%	18.37%	-13.57%

PAXBX vs. PAXGX - Expense Ratio Comparison

PAXBX has a 0.71% expense ratio, which is lower than PAXGX's 1.21% expense ratio.

Dividends

PAXBX vs. PAXGX - Dividend Comparison

PAXBX's dividend yield for the trailing twelve months is around 3.64%, less than PAXGX's 6.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PAXBX PAX CORE BOND FUND	3.64%	3.72%	3.22%	2.18%	1.69%	1.51%	4.14%	2.59%	2.37%	2.24%	0.07%
PAXGX Pax Global Opportunities Fund	6.54%	6.87%	2.82%	0.21%	1.30%	1.79%	0.80%	1.77%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAXBX and PAXGX in my portfolio?

PAXBX and PAXGX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAXBX or PAXGX?

PAXGX has higher volatility (3.86%) compared to PAXBX (1.02%). In terms of maximum drawdown, PAXBX dropped -18.88% vs PAXGX's -30.63%.

Which has better risk-adjusted returns?

PAXBX currently has the higher Sharpe Ratio (0.71 vs 0.36), 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.