PAXGX vs. PAXWX

Last updated Jun 4, 2026

PAXGX (Pax Global Opportunities Fund) and PAXWX (Pax Sustainable Allocation Fund) are both mutual funds - PAXGX is a Global Equities fund managed by Pax World, while PAXWX is a Diversified Portfolio fund managed by Pax World. Over the past 5 years, PAXGX returned 4.89%/yr vs 5.73%/yr for PAXWX. Their correlation of 0.92 suggests significant overlap in exposure. PAXGX charges 1.21%/yr vs 0.30%/yr for PAXWX.

Performance

PAXGX vs. PAXWX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with PAXGX having a 5.23% return and PAXWX slightly higher at 5.40%.

PAXGX

• 1D: 0.52%
• 1M: 4.54%
• YTD: 5.23%
• 6M: 6.52%
• 1Y: 9.41%
• 3Y*: 8.80%
• 5Y*: 4.89%
• 10Y*: —

PAXWX

• 1D: 0.22%
• 1M: 3.27%
• YTD: 5.40%
• 6M: 5.37%
• 1Y: 14.64%
• 3Y*: 12.21%
• 5Y*: 5.73%
• 10Y*: 8.45%

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

PAXGX vs. PAXWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PAXGX Pax Global Opportunities Fund	5.23%	9.48%	6.16%	15.16%	-18.86%	18.71%	22.76%	33.52%	-8.20%
PAXWX Pax Sustainable Allocation Fund	5.40%	10.87%	12.61%	13.19%	-16.50%	15.31%	16.23%	20.84%	-4.10%

Correlation

The correlation between PAXGX and PAXWX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018	0.92

The correlation between PAXGX and PAXWX has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

PAXGX vs. PAXWX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAXGX

PAXGX Risk / Return Rank: 9
PAXGX Sharpe Ratio Rank: 9
PAXGX Sortino Ratio Rank: 9
PAXGX Omega Ratio Rank: 8
PAXGX Calmar Ratio Rank: 8
PAXGX Martin Ratio Rank: 9

PAXWX

PAXWX Risk / Return Rank: 43
PAXWX Sharpe Ratio Rank: 43
PAXWX Sortino Ratio Rank: 43
PAXWX Omega Ratio Rank: 41
PAXWX Calmar Ratio Rank: 38
PAXWX Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PAXGX vs. PAXWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax Global Opportunities Fund (PAXGX) and Pax Sustainable Allocation Fund (PAXWX). 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.

	PAXGX	PAXWX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.93	-1.20
Sortino ratio: Return per unit of downside risk	1.11	2.75	-1.64
Omega ratio: Gain probability vs. loss probability	1.13	1.34	-0.21
Calmar ratio: Return relative to maximum drawdown	0.79	2.35	-1.56
Martin ratio: Return relative to average drawdown	2.71	10.00	-7.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAXGX vs. PAXWX - Sharpe Ratio Comparison

The current PAXGX Sharpe Ratio is 0.73, which is lower than the PAXWX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of PAXGX and PAXWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PAXGX	PAXWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	1.93	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.54	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.59	-0.08

Drawdowns

PAXGX vs. PAXWX - Drawdown Comparison

The maximum PAXGX drawdown since its inception was -30.63%, smaller than the maximum PAXWX drawdown of -40.11%. Use the drawdown chart below to compare losses from any high point for PAXGX and PAXWX.

Drawdown Indicators

	PAXGX	PAXWX	Difference
Max Drawdown Largest peak-to-trough decline	-30.63%	-40.11%	+9.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-6.41%	-5.87%
Max Drawdown (3Y) Largest decline over 3 years	-19.35%	-11.22%	-8.13%
Max Drawdown (5Y) Largest decline over 5 years	-30.37%	-21.64%	-8.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.64%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.55%	-5.65%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	1.50%	+2.08%

Volatility

PAXGX vs. PAXWX - Volatility Comparison

Pax Global Opportunities Fund (PAXGX) has a higher volatility of 3.77% compared to Pax Sustainable Allocation Fund (PAXWX) at 2.41%. This indicates that PAXGX's price experiences larger fluctuations and is considered to be riskier than PAXWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAXGX	PAXWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	2.41%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	6.14%	+4.55%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	7.82%	+5.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	10.76%	+6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	10.74%	+7.68%

PAXGX vs. PAXWX - Expense Ratio Comparison

PAXGX has a 1.21% expense ratio, which is higher than PAXWX's 0.30% expense ratio.

Dividends

PAXGX vs. PAXWX - Dividend Comparison

PAXGX's dividend yield for the trailing twelve months is around 6.53%, less than PAXWX's 9.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAXGX Pax Global Opportunities Fund	6.53%	6.87%	2.82%	0.21%	1.30%	1.79%	0.80%	1.77%	0.00%	0.00%	0.00%	0.00%
PAXWX Pax Sustainable Allocation Fund	9.15%	9.64%	8.33%	3.37%	6.24%	4.85%	2.80%	9.31%	2.90%	10.90%	3.02%	8.36%

Frequently Asked Questions

Can I hold both PAXGX and PAXWX in my portfolio?

With a correlation of 0.93, PAXGX and PAXWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PAXGX or PAXWX?

PAXGX has higher volatility (3.77%) compared to PAXWX (2.41%). In terms of maximum drawdown, PAXGX dropped -30.63% vs PAXWX's -40.11%.

Which has better risk-adjusted returns?

PAXWX currently has the higher Sharpe Ratio (1.93 vs 0.73), 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.