PAXHX vs. PAXGX

Last updated Apr 2, 2026

Compare and contrast key facts about Pax High Yield Bond Fund (PAXHX) and Pax Global Opportunities Fund (PAXGX).

PAXHX is managed by Pax World. It was launched on Oct 8, 1999. PAXGX is managed by Pax World. It was launched on Jun 26, 2018.

Performance

PAXHX vs. PAXGX - Performance Comparison

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

PAXHX vs. PAXGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PAXHX Pax High Yield Bond Fund	-1.14%	8.75%	6.08%	12.20%	-13.52%	2.55%	7.83%	14.62%	-2.15%
PAXGX Pax Global Opportunities Fund	-6.73%	9.48%	6.16%	15.16%	-18.86%	18.71%	22.76%	33.52%	-8.20%

Returns By Period

In the year-to-date period, PAXHX achieves a -1.14% return, which is significantly higher than PAXGX's -6.73% return.

PAXHX

• 1D: 0.66%
• 1M: -1.62%
• YTD: -1.14%
• 6M: 0.38%
• 1Y: 6.29%
• 3Y*: 7.11%
• 5Y*: 2.63%
• 10Y*: 5.06%

PAXGX

• 1D: 2.99%
• 1M: -6.79%
• YTD: -6.73%
• 6M: -7.70%
• 1Y: 4.35%
• 3Y*: 4.88%
• 5Y*: 3.25%
• 10Y*: —

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

PAXHX vs. PAXGX - Expense Ratio Comparison

PAXHX has a 0.93% expense ratio, which is lower than PAXGX's 1.21% expense ratio.

PAXGX

Pax Global Opportunities Fund

PAXHX

Pax High Yield Bond Fund

Return for Risk

PAXHX vs. PAXGX — Risk / Return Rank

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

PAXHX

PAXHX Risk / Return Rank: 89
PAXHX Sharpe Ratio Rank: 88
PAXHX Sortino Ratio Rank: 90
PAXHX Omega Ratio Rank: 89
PAXHX Calmar Ratio Rank: 89
PAXHX Martin Ratio Rank: 90

PAXGX

PAXGX Risk / Return Rank: 8
PAXGX Sharpe Ratio Rank: 7
PAXGX Sortino Ratio Rank: 8
PAXGX Omega Ratio Rank: 7
PAXGX Calmar Ratio Rank: 9
PAXGX Martin Ratio Rank: 9

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.

PAXHX vs. PAXGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax High Yield Bond Fund (PAXHX) 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.

	PAXHX	PAXGX	Difference
Sharpe ratio Return per unit of total volatility	1.85	0.25	+1.60
Sortino ratio Return per unit of downside risk	2.71	0.49	+2.22
Omega ratio Gain probability vs. loss probability	1.41	1.07	+0.35
Calmar ratio Return relative to maximum drawdown	2.64	0.35	+2.29
Martin ratio Return relative to average drawdown	10.73	1.21	+9.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAXHX vs. PAXGX - Sharpe Ratio Comparison

The current PAXHX Sharpe Ratio is 1.85, which is higher than the PAXGX Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of PAXHX and PAXGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAXHX	PAXGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	0.25	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.20	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.43	+0.39

Correlation

The correlation between PAXHX and PAXGX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PAXHX vs. PAXGX - Dividend Comparison

PAXHX's dividend yield for the trailing twelve months is around 5.51%, less than PAXGX's 7.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAXHX Pax High Yield Bond Fund	5.51%	5.86%	5.53%	6.33%	4.26%	3.53%	4.67%	5.23%	5.29%	5.18%	5.12%	6.39%
PAXGX Pax Global Opportunities Fund	7.37%	6.87%	2.82%	0.21%	1.30%	1.79%	0.80%	1.77%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PAXHX vs. PAXGX - Drawdown Comparison

The maximum PAXHX drawdown since its inception was -25.81%, smaller than the maximum PAXGX drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for PAXHX and PAXGX.

Drawdown Indicators

	PAXHX	PAXGX	Difference
Max Drawdown Largest peak-to-trough decline	-25.81%	-30.63%	+4.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	-12.28%	+9.63%
Max Drawdown (5Y) Largest decline over 5 years	-17.38%	-30.37%	+12.99%
Max Drawdown (10Y) Largest decline over 10 years	-18.15%	—	—
Current Drawdown Current decline from peak	-1.80%	-9.66%	+7.86%
Average Drawdown Average peak-to-trough decline	-4.72%	-6.64%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	3.54%	-2.89%

Volatility

PAXHX vs. PAXGX - Volatility Comparison

The current volatility for Pax High Yield Bond Fund (PAXHX) is 1.38%, while Pax Global Opportunities Fund (PAXGX) has a volatility of 6.44%. This indicates that PAXHX 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

	PAXHX	PAXGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	6.44%	-5.06%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	10.32%	-8.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	17.44%	-13.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	16.71%	-11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.26%	18.49%	-13.23%