PAXLX vs. AFNIX

Last updated Jun 24, 2026

PAXLX (PAX LARGE CAP FUND) and AFNIX (AAM/Bahl & Gaynor Income Growth Fund Class I) are both Large Cap Blend Equities funds. Their correlation of 0.86 suggests significant overlap in exposure. PAXLX charges 0.97%/yr vs 0.83%/yr for AFNIX.

Performance

PAXLX vs. AFNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PAX LARGE CAP FUND (PAXLX) and AAM/Bahl & Gaynor Income Growth Fund Class I (AFNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAXLX

• 1D: -1.48%
• 1M: -2.53%
• YTD: -0.32%
• 6M: -1.30%
• 1Y: 9.83%
• 3Y*: 12.10%
• 5Y*: 6.28%
• 10Y*: —

AFNIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAXLX vs. AFNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAXLX PAX LARGE CAP FUND	-0.32%	12.17%	13.96%	19.96%	-20.01%	30.64%	23.75%	34.88%	-5.38%	20.69%
AFNIX AAM/Bahl & Gaynor Income Growth Fund Class I	1.74%	11.36%	16.23%	6.59%	-8.77%	25.23%	6.60%	25.71%	-1.98%	19.51%

Correlation

The correlation between PAXLX and AFNIX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 16, 2016	0.86

Over the past year, the correlation between PAXLX and AFNIX has dropped to 0.51 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

PAXLX vs. AFNIX — Risk / Return Rank

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

PAXLX

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

AFNIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PAXLX vs. AFNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PAX LARGE CAP FUND (PAXLX) and AAM/Bahl & Gaynor Income Growth Fund Class I (AFNIX). 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.

	PAXLX	AFNIX	Difference
Sharpe ratio: Return per unit of total volatility	0.84	—	—
Sortino ratio: Return per unit of downside risk	1.21	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.80	—	—
Martin ratio: Return relative to average drawdown	2.82	—	—

Drawdowns

Drawdown Indicators

	PAXLX	AFNIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	—	—
Current Drawdown Current decline from peak	-4.81%	—	—
Average Drawdown Average peak-to-trough decline	-6.18%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	—	—

Volatility

Volatility by Period

	PAXLX	AFNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.46%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	—	—

PAXLX vs. AFNIX - Expense Ratio Comparison

PAXLX has a 0.97% expense ratio, which is higher than AFNIX's 0.83% expense ratio.

Dividends

PAXLX vs. AFNIX - Dividend Comparison

PAXLX's dividend yield for the trailing twelve months is around 29.65%, less than AFNIX's 31.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFNIX AAM/Bahl & Gaynor Income Growth Fund Class I	31.18%	14.13%	6.88%	3.43%	4.61%	1.78%	1.75%	2.13%	2.04%	1.72%	1.79%	2.66%
PAXLX PAX LARGE CAP FUND	29.65%	29.38%	18.38%	4.28%	2.92%	5.80%	6.67%	3.49%	25.45%	13.18%	0.07%	0.00%

Frequently Asked Questions

Can I hold both PAXLX and AFNIX in my portfolio?

PAXLX and AFNIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.