PAXLX vs. PAXWX

Last updated Jun 3, 2026

PAXLX (PAX LARGE CAP FUND) and PAXWX (Pax Sustainable Allocation Fund) are both mutual funds - PAXLX is a Large Cap Blend Equities fund managed by Pax World, while PAXWX is a Diversified Portfolio fund managed by Pax World. Over the past 5 years, PAXLX returned 7.38%/yr vs 5.64%/yr for PAXWX. With a 0.96 correlation, they move nearly in lockstep. PAXLX charges 0.97%/yr vs 0.30%/yr for PAXWX.

Performance

PAXLX vs. PAXWX - Performance Comparison

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

Returns By Period

In the year-to-date period, PAXLX achieves a 4.72% return, which is significantly lower than PAXWX's 5.17% return.

PAXLX

• 1D: 0.70%
• 1M: 3.41%
• YTD: 4.72%
• 6M: 4.39%
• 1Y: 17.83%
• 3Y*: 14.26%
• 5Y*: 7.38%
• 10Y*: —

PAXWX

• 1D: 0.26%
• 1M: 2.66%
• YTD: 5.17%
• 6M: 5.33%
• 1Y: 14.74%
• 3Y*: 12.12%
• 5Y*: 5.64%
• 10Y*: 8.43%

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

PAXLX vs. PAXWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAXLX PAX LARGE CAP FUND	4.72%	12.17%	13.96%	19.96%	-20.01%	30.64%	23.75%	34.88%	-5.38%	20.69%
PAXWX Pax Sustainable Allocation Fund	5.17%	10.87%	12.61%	13.19%	-16.50%	15.31%	16.23%	20.84%	-4.07%	13.16%

Correlation

The correlation between PAXLX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.96

The correlation between PAXLX and PAXWX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

PAXLX vs. PAXWX — Risk / Return Rank

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

PAXLX

PAXLX Risk / Return Rank: 22
PAXLX Sharpe Ratio Rank: 28
PAXLX Sortino Ratio Rank: 25
PAXLX Omega Ratio Rank: 27
PAXLX Calmar Ratio Rank: 15
PAXLX Martin Ratio Rank: 17

PAXWX

PAXWX Risk / Return Rank: 41
PAXWX Sharpe Ratio Rank: 41
PAXWX Sortino Ratio Rank: 42
PAXWX Omega Ratio Rank: 40
PAXWX Calmar Ratio Rank: 36
PAXWX Martin Ratio Rank: 47

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. PAXWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PAX LARGE CAP FUND (PAXLX) 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.

	PAXLX	PAXWX	Difference
Sharpe ratio Return per unit of total volatility	1.53	1.89	-0.37
Sortino ratio Return per unit of downside risk	2.13	2.71	-0.59
Omega ratio Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio Return relative to maximum drawdown	1.37	2.31	-0.94
Martin ratio Return relative to average drawdown	4.97	9.87	-4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAXLX vs. PAXWX - Sharpe Ratio Comparison

The current PAXLX Sharpe Ratio is 1.53, which is comparable to the PAXWX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of PAXLX 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

	PAXLX	PAXWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.89	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.53	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.59	+0.07

Drawdowns

PAXLX vs. PAXWX - Drawdown Comparison

The maximum PAXLX drawdown since its inception was -32.73%, smaller than the maximum PAXWX drawdown of -40.11%. Use the drawdown chart below to compare losses from any high point for PAXLX and PAXWX.

Drawdown Indicators

	PAXLX	PAXWX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-40.11%	+7.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-6.41%	-6.71%
Max Drawdown (3Y) Largest decline over 3 years	-28.48%	-11.22%	-17.26%
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	-21.64%	-6.84%
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	-6.20%	-5.65%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	1.50%	+2.12%

Volatility

PAXLX vs. PAXWX - Volatility Comparison

PAX LARGE CAP FUND (PAXLX) has a higher volatility of 3.11% compared to Pax Sustainable Allocation Fund (PAXWX) at 2.41%. This indicates that PAXLX'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

	PAXLX	PAXWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.41%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	6.14%	+2.84%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	7.83%	+3.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	10.76%	+8.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	10.74%	+8.83%

PAXLX vs. PAXWX - Expense Ratio Comparison

PAXLX has a 0.97% expense ratio, which is higher than PAXWX's 0.30% expense ratio.

Dividends

PAXLX vs. PAXWX - Dividend Comparison

PAXLX's dividend yield for the trailing twelve months is around 28.06%, more than PAXWX's 9.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAXLX PAX LARGE CAP FUND	28.06%	29.38%	18.38%	4.28%	2.92%	5.80%	6.67%	3.49%	25.45%	13.18%	0.07%	0.00%
PAXWX Pax Sustainable Allocation Fund	9.17%	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 PAXLX and PAXWX in my portfolio?

With a correlation of 0.93, PAXLX 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, PAXLX or PAXWX?

PAXLX has higher volatility (3.11%) compared to PAXWX (2.41%). In terms of maximum drawdown, PAXLX dropped -32.73% vs PAXWX's -40.11%.

Which has better risk-adjusted returns?

PAXWX currently has the higher Sharpe Ratio (1.89 vs 1.53), 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.