PAXLX vs. PXSCX

Last updated Jun 3, 2026

PAXLX (PAX LARGE CAP FUND) and PXSCX (Pax Small Cap Fund) are both mutual funds - PAXLX is a Large Cap Blend Equities fund managed by Pax World, while PXSCX is a Small Cap Blend Equities fund managed by Pax World. Over the past 5 years, PAXLX returned 7.38%/yr vs 5.97%/yr for PXSCX. Their correlation of 0.82 suggests significant overlap in exposure. PAXLX charges 0.97%/yr vs 1.15%/yr for PXSCX.

Performance

PAXLX vs. PXSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PAX LARGE CAP FUND (PAXLX) and Pax Small Cap Fund (PXSCX). 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 PXSCX's 11.68% return.

PAXLX

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

PXSCX

• 1D: 0.15%
• 1M: 2.93%
• YTD: 11.68%
• 6M: 12.40%
• 1Y: 33.80%
• 3Y*: 15.71%
• 5Y*: 5.97%
• 10Y*: 8.57%

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

PAXLX vs. PXSCX - 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%
PXSCX Pax Small Cap Fund	11.68%	11.53%	14.55%	13.51%	-22.99%	30.34%	11.81%	23.29%	-15.96%	8.78%

Correlation

The correlation between PAXLX and PXSCX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.82

The correlation between PAXLX and PXSCX shifts across timeframes, from 0.70 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PAXLX vs. PXSCX — 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

PXSCX

PXSCX Risk / Return Rank: 50
PXSCX Sharpe Ratio Rank: 45
PXSCX Sortino Ratio Rank: 45
PXSCX Omega Ratio Rank: 40
PXSCX Calmar Ratio Rank: 60
PXSCX Martin Ratio Rank: 58

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. PXSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PAX LARGE CAP FUND (PAXLX) and Pax Small Cap Fund (PXSCX). 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	PXSCX	Difference
Sharpe ratio Return per unit of total volatility	1.53	1.97	-0.45
Sortino ratio Return per unit of downside risk	2.13	2.81	-0.68
Omega ratio Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio Return relative to maximum drawdown	1.37	2.97	-1.60
Martin ratio Return relative to average drawdown	4.97	11.65	-6.68
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. PXSCX - Sharpe Ratio Comparison

The current PAXLX Sharpe Ratio is 1.53, which is comparable to the PXSCX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PAXLX and PXSCX, 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	PXSCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.97	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.29	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.41	+0.25

Drawdowns

PAXLX vs. PXSCX - Drawdown Comparison

The maximum PAXLX drawdown since its inception was -32.73%, smaller than the maximum PXSCX drawdown of -51.55%. Use the drawdown chart below to compare losses from any high point for PAXLX and PXSCX.

Drawdown Indicators

	PAXLX	PXSCX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-51.55%	+18.82%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-11.06%	-2.06%
Max Drawdown (3Y) Largest decline over 3 years	-28.48%	-25.52%	-2.96%
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	-32.25%	+3.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.38%	—
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-6.20%	-9.27%	+3.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	2.82%	+0.80%

Volatility

PAXLX vs. PXSCX - Volatility Comparison

The current volatility for PAX LARGE CAP FUND (PAXLX) is 3.11%, while Pax Small Cap Fund (PXSCX) has a volatility of 4.45%. This indicates that PAXLX experiences smaller price fluctuations and is considered to be less risky than PXSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAXLX	PXSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	4.45%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	12.50%	-3.52%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	17.02%	-5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	20.71%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	20.88%	-1.31%

PAXLX vs. PXSCX - Expense Ratio Comparison

PAXLX has a 0.97% expense ratio, which is lower than PXSCX's 1.15% expense ratio.

Dividends

PAXLX vs. PXSCX - Dividend Comparison

PAXLX's dividend yield for the trailing twelve months is around 28.06%, more than PXSCX's 5.79% 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%
PXSCX Pax Small Cap Fund	5.79%	6.47%	5.19%	0.00%	2.47%	9.60%	3.87%	0.89%	14.72%	1.56%	2.24%	0.64%

Frequently Asked Questions

Can I hold both PAXLX and PXSCX in my portfolio?

PAXLX and PXSCX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAXLX or PXSCX?

PXSCX has higher volatility (4.45%) compared to PAXLX (3.11%). In terms of maximum drawdown, PAXLX dropped -32.73% vs PXSCX's -51.55%.

Which has better risk-adjusted returns?

PXSCX currently has the higher Sharpe Ratio (1.97 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.