PAXWX vs. PXWIX

Last updated Aug 1, 2026

PAXWX (Pax Sustainable Allocation Fund) and PXWIX (Pax Ellevate Global Women’s Leadership Fund Institutional Class) are both mutual funds - PAXWX is a Diversified Portfolio fund managed by Pax World, while PXWIX is a ESG fund managed by Pax World. Over the past 10 years, PAXWX returned 8.13%/yr vs 10.74%/yr for PXWIX. Their correlation of 0.95 means they have usually moved in the same direction. PAXWX charges 0.30%/yr vs 0.51%/yr for PXWIX.

Performance

PAXWX vs. PXWIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pax Sustainable Allocation Fund (PAXWX) and Pax Ellevate Global Women’s Leadership Fund Institutional Class (PXWIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAXWX achieves a 4.77% return, which is significantly lower than PXWIX's 11.88% return. Over the past 10 years, PAXWX has underperformed PXWIX with an annualized return of 8.13%, while PXWIX has yielded a comparatively higher 10.74% annualized return.

PAXWX

• 1D: 1.09%
• 1M: -0.19%
• 6M: 4.13%
• YTD: 4.77%
• 1Y: 9.58%
• 3Y*: 10.62%
• 5Y*: 5.01%
• 10Y*: 8.13%
• ALL TIME*: 6.97%

PXWIX

• 1D: 1.71%
• 1M: 2.43%
• 6M: 10.77%
• YTD: 11.88%
• 1Y: 23.10%
• 3Y*: 15.84%
• 5Y*: 7.64%
• 10Y*: 10.74%
• ALL TIME*: 6.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PAXWX Pax Sustainable Allocation Fund	$0.00	$0.00	$0.00
PXWIX Pax Ellevate Global Women’s Leadership Fund Institutional Class	$0.00	$0.00	$0.00

PAXWX vs. PXWIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAXWX Pax Sustainable Allocation Fund	4.77%	10.87%	12.61%	13.19%	-16.50%	15.31%	16.23%	20.84%	-4.07%	13.16%
PXWIX Pax Ellevate Global Women’s Leadership Fund Institutional Class	11.88%	17.72%	12.41%	18.41%	-19.77%	17.58%	13.94%	26.80%	-7.55%	25.15%

Correlation

The correlation between PAXWX and PXWIX is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.95

The correlation between PAXWX and PXWIX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

PAXWX vs. PXWIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PAXWX

PAXWX Risk / Return Rank: 34
PAXWX Sharpe Ratio Rank: 34
PAXWX Sortino Ratio Rank: 33
PAXWX Omega Ratio Rank: 31
PAXWX Calmar Ratio Rank: 32
PAXWX Martin Ratio Rank: 40

PXWIX

PXWIX Risk / Return Rank: 68
PXWIX Sharpe Ratio Rank: 69
PXWIX Sortino Ratio Rank: 67
PXWIX Omega Ratio Rank: 65
PXWIX Calmar Ratio Rank: 64
PXWIX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PAXWX vs. PXWIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax Sustainable Allocation Fund (PAXWX) and Pax Ellevate Global Women’s Leadership Fund Institutional Class (PXWIX). 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.

	PAXWX	PXWIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.63	-0.56
Sortino ratio: Return per unit of downside risk	1.54	2.30	-0.76
Omega ratio: Gain probability vs. loss probability	1.19	1.29	-0.10
Calmar ratio: Return relative to maximum drawdown	1.39	2.15	-0.76
Martin ratio: Return relative to average drawdown	5.73	9.32	-3.58

PAXWX vs. PXWIX - Sharpe Ratio Comparison

The current PAXWX Sharpe Ratio is 1.07, which is lower than the PXWIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PAXWX and PXWIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAXWX vs. PXWIX - Drawdown Comparison

The maximum PAXWX drawdown since its inception was -40.11%, smaller than the maximum PXWIX drawdown of -53.56%. Use the drawdown chart below to compare losses from any high point for PAXWX and PXWIX.

Drawdown Indicators

	PAXWX	PXWIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.11%	-53.56%	+13.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-9.55%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-18.31%	+7.09%
Max Drawdown (5Y) Largest decline over 5 years	-21.64%	-29.52%	+7.88%
Max Drawdown (10Y) Largest decline over 10 years	-21.64%	-34.47%	+12.83%
Current Drawdown Current decline from peak	-0.60%	0.00%	-0.60%
Average Drawdown Average peak-to-trough decline	-5.64%	-9.74%	+4.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	2.21%	-0.66%

Volatility

PAXWX vs. PXWIX - Volatility Comparison

The current volatility for Pax Sustainable Allocation Fund (PAXWX) is 2.22%, while Pax Ellevate Global Women’s Leadership Fund Institutional Class (PXWIX) has a volatility of 3.31%. This indicates that PAXWX experiences smaller price fluctuations and is considered to be less risky than PXWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAXWX	PXWIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	3.31%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	6.78%	10.26%	-3.48%
Volatility (1Y) Calculated over the trailing 1-year period	8.33%	12.60%	-4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.84%	16.14%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.73%	16.88%	-6.15%

PAXWX vs. PXWIX - Expense Ratio Comparison

PAXWX has a 0.30% expense ratio, which is lower than PXWIX's 0.51% expense ratio.

Dividends

PAXWX vs. PXWIX - Dividend Comparison

PAXWX's dividend yield for the trailing twelve months is around 9.36%, more than PXWIX's 8.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAXWX Pax Sustainable Allocation Fund	9.36%	9.64%	8.33%	3.37%	6.24%	4.85%	2.80%	9.31%	2.90%	10.90%	3.02%	8.36%
PXWIX Pax Ellevate Global Women’s Leadership Fund Institutional Class	8.91%	9.98%	9.64%	1.69%	3.24%	1.44%	1.25%	3.24%	5.15%	2.71%	2.04%	2.68%

Frequently Asked Questions

Can I hold both PAXWX and PXWIX in my portfolio?

With a correlation of 0.95, PAXWX and PXWIX 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, PAXWX or PXWIX?

PXWIX has higher volatility (3.31%) compared to PAXWX (2.22%). In terms of maximum drawdown, PAXWX dropped -40.11% vs PXWIX's -53.56%.

Which has better risk-adjusted returns?

PXWIX currently has the higher Sharpe Ratio (1.63 vs 1.07), 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.