PGINX vs. SPY
Compare and contrast key facts about Impax Global Environmental Markets Fund Institutional Class (PGINX) and State Street SPDR S&P 500 ETF (SPY).
PGINX is managed by Pax World. It was launched on Mar 27, 2008. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
PGINX vs. SPY - Performance Comparison
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PGINX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGINX Impax Global Environmental Markets Fund Institutional Class | -0.76% | 14.14% | 5.15% | 16.85% | -22.39% | 22.25% | 26.00% | 28.18% | -14.20% | 26.80% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, PGINX achieves a -0.76% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, PGINX has underperformed SPY with an annualized return of 9.70%, while SPY has yielded a comparatively higher 14.06% annualized return.
PGINX
- 1D
- 3.63%
- 1M
- -6.55%
- YTD
- -0.76%
- 6M
- -2.65%
- 1Y
- 14.79%
- 3Y*
- 8.49%
- 5Y*
- 4.39%
- 10Y*
- 9.70%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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PGINX vs. SPY - Expense Ratio Comparison
PGINX has a 0.90% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
PGINX vs. SPY — Risk / Return Rank
PGINX
SPY
PGINX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Impax Global Environmental Markets Fund Institutional Class (PGINX) and State Street SPDR S&P 500 ETF (SPY). 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.
| PGINX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 0.96 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.28 | 1.49 | -0.21 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.53 | -0.24 |
Martin ratioReturn relative to average drawdown | 4.52 | 7.27 | -2.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGINX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 0.96 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.70 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.79 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.56 | -0.21 |
Correlation
The correlation between PGINX and SPY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PGINX vs. SPY - Dividend Comparison
PGINX's dividend yield for the trailing twelve months is around 23.89%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGINX Impax Global Environmental Markets Fund Institutional Class | 23.89% | 23.71% | 4.79% | 0.74% | 0.65% | 2.10% | 0.60% | 0.86% | 4.26% | 3.44% | 0.75% | 1.13% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
PGINX vs. SPY - Drawdown Comparison
The maximum PGINX drawdown since its inception was -52.48%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PGINX and SPY.
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Drawdown Indicators
| PGINX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.48% | -55.19% | +2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -11.74% | -12.05% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -33.54% | -24.50% | -9.04% |
Max Drawdown (10Y)Largest decline over 10 years | -33.54% | -33.72% | +0.18% |
Current DrawdownCurrent decline from peak | -8.28% | -5.53% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -9.09% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 2.54% | +0.81% |
Volatility
PGINX vs. SPY - Volatility Comparison
Impax Global Environmental Markets Fund Institutional Class (PGINX) has a higher volatility of 7.24% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that PGINX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGINX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.24% | 5.35% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.41% | 9.50% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.84% | 19.06% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 17.06% | +1.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 17.92% | +0.14% |