PXNIX vs. PAXWX

Last updated Aug 1, 2026

PXNIX (Pax International Sustainable Economy Fund Institutional Class) and PAXWX (Pax Sustainable Allocation Fund) are both mutual funds - PXNIX is a Foreign Large Cap Equities fund managed by Pax World, while PAXWX is a Diversified Portfolio fund managed by Pax World. Over the past 10 years, PXNIX returned 9.34%/yr vs 8.13%/yr for PAXWX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. PXNIX charges 0.47%/yr vs 0.30%/yr for PAXWX.

Performance

PXNIX vs. PAXWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pax International Sustainable Economy Fund Institutional Class (PXNIX) 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, PXNIX achieves a 14.02% return, which is significantly higher than PAXWX's 4.77% return. Over the past 10 years, PXNIX has outperformed PAXWX with an annualized return of 9.34%, while PAXWX has yielded a comparatively lower 8.13% annualized return.

PXNIX

• 1D: 2.78%
• 1M: 2.93%
• 6M: 9.28%
• YTD: 14.02%
• 1Y: 26.22%
• 3Y*: 17.04%
• 5Y*: 9.26%
• 10Y*: 9.34%
• ALL TIME*: 9.21%

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%

*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
PXNIX Pax International Sustainable Economy Fund Institutional Class	$0.00	$0.00	$0.00

PXNIX vs. PAXWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXNIX Pax International Sustainable Economy Fund Institutional Class	14.02%	28.91%	5.03%	19.28%	-17.81%	11.23%	10.79%	23.03%	-12.92%	23.35%
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%

Correlation

The correlation between PXNIX and PAXWX is 0.84, 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.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.78

The correlation between PXNIX and PAXWX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

PXNIX vs. PAXWX — Risk / Return Rank

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

PXNIX

PXNIX Risk / Return Rank: 62
PXNIX Sharpe Ratio Rank: 62
PXNIX Sortino Ratio Rank: 61
PXNIX Omega Ratio Rank: 60
PXNIX Calmar Ratio Rank: 63
PXNIX Martin Ratio Rank: 66

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

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.

PXNIX vs. PAXWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax International Sustainable Economy Fund Institutional Class (PXNIX) 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.

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.

	PXNIX	PAXWX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.07	+0.44
Sortino ratio: Return per unit of downside risk	2.15	1.54	+0.61
Omega ratio: Gain probability vs. loss probability	1.27	1.19	+0.08
Calmar ratio: Return relative to maximum drawdown	2.11	1.39	+0.72
Martin ratio: Return relative to average drawdown	8.24	5.73	+2.51

PXNIX vs. PAXWX - Sharpe Ratio Comparison

The current PXNIX Sharpe Ratio is 1.50, which is higher than the PAXWX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of PXNIX 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.

Drawdowns

PXNIX vs. PAXWX - Drawdown Comparison

The maximum PXNIX drawdown since its inception was -32.54%, smaller than the maximum PAXWX drawdown of -40.11%. Use the drawdown chart below to compare losses from any high point for PXNIX and PAXWX.

Drawdown Indicators

	PXNIX	PAXWX	Difference
Max Drawdown Largest peak-to-trough decline	-32.54%	-40.11%	+7.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-6.41%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.47%	-11.22%	-2.25%
Max Drawdown (5Y) Largest decline over 5 years	-32.54%	-21.64%	-10.90%
Max Drawdown (10Y) Largest decline over 10 years	-32.54%	-21.64%	-10.90%
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-6.64%	-5.64%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	1.55%	+1.41%

Volatility

PXNIX vs. PAXWX - Volatility Comparison

Pax International Sustainable Economy Fund Institutional Class (PXNIX) has a higher volatility of 4.57% compared to Pax Sustainable Allocation Fund (PAXWX) at 2.22%. This indicates that PXNIX'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

	PXNIX	PAXWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	2.22%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	13.71%	6.78%	+6.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.25%	8.33%	+7.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	10.84%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.28%	10.73%	+5.55%

PXNIX vs. PAXWX - Expense Ratio Comparison

PXNIX has a 0.47% expense ratio, which is higher than PAXWX's 0.30% expense ratio.

Dividends

PXNIX vs. PAXWX - Dividend Comparison

PXNIX's dividend yield for the trailing twelve months is around 6.62%, less than PAXWX's 9.36% 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%
PXNIX Pax International Sustainable Economy Fund Institutional Class	6.62%	7.17%	3.54%	2.38%	2.64%	4.69%	1.82%	2.58%	2.84%	2.54%	2.74%	2.04%

Frequently Asked Questions

Can I hold both PXNIX and PAXWX in my portfolio?

PXNIX and PAXWX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXNIX or PAXWX?

PXNIX has higher volatility (4.57%) compared to PAXWX (2.22%). In terms of maximum drawdown, PXNIX dropped -32.54% vs PAXWX's -40.11%.

Which has better risk-adjusted returns?

PXNIX currently has the higher Sharpe Ratio (1.50 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.