PXSCX vs. PAXGX

Last updated Jun 24, 2026

PXSCX (Pax Small Cap Fund) and PAXGX (Pax Global Opportunities Fund) are both mutual funds - PXSCX is a Small Cap Blend Equities fund managed by Pax World, while PAXGX is a Global Equities fund managed by Pax World. Over the past 5 years, PXSCX returned 6.58%/yr vs 4.49%/yr for PAXGX. A 0.78 correlation means they provide meaningful diversification when combined. PXSCX charges 1.15%/yr vs 1.21%/yr for PAXGX.

Performance

PXSCX vs. PAXGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pax Small Cap Fund (PXSCX) and Pax Global Opportunities Fund (PAXGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXSCX achieves a 16.68% return, which is significantly higher than PAXGX's 4.21% return.

PXSCX

• 1D: -0.14%
• 1M: 6.03%
• YTD: 16.68%
• 6M: 13.68%
• 1Y: 37.40%
• 3Y*: 17.41%
• 5Y*: 6.58%
• 10Y*: 9.39%

PAXGX

• 1D: -0.57%
• 1M: 1.23%
• YTD: 4.21%
• 6M: 3.52%
• 1Y: 8.58%
• 3Y*: 8.37%
• 5Y*: 4.49%
• 10Y*: —

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

PXSCX vs. PAXGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PXSCX Pax Small Cap Fund	16.68%	11.53%	14.55%	13.51%	-22.99%	30.34%	11.81%	23.29%	-17.71%
PAXGX Pax Global Opportunities Fund	4.21%	9.48%	6.16%	15.16%	-18.86%	18.71%	22.76%	33.52%	-8.20%

Correlation

The correlation between PXSCX and PAXGX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018	0.78

The correlation between PXSCX and PAXGX has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

Return for Risk

PXSCX vs. PAXGX — Risk / Return Rank

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

PXSCX

PXSCX Risk / Return Rank: 72
PXSCX Sharpe Ratio Rank: 72
PXSCX Sortino Ratio Rank: 70
PXSCX Omega Ratio Rank: 58
PXSCX Calmar Ratio Rank: 81
PXSCX Martin Ratio Rank: 80

PAXGX

PAXGX Risk / Return Rank: 9
PAXGX Sharpe Ratio Rank: 9
PAXGX Sortino Ratio Rank: 9
PAXGX Omega Ratio Rank: 8
PAXGX Calmar Ratio Rank: 8
PAXGX Martin Ratio Rank: 10

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.

PXSCX vs. PAXGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax Small Cap Fund (PXSCX) and Pax Global Opportunities Fund (PAXGX). 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.

	PXSCX	PAXGX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	0.67	+1.61
Sortino ratio: Return per unit of downside risk	3.18	1.02	+2.16
Omega ratio: Gain probability vs. loss probability	1.39	1.12	+0.26
Calmar ratio: Return relative to maximum drawdown	3.54	0.76	+2.78
Martin ratio: Return relative to average drawdown	13.93	2.61	+11.32

PXSCX vs. PAXGX - Sharpe Ratio Comparison

The current PXSCX Sharpe Ratio is 2.28, which is higher than the PAXGX Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of PXSCX and PAXGX, 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

PXSCX vs. PAXGX - Drawdown Comparison

The maximum PXSCX drawdown since its inception was -51.55%, which is greater than PAXGX's maximum drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for PXSCX and PAXGX.

Drawdown Indicators

	PXSCX	PAXGX	Difference
Max Drawdown Largest peak-to-trough decline	-51.55%	-30.63%	-20.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-12.28%	+1.22%
Max Drawdown (3Y) Largest decline over 3 years	-25.52%	-19.35%	-6.17%
Max Drawdown (5Y) Largest decline over 5 years	-32.25%	-30.37%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	-41.38%	—	—
Current Drawdown Current decline from peak	-0.14%	-1.20%	+1.06%
Average Drawdown Average peak-to-trough decline	-9.25%	-6.51%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.59%	-0.78%

Volatility

PXSCX vs. PAXGX - Volatility Comparison

The current volatility for Pax Small Cap Fund (PXSCX) is 4.90%, while Pax Global Opportunities Fund (PAXGX) has a volatility of 5.19%. This indicates that PXSCX experiences smaller price fluctuations and is considered to be less risky than PAXGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXSCX	PAXGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	5.19%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	11.56%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	14.01%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	16.86%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.91%	18.43%	+2.48%

PXSCX vs. PAXGX - Expense Ratio Comparison

PXSCX has a 1.15% expense ratio, which is lower than PAXGX's 1.21% expense ratio.

Dividends

PXSCX vs. PAXGX - Dividend Comparison

PXSCX's dividend yield for the trailing twelve months is around 5.55%, less than PAXGX's 6.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAXGX Pax Global Opportunities Fund	6.46%	6.87%	2.82%	0.21%	1.30%	1.79%	0.80%	1.77%	0.00%	0.00%	0.00%	0.00%
PXSCX Pax Small Cap Fund	5.55%	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 PXSCX and PAXGX in my portfolio?

PXSCX and PAXGX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXSCX or PAXGX?

PAXGX has higher volatility (5.19%) compared to PXSCX (4.90%). In terms of maximum drawdown, PXSCX dropped -51.55% vs PAXGX's -30.63%.

Which has better risk-adjusted returns?

PXSCX currently has the higher Sharpe Ratio (2.28 vs 0.67), 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.