PXWEX vs. EFIV

Last updated Apr 1, 2026

Compare and contrast key facts about Pax Ellevate Global Women’s Leadership Fund (PXWEX) and State Street SPDR S&P 500 ESG ETF (EFIV).

PXWEX is managed by Impax Asset Management. It was launched on Sep 30, 1993. EFIV is a passively managed fund by State Street that tracks the performance of the S&P 500 ESG Index. It was launched on Jul 27, 2020.

Performance

PXWEX vs. EFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pax Ellevate Global Women’s Leadership Fund (PXWEX) and State Street SPDR S&P 500 ESG ETF (EFIV). The values are adjusted to include any dividend payments, if applicable.

PXWEX vs. EFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PXWEX Pax Ellevate Global Women’s Leadership Fund	-7.00%	17.41%	12.15%	18.14%	-19.99%	17.28%	15.21%
EFIV State Street SPDR S&P 500 ESG ETF	-4.39%	18.47%	23.80%	27.92%	-17.76%	31.70%	16.69%

Returns By Period

In the year-to-date period, PXWEX achieves a -7.00% return, which is significantly lower than EFIV's -4.39% return.

PXWEX

• 1D: 0.12%
• 1M: -8.32%
• YTD: -7.00%
• 6M: -2.68%
• 1Y: 12.67%
• 3Y*: 10.70%
• 5Y*: 5.44%
• 10Y*: 8.82%

EFIV

• 1D: 2.85%
• 1M: -5.17%
• YTD: -4.39%
• 6M: -0.28%
• 1Y: 19.21%
• 3Y*: 18.43%
• 5Y*: 12.58%
• 10Y*: —

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

PXWEX vs. EFIV - Expense Ratio Comparison

PXWEX has a 0.77% expense ratio, which is higher than EFIV's 0.10% expense ratio.

PXWEX

Pax Ellevate Global Women’s Leadership Fund

EFIV

State Street SPDR S&P 500 ESG ETF

Return for Risk

PXWEX vs. EFIV — Risk / Return Rank

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

PXWEX

PXWEX Risk / Return Rank: 39
PXWEX Sharpe Ratio Rank: 36
PXWEX Sortino Ratio Rank: 38
PXWEX Omega Ratio Rank: 37
PXWEX Calmar Ratio Rank: 37
PXWEX Martin Ratio Rank: 45

EFIV

EFIV Risk / Return Rank: 68
EFIV Sharpe Ratio Rank: 63
EFIV Sortino Ratio Rank: 66
EFIV Omega Ratio Rank: 69
EFIV Calmar Ratio Rank: 66
EFIV Martin Ratio Rank: 75

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.

PXWEX vs. EFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax Ellevate Global Women’s Leadership Fund (PXWEX) and State Street SPDR S&P 500 ESG ETF (EFIV). 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.

	PXWEX	EFIV	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.06	-0.27
Sortino ratio Return per unit of downside risk	1.22	1.62	-0.40
Omega ratio Gain probability vs. loss probability	1.17	1.25	-0.07
Calmar ratio Return relative to maximum drawdown	1.00	1.61	-0.61
Martin ratio Return relative to average drawdown	4.50	7.57	-3.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXWEX vs. EFIV - Sharpe Ratio Comparison

The current PXWEX Sharpe Ratio is 0.80, which is comparable to the EFIV Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of PXWEX and EFIV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PXWEX	EFIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.06	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.75	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.92	-0.59

Correlation

The correlation between PXWEX and EFIV is 0.93, 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

PXWEX vs. EFIV - Dividend Comparison

PXWEX's dividend yield for the trailing twelve months is around 10.57%, more than EFIV's 1.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXWEX Pax Ellevate Global Women’s Leadership Fund	10.57%	9.83%	9.47%	1.60%	3.12%	1.21%	1.04%	3.03%	4.90%	2.49%	1.80%	2.41%
EFIV State Street SPDR S&P 500 ESG ETF	1.08%	1.03%	1.20%	1.37%	1.64%	1.19%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PXWEX vs. EFIV - Drawdown Comparison

The maximum PXWEX drawdown since its inception was -53.70%, which is greater than EFIV's maximum drawdown of -24.52%. Use the drawdown chart below to compare losses from any high point for PXWEX and EFIV.

Drawdown Indicators

	PXWEX	EFIV	Difference
Max Drawdown Largest peak-to-trough decline	-53.70%	-24.52%	-29.18%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-12.50%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-29.67%	-24.52%	-5.15%
Max Drawdown (10Y) Largest decline over 10 years	-34.47%	—	—
Current Drawdown Current decline from peak	-9.48%	-6.86%	-2.62%
Average Drawdown Average peak-to-trough decline	-9.84%	-4.92%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.65%	-0.17%

Volatility

PXWEX vs. EFIV - Volatility Comparison

The current volatility for Pax Ellevate Global Women’s Leadership Fund (PXWEX) is 4.55%, while State Street SPDR S&P 500 ESG ETF (EFIV) has a volatility of 5.18%. This indicates that PXWEX experiences smaller price fluctuations and is considered to be less risky than EFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXWEX	EFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	5.18%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	9.22%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.25%	18.16%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	16.94%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	16.96%	-0.05%