Published on 4 Oct 2023 on Zacks via Yahoo Finance

3 Pax World Funds to Buy for Steady Returns

Pax Mutual Funds, now overseen by Impax Asset Management LLC after its acquisition in 2018, held more than $50 billion in assets as of Jun 30, 2023.These funds provide affordable investment options with an average expense ratio of 0.83%. Additionally, a significant portion of their funds, around 84.62%, is offered as no-load options, making them an appealing choice for investors seeking affordability and flexibility to their portfolios.These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive year-to-date, three-year, and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio compared to the category average. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).Impax Sustainable Allocation Inv Fund PAXWX invests in equity and debt securities. PAXWX advisors use a multi-asset ESG strategy to reduce volatility.Kirsteen Morrison has been the lead manager of PAXWX since Nov 15, 2022. Most of the fund’s holdings were in companies like Pax Large Cap Fund (40.1%), Pax Core Bond Fund (34.2%) and Pax MscI Intl Esg Index Fund (4.9%) as of Mar 31, 2023.PAXWX’s 3-year and 5-year annualized returns are 3.4% and 5.9%, respectively. Its net expense ratio is 0.30% compared to the category average of 0.84%. PAXWX has a Zacks Mutual Fund Rank #1.To see how this fund performed compared in its category and other 1 and 2 Ranked Mutual Funds, please click here.Impax US Sustainable Economy Investor Fund PXWGX invests in large-capitalization U.S. equity securities. PXWGX advisors follow sustainable investing principles, integrating ESG analysis into portfolio construction and risk management relative to the Russell 1000 Index companies’ benchmark.Christine Cappabianca has been the lead manager of PXWGX since Jun 21, 2021. Most of the fund’s holdings were in companies like Microsoft Corp (5.7%), Apple Inc. (4.8%) and NVIDIA Corp (3.9%) as of Jun 30, 2023.PXWGX’s 3-year and 5-year annualized returns are 10% and 9.5%, respectively. Its net expense ratio is 0.70% compared to the category average of 0.84%. PXWGX has a Zacks Mutual Fund Rank #2.Impax Global Sustainable Infras Inv Fund PAXDX invests in equity securities of companies that generate substantial revenues from owning, operating, developing, or distributing goods, services, or assets related to sustainable infrastructure.Christine Cappabianca has been the lead manager of PAXDX since Jun 21, 2021. Most of the fund’s holdings were in companies like Schneider Electric S.E. (2.5%), Iberdrola, S.A. (2.2%), and Waste Management, Inc. (2%) as of Jun 30, 2023.PAXDX’s 3-year and 5-year annualized returns are 3.3% and 5.3%, respectively. Its net expense ratio is 0.80% compared with the category average of 1.16%. PAXDX has a Zacks Mutual Fund Rank #2.

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