Impax US Sustainable Economy Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.2%
1 yr return
29.8%
3 Yr Avg Return
10.2%
5 Yr Avg Return
13.3%
Net Assets
$259 M
Holdings in Top 10
29.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.88%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PXWGX - Profile
Distributions
- YTD Total Return 9.2%
- 3 Yr Annualized Total Return 10.2%
- 5 Yr Annualized Total Return 13.3%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 0.74%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameImpax US Sustainable Economy Fund
-
Fund Family NamePAXWORLDFF
-
Inception DateFeb 04, 1998
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerScott LaBreche
Fund Description
The US Sustainable Economy Fund follows a sustainable investing approach, investing in companies that the Adviser believes are well positioned to benefit from the transition to a more sustainable economy, integrating environmental, social and governance (ESG) analysis into portfolio construction and managing the portfolio within certain risk parameters relative to the Fund’s benchmark universe of Russell 1000 Index companies.
Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in large-capitalization US equity securities. The Fund also may invest up to 20% of its assets in non-US issuers, including emerging market investments and American Depository Receipts (ADRs).
The Fund employs a systematic investment strategy that integrates proprietary and external tools and metrics in the portfolio construction process. The Fund incorporates the Impax Sustainability Lens, a tool utilized by the Adviser to facilitate a systematic review of the economic opportunities and risks associated with the transition to a more sustainable economy. The tool highlights sub-industries with transition tailwinds and headwinds, enabling the investment team to construct a portfolio weighted towards companies that the Adviser believes present attractive opportunities and lower risks. The Fund may take significant positions in one or more sectors, including the information technology sector.
The Fund also utilizes the Impax Systematic ESG Rating, a fundamental, bottom-up rating by the Adviser of a company’s ESG profile. The rating emphasizes management of ESG-related risks, incorporates ESG trends (taking into account progress or regression in a company’s ESG profile) and takes into account any involvement by the company in significant ESG-related controversies.
Under normal market conditions, and as a result of the Adviser’s focus on risks and opportunities accompanying the transition to a more sustainable economy, the Fund is fossil fuel-free - not invested in securities of companies that the Adviser determines derive revenues or profits from exploration, production, refining or processing of thermal coal, oil or gas, or significant (generally more than 5%) revenues or profits from storage, distribution or power generation from the same. However, a company may be included in the portfolio if the Adviser determines that it has established itself as a leader in the transition to a zero-emissions energy economy with reduction objectives that the Adviser believes are aligned with the Paris Agreement’s objective of limiting future warming to 2⁰C. Under the Fund’s fossil fuel-free investment approach, fossil fuel
holdings are replaced with energy efficiency stocks. This approach is described more fully below under Sustainable Investing in the About the Funds section of this Prospectus.
PXWGX - Performance
Return Ranking - Trailing
Period | PXWGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.2% | 0.3% | 17.0% | 46.50% |
1 Yr | 29.8% | 3.7% | 53.6% | 61.50% |
3 Yr | 10.2%* | -10.3% | 30.6% | 38.88% |
5 Yr | 13.3%* | -7.9% | 109.2% | 60.18% |
10 Yr | 11.4%* | 0.4% | 21.0% | 54.28% |
* Annualized
Return Ranking - Calendar
Period | PXWGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.3% | -42.6% | 47.4% | 57.20% |
2022 | -24.1% | -56.3% | -4.2% | 72.47% |
2021 | 6.3% | -27.2% | 53.7% | 85.23% |
2020 | 11.1% | -36.2% | 2181.7% | 52.78% |
2019 | 22.9% | -22.7% | 40.4% | 51.50% |
Total Return Ranking - Trailing
Period | PXWGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.2% | 0.3% | 17.0% | 46.50% |
1 Yr | 29.8% | 3.7% | 53.6% | 61.50% |
3 Yr | 10.2%* | -10.3% | 30.6% | 38.88% |
5 Yr | 13.3%* | -7.9% | 109.2% | 60.18% |
10 Yr | 11.4%* | 0.4% | 21.0% | 54.28% |
* Annualized
Total Return Ranking - Calendar
Period | PXWGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 23.8% | -5.0% | 47.4% | 51.95% |
2022 | -18.2% | -36.8% | -2.2% | 51.72% |
2021 | 30.0% | 3.0% | 124.3% | 11.77% |
2020 | 13.3% | -15.8% | 2266.0% | 74.87% |
2019 | 27.1% | -0.4% | 241.3% | 76.15% |
NAV & Total Return History
PXWGX - Holdings
Concentration Analysis
PXWGX | Category Low | Category High | PXWGX % Rank | |
---|---|---|---|---|
Net Assets | 259 M | 2.59 M | 1.55 T | 74.90% |
Number of Holdings | 148 | 1 | 4053 | 42.85% |
Net Assets in Top 10 | 84 M | 885 K | 387 B | 77.09% |
Weighting of Top 10 | 28.98% | 0.3% | 112.0% | 77.00% |
Top 10 Holdings
- Apple, Inc. 5.94%
- Microsoft Corp. 5.91%
- NVIDIA Corp. 3.69%
- Eli Lilly Co. 2.32%
- Mastercard, Inc., Class A 2.26%
- Merck Co., Inc. 2.05%
- Johnson Johnson 1.80%
- Verizon Communications, Inc. 1.73%
- Texas Instruments, Inc. 1.65%
- Zoetis, Inc., Class A 1.62%
Asset Allocation
Weighting | Return Low | Return High | PXWGX % Rank | |
---|---|---|---|---|
Stocks | 98.72% | 0.00% | 124.03% | 52.85% |
Cash | 1.54% | 0.00% | 99.06% | 40.34% |
Preferred Stocks | 0.00% | 0.00% | 2.38% | 91.79% |
Other | 0.00% | -13.91% | 100.00% | 86.24% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 90.90% |
Bonds | 0.00% | -0.50% | 94.15% | 91.40% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PXWGX % Rank | |
---|---|---|---|---|
Technology | 29.36% | 0.00% | 48.94% | 6.60% |
Healthcare | 15.97% | 0.00% | 60.70% | 22.75% |
Financial Services | 13.05% | 0.00% | 55.59% | 68.89% |
Industrials | 9.53% | 0.00% | 29.90% | 42.56% |
Consumer Defense | 7.78% | 0.00% | 47.71% | 26.89% |
Communication Services | 7.45% | 0.00% | 27.94% | 64.68% |
Consumer Cyclical | 6.28% | 0.00% | 30.33% | 89.58% |
Real Estate | 5.14% | 0.00% | 31.91% | 6.44% |
Basic Materials | 3.78% | 0.00% | 25.70% | 23.23% |
Utilities | 1.62% | 0.00% | 20.91% | 73.51% |
Energy | 0.04% | 0.00% | 41.64% | 85.36% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PXWGX % Rank | |
---|---|---|---|---|
US | 98.72% | 0.00% | 124.03% | 41.28% |
Non US | 0.00% | 0.00% | 62.81% | 93.82% |
PXWGX - Expenses
Operational Fees
PXWGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.88% | 0.01% | 16.07% | 45.79% |
Management Fee | 0.63% | 0.00% | 1.89% | 68.66% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 61.00% |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
PXWGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
PXWGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
PXWGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 496.00% | 73.17% |
PXWGX - Distributions
Dividend Yield Analysis
PXWGX | Category Low | Category High | PXWGX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 25.10% | 79.23% |
Dividend Distribution Analysis
PXWGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Semi-Annually |
Net Income Ratio Analysis
PXWGX | Category Low | Category High | PXWGX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.74% | -54.00% | 6.06% | 47.73% |
Capital Gain Distribution Analysis
PXWGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Semi-Annually | Annually | Quarterly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 23, 2023 | $0.105 | OrdinaryDividend |
Dec 23, 2022 | $1.367 | OrdinaryDividend |
Jun 23, 2022 | $0.103 | OrdinaryDividend |
Jun 23, 2021 | $0.114 | OrdinaryDividend |
Jun 23, 2020 | $0.131 | OrdinaryDividend |
Jun 21, 2019 | $0.153 | OrdinaryDividend |
Jun 22, 2018 | $0.144 | OrdinaryDividend |
Dec 20, 2013 | $0.036 | OrdinaryDividend |
Dec 20, 2012 | $0.025 | OrdinaryDividend |
PXWGX - Fund Manager Analysis
Managers
Scott LaBreche
Start Date
Tenure
Tenure Rank
Feb 01, 2021
1.33
1.3%
Scott LaBreche is Director of Portfolio Analytics and Index Optimization at Impax Asset Management LLC, formerly Pax World Management LLC, and a Portfolio Manager of the Pax Ellevate Global Women’s Leadership Fund and the Pax MSCI EAFE ESG Leaders Index Fund. Across all Pax World Funds, Scott is responsible for fund research, quantitative ESG research, advanced analytics, risk oversight, fund optimization and board reporting, as well as overseeing performance and attribution.
Christine Cappabianca
Start Date
Tenure
Tenure Rank
Jun 22, 2021
0.94
0.9%
Christine Cappabianca is a Portfolio Manager of the Global Women’s Fund, the Global Sustainable Infrastructure Fund, the U.S. Sustainable Economy Fund and the International Sustainable Economy Fund. Christine joined IAM in 2021. Prior to joining the Adviser, Ms. Cappabianca spent 14 years with BNY Mellon Investment Management, where she held several positions, most recently as senior quantitative research analyst and portfolio manager for the firm’s Internet of Things, Blockchain Innovation, U.S. Manufacturing and Smart Cures Innovation thematic strategies. She also served as the ESG data expert on Mellon’s ESG Council. Ms. Cappabianca has a Bachelor of Arts in Economics from Harvard University and a Master of Science in Investment Management from Boston University. She holds the Sustainability Accounting Standards Board Fundamentals of Sustainability Accounting Credential.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.21 | 2.42 |