AUM
$528,534,151
Holdings
304
Portfolio Manager
Scott LaBreche
Launch Date
March 2014
Launch Date (Institutional)
January 2011
Morningstar Low Carbon Designation™

Overview

An index-based strategy that tracks the performance of the MSCI EAFE ESG Leaders Index, consisting of equity securities with favorable ESG ratings in developed markets excluding the U.S. and Canada.

ESG Leaders

The MSCI EAFE ESG Leaders Index is constructed to provide higher exposure to companies with favorable ESG ratings relative to their sector and industry peers, as determined by MSCI.

Developed Markets

The strategy seeks to closely correspond to the sector and regional diversification of the MSCI EAFE Index, which consists of 21 developed market country indices.

Powered by SmartCarbon™

The strategy is fossil fuel free, utilizing a SmartCarbon1 approach that substitutes energy efficiency companies in place of fossil fuel companies to reduce climate change-related risks and participate in the low carbon energy transition.

Monthly Total Returns

(As of 04/30/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class6.40-14.56-16.26-8.57-0.17-0.222.69
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class6.39-14.52-16.17-8.390.060.032.95
MSCI EAFE ESG Leaders (Net) Index6.40-14.65-15.95-7.500.370.533.42
MSCI EAFE (Net) Index6.46-16.09-17.84-11.34-0.58-0.172.51
Lipper International Large-Cap Core Funds Index6.93-17.56-20.58-15.29-2.82-1.531.57

Quarterly Total Returns

(As of 03/31/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class-13.59-21.30-21.30-11.40-1.40-0.742.02
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class-13.51-21.20-21.20-11.05-1.12-0.492.29
MSCI EAFE ESG Leaders (Net) Index-12.20-21.00-21.00-10.47-0.860.072.76
MSCI EAFE (Net) Index-13.35-22.83-22.83-14.38-1.82-0.621.84
Lipper International Large-Cap Core Funds Index-16.51-25.73-25.73-18.22-4.13-2.080.84
Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Risk Statistics

(As of 04/30/2020)
 5 – Year
Standard Deviation 13.51
Alpha -0.01
Beta 0.94
R-Squared 97
Standard Deviation 13.54
Alpha 0.01
Beta 0.94
R-Squared 97

Morningstar Ratings

(As of 04/30/2020)
 Foreign Large BlendOverall3yrs5yrs10yrs
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class Rating ★★★★ ★★★★ ★★★★
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class Rating ★★★★ ★★★★ ★★★★
  # In Peer Group 641 641 510
Based on risk adjusted returns.

Lipper Rankings

(As of 04/30/2020)
 International Large-Cap Core1yr3yrs5yrs10yrs
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class Percentile Rank 16 14 10
  Prime Rank 14 11 7
  # In Peer Group 90 81 70
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class Percentile Rank 14 9 6
  Prime Rank 12 7 4
  # In Peer Group 90 81 70
Based on total returns.

Net Asset Values

(As of 05/28/2020)
 N.A.V.% Change
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class $8.45 1.20
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class $8.29 1.10
Past performance does not guarantee future results.

Asset Allocation

(As of 04/30/2020)

Portfolio Statistics

(As of 03/31/2020)
Value
Assets (all share classes)$528,534,151
Number of Holdings (All) 304
Turnover Ratio (12/31/2019)§ 31

Regions

(As of 04/30/2020)

Country Allocation

(As of 04/30/2020)
 Portfolio %
Australia 8.50
Austria 0.30
Belgium 0.70
Denmark 3.50
Finland 0.70
France 9.00
Germany 10.40
Hong Kong 2.50
Ireland 0.80
Israel 0.30
Italy 1.00
Japan 25.20
Netherlands 6.10
New Zealand 0.20
Norway 0.70
Portugal 0.40
Singapore 1.60
Spain 3.30
Sweden 3.50
Switzerland 9.00
United Kingdom 11.40

Top Sectors

(As of 04/30/2020)

Top Ten Holdings

(As of 04/30/2020)

Portfolio Management

Scott LaBreche

Director, Portfolio Analytics & Index Strategy Optimization, Portfolio Manager, Pax Ellevate Global Women's Leadership Fund, Pax MSCI EAFE ESG Leaders Index Fund

Scott LaBreche is Director, Portfolio Analytics & Index Strategy 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.

Prior to joining the firm in 2007, Scott was a Securities Fund Analyst at Lincoln Financial Group. He has been in the mutual fund industry since 1999.

Scott holds a Bachelor of Science in Business Administration and a Masters of Business Administration with Advanced Certificate in Finance from Southern New Hampshire University.

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