Impax Sustainable Allocation Fund
As of its 2026 Q2 report, Impax Sustainable Allocation Fund held 10 positions with $2.40B in net assets. Its ten largest holdings made up 100.0% of the fund. The PAXWX share class costs 0.94% a year. Over the 12 months to May 2026, PAXWX returned 14.4%, with dividends reinvested. In 2026 Q2 it added no new positions and exited none.
The Sustainable Allocation Funds primary investment objective is to seek income and conservation of principal.
The fund invests through a team-managed allocation among multiple underlying Impax funds, which themselves hold companies positioned to benefit from the transition to a sustainable economy and screened using proprietary corporate and issuer resilience analysis covering governance, environmental and social risk management, climate risk, and human capital. The adviser allocates approximately 50–75% to equities and 25–50% to debt securities across underlying funds based on market outlook, valuations, and economic factors, and may adjust allocations without notice. The fund adheres to a fossil fuel policy excluding companies deriving revenues from fossil fuel exploration and production, or more than 5% from refining and distribution unless credible net-zero transition plans exist. Because the fund's returns depend on the adviser's allocation decisions among underlying funds, performance will diverge from any single benchmark.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
PXBIXImpax Core Bond Fund | 32.22% | $772.55M | — |
Impax US Sustainable Economy Fund | 26.04% | $624.27M | — |
PXLIXImpax Large Cap Fund | 10.35% | $248.04M | — |
Impax International Sustainable Economy Fund | 8.81% | $211.19M | — |
Impax Small Cap Fund | 6.16% | $147.70M | — |
PXHIXImpax High Yield Bond Fund | 5.06% | $121.33M | — |
JPMorgan U.S. Treasury Plus Money Market Fund | 3.94% | $94.45M | — |
Impax Global Sustainable Infrastructure ETF | 3.00% | $71.81M | — |
Impax Global Environmental Markets Fund | 2.27% | $54.51M | — |
PXGOXImpax Global Opportunities Fund | 2.11% | $50.61M | — |
All 10 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Other | 96.01% |
| Cash & short-term | 3.94% |
How it has done
PAXWX share class · total returns with dividends reinvested
Volatility over the last 12 months: 8.13%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.94% | +14.44% | +33.16% | +28.62% | -6.80% | |
| 0.69% | +14.75% | +34.18% | +30.24% | -6.70% |
These classes hold the same portfolio, so the 1.63pp spread over 5 years is the cost difference between them — roughly 0.33pp a year — not a difference in what they own.
Fees & fund details
- Expense ratio, by class
- 0.69% – 0.94%· PAXWX 0.94%
- Portfolio turnover
- 13.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
0 new
0 exited
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