PAXDX Fees and Costs — Impax Global Sustainable Infrastructure Fund, Investor Class
Data updated: 2026-03-11
The net expense ratio is 0.90%: a 0.65% management fee plus a 0.25% 12b-1 fee. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $49K in broker commissions, 0.0510% of average net assets, and portfolio turnover was 34%.
PAXDX Fees and Expenses
Annual operating expenses and sales charges of PAXDX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PAXDX Costs Over Time
On $10,000 invested in PAXDX, assuming 5% a year before costs, total costs come to $595 over 5 years, cutting the return by 1.00% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $327 | $595 |
| Value after costs | $10,400 | $11,249 | $12,167 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
PAXDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0510%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): $55.1M
- Portfolio turnover (prospectus): 34%
- Securities on loan, average value: $48K
- Net income from securities lending: $253 (0.000% of average net assets)
PAXDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $14K | 28.13% |
| Morgan Stanley & Co. LLC | $12K | 25.27% |
| Barclays Capital, Inc. | $8K | 15.38% |
| ABN AMRO Clearing Chicago LLC | $5K | 10.61% |
| BofA Securities, Inc. | $4K | 8.41% |
| Optiver V.O.F. | $2K | 4.90% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 3.75% |
| National Bank of Canada | $931 | 1.90% |
| Goldman Sachs & Co. LLC | $586 | 1.20% |
| Liquidnet, Inc. | $223 | 0.45% |
PAXDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $55.1M | 100.00% |
| Barclays Capital, Inc. | $32 | 0.00% |
Impax Global Sustainable Infrastructure Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PXDIX | Institutional Class | 0.65% | none |
| PAXDX | Investor Class | 0.90% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.