PAXDX Performance — Impax Global Sustainable Infrastructure Fund, Investor Class
Data updated: 2026-03-11
PAXDX returned +18.37% over one year to Dec 2025. Annualised returns are +8.40% over 3 years and +4.66% over 5 years. Against its Thematic Equity category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $127, against $172 for the category, and to $118 over one year, against $113. Volatility over the past three years was 13.21% a year. In the 12 months to Dec 2025 the fund lost a net $4.5M, and assets reached $97.62M.
PAXDX Growth of $100
What $100 invested in Impax Global Sustainable Infrastructure Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Thematic Equity category average over the same months.
| Period | PAXDX | Category average |
|---|---|---|
| 1 year (Jan 2025 – Dec 2025) | $118 | $113 |
| 3 years (Jan 2023 – Dec 2025) | $127 | $172 |
| 5 years (Jan 2021 – Dec 2025) | $126 | $149 |
| Since data start (Jul 2019 – Dec 2025) | $157 | $211 |
PAXDX Trailing Returns
Total returns to Dec 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +18.37% |
| 3 years (annualised) | +8.40% |
| 5 years (annualised) | +4.66% |
PAXDX Annual Returns
Calendar-year total returns of Impax Global Sustainable Infrastructure Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 | +18.37% |
| 2024 | −1.56% |
| 2023 | +9.31% |
| 2022 | −13.44% |
| 2021 | +13.87% |
| 2020 | +14.25% |
| 2019 (Jul–Dec) | +9.72% |
PAXDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +3.3% | +1.9% | +2.1% | +5.0% | +3.1% | +1.7% | −2.3% | +1.8% | +1.0% | −1.0% | +0.7% | 0.0% |
| 2024 | −2.2% | +2.4% | +2.9% | −4.7% | +4.0% | −1.5% | +5.2% | +3.5% | +2.5% | −5.7% | +1.1% | −7.9% |
| 2023 | +2.1% | −3.6% | +6.3% | +5.8% | −3.3% | +0.8% | −4.7% | −4.7% | +0.8% | −3.2% | +8.5% | +5.7% |
| 2022 | +2.7% | −0.5% | −4.5% | −7.3% | +1.3% | −5.2% | −11.5% | −4.3% | +6.4% | −3.5% | +10.0% | +4.2% |
| 2021 | +5.6% | +2.3% | −0.3% | −0.7% | +1.2% | +1.9% | −5.4% | +2.5% | +1.3% | +2.5% | −3.3% | +6.0% |
| 2020 | −12.0% | −8.7% | −0.6% | +2.7% | +4.2% | +12.2% | −2.9% | +5.9% | +4.0% | +3.2% | +10.5% | −2.4% |
| 2019 | — | — | — | — | — | — | +2.5% | −2.0% | +1.8% | +2.9% | +3.0% | +1.2% |
PAXDX Risk
Risk measures from monthly returns over Jan 2023 – Dec 2025.
- 3-year volatility (annualised): 13.21%
- 3-year Sharpe ratio: 0.30 (vs 4.5% risk-free rate)
- Best month: +8.46% (Nov 2023)
- Worst month: −7.88% (Dec 2024)
PAXDX Fund Flows
Monthly money in and out of Impax Global Sustainable Infrastructure Fund, from SEC Form N-PORT.
- 12-month net flow: −$4.5M
- 12-month gross sales (incl. reinvestments): $9.5M
- Sales ÷ redemptions: 0.68×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Dec 2025 | $1.6M | $2.8M | −$1.2M |
| Nov 2025 | $348K | $824K | −$476K |
| Oct 2025 | $1.5M | $866K | $682K |
| Sep 2025 | $1.3M | $210K | $1.1M |
| Aug 2025 | $205K | $137K | $68K |
| Jul 2025 | $339K | $3.3M | −$2.9M |
| Jun 2025 | $1.8M | $481K | $1.3M |
| May 2025 | $626K | $3.0M | −$2.3M |
| Apr 2025 | $336K | $541K | −$204K |
| Mar 2025 | $1.2M | $575K | $585K |
| Feb 2025 | $48K | $555K | −$507K |
| Jan 2025 | $188K | $793K | −$605K |
PAXDX Assets Under Management
Net assets of Impax Global Sustainable Infrastructure Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-12-31 | $97.62M |
| 2025-09-30 | $99.98M |
| 2025-06-30 | $101.30M |
| 2025-03-31 | $94.29M |
| 2024-12-31 | $88.22M |
| 2024-09-30 | $101.47M |
| 2024-06-30 | $91.32M |
| 2024-03-31 | $95.16M |
| 2023-12-31 | $93.91M |
| 2023-09-30 | $102.47M |
| 2023-06-30 | $112.37M |
| 2023-03-31 | $111.00M |
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.