PAXHX Performance — Impax High Yield Bond Fund, Investor Class
Data updated: 2026-08-19
PAXHX returned +2.03% year to date and +5.82% over one year to Jun 2026. Annualised returns are +7.90% over 3 years and +2.84% over 5 years. Against its High Yield Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $126, against $125 for the category, and to $106 over one year, against $106. Volatility over the past three years was 4.40% a year. In the 12 months to Jun 2026 the fund took in a net $10.0M, and assets reached $531.71M.
PAXHX Growth of $100
What $100 invested in Impax High Yield Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | PAXHX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $106 | $106 |
| 3 years (Jul 2023 – Jun 2026) | $126 | $125 |
| 5 years (Jul 2021 – Jun 2026) | $115 | $119 |
| Since data start (Jul 2019 – Jun 2026) | $132 | $134 |
PAXHX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.03% |
| 1 year | +5.82% |
| 3 years (annualised) | +7.90% |
| 5 years (annualised) | +2.84% |
PAXHX Annual Returns
Calendar-year total returns of Impax High Yield Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.03% |
| 2025 | +8.72% |
| 2024 | +6.06% |
| 2023 | +11.10% |
| 2022 | −12.89% |
| 2021 | +2.94% |
| 2020 | +7.79% |
| 2019 (Jul–Dec) | +4.41% |
PAXHX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +0.3% | −1.3% | +1.7% | +0.7% | +0.3% | — | — | — | — | — | — |
| 2025 | +1.2% | +0.6% | −0.8% | +0.5% | +1.5% | +1.8% | +0.3% | +1.0% | +0.8% | +0.2% | +0.7% | +0.7% |
| 2024 | 0.0% | −0.1% | +0.8% | −1.4% | +1.3% | +1.1% | +1.6% | +1.4% | +1.1% | −0.7% | +1.0% | −0.2% |
| 2023 | +1.0% | −1.6% | +3.8% | +1.5% | −1.6% | +0.9% | −1.4% | +0.1% | +1.2% | −1.6% | +4.6% | +3.9% |
| 2022 | −1.0% | −1.2% | −2.9% | −6.8% | −0.1% | −4.1% | −4.3% | −2.7% | +6.1% | −0.7% | +1.8% | +2.8% |
| 2021 | 0.0% | −0.1% | 0.0% | +1.0% | +0.2% | +0.8% | −0.1% | +0.3% | +0.5% | +1.7% | −0.9% | −0.4% |
| 2020 | −8.7% | −0.9% | +0.1% | +0.9% | +3.8% | +3.8% | −0.8% | +0.7% | +4.8% | +1.4% | +2.8% | +0.5% |
| 2019 | — | — | — | — | — | — | +0.4% | +0.8% | +0.7% | +1.6% | +0.4% | +0.4% |
PAXHX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 4.40%
- 3-year Sharpe ratio: 0.77 (vs 4.5% risk-free rate)
- Best month: +4.61% (Nov 2023)
- Worst month: −1.62% (Oct 2023)
PAXHX Fund Flows
Monthly money in and out of Impax High Yield Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $10.0M
- 12-month gross sales (incl. reinvestments): $111.0M
- Sales ÷ redemptions: 1.10×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $8.5M | $8.7M | −$248K |
| May 2026 | $8.2M | $6.2M | $2.0M |
| Apr 2026 | $6.2M | $6.2M | $5K |
| Mar 2026 | $6.9M | $9.7M | −$2.7M |
| Feb 2026 | $9.2M | $6.9M | $2.4M |
| Jan 2026 | $7.3M | $5.1M | $2.2M |
| Dec 2025 | $10.2M | $7.5M | $2.7M |
| Nov 2025 | $19.6M | $23.5M | −$3.9M |
| Oct 2025 | $14.7M | $7.2M | $7.5M |
| Sep 2025 | $6.4M | $7.6M | −$1.1M |
| Aug 2025 | $7.5M | $5.9M | $1.6M |
| Jul 2025 | $6.1M | $6.6M | −$436K |
PAXHX Assets Under Management
Net assets of Impax High Yield Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $531.71M |
| 2026-03-31 | $523.89M |
| 2025-12-31 | $533.89M |
| 2025-09-30 | $527.30M |
| 2025-06-30 | $523.85M |
| 2025-03-31 | $520.66M |
| 2024-12-31 | $539.13M |
| 2024-09-30 | $539.84M |
| 2024-06-30 | $530.11M |
| 2024-03-31 | $544.26M |
| 2023-12-31 | $561.40M |
| 2023-09-30 | $554.66M |
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.