PXNIX Fees and Costs — Impax International Sustainable Economy Fund, Institutional Class
Data updated: 2026-08-19
The net expense ratio is 0.44%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $297K in broker commissions, 0.0206% of average net assets, and portfolio turnover was 52%.
PXNIX Fees and Expenses
Annual operating expenses and sales charges of PXNIX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.44% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.44% |
| Fee waiver | — |
| Net expense ratio | 0.44% |
| 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 |
PXNIX Costs Over Time
On $10,000 invested in PXNIX, assuming 5% a year before costs, total costs come to $291 over 5 years, cutting the return by 0.48% 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 0.44%) | $46 | $145 | $253 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $7 | $27 |
| Total costs | $48 | $159 | $291 |
| Value after costs | $10,452 | $11,417 | $12,472 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
PXNIX 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): 0.0206%
- Total broker commissions: $297K
- Bought from dealers (principal trades, not a cost): $470.0M
- Portfolio turnover (prospectus): 52%
- Securities on loan, average value: $429K
- Net income from securities lending: $641 (0.000% of average net assets)
PXNIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $93K | 31.58% |
| Morgan Stanley & Co. LLC | $69K | 23.43% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $61K | 20.74% |
| BofA Securities, Inc. | $26K | 8.83% |
| Barclays Capital, Inc. | $19K | 6.35% |
| Instinet, LLC | $10K | 3.26% |
| UBS Securities LLC | $8K | 2.85% |
| Societe Generale | $6K | 2.04% |
| Optiver V.O.F. | $1K | 0.51% |
| BNP Paribas Securities Corp. | $1K | 0.40% |
PXNIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $470.0M | 100.00% |
Impax International Sustainable Economy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PXNIX | Institutional Class | 0.44% | none |
| PXINX | Investor Class | 0.69% | 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.