Fund Evaluator:

Impax Global Women’s Leadership Instl Overview

Impax Global Women’s Leadership Instl (PXWIX) is an actively managed International Equity Global Large-Stock Blend fund. Impax Asset Management launched the fund in 2006.

The investment seeks long-term growth of capital. The fund seeks to construct a universe of companies around the world that advance and empower women through gender diversity on boards and in senior management, and that promote gender equity in the workplace through policies and practices focused on advancing gender diversity, inclusion and equity. Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies that the Adviser has determined are “global women’s leaders.”

About Impax Global Women’s Leadership Instl (PXWIX)

There are 2 members of the management team with an average tenure of 6.10 years: Scott LaBreche (2014), Robb Ruhr (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI World NR USD index with a weighting of 100%. Impax Global Women’s Leadership Instl has 114 securities in its portfolio. The top 10 holdings constitute 30.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.

Impax Global Women’s Leadership Instl is part of the Equity global asset class and is within the International Equity fund group. Impax Global Women’s Leadership Instl has 27.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 71.3%. There is 27.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Impax Global Women’s Leadership Instl has 1.0% of the portfolio in cash.

Assets Under Management

The fund has $510 million in total assets, which is below the $1 billion average for the Global Large-Stock Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PXWIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Impax Global Women’s Leadership Instl expense ratio is average compared to funds in the Global Large-Stock Blend category. Impax Global Women’s Leadership Instl has an expense ratio of 0.53%, which is 49% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Impax Global Women’s Leadership Instl has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 43% for the Global Large-Stock Blend category.

Recently, in the month of June 2026, Impax Global Women’s Leadership Instl returned -0.9%, which earned it a grade of D, as the Global Large-Stock Blend category had an average return of -0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Impax Global Women’s Leadership Instl has a trailing yield of 1.59%, which is above the 0.96% category average. The fund normally distributes its income semi-annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Impax Global Women’s Leadership Instl Grades

Year to date, the fund has returned 8.9%, 0.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 18.9% over the past year (grade of D), 15.5% over the past three years (grade of D) and 7.4% per year over the past five years (grade of D) and 10.8% per year over the past 10 years (grade of D).

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