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Morningstar

Impax High Yield Bond Investor PAXHX

Morningstar Medalist Rating
Medalist Rating as of | See Impax Investment Hub
  • NAV / 1-Day Return 5.75  /  0.50 %
  • Total Assets 560.6 Mil
  • Adj. Expense Ratio
    0.920%
  • Expense Ratio 0.920%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 5.49%
  • Effective Duration —

USD | NAV as of Sep 22, 2023 | 1-Day Return as of Sep 22, 2023, 12:57 AM GMT+0

Morningstar’s Analysis PAXHX

Will PAXHX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PAXHX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PAXHX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PAXHX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Strength in Impax High Yield Bond Investor's Process Pillar is partially offset by an Average People Pillar rating, leading to a Morningstar Medalist Rating of Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-costliest quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings PAXHX

More PAXHX Holdings
  • Current Portfolio Date
  • Equity Holdings 1
  • Bond Holdings 267
  • Other Holdings 7
  • % Assets in Top 10 Holdings 8.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Ssc Government Mm Gvmxx

3.28
18,815,843
Cash and Equivalents

CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.75%

1.27
7,266,710
Corporate

Darling Ingredients, Inc 6%

1.00
5,718,040
Corporate

Avantor Funding Inc 4.625%

0.91
5,202,391
Corporate

NCR Corporation 5.125%

0.89
5,079,971
Corporate

Graphic Packaging International LLC 3.75%

0.82
4,703,616
Corporate

Interface, Inc. 5.5%

0.80
4,581,838
Corporate

Iron Mountain Inc. 4.875%

0.80
4,559,743
Corporate

United Natural Foods, Inc. 6.75%

0.78
4,482,858
Corporate

Prime Securities Services Borrower, LLC and Prime Finance, Inc. 6.25%

0.78
4,476,070
Corporate