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Fall 2009

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Among the contributions women make to a company, stock performance may be the most overlooked. The Pax World Women’s Equity Fund (PXWEX) invests in companies that invest in women. In addition to our rigorous financial analysis and equally rigorous social, environmental and governance (ESG) research, we apply additional criteria to help us identify companies whose policies and programs promote gender equality and women’s advancement. The way we view it, when companies take proactive steps to further the role and reap the full value of women in their workforce, the benefits are felt by everyone – shareholders included. To learn more, visitwww.paxworld.com/womensequity Before investing in a Pax World fund, you should carefully consider the fund’s investment objectives, risks, charges and expenses. For this and other important information about the fund, please obtain a fund prospectus by calling 800.767.1729 or visiting www.paxworld.com. Please read it carefully before investing. An investment in the Fund involves risks, including loss of principal. Distributed by: ALPS Distributors, Inc. Member FINRA (09/09)

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