Correlation
The correlation between FEX and PRBLX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
FEX vs. PRBLX
Compare and contrast key facts about First Trust Large Cap Core AlphaDEX Fund (FEX) and Parnassus Core Equity Fund (PRBLX).
FEX is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Large Cap Core Index. It was launched on May 8, 2007. PRBLX is managed by Parnassus. It was launched on Aug 31, 1992.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FEX or PRBLX.
Performance
FEX vs. PRBLX - Performance Comparison
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Key characteristics
FEX:
0.58
PRBLX:
0.80
FEX:
0.86
PRBLX:
1.03
FEX:
1.12
PRBLX:
1.14
FEX:
0.50
PRBLX:
0.73
FEX:
1.69
PRBLX:
2.96
FEX:
5.75%
PRBLX:
4.00%
FEX:
18.51%
PRBLX:
18.13%
FEX:
-58.81%
PRBLX:
-42.20%
FEX:
-6.26%
PRBLX:
-1.93%
Returns By Period
In the year-to-date period, FEX achieves a 1.07% return, which is significantly lower than PRBLX's 2.70% return. Over the past 10 years, FEX has underperformed PRBLX with an annualized return of 9.81%, while PRBLX has yielded a comparatively higher 12.29% annualized return.
FEX
1.07%
4.91%
-6.26%
10.70%
9.03%
13.89%
9.81%
PRBLX
2.70%
5.18%
-0.74%
14.36%
13.15%
14.88%
12.29%
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FEX vs. PRBLX - Expense Ratio Comparison
FEX has a 0.59% expense ratio, which is lower than PRBLX's 0.82% expense ratio.
Risk-Adjusted Performance
FEX vs. PRBLX — Risk-Adjusted Performance Rank
FEX
PRBLX
FEX vs. PRBLX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Core AlphaDEX Fund (FEX) and Parnassus Core Equity Fund (PRBLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Dividends
FEX vs. PRBLX - Dividend Comparison
FEX's dividend yield for the trailing twelve months is around 1.26%, less than PRBLX's 9.68% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEX First Trust Large Cap Core AlphaDEX Fund | 1.26% | 1.18% | 1.38% | 1.61% | 0.80% | 1.20% | 1.32% | 1.34% | 1.07% | 1.29% | 1.33% | 1.30% |
PRBLX Parnassus Core Equity Fund | 9.68% | 10.00% | 6.01% | 10.13% | 7.77% | 5.87% | 8.02% | 9.64% | 7.16% | 3.80% | 9.63% | 3.12% |
Drawdowns
FEX vs. PRBLX - Drawdown Comparison
The maximum FEX drawdown since its inception was -58.81%, which is greater than PRBLX's maximum drawdown of -42.20%. Use the drawdown chart below to compare losses from any high point for FEX and PRBLX.
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Volatility
FEX vs. PRBLX - Volatility Comparison
First Trust Large Cap Core AlphaDEX Fund (FEX) has a higher volatility of 4.66% compared to Parnassus Core Equity Fund (PRBLX) at 4.13%. This indicates that FEX's price experiences larger fluctuations and is considered to be riskier than PRBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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