FKGRX vs. SBPAX
FKGRX (Franklin Growth Fund Class A) and SBPAX (Western Asset Pennsylvania Municipals Fund) are both mutual funds - FKGRX is a Large Cap Growth Equities fund actively managed by Franklin Templeton, while SBPAX is a Municipal Bonds fund managed by Franklin Templeton. Over the past 10 years, FKGRX returned 13.75%/yr vs 1.53%/yr for SBPAX. Their -0.02 correlation means they have often moved in opposite directions in the past. FKGRX charges 0.78%/yr vs 0.80%/yr for SBPAX.
Performance
FKGRX vs. SBPAX - Performance Comparison
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Returns By Period
In the year-to-date period, FKGRX achieves a 8.02% return, which is significantly higher than SBPAX's 0.55% return. Over the past 10 years, FKGRX has outperformed SBPAX with an annualized return of 13.75%, while SBPAX has yielded a comparatively lower 1.53% annualized return.
FKGRX
- 1D
- 1.62%
- 1M
- 2.12%
- 6M
- 7.69%
- YTD
- 8.02%
- 1Y
- 13.46%
- 3Y*
- 16.58%
- 5Y*
- 8.10%
- 10Y*
- 13.75%
- ALL TIME*
- 11.88%
SBPAX
- 1D
- 0.00%
- 1M
- -1.68%
- 6M
- -0.04%
- YTD
- 0.55%
- 1Y
- 5.44%
- 3Y*
- 3.71%
- 5Y*
- 0.00%
- 10Y*
- 1.53%
- ALL TIME*
- 4.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FKGRX vs. SBPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FKGRX Franklin Growth Fund Class A | 8.02% | 15.38% | 17.96% | 27.54% | -25.32% | 21.61% | 30.71% | 32.08% | -3.37% | 26.31% |
SBPAX Western Asset Pennsylvania Municipals Fund | 0.55% | 4.71% | 2.58% | 4.43% | -10.82% | 1.75% | 3.89% | 6.91% | 1.08% | 4.48% |
Correlation
The correlation between FKGRX and SBPAX is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995 | -0.02 |
The correlation between FKGRX and SBPAX shifts across timeframes, from -0.02 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FKGRX vs. SBPAX — Risk / Return Rank
FKGRX
SBPAX
FKGRX vs. SBPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Growth Fund Class A (FKGRX) and Western Asset Pennsylvania Municipals Fund (SBPAX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FKGRX | SBPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.55 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.41 | -1.07 |
| Martin ratioReturn relative to average drawdown | 5.20 | 8.38 | -3.18 |
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Drawdowns
FKGRX vs. SBPAX - Drawdown Comparison
The maximum FKGRX drawdown since its inception was -51.08%, which is greater than SBPAX's maximum drawdown of -15.97%. Use the drawdown chart below to compare losses from any high point for FKGRX and SBPAX.
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Drawdown Indicators
| FKGRX | SBPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.08% | -15.97% | -35.11% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -2.34% | -9.14% |
Max Drawdown (3Y)Largest decline over 3 years | -21.72% | -5.79% | -15.93% |
Max Drawdown (5Y)Largest decline over 5 years | -32.22% | -15.85% | -16.37% |
Max Drawdown (10Y)Largest decline over 10 years | -32.52% | -15.97% | -16.55% |
Current DrawdownCurrent decline from peak | 0.00% | -1.68% | +1.68% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -2.02% | -4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.67% | +2.29% |
Volatility
FKGRX vs. SBPAX - Volatility Comparison
Franklin Growth Fund Class A (FKGRX) has a higher volatility of 4.02% compared to Western Asset Pennsylvania Municipals Fund (SBPAX) at 0.77%. This indicates that FKGRX's price experiences larger fluctuations and is considered to be riskier than SBPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FKGRX | SBPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 0.77% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.97% | 1.91% | +9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.98% | 2.47% | +11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.71% | 3.92% | +15.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 3.84% | +15.71% |
FKGRX vs. SBPAX - Expense Ratio Comparison
FKGRX has a 0.78% expense ratio, which is lower than SBPAX's 0.80% expense ratio.
Dividends
FKGRX vs. SBPAX - Dividend Comparison
FKGRX's dividend yield for the trailing twelve months is around 13.30%, more than SBPAX's 2.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKGRX Franklin Growth Fund Class A | 13.30% | 14.37% | 8.34% | 6.26% | 10.49% | 9.19% | 7.97% | 5.75% | 1.65% | 2.38% | 3.26% | 3.88% |
SBPAX Western Asset Pennsylvania Municipals Fund | 2.45% | 3.51% | 2.80% | 2.48% | 2.08% | 1.82% | 2.40% | 3.13% | 3.36% | 3.51% | 3.63% | 3.63% |
Frequently Asked Questions
FKGRX and SBPAX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKGRX has higher volatility (4.02%) compared to SBPAX (0.77%). In terms of maximum drawdown, FKGRX dropped -51.08% vs SBPAX's -15.97%.
SBPAX currently has the higher Sharpe Ratio (2.29 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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