PAGRX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and S&P 500 Index (^GSPC).

PAGRX is managed by Permanent Portfolio. It was launched on Jan 2, 1990.

Performance

PAGRX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

PAGRX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGRX Permanent Portfolio Aggressive Growth Portfolio	-0.28%	36.92%	44.52%	38.73%	-26.06%	24.84%	37.65%	40.34%	-12.41%	21.19%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, PAGRX achieves a -0.28% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, PAGRX has outperformed ^GSPC with an annualized return of 19.12%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

PAGRX

• 1D: 3.71%
• 1M: -5.53%
• YTD: -0.28%
• 6M: 4.30%
• 1Y: 43.96%
• 3Y*: 35.66%
• 5Y*: 17.52%
• 10Y*: 19.12%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PAGRX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAGRX

PAGRX Risk / Return Rank: 91
PAGRX Sharpe Ratio Rank: 87
PAGRX Sortino Ratio Rank: 89
PAGRX Omega Ratio Rank: 86
PAGRX Calmar Ratio Rank: 94
PAGRX Martin Ratio Rank: 97

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PAGRX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and S&P 500 Index (^GSPC). 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.

	PAGRX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.74	0.92	+0.83
Sortino ratio Return per unit of downside risk	2.49	1.41	+1.07
Omega ratio Gain probability vs. loss probability	1.37	1.21	+0.15
Calmar ratio Return relative to maximum drawdown	3.21	1.41	+1.80
Martin ratio Return relative to average drawdown	16.28	6.61	+9.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAGRX vs. ^GSPC - Sharpe Ratio Comparison

The current PAGRX Sharpe Ratio is 1.74, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of PAGRX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAGRX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	0.92	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.61	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.68	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.46	+0.07

Correlation

The correlation between PAGRX and ^GSPC is 0.88, 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.

Drawdowns

PAGRX vs. ^GSPC - Drawdown Comparison

The maximum PAGRX drawdown since its inception was -55.87%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PAGRX and ^GSPC.

Drawdown Indicators

	PAGRX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-56.78%	+0.91%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-12.14%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-36.52%	-25.43%	-11.09%
Max Drawdown (10Y) Largest decline over 10 years	-38.01%	-33.92%	-4.09%
Current Drawdown Current decline from peak	-5.77%	-5.78%	+0.01%
Average Drawdown Average peak-to-trough decline	-10.09%	-10.75%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.60%	+0.13%

Volatility

PAGRX vs. ^GSPC - Volatility Comparison

Permanent Portfolio Aggressive Growth Portfolio (PAGRX) has a higher volatility of 6.77% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that PAGRX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGRX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.77%	5.37%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	13.91%	9.55%	+4.36%
Volatility (1Y) Calculated over the trailing 1-year period	25.69%	18.33%	+7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	16.90%	+7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	18.05%	+6.44%