PAGRX vs. MGK

Last updated Jun 3, 2026

PAGRX (Permanent Portfolio Aggressive Growth Portfolio) and MGK (Vanguard Mega Cap Growth ETF) are both funds - PAGRX is a Large Cap Blend Equities fund managed by Permanent Portfolio, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Over the past 10 years, PAGRX returned 20.76%/yr vs 19.37%/yr for MGK. Their correlation of 0.87 suggests significant overlap in exposure. PAGRX charges 1.21%/yr vs 0.05%/yr for MGK.

Performance

PAGRX vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAGRX achieves a 16.32% return, which is significantly higher than MGK's 11.27% return. Over the past 10 years, PAGRX has outperformed MGK with an annualized return of 20.76%, while MGK has yielded a comparatively lower 19.37% annualized return.

PAGRX

• 1D: 2.24%
• 1M: 8.43%
• YTD: 16.32%
• 6M: 20.90%
• 1Y: 45.28%
• 3Y*: 40.95%
• 5Y*: 19.63%
• 10Y*: 20.76%

MGK

• 1D: -0.30%
• 1M: 8.29%
• YTD: 11.27%
• 6M: 10.68%
• 1Y: 32.46%
• 3Y*: 27.25%
• 5Y*: 16.84%
• 10Y*: 19.37%

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

PAGRX vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGRX Permanent Portfolio Aggressive Growth Portfolio	16.32%	36.92%	44.52%	38.73%	-26.06%	24.84%	37.65%	40.34%	-12.41%	21.19%
MGK Vanguard Mega Cap Growth ETF	11.27%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between PAGRX and MGK is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Dec 28, 2007	0.87

The correlation between PAGRX and MGK shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PAGRX vs. MGK — Risk / Return Rank

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

PAGRX

PAGRX Risk / Return Rank: 83
PAGRX Sharpe Ratio Rank: 85
PAGRX Sortino Ratio Rank: 73
PAGRX Omega Ratio Rank: 69
PAGRX Calmar Ratio Rank: 93
PAGRX Martin Ratio Rank: 95

MGK

MGK Risk / Return Rank: 51
MGK Sharpe Ratio Rank: 59
MGK Sortino Ratio Rank: 56
MGK Omega Ratio Rank: 56
MGK Calmar Ratio Rank: 40
MGK Martin Ratio Rank: 43

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. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and Vanguard Mega Cap Growth ETF (MGK). 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	MGK	Difference
Sharpe ratio Return per unit of total volatility	2.72	2.02	+0.71
Sortino ratio Return per unit of downside risk	3.57	2.71	+0.86
Omega ratio Gain probability vs. loss probability	1.46	1.35	+0.12
Calmar ratio Return relative to maximum drawdown	5.16	2.00	+3.16
Martin ratio Return relative to average drawdown	22.07	6.90	+15.17
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. MGK - Sharpe Ratio Comparison

The current PAGRX Sharpe Ratio is 2.72, which is higher than the MGK Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of PAGRX and MGK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PAGRX	MGK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.02	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.75	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.89	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.66	-0.11

Drawdowns

PAGRX vs. MGK - Drawdown Comparison

The maximum PAGRX drawdown since its inception was -55.87%, which is greater than MGK's maximum drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for PAGRX and MGK.

Drawdown Indicators

	PAGRX	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-47.97%	-7.90%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-16.85%	+7.71%
Max Drawdown (3Y) Largest decline over 3 years	-26.34%	-23.36%	-2.98%
Max Drawdown (5Y) Largest decline over 5 years	-36.52%	-36.01%	-0.51%
Max Drawdown (10Y) Largest decline over 10 years	-38.01%	-36.01%	-2.00%
Current Drawdown Current decline from peak	0.00%	-0.30%	+0.30%
Average Drawdown Average peak-to-trough decline	-10.05%	-7.47%	-2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	4.89%	-2.75%

Volatility

PAGRX vs. MGK - Volatility Comparison

Permanent Portfolio Aggressive Growth Portfolio (PAGRX) has a higher volatility of 4.68% compared to Vanguard Mega Cap Growth ETF (MGK) at 3.75%. This indicates that PAGRX's price experiences larger fluctuations and is considered to be riskier than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGRX	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	3.75%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	12.32%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	17.20%	16.20%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.45%	22.63%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.52%	21.88%	+2.64%

PAGRX vs. MGK - Expense Ratio Comparison

PAGRX has a 1.21% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

PAGRX vs. MGK - Dividend Comparison

PAGRX's dividend yield for the trailing twelve months is around 0.03%, less than MGK's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.31%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
PAGRX Permanent Portfolio Aggressive Growth Portfolio	0.03%	0.03%	5.62%	2.72%	7.79%	6.82%	15.08%	17.51%	12.33%	8.70%	16.94%	6.31%

Frequently Asked Questions

Can I hold both PAGRX and MGK in my portfolio?

PAGRX and MGK have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAGRX or MGK?

PAGRX has higher volatility (4.68%) compared to MGK (3.75%). In terms of maximum drawdown, PAGRX dropped -55.87% vs MGK's -47.97%.

Which has better risk-adjusted returns?

PAGRX currently has the higher Sharpe Ratio (2.72 vs 2.02), 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.