PAGRX vs. MIGYX

Last updated Aug 5, 2026

PAGRX (Permanent Portfolio Aggressive Growth Portfolio Class I) and MIGYX (Invesco Main Street Fund Class Y) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 10 years, PAGRX returned 19.44%/yr vs 11.93%/yr for MIGYX. Their correlation of 0.89 means they have usually moved in the same direction. PAGRX charges 1.10%/yr vs 0.56%/yr for MIGYX.

Performance

PAGRX vs. MIGYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Aggressive Growth Portfolio Class I (PAGRX) and Invesco Main Street Fund Class Y (MIGYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PAGRX having a 8.42% return and MIGYX slightly higher at 8.63%. Over the past 10 years, PAGRX has outperformed MIGYX with an annualized return of 19.44%, while MIGYX has yielded a comparatively lower 11.93% annualized return.

PAGRX

• 1D: 1.25%
• 1M: -1.77%
• 6M: 4.73%
• YTD: 8.42%
• 1Y: 23.90%
• 3Y*: 33.05%
• 5Y*: 17.98%
• 10Y*: 19.44%
• ALL TIME*: 12.20%

MIGYX

• 1D: 1.43%
• 1M: 2.10%
• 6M: 8.70%
• YTD: 8.63%
• 1Y: 15.66%
• 3Y*: 18.25%
• 5Y*: 10.71%
• 10Y*: 11.93%
• ALL TIME*: 8.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MIGYX Invesco Main Street Fund Class Y	$0.00	$0.00	$0.00
PAGRX Permanent Portfolio Aggressive Growth Portfolio Class I	$0.00	$0.00	$0.00

PAGRX vs. MIGYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGRX Permanent Portfolio Aggressive Growth Portfolio Class I	8.42%	36.92%	44.52%	38.73%	-26.06%	24.84%	37.65%	40.34%	-12.41%	21.19%
MIGYX Invesco Main Street Fund Class Y	8.63%	16.31%	23.93%	23.33%	-20.02%	27.65%	14.68%	22.67%	-8.04%	17.04%

Correlation

The correlation between PAGRX and MIGYX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Oct 31, 1996	0.89

The correlation between PAGRX and MIGYX shifts across timeframes, from 0.72 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PAGRX vs. MIGYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PAGRX

PAGRX Risk / Return Rank: 55
PAGRX Sharpe Ratio Rank: 48
PAGRX Sortino Ratio Rank: 45
PAGRX Omega Ratio Rank: 43
PAGRX Calmar Ratio Rank: 82
PAGRX Martin Ratio Rank: 58

MIGYX

MIGYX Risk / Return Rank: 43
MIGYX Sharpe Ratio Rank: 44
MIGYX Sortino Ratio Rank: 45
MIGYX Omega Ratio Rank: 40
MIGYX Calmar Ratio Rank: 38
MIGYX Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PAGRX vs. MIGYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Aggressive Growth Portfolio Class I (PAGRX) and Invesco Main Street Fund Class Y (MIGYX). 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.

	PAGRX	MIGYX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.48	-0.01
Sortino ratio: Return per unit of downside risk	2.05	2.17	-0.12
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.89	1.81	+1.08
Martin ratio: Return relative to average drawdown	8.34	7.20	+1.14

PAGRX vs. MIGYX - Sharpe Ratio Comparison

The current PAGRX Sharpe Ratio is 1.47, which is comparable to the MIGYX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of PAGRX and MIGYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAGRX vs. MIGYX - Drawdown Comparison

The maximum PAGRX drawdown since its inception was -55.87%, roughly equal to the maximum MIGYX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for PAGRX and MIGYX.

Drawdown Indicators

	PAGRX	MIGYX	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-56.98%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-10.87%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-26.34%	-19.88%	-6.46%
Max Drawdown (5Y) Largest decline over 5 years	-36.52%	-26.59%	-9.93%
Max Drawdown (10Y) Largest decline over 10 years	-38.01%	-35.48%	-2.53%
Current Drawdown Current decline from peak	-6.80%	0.00%	-6.80%
Average Drawdown Average peak-to-trough decline	-10.03%	-10.56%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	2.59%	+0.58%

Volatility

PAGRX vs. MIGYX - Volatility Comparison

Permanent Portfolio Aggressive Growth Portfolio Class I (PAGRX) has a higher volatility of 4.33% compared to Invesco Main Street Fund Class Y (MIGYX) at 3.77%. This indicates that PAGRX's price experiences larger fluctuations and is considered to be riskier than MIGYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGRX	MIGYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	3.77%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	10.20%	+3.61%
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	13.29%	+4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	17.05%	+7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	17.93%	+6.56%

PAGRX vs. MIGYX - Expense Ratio Comparison

PAGRX has a 1.10% expense ratio, which is higher than MIGYX's 0.56% expense ratio.

Dividends

PAGRX vs. MIGYX - Dividend Comparison

PAGRX's dividend yield for the trailing twelve months is around 0.03%, less than MIGYX's 7.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIGYX Invesco Main Street Fund Class Y	7.20%	7.82%	6.36%	7.51%	5.01%	19.63%	3.23%	0.98%	20.13%	7.80%	3.22%	14.18%
PAGRX Permanent Portfolio Aggressive Growth Portfolio Class I	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 MIGYX in my portfolio?

PAGRX and MIGYX have a correlation of 0.72, 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 MIGYX?

PAGRX has higher volatility (4.33%) compared to MIGYX (3.77%). In terms of maximum drawdown, PAGRX dropped -55.87% vs MIGYX's -56.98%.

Which has better risk-adjusted returns?

MIGYX currently has the higher Sharpe Ratio (1.48 vs 1.47), 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.