PARMX vs. ADJEX
Compare and contrast key facts about Parnassus Mid Cap Fund (PARMX) and Azzad Ethical Fund (ADJEX).
PARMX is managed by Parnassus. It was launched on Apr 29, 2005. ADJEX is managed by Azzad Fund. It was launched on Dec 22, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARMX or ADJEX.
Key characteristics
| PARMX | ADJEX | |
|---|---|---|
| YTD Return | 18.42% | 8.13% |
| 1Y Return | 30.37% | 23.11% |
| 3Y Return (Ann) | -1.21% | -7.00% |
| 5Y Return (Ann) | 4.67% | 3.37% |
| 10Y Return (Ann) | 5.44% | 3.36% |
| Sharpe Ratio | 2.46 | 1.40 |
| Sortino Ratio | 3.44 | 2.00 |
| Omega Ratio | 1.42 | 1.24 |
| Calmar Ratio | 1.19 | 0.71 |
| Martin Ratio | 10.22 | 5.59 |
| Ulcer Index | 3.14% | 4.48% |
| Daily Std Dev | 13.03% | 17.77% |
| Max Drawdown | -51.40% | -57.92% |
| Current Drawdown | -4.67% | -20.15% |
Correlation
The correlation between PARMX and ADJEX is 0.85, 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.
Performance
PARMX vs. ADJEX - Performance Comparison
In the year-to-date period, PARMX achieves a 18.42% return, which is significantly higher than ADJEX's 8.13% return. Over the past 10 years, PARMX has outperformed ADJEX with an annualized return of 5.44%, while ADJEX has yielded a comparatively lower 3.36% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PARMX vs. ADJEX - Expense Ratio Comparison
PARMX has a 0.96% expense ratio, which is lower than ADJEX's 0.99% expense ratio.
Risk-Adjusted Performance
PARMX vs. ADJEX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Fund (PARMX) and Azzad Ethical Fund (ADJEX). 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.
Dividends
PARMX vs. ADJEX - Dividend Comparison
PARMX's dividend yield for the trailing twelve months is around 0.31%, while ADJEX has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.31% | 0.37% | 0.01% | 0.03% | 0.19% | 0.51% | 0.76% | 1.49% | 0.38% | 0.70% | 0.72% | 1.04% |
ADJEX Azzad Ethical Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.00% | 9.18% | 11.64% |
Drawdowns
PARMX vs. ADJEX - Drawdown Comparison
The maximum PARMX drawdown since its inception was -51.40%, smaller than the maximum ADJEX drawdown of -57.92%. Use the drawdown chart below to compare losses from any high point for PARMX and ADJEX. For additional features, visit the drawdowns tool.
Volatility
PARMX vs. ADJEX - Volatility Comparison
The current volatility for Parnassus Mid Cap Fund (PARMX) is 3.42%, while Azzad Ethical Fund (ADJEX) has a volatility of 4.74%. This indicates that PARMX experiences smaller price fluctuations and is considered to be less risky than ADJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.