PARMX vs. PRBLX

Last updated Aug 5, 2026

PARMX (Parnassus Mid Cap Fund) and PRBLX (Parnassus Core Equity Fund Investor Shares) are both mutual funds - PARMX is a Mid Cap Blend Equities fund managed by Parnassus, while PRBLX is a Large Cap Blend Equities fund actively managed by Parnassus. Over the past 10 years, PARMX returned 8.65%/yr vs 13.71%/yr for PRBLX. Their correlation of 0.91 means they have usually moved in the same direction. PARMX charges 0.96%/yr vs 0.81%/yr for PRBLX.

Performance

PARMX vs. PRBLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parnassus Mid Cap Fund (PARMX) and Parnassus Core Equity Fund Investor Shares (PRBLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PARMX achieves a 7.85% return, which is significantly lower than PRBLX's 10.70% return. Over the past 10 years, PARMX has underperformed PRBLX with an annualized return of 8.65%, while PRBLX has yielded a comparatively higher 13.71% annualized return.

PARMX

• 1D: 0.98%
• 1M: -2.48%
• 6M: 4.08%
• YTD: 7.85%
• 1Y: 11.61%
• 3Y*: 12.88%
• 5Y*: 4.33%
• 10Y*: 8.65%
• ALL TIME*: 8.88%

PRBLX

• 1D: 1.68%
• 1M: 1.86%
• 6M: 10.36%
• YTD: 10.70%
• 1Y: 12.98%
• 3Y*: 16.12%
• 5Y*: 9.86%
• 10Y*: 13.71%
• ALL TIME*: 11.31%

*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)
PARMX Parnassus Mid Cap Fund	$0.00	$0.00	$0.00
PRBLX Parnassus Core Equity Fund Investor Shares	$0.00	$0.00	$0.00

PARMX vs. PRBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PARMX Parnassus Mid Cap Fund	7.85%	12.86%	10.05%	12.66%	-21.41%	16.38%	14.88%	28.74%	-6.67%	15.80%
PRBLX Parnassus Core Equity Fund Investor Shares	10.70%	11.67%	18.58%	24.97%	-18.64%	27.59%	21.21%	30.68%	-0.30%	16.63%

Correlation

The correlation between PARMX and PRBLX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Apr 29, 2005	0.91

The correlation between PARMX and PRBLX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

PARMX vs. PRBLX — Risk / Return Rank

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

PARMX

PARMX Risk / Return Rank: 24
PARMX Sharpe Ratio Rank: 22
PARMX Sortino Ratio Rank: 23
PARMX Omega Ratio Rank: 20
PARMX Calmar Ratio Rank: 26
PARMX Martin Ratio Rank: 30

PRBLX

PRBLX Risk / Return Rank: 30
PRBLX Sharpe Ratio Rank: 33
PRBLX Sortino Ratio Rank: 32
PRBLX Omega Ratio Rank: 30
PRBLX Calmar Ratio Rank: 26
PRBLX Martin Ratio Rank: 31

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.

PARMX vs. PRBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Fund (PARMX) and Parnassus Core Equity Fund Investor Shares (PRBLX). 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.

	PARMX	PRBLX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.15	-0.29
Sortino ratio: Return per unit of downside risk	1.36	1.68	-0.31
Omega ratio: Gain probability vs. loss probability	1.15	1.20	-0.05
Calmar ratio: Return relative to maximum drawdown	1.27	1.28	-0.01
Martin ratio: Return relative to average drawdown	4.80	4.95	-0.15

PARMX vs. PRBLX - Sharpe Ratio Comparison

The current PARMX Sharpe Ratio is 0.87, which is comparable to the PRBLX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of PARMX and PRBLX, 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

PARMX vs. PRBLX - Drawdown Comparison

The maximum PARMX drawdown since its inception was -49.88%, which is greater than PRBLX's maximum drawdown of -42.20%. Use the drawdown chart below to compare losses from any high point for PARMX and PRBLX.

Drawdown Indicators

	PARMX	PRBLX	Difference
Max Drawdown Largest peak-to-trough decline	-49.88%	-42.20%	-7.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-11.63%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-20.73%	-16.31%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	-29.27%	-26.31%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-37.39%	-30.09%	-7.30%
Current Drawdown Current decline from peak	-3.66%	0.00%	-3.66%
Average Drawdown Average peak-to-trough decline	-6.86%	-4.03%	-2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.00%	-0.23%

Volatility

PARMX vs. PRBLX - Volatility Comparison

The current volatility for Parnassus Mid Cap Fund (PARMX) is 3.29%, while Parnassus Core Equity Fund Investor Shares (PRBLX) has a volatility of 4.09%. This indicates that PARMX experiences smaller price fluctuations and is considered to be less risky than PRBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PARMX	PRBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	4.09%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	10.48%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	12.93%	+2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	16.43%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	17.29%	+0.43%

PARMX vs. PRBLX - Expense Ratio Comparison

PARMX has a 0.96% expense ratio, which is higher than PRBLX's 0.81% expense ratio.

Dividends

PARMX vs. PRBLX - Dividend Comparison

PARMX's dividend yield for the trailing twelve months is around 9.50%, less than PRBLX's 17.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PARMX Parnassus Mid Cap Fund	9.50%	10.25%	9.92%	2.29%	4.90%	4.88%	0.36%	4.15%	3.90%	4.19%	2.76%	6.42%
PRBLX Parnassus Core Equity Fund Investor Shares	17.19%	19.08%	10.00%	6.01%	10.13%	7.77%	5.87%	8.02%	9.64%	7.16%	3.80%	9.62%

Frequently Asked Questions

Can I hold both PARMX and PRBLX in my portfolio?

PARMX and PRBLX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PARMX or PRBLX?

PRBLX has higher volatility (4.09%) compared to PARMX (3.29%). In terms of maximum drawdown, PARMX dropped -49.88% vs PRBLX's -42.20%.

Which has better risk-adjusted returns?

PRBLX currently has the higher Sharpe Ratio (1.15 vs 0.87), 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.