PARMX vs. SPY
Compare and contrast key facts about Parnassus Mid Cap Fund (PARMX) and SPDR S&P 500 ETF (SPY).
PARMX is managed by Parnassus. It was launched on Apr 29, 2005. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARMX or SPY.
Correlation
The correlation between PARMX and SPY is 0.89, 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. SPY - Performance Comparison
Key characteristics
PARMX:
0.43
SPY:
2.20
PARMX:
0.66
SPY:
2.91
PARMX:
1.09
SPY:
1.41
PARMX:
0.30
SPY:
3.35
PARMX:
1.15
SPY:
13.99
PARMX:
5.40%
SPY:
2.01%
PARMX:
14.31%
SPY:
12.79%
PARMX:
-51.40%
SPY:
-55.19%
PARMX:
-16.59%
SPY:
-1.35%
Returns By Period
In the year-to-date period, PARMX achieves a 2.97% return, which is significantly higher than SPY's 1.96% return. Over the past 10 years, PARMX has underperformed SPY with an annualized return of 4.00%, while SPY has yielded a comparatively higher 13.29% annualized return.
PARMX
2.97%
1.82%
-2.66%
4.12%
1.31%
4.00%
SPY
1.96%
1.09%
8.43%
25.46%
14.30%
13.29%
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PARMX vs. SPY - Expense Ratio Comparison
PARMX has a 0.96% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PARMX vs. SPY — Risk-Adjusted Performance Rank
PARMX
SPY
PARMX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Fund (PARMX) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
PARMX's dividend yield for the trailing twelve months is around 0.20%, less than SPY's 1.18% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.20% | 0.21% | 0.37% | 0.01% | 0.03% | 0.19% | 0.51% | 0.76% | 1.49% | 0.38% | 0.70% | 0.72% |
SPY SPDR S&P 500 ETF | 1.18% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
PARMX vs. SPY - Drawdown Comparison
The maximum PARMX drawdown since its inception was -51.40%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PARMX and SPY. For additional features, visit the drawdowns tool.
Volatility
PARMX vs. SPY - Volatility Comparison
Parnassus Mid Cap Fund (PARMX) has a higher volatility of 6.06% compared to SPDR S&P 500 ETF (SPY) at 5.10%. This indicates that PARMX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.