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:
0.28
SPY:
2.21
PARMX:
0.46
SPY:
2.93
PARMX:
1.06
SPY:
1.41
PARMX:
0.18
SPY:
3.26
PARMX:
1.08
SPY:
14.43
PARMX:
3.68%
SPY:
1.90%
PARMX:
14.22%
SPY:
12.41%
PARMX:
-51.40%
SPY:
-55.19%
PARMX:
-18.24%
SPY:
-2.74%
Returns By Period
In the year-to-date period, PARMX achieves a 1.56% return, which is significantly lower than SPY's 25.54% return. Over the past 10 years, PARMX has underperformed SPY with an annualized return of 3.66%, while SPY has yielded a comparatively higher 12.97% annualized return.
PARMX
1.56%
-11.82%
-0.55%
2.60%
1.42%
3.66%
SPY
25.54%
-0.42%
8.90%
25.98%
14.66%
12.97%
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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 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 has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.86%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.00% | 0.37% | 0.01% | 0.03% | 0.19% | 0.51% | 0.76% | 1.49% | 0.38% | 0.70% | 0.72% | 1.04% |
SPY SPDR S&P 500 ETF | 0.86% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
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 6.94% compared to SPDR S&P 500 ETF (SPY) at 3.72%. 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.