PARMX vs. XMHQ
Compare and contrast key facts about Parnassus Mid Cap Fund (PARMX) and Invesco S&P MidCap Quality ETF (XMHQ).
PARMX is managed by Parnassus. It was launched on Apr 29, 2005. XMHQ is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Dec 1, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARMX or XMHQ.
Correlation
The correlation between PARMX and XMHQ is 0.79, 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. XMHQ - Performance Comparison
Key characteristics
PARMX:
0.58
XMHQ:
1.01
PARMX:
0.86
XMHQ:
1.51
PARMX:
1.11
XMHQ:
1.18
PARMX:
0.37
XMHQ:
1.80
PARMX:
2.29
XMHQ:
4.31
PARMX:
3.47%
XMHQ:
4.29%
PARMX:
13.81%
XMHQ:
18.34%
PARMX:
-51.40%
XMHQ:
-58.19%
PARMX:
-14.40%
XMHQ:
-8.88%
Returns By Period
In the year-to-date period, PARMX achieves a 6.34% return, which is significantly lower than XMHQ's 17.95% return. Over the past 10 years, PARMX has underperformed XMHQ with an annualized return of 4.20%, while XMHQ has yielded a comparatively higher 11.60% annualized return.
PARMX
6.34%
-7.52%
4.37%
7.25%
2.36%
4.20%
XMHQ
17.95%
-2.66%
0.84%
17.02%
15.48%
11.60%
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PARMX vs. XMHQ - Expense Ratio Comparison
PARMX has a 0.96% expense ratio, which is higher than XMHQ's 0.25% expense ratio.
Risk-Adjusted Performance
PARMX vs. XMHQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Fund (PARMX) and Invesco S&P MidCap Quality ETF (XMHQ). 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. XMHQ - Dividend Comparison
PARMX's dividend yield for the trailing twelve months is around 0.34%, less than XMHQ's 4.94% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.34% | 0.37% | 0.01% | 0.03% | 0.19% | 0.51% | 0.76% | 1.49% | 0.38% | 0.70% | 0.72% | 1.04% |
XMHQ Invesco S&P MidCap Quality ETF | 4.94% | 0.73% | 1.72% | 1.00% | 1.12% | 1.22% | 1.59% | 1.06% | 1.64% | 1.34% | 1.25% | 1.11% |
Drawdowns
PARMX vs. XMHQ - Drawdown Comparison
The maximum PARMX drawdown since its inception was -51.40%, smaller than the maximum XMHQ drawdown of -58.19%. Use the drawdown chart below to compare losses from any high point for PARMX and XMHQ. For additional features, visit the drawdowns tool.
Volatility
PARMX vs. XMHQ - Volatility Comparison
Parnassus Mid Cap Fund (PARMX) and Invesco S&P MidCap Quality ETF (XMHQ) have volatilities of 6.20% and 6.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.