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:
0.24
XMHQ:
1.00
PARMX:
0.42
XMHQ:
1.50
PARMX:
1.05
XMHQ:
1.18
PARMX:
0.16
XMHQ:
1.78
PARMX:
0.66
XMHQ:
3.78
PARMX:
5.29%
XMHQ:
4.84%
PARMX:
14.33%
XMHQ:
18.26%
PARMX:
-51.40%
XMHQ:
-58.19%
PARMX:
-17.88%
XMHQ:
-8.82%
Returns By Period
In the year-to-date period, PARMX achieves a 1.58% return, which is significantly higher than XMHQ's 1.06% return. Over the past 10 years, PARMX has underperformed XMHQ with an annualized return of 4.00%, while XMHQ has yielded a comparatively higher 11.88% annualized return.
PARMX
1.58%
-7.61%
-3.75%
3.85%
0.96%
4.00%
XMHQ
1.06%
-5.88%
-3.31%
17.85%
15.00%
11.88%
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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 Rank
PARMX
XMHQ
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 has not paid dividends to shareholders, while XMHQ's dividend yield for the trailing twelve months is around 5.14%.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.00% | 0.00% | 0.37% | 0.01% | 0.03% | 0.19% | 0.51% | 0.76% | 1.49% | 0.38% | 0.70% | 0.72% |
XMHQ Invesco S&P MidCap Quality ETF | 5.14% | 5.20% | 0.73% | 1.72% | 1.00% | 1.12% | 1.22% | 1.59% | 1.06% | 1.64% | 1.34% | 1.25% |
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) has a higher volatility of 5.95% compared to Invesco S&P MidCap Quality ETF (XMHQ) at 5.52%. This indicates that PARMX's price experiences larger fluctuations and is considered to be riskier than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.