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.
Key characteristics
| PARMX | XMHQ | |
|---|---|---|
| YTD Return | 18.42% | 25.99% |
| 1Y Return | 30.37% | 40.22% |
| 3Y Return (Ann) | -1.21% | 11.37% |
| 5Y Return (Ann) | 4.67% | 18.01% |
| 10Y Return (Ann) | 5.44% | 12.61% |
| Sharpe Ratio | 2.46 | 2.35 |
| Sortino Ratio | 3.44 | 3.29 |
| Omega Ratio | 1.42 | 1.39 |
| Calmar Ratio | 1.19 | 4.14 |
| Martin Ratio | 10.22 | 10.18 |
| Ulcer Index | 3.14% | 4.19% |
| Daily Std Dev | 13.03% | 18.13% |
| Max Drawdown | -51.40% | -58.19% |
| Current Drawdown | -4.67% | 0.00% |
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
In the year-to-date period, PARMX achieves a 18.42% return, which is significantly lower than XMHQ's 25.99% return. Over the past 10 years, PARMX has underperformed XMHQ with an annualized return of 5.44%, while XMHQ has yielded a comparatively higher 12.61% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 0.31%, less than XMHQ's 4.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARMX Parnassus Mid Cap Fund | 0.31% | 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 | 4.78% | 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
The current volatility for Parnassus Mid Cap Fund (PARMX) is 3.42%, while Invesco S&P MidCap Quality ETF (XMHQ) has a volatility of 5.51%. This indicates that PARMX experiences smaller price fluctuations and is considered to be less risky than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.