PARNX vs. FSMAX
Compare and contrast key facts about Parnassus Mid Cap Growth Fund (PARNX) and Fidelity Extended Market Index Fund (FSMAX).
PARNX is managed by Parnassus. It was launched on Dec 27, 1984. FSMAX is managed by Fidelity.
Performance
PARNX vs. FSMAX - Performance Comparison
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PARNX vs. FSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PARNX Parnassus Mid Cap Growth Fund | -10.36% | 9.14% | 10.58% | 35.60% | -33.54% | 9.35% | 28.75% | 29.82% | -9.80% | 16.12% |
FSMAX Fidelity Extended Market Index Fund | -4.54% | 11.40% | 16.99% | 25.36% | -26.44% | 12.41% | 32.28% | 28.01% | -9.44% | 18.04% |
Returns By Period
In the year-to-date period, PARNX achieves a -10.36% return, which is significantly lower than FSMAX's -4.54% return. Over the past 10 years, PARNX has underperformed FSMAX with an annualized return of 7.87%, while FSMAX has yielded a comparatively higher 10.54% annualized return.
PARNX
- 1D
- -0.46%
- 1M
- -9.45%
- YTD
- -10.36%
- 6M
- -11.09%
- 1Y
- 8.68%
- 3Y*
- 8.86%
- 5Y*
- 1.11%
- 10Y*
- 7.87%
FSMAX
- 1D
- -1.03%
- 1M
- -7.76%
- YTD
- -4.54%
- 6M
- -4.39%
- 1Y
- 16.77%
- 3Y*
- 13.78%
- 5Y*
- 3.66%
- 10Y*
- 10.54%
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PARNX vs. FSMAX - Expense Ratio Comparison
PARNX has a 0.80% expense ratio, which is higher than FSMAX's 0.04% expense ratio.
Return for Risk
PARNX vs. FSMAX — Risk / Return Rank
PARNX
FSMAX
PARNX vs. FSMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Growth Fund (PARNX) and Fidelity Extended Market Index Fund (FSMAX). 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.
| PARNX | FSMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.34 | 0.72 | -0.38 |
Sortino ratioReturn per unit of downside risk | 0.66 | 1.16 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.16 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.28 | 0.95 | -0.67 |
Martin ratioReturn relative to average drawdown | 0.95 | 3.91 | -2.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PARNX | FSMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 0.72 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.16 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.35 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.41 | +0.01 |
Correlation
The correlation between PARNX and FSMAX 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.
Dividends
PARNX vs. FSMAX - Dividend Comparison
PARNX's dividend yield for the trailing twelve months is around 19.36%, more than FSMAX's 0.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARNX Parnassus Mid Cap Growth Fund | 19.36% | 17.36% | 7.38% | 2.86% | 1.23% | 4.50% | 5.20% | 4.21% | 7.94% | 7.96% | 2.04% | 19.70% |
FSMAX Fidelity Extended Market Index Fund | 0.60% | 0.57% | 0.48% | 1.17% | 1.90% | 7.49% | 2.14% | 4.30% | 6.09% | 5.44% | 4.85% | 6.34% |
Drawdowns
PARNX vs. FSMAX - Drawdown Comparison
The maximum PARNX drawdown since its inception was -54.34%, which is greater than FSMAX's maximum drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for PARNX and FSMAX.
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Drawdown Indicators
| PARNX | FSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.34% | -50.55% | -3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -14.90% | -14.64% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -41.75% | -36.31% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -50.55% | +8.80% |
Current DrawdownCurrent decline from peak | -14.49% | -10.26% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -12.72% | -12.29% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 3.54% | +0.97% |
Volatility
PARNX vs. FSMAX - Volatility Comparison
Parnassus Mid Cap Growth Fund (PARNX) and Fidelity Extended Market Index Fund (FSMAX) have volatilities of 6.14% and 6.01%, 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.
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Volatility by Period
| PARNX | FSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.14% | 6.01% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 13.07% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.84% | 22.79% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.84% | 22.32% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.77% | 30.19% | -8.42% |