PARNX vs. FSMDX
Compare and contrast key facts about Parnassus Mid Cap Growth Fund (PARNX) and Fidelity Mid Cap Index Fund (FSMDX).
PARNX is managed by Parnassus. It was launched on Dec 27, 1984. FSMDX is managed by Fidelity. It was launched on Sep 8, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARNX or FSMDX.
Correlation
The correlation between PARNX and FSMDX is 0.88, 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
PARNX vs. FSMDX - Performance Comparison
Key characteristics
PARNX:
0.49
FSMDX:
1.47
PARNX:
0.75
FSMDX:
2.04
PARNX:
1.10
FSMDX:
1.26
PARNX:
0.39
FSMDX:
2.16
PARNX:
1.65
FSMDX:
6.22
PARNX:
5.04%
FSMDX:
3.14%
PARNX:
17.06%
FSMDX:
13.38%
PARNX:
-71.21%
FSMDX:
-40.35%
PARNX:
-12.62%
FSMDX:
-3.47%
Returns By Period
In the year-to-date period, PARNX achieves a 5.90% return, which is significantly higher than FSMDX's 5.09% return. Over the past 10 years, PARNX has underperformed FSMDX with an annualized return of 3.80%, while FSMDX has yielded a comparatively higher 9.03% annualized return.
PARNX
5.90%
5.90%
4.23%
10.87%
4.14%
3.80%
FSMDX
5.09%
5.09%
10.60%
21.58%
10.15%
9.03%
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PARNX vs. FSMDX - Expense Ratio Comparison
PARNX has a 0.80% expense ratio, which is higher than FSMDX's 0.03% expense ratio.
Risk-Adjusted Performance
PARNX vs. FSMDX — Risk-Adjusted Performance Rank
PARNX
FSMDX
PARNX vs. FSMDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Growth Fund (PARNX) and Fidelity Mid Cap Index Fund (FSMDX). 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
PARNX vs. FSMDX - Dividend Comparison
PARNX has not paid dividends to shareholders, while FSMDX's dividend yield for the trailing twelve months is around 1.11%.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARNX Parnassus Mid Cap Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 1.45% | 0.09% | 2.53% | 1.32% | 0.93% | 0.81% | 4.40% | 3.37% |
FSMDX Fidelity Mid Cap Index Fund | 1.11% | 1.17% | 1.39% | 1.59% | 1.10% | 1.37% | 1.42% | 1.85% | 1.32% | 1.35% | 2.29% | 3.82% |
Drawdowns
PARNX vs. FSMDX - Drawdown Comparison
The maximum PARNX drawdown since its inception was -71.21%, which is greater than FSMDX's maximum drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for PARNX and FSMDX. For additional features, visit the drawdowns tool.
Volatility
PARNX vs. FSMDX - Volatility Comparison
Parnassus Mid Cap Growth Fund (PARNX) has a higher volatility of 4.51% compared to Fidelity Mid Cap Index Fund (FSMDX) at 3.68%. This indicates that PARNX's price experiences larger fluctuations and is considered to be riskier than FSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.