PARNX vs. SPLG
Compare and contrast key facts about Parnassus Mid Cap Growth Fund (PARNX) and SPDR Portfolio S&P 500 ETF (SPLG).
PARNX is managed by Parnassus. It was launched on Dec 27, 1984. SPLG is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Nov 15, 2005.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARNX or SPLG.
Correlation
The correlation between PARNX and SPLG is 0.77, 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. SPLG - Performance Comparison
Key characteristics
PARNX:
-0.17
SPLG:
1.47
PARNX:
-0.12
SPLG:
2.00
PARNX:
0.98
SPLG:
1.27
PARNX:
-0.14
SPLG:
2.23
PARNX:
-0.50
SPLG:
9.00
PARNX:
5.89%
SPLG:
2.08%
PARNX:
16.97%
SPLG:
12.79%
PARNX:
-71.21%
SPLG:
-54.52%
PARNX:
-18.09%
SPLG:
-3.07%
Returns By Period
In the year-to-date period, PARNX achieves a -0.73% return, which is significantly lower than SPLG's 1.38% return. Over the past 10 years, PARNX has underperformed SPLG with an annualized return of 2.49%, while SPLG has yielded a comparatively higher 12.97% annualized return.
PARNX
-0.73%
-6.32%
-7.37%
-3.83%
4.04%
2.49%
SPLG
1.38%
-1.29%
6.14%
17.39%
16.51%
12.97%
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PARNX vs. SPLG - Expense Ratio Comparison
PARNX has a 0.80% expense ratio, which is higher than SPLG's 0.03% expense ratio.
Risk-Adjusted Performance
PARNX vs. SPLG — Risk-Adjusted Performance Rank
PARNX
SPLG
PARNX vs. SPLG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Growth Fund (PARNX) and SPDR Portfolio S&P 500 ETF (SPLG). 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. SPLG - Dividend Comparison
PARNX has not paid dividends to shareholders, while SPLG's dividend yield for the trailing twelve months is around 1.26%.
| 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% |
SPLG SPDR Portfolio S&P 500 ETF | 1.26% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% | 1.79% |
Drawdowns
PARNX vs. SPLG - Drawdown Comparison
The maximum PARNX drawdown since its inception was -71.21%, which is greater than SPLG's maximum drawdown of -54.52%. Use the drawdown chart below to compare losses from any high point for PARNX and SPLG. For additional features, visit the drawdowns tool.
Volatility
PARNX vs. SPLG - Volatility Comparison
Parnassus Mid Cap Growth Fund (PARNX) has a higher volatility of 4.52% compared to SPDR Portfolio S&P 500 ETF (SPLG) at 3.64%. This indicates that PARNX's price experiences larger fluctuations and is considered to be riskier than SPLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.