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 0.78, 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:
-0.65
SPLG:
0.30
PARNX:
-0.80
SPLG:
0.55
PARNX:
0.89
SPLG:
1.08
PARNX:
-0.44
SPLG:
0.30
PARNX:
-1.58
SPLG:
1.37
PARNX:
9.86%
SPLG:
4.10%
PARNX:
23.97%
SPLG:
18.83%
PARNX:
-71.21%
SPLG:
-54.52%
PARNX:
-31.28%
SPLG:
-13.96%
Returns By Period
In the year-to-date period, PARNX achieves a -16.72% return, which is significantly lower than SPLG's -10.02% return. Over the past 10 years, PARNX has underperformed SPLG with an annualized return of 0.74%, while SPLG has yielded a comparatively higher 11.69% annualized return.
PARNX
-16.72%
-10.54%
-24.31%
-15.42%
1.66%
0.74%
SPLG
-10.02%
-7.00%
-9.12%
5.81%
14.70%
11.69%
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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 1.45%.
| 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 | 1.45% | 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 16.67% compared to SPDR Portfolio S&P 500 ETF (SPLG) at 13.59%. 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.