PARNX vs. VGT
Compare and contrast key facts about Parnassus Mid Cap Growth Fund (PARNX) and Vanguard Information Technology ETF (VGT).
PARNX is managed by Parnassus. It was launched on Dec 27, 1984. VGT is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Information Technology 25/50 Index. It was launched on Jan 26, 2004.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PARNX or VGT.
Performance
PARNX vs. VGT - Performance Comparison
Returns By Period
In the year-to-date period, PARNX achieves a 12.43% return, which is significantly lower than VGT's 27.15% return. Over the past 10 years, PARNX has underperformed VGT with an annualized return of 3.51%, while VGT has yielded a comparatively higher 20.69% annualized return.
PARNX
12.43%
-1.28%
5.99%
22.92%
5.57%
3.51%
VGT
27.15%
1.43%
13.73%
33.30%
22.49%
20.69%
Key characteristics
| PARNX | VGT | |
|---|---|---|
| Sharpe Ratio | 1.58 | 1.67 |
| Sortino Ratio | 2.19 | 2.20 |
| Omega Ratio | 1.27 | 1.30 |
| Calmar Ratio | 0.90 | 2.31 |
| Martin Ratio | 8.02 | 8.30 |
| Ulcer Index | 3.03% | 4.24% |
| Daily Std Dev | 15.36% | 21.02% |
| Max Drawdown | -71.21% | -54.63% |
| Current Drawdown | -10.32% | -2.14% |
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PARNX vs. VGT - Expense Ratio Comparison
PARNX has a 0.80% expense ratio, which is higher than VGT's 0.10% expense ratio.
Correlation
The correlation between PARNX and VGT is 0.84, 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.
Risk-Adjusted Performance
PARNX vs. VGT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Mid Cap Growth Fund (PARNX) and Vanguard Information Technology ETF (VGT). 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. VGT - Dividend Comparison
PARNX has not paid dividends to shareholders, while VGT's dividend yield for the trailing twelve months is around 0.61%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARNX Parnassus Mid Cap Growth Fund | 0.00% | 0.00% | 0.00% | 1.45% | 0.09% | 2.53% | 1.32% | 0.93% | 0.81% | 4.40% | 3.37% | 4.24% |
VGT Vanguard Information Technology ETF | 0.61% | 0.65% | 0.91% | 0.64% | 0.82% | 1.11% | 1.29% | 0.99% | 1.31% | 1.28% | 1.12% | 1.05% |
Drawdowns
PARNX vs. VGT - Drawdown Comparison
The maximum PARNX drawdown since its inception was -71.21%, which is greater than VGT's maximum drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for PARNX and VGT. For additional features, visit the drawdowns tool.
Volatility
PARNX vs. VGT - Volatility Comparison
The current volatility for Parnassus Mid Cap Growth Fund (PARNX) is 4.68%, while Vanguard Information Technology ETF (VGT) has a volatility of 6.62%. This indicates that PARNX experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.