PGGAX vs. GWPAX

Last updated Jun 5, 2026

PGGAX (American Funds Global Growth Portfolio Class A) and GWPAX (American Funds Growth Portfolio Class A) are both mutual funds - PGGAX is a Global Equities fund actively managed by American Funds, while GWPAX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, PGGAX returned 12.47%/yr vs 13.29%/yr for GWPAX. With a 0.98 correlation, they move nearly in lockstep. PGGAX charges 0.78%/yr vs 0.73%/yr for GWPAX.

Performance

PGGAX vs. GWPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Global Growth Portfolio Class A (PGGAX) and American Funds Growth Portfolio Class A (GWPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGGAX achieves a 12.39% return, which is significantly higher than GWPAX's 10.57% return. Over the past 10 years, PGGAX has underperformed GWPAX with an annualized return of 12.47%, while GWPAX has yielded a comparatively higher 13.29% annualized return.

PGGAX

• 1D: -0.64%
• 1M: 4.78%
• YTD: 12.39%
• 6M: 13.34%
• 1Y: 28.98%
• 3Y*: 20.60%
• 5Y*: 8.88%
• 10Y*: 12.47%

GWPAX

• 1D: -0.65%
• 1M: 4.17%
• YTD: 10.57%
• 6M: 10.89%
• 1Y: 26.71%
• 3Y*: 21.90%
• 5Y*: 10.30%
• 10Y*: 13.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PGGAX vs. GWPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGGAX American Funds Global Growth Portfolio Class A	12.39%	23.05%	14.85%	24.09%	-25.77%	12.98%	27.38%	27.93%	-8.97%	28.63%
GWPAX American Funds Growth Portfolio Class A	10.57%	20.47%	20.17%	28.76%	-26.97%	18.59%	25.34%	27.19%	-6.59%	25.12%

Correlation

The correlation between PGGAX and GWPAX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.98

The correlation between PGGAX and GWPAX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

PGGAX vs. GWPAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PGGAX

PGGAX Risk / Return Rank: 53
PGGAX Sharpe Ratio Rank: 53
PGGAX Sortino Ratio Rank: 50
PGGAX Omega Ratio Rank: 51
PGGAX Calmar Ratio Rank: 50
PGGAX Martin Ratio Rank: 61

GWPAX

GWPAX Risk / Return Rank: 43
GWPAX Sharpe Ratio Rank: 43
GWPAX Sortino Ratio Rank: 40
GWPAX Omega Ratio Rank: 42
GWPAX Calmar Ratio Rank: 38
GWPAX Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PGGAX vs. GWPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Global Growth Portfolio Class A (PGGAX) and American Funds Growth Portfolio Class A (GWPAX). 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.

	PGGAX	GWPAX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.92	+0.17
Sortino ratio: Return per unit of downside risk	2.91	2.67	+0.24
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	2.64	2.33	+0.31
Martin ratio: Return relative to average drawdown	11.71	10.27	+1.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGGAX vs. GWPAX - Sharpe Ratio Comparison

The current PGGAX Sharpe Ratio is 2.09, which is comparable to the GWPAX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of PGGAX and GWPAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PGGAX	GWPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.92	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.57	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.74	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.75	0.00

Drawdowns

PGGAX vs. GWPAX - Drawdown Comparison

The maximum PGGAX drawdown since its inception was -34.41%, roughly equal to the maximum GWPAX drawdown of -34.15%. Use the drawdown chart below to compare losses from any high point for PGGAX and GWPAX.

Drawdown Indicators

	PGGAX	GWPAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-34.15%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-11.78%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-17.99%	-19.42%	+1.43%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-34.15%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.41%	-34.15%	-0.26%
Current Drawdown Current decline from peak	-0.64%	-0.65%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.91%	-5.72%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.66%	-0.12%

Volatility

PGGAX vs. GWPAX - Volatility Comparison

American Funds Global Growth Portfolio Class A (PGGAX) has a higher volatility of 4.52% compared to American Funds Growth Portfolio Class A (GWPAX) at 3.92%. This indicates that PGGAX's price experiences larger fluctuations and is considered to be riskier than GWPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGGAX	GWPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	3.92%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.57%	11.22%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	14.26%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	18.23%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	18.02%	-0.74%

PGGAX vs. GWPAX - Expense Ratio Comparison

PGGAX has a 0.78% expense ratio, which is higher than GWPAX's 0.73% expense ratio.

Dividends

PGGAX vs. GWPAX - Dividend Comparison

PGGAX's dividend yield for the trailing twelve months is around 4.99%, less than GWPAX's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWPAX American Funds Growth Portfolio Class A	5.20%	5.75%	5.83%	1.61%	9.94%	3.42%	3.42%	5.77%	6.19%	3.39%	4.36%	4.84%
PGGAX American Funds Global Growth Portfolio Class A	4.99%	5.61%	4.31%	0.95%	7.97%	3.34%	0.78%	4.90%	5.69%	6.22%	3.70%	3.98%

Frequently Asked Questions

Can I hold both PGGAX and GWPAX in my portfolio?

With a correlation of 0.98, PGGAX and GWPAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PGGAX or GWPAX?

PGGAX has higher volatility (4.52%) compared to GWPAX (3.92%). In terms of maximum drawdown, PGGAX dropped -34.41% vs GWPAX's -34.15%.

Which has better risk-adjusted returns?

PGGAX currently has the higher Sharpe Ratio (2.09 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.