PGOFX vs. LCLAX

Last updated Aug 4, 2026

PGOFX (Pioneer Select Mid Cap Growth Fund) and LCLAX (ClearBridge Select Fund Class A) are both Mid Cap Growth Equities funds. Over the past 10 years, PGOFX returned 13.23%/yr vs 15.95%/yr for LCLAX. Their correlation of 0.92 means they have usually moved in the same direction. PGOFX charges 0.99%/yr vs 1.10%/yr for LCLAX.

Performance

PGOFX vs. LCLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Select Mid Cap Growth Fund (PGOFX) and ClearBridge Select Fund Class A (LCLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGOFX achieves a 16.18% return, which is significantly higher than LCLAX's 3.04% return. Over the past 10 years, PGOFX has underperformed LCLAX with an annualized return of 13.23%, while LCLAX has yielded a comparatively higher 15.95% annualized return.

PGOFX

• 1D: -0.12%
• 1M: -5.29%
• 6M: 11.09%
• YTD: 16.18%
• 1Y: 23.94%
• 3Y*: 21.32%
• 5Y*: 6.42%
• 10Y*: 13.23%
• ALL TIME*: 10.38%

LCLAX

• 1D: -0.32%
• 1M: -1.79%
• 6M: 3.51%
• YTD: 3.04%
• 1Y: 7.06%
• 3Y*: 11.02%
• 5Y*: 2.13%
• 10Y*: 15.95%
• ALL TIME*: 13.35%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LCLAX ClearBridge Select Fund Class A	$0.00	$0.00	$0.00
PGOFX Pioneer Select Mid Cap Growth Fund	$0.00	$0.00	$0.00

PGOFX vs. LCLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGOFX Pioneer Select Mid Cap Growth Fund	16.18%	20.66%	23.84%	18.66%	-31.26%	8.06%	38.86%	32.73%	-5.77%	29.88%
LCLAX ClearBridge Select Fund Class A	3.04%	6.87%	21.13%	23.82%	-33.28%	19.86%	58.29%	33.03%	10.18%	38.69%

Correlation

The correlation between PGOFX and LCLAX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.92

The correlation between PGOFX and LCLAX shifts across timeframes, from 0.82 (1 year) to 0.93 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PGOFX vs. LCLAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PGOFX

PGOFX Risk / Return Rank: 34
PGOFX Sharpe Ratio Rank: 27
PGOFX Sortino Ratio Rank: 27
PGOFX Omega Ratio Rank: 25
PGOFX Calmar Ratio Rank: 49
PGOFX Martin Ratio Rank: 45

LCLAX

LCLAX Risk / Return Rank: 8
LCLAX Sharpe Ratio Rank: 9
LCLAX Sortino Ratio Rank: 9
LCLAX Omega Ratio Rank: 8
LCLAX Calmar Ratio Rank: 8
LCLAX Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PGOFX vs. LCLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Select Mid Cap Growth Fund (PGOFX) and ClearBridge Select Fund Class A (LCLAX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PGOFX	LCLAX	Difference
Sharpe ratio: Return per unit of total volatility	0.99	0.36	+0.63
Sortino ratio: Return per unit of downside risk	1.46	0.60	+0.87
Omega ratio: Gain probability vs. loss probability	1.17	1.07	+0.10
Calmar ratio: Return relative to maximum drawdown	1.98	0.38	+1.60
Martin ratio: Return relative to average drawdown	6.86	1.16	+5.70

PGOFX vs. LCLAX - Sharpe Ratio Comparison

The current PGOFX Sharpe Ratio is 0.99, which is higher than the LCLAX Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of PGOFX and LCLAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PGOFX vs. LCLAX - Drawdown Comparison

The maximum PGOFX drawdown since its inception was -62.17%, which is greater than LCLAX's maximum drawdown of -43.64%. Use the drawdown chart below to compare losses from any high point for PGOFX and LCLAX.

Drawdown Indicators

	PGOFX	LCLAX	Difference
Max Drawdown Largest peak-to-trough decline	-62.17%	-43.64%	-18.53%
Max Drawdown (1Y) Largest decline over 1 year	-10.96%	-14.36%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	-28.15%	-23.75%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	-39.78%	-43.64%	+3.86%
Max Drawdown (10Y) Largest decline over 10 years	-39.78%	-43.64%	+3.86%
Current Drawdown Current decline from peak	-7.92%	-2.48%	-5.44%
Average Drawdown Average peak-to-trough decline	-11.66%	-9.98%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	4.73%	-1.57%

Volatility

PGOFX vs. LCLAX - Volatility Comparison

Pioneer Select Mid Cap Growth Fund (PGOFX) has a higher volatility of 7.57% compared to ClearBridge Select Fund Class A (LCLAX) at 2.94%. This indicates that PGOFX's price experiences larger fluctuations and is considered to be riskier than LCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGOFX	LCLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	2.94%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	17.71%	11.89%	+5.82%
Volatility (1Y) Calculated over the trailing 1-year period	21.89%	15.24%	+6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	21.81%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	21.83%	+1.39%

PGOFX vs. LCLAX - Expense Ratio Comparison

PGOFX has a 0.99% expense ratio, which is lower than LCLAX's 1.10% expense ratio.

Dividends

PGOFX vs. LCLAX - Dividend Comparison

PGOFX's dividend yield for the trailing twelve months is around 14.30%, while LCLAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCLAX ClearBridge Select Fund Class A	0.00%	0.00%	0.00%	0.00%	0.01%	3.38%	0.00%	0.00%	1.31%	2.15%	1.13%	5.31%
PGOFX Pioneer Select Mid Cap Growth Fund	14.30%	16.61%	12.14%	0.00%	1.84%	11.47%	13.77%	1.37%	16.05%	8.32%	1.69%	8.90%

Frequently Asked Questions

Can I hold both PGOFX and LCLAX in my portfolio?

PGOFX and LCLAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGOFX or LCLAX?

PGOFX has higher volatility (7.57%) compared to LCLAX (2.94%). In terms of maximum drawdown, PGOFX dropped -62.17% vs LCLAX's -43.64%.

Which has better risk-adjusted returns?

PGOFX currently has the higher Sharpe Ratio (0.99 vs 0.36), 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.