PGSGX vs. CMCIX

Last updated Jun 3, 2026

PGSGX (JPMorgan Small Cap Growth Fund) and CMCIX (Calvert Small/Mid-Cap Fund Class I) are both Small Cap Growth Equities funds. Over the past year, PGSGX returned 37.88% vs 0.07% for CMCIX. Their correlation of 0.81 suggests significant overlap in exposure. PGSGX charges 1.24%/yr vs 1.26%/yr for CMCIX.

Performance

PGSGX vs. CMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small Cap Growth Fund (PGSGX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGSGX achieves a 19.85% return, which is significantly higher than CMCIX's 1.72% return.

PGSGX

• 1D: -0.75%
• 1M: 5.67%
• YTD: 19.85%
• 6M: 19.10%
• 1Y: 37.88%
• 3Y*: 14.74%
• 5Y*: 1.34%
• 10Y*: 12.87%

CMCIX

• 1D: -0.60%
• 1M: -0.96%
• YTD: 1.72%
• 6M: 1.56%
• 1Y: 0.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGSGX vs. CMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PGSGX JPMorgan Small Cap Growth Fund	19.85%	6.21%	12.45%	7.67%
CMCIX Calvert Small/Mid-Cap Fund Class I	1.72%	-5.28%	10.46%	7.81%

Correlation

The correlation between PGSGX and CMCIX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	0.81

The correlation between PGSGX and CMCIX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

PGSGX vs. CMCIX — Risk / Return Rank

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

PGSGX

PGSGX Risk / Return Rank: 41
PGSGX Sharpe Ratio Rank: 38
PGSGX Sortino Ratio Rank: 36
PGSGX Omega Ratio Rank: 33
PGSGX Calmar Ratio Rank: 50
PGSGX Martin Ratio Rank: 47

CMCIX

CMCIX Risk / Return Rank: 2
CMCIX Sharpe Ratio Rank: 2
CMCIX Sortino Ratio Rank: 3
CMCIX Omega Ratio Rank: 2
CMCIX Calmar Ratio Rank: 2
CMCIX Martin Ratio Rank: 2

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.

PGSGX vs. CMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small Cap Growth Fund (PGSGX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). 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.

	PGSGX	CMCIX	Difference
Sharpe ratio Return per unit of total volatility	1.80	-0.02	+1.83
Sortino ratio Return per unit of downside risk	2.52	0.08	+2.44
Omega ratio Gain probability vs. loss probability	1.30	1.01	+0.30
Calmar ratio Return relative to maximum drawdown	2.70	-0.04	+2.73
Martin ratio Return relative to average drawdown	9.84	-0.09	+9.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGSGX vs. CMCIX - Sharpe Ratio Comparison

The current PGSGX Sharpe Ratio is 1.80, which is higher than the CMCIX Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of PGSGX and CMCIX, 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

	PGSGX	CMCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	-0.02	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.32	+0.12

Drawdowns

PGSGX vs. CMCIX - Drawdown Comparison

The maximum PGSGX drawdown since its inception was -60.90%, which is greater than CMCIX's maximum drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for PGSGX and CMCIX.

Drawdown Indicators

	PGSGX	CMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.90%	-21.50%	-39.40%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-11.68%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-29.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.84%	—	—
Current Drawdown Current decline from peak	-6.61%	-10.79%	+4.18%
Average Drawdown Average peak-to-trough decline	-14.16%	-6.44%	-7.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	4.98%	-1.05%

Volatility

PGSGX vs. CMCIX - Volatility Comparison

JPMorgan Small Cap Growth Fund (PGSGX) has a higher volatility of 7.25% compared to Calvert Small/Mid-Cap Fund Class I (CMCIX) at 3.89%. This indicates that PGSGX's price experiences larger fluctuations and is considered to be riskier than CMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGSGX	CMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	3.89%	+3.36%
Volatility (6M) Calculated over the trailing 6-month period	16.90%	10.55%	+6.35%
Volatility (1Y) Calculated over the trailing 1-year period	21.80%	15.16%	+6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.58%	16.55%	+9.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.40%	16.55%	+8.85%

PGSGX vs. CMCIX - Expense Ratio Comparison

PGSGX has a 1.24% expense ratio, which is lower than CMCIX's 1.26% expense ratio.

Dividends

PGSGX vs. CMCIX - Dividend Comparison

PGSGX's dividend yield for the trailing twelve months is around 6.17%, more than CMCIX's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMCIX Calvert Small/Mid-Cap Fund Class I	4.18%	4.25%	7.13%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PGSGX JPMorgan Small Cap Growth Fund	6.17%	7.40%	0.59%	0.00%	0.48%	15.83%	7.15%	6.21%	14.97%	8.27%	3.72%	8.72%

Frequently Asked Questions

Can I hold both PGSGX and CMCIX in my portfolio?

PGSGX and CMCIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGSGX or CMCIX?

PGSGX has higher volatility (7.25%) compared to CMCIX (3.89%). In terms of maximum drawdown, PGSGX dropped -60.90% vs CMCIX's -21.50%.

Which has better risk-adjusted returns?

PGSGX currently has the higher Sharpe Ratio (1.80 vs -0.02), 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.