PGSGX vs. HRSMX

Last updated Jun 6, 2026

PGSGX (JPMorgan Small Cap Growth Fund) and HRSMX (Hood River Small-Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, PGSGX returned 12.89%/yr vs 20.43%/yr for HRSMX. Their correlation of 0.94 suggests significant overlap in exposure. PGSGX charges 1.24%/yr vs 1.09%/yr for HRSMX.

Performance

PGSGX vs. HRSMX - Performance Comparison

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

Returns By Period

In the year-to-date period, PGSGX achieves a 21.44% return, which is significantly lower than HRSMX's 37.13% return. Over the past 10 years, PGSGX has underperformed HRSMX with an annualized return of 12.89%, while HRSMX has yielded a comparatively higher 20.43% annualized return.

PGSGX

• 1D: 1.14%
• 1M: 2.45%
• YTD: 21.44%
• 6M: 18.31%
• 1Y: 37.36%
• 3Y*: 15.47%
• 5Y*: 1.68%
• 10Y*: 12.89%

HRSMX

• 1D: 1.59%
• 1M: 3.04%
• YTD: 37.13%
• 6M: 34.18%
• 1Y: 79.14%
• 3Y*: 36.31%
• 5Y*: 15.99%
• 10Y*: 20.43%

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

PGSGX vs. HRSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGSGX JPMorgan Small Cap Growth Fund	21.44%	6.21%	12.45%	13.85%	-32.43%	-6.17%	59.18%	37.15%	-4.65%	41.26%
HRSMX Hood River Small-Cap Growth Fund	37.13%	23.85%	35.48%	21.52%	-27.99%	23.19%	60.80%	24.13%	-6.91%	20.60%

Correlation

The correlation between PGSGX and HRSMX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 7, 2003	0.94

The correlation between PGSGX and HRSMX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

PGSGX vs. HRSMX — 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: 39
PGSGX Sortino Ratio Rank: 37
PGSGX Omega Ratio Rank: 34
PGSGX Calmar Ratio Rank: 51
PGSGX Martin Ratio Rank: 47

HRSMX

HRSMX Risk / Return Rank: 86
HRSMX Sharpe Ratio Rank: 90
HRSMX Sortino Ratio Rank: 76
HRSMX Omega Ratio Rank: 71
HRSMX Calmar Ratio Rank: 96
HRSMX Martin Ratio Rank: 97

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. HRSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small Cap Growth Fund (PGSGX) and Hood River Small-Cap Growth Fund (HRSMX). 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	HRSMX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.95	-1.22
Sortino ratio: Return per unit of downside risk	2.43	3.57	-1.15
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.16
Calmar ratio: Return relative to maximum drawdown	2.62	6.43	-3.82
Martin ratio: Return relative to average drawdown	9.54	26.56	-17.01
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. HRSMX - Sharpe Ratio Comparison

The current PGSGX Sharpe Ratio is 1.73, which is lower than the HRSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of PGSGX and HRSMX, 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	HRSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.95	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.59	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.79	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.58	-0.14

Drawdowns

PGSGX vs. HRSMX - Drawdown Comparison

The maximum PGSGX drawdown since its inception was -60.90%, smaller than the maximum HRSMX drawdown of -64.92%. Use the drawdown chart below to compare losses from any high point for PGSGX and HRSMX.

Drawdown Indicators

	PGSGX	HRSMX	Difference
Max Drawdown Largest peak-to-trough decline	-60.90%	-64.92%	+4.02%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-12.29%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-29.28%	-33.04%	+3.76%
Max Drawdown (5Y) Largest decline over 5 years	-45.33%	-38.49%	-6.84%
Max Drawdown (10Y) Largest decline over 10 years	-47.84%	-40.74%	-7.10%
Current Drawdown Current decline from peak	-5.36%	-0.37%	-4.99%
Average Drawdown Average peak-to-trough decline	-14.16%	-13.07%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	2.97%	+0.96%

Volatility

PGSGX vs. HRSMX - Volatility Comparison

The current volatility for JPMorgan Small Cap Growth Fund (PGSGX) is 6.78%, while Hood River Small-Cap Growth Fund (HRSMX) has a volatility of 8.59%. This indicates that PGSGX experiences smaller price fluctuations and is considered to be less risky than HRSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGSGX	HRSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.78%	8.59%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	16.80%	21.50%	-4.70%
Volatility (1Y) Calculated over the trailing 1-year period	21.74%	26.82%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.58%	27.31%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	25.98%	-0.59%

PGSGX vs. HRSMX - Expense Ratio Comparison

PGSGX has a 1.24% expense ratio, which is higher than HRSMX's 1.09% expense ratio.

Dividends

PGSGX vs. HRSMX - Dividend Comparison

PGSGX's dividend yield for the trailing twelve months is around 6.09%, more than HRSMX's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRSMX Hood River Small-Cap Growth Fund	3.08%	4.23%	3.75%	0.00%	0.00%	19.96%	6.28%	0.00%	4.59%	6.74%	0.00%	5.73%
PGSGX JPMorgan Small Cap Growth Fund	6.09%	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 HRSMX in my portfolio?

With a correlation of 0.91, PGSGX and HRSMX 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, PGSGX or HRSMX?

HRSMX has higher volatility (8.59%) compared to PGSGX (6.78%). In terms of maximum drawdown, PGSGX dropped -60.90% vs HRSMX's -64.92%.

Which has better risk-adjusted returns?

HRSMX currently has the higher Sharpe Ratio (2.95 vs 1.73), 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.