PMEFX vs. FRGAX
PMEFX (Penn Mutual Am 1847 Income Fund) and FRGAX (Fidelity 70% Allocation Fund) are both Diversified Portfolio funds. Over the past 3 years, PMEFX returned 4.95%/yr vs 15.05%/yr for FRGAX. A 0.70 correlation means they provide meaningful diversification when combined. PMEFX charges 0.65%/yr vs 0.02%/yr for FRGAX.
Performance
PMEFX vs. FRGAX - Performance Comparison
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Returns By Period
PMEFX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -4.24%
- 3Y*
- 4.95%
- 5Y*
- 2.62%
- 10Y*
- —
FRGAX
- 1D
- 0.15%
- 1M
- -0.37%
- 6M
- 7.90%
- YTD
- 8.33%
- 1Y
- 16.76%
- 3Y*
- 15.05%
- 5Y*
- —
- 10Y*
- —
PMEFX vs. FRGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PMEFX Penn Mutual Am 1847 Income Fund | 0.00% | 1.11% | 9.80% | 9.80% | -0.17% |
FRGAX Fidelity 70% Allocation Fund | 8.33% | 17.10% | 12.91% | 17.57% | -1.63% |
Correlation
The correlation between PMEFX and FRGAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022 | 0.70 |
Over the past year, the correlation between PMEFX and FRGAX has dropped to 0.35 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
PMEFX vs. FRGAX — Risk / Return Rank
PMEFX
FRGAX
PMEFX vs. FRGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Penn Mutual Am 1847 Income Fund (PMEFX) and Fidelity 70% Allocation Fund (FRGAX). 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.
| PMEFX | FRGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.33 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.48 | -3.12 |
| Martin ratioReturn relative to average drawdown | -0.85 | 10.67 | -11.52 |
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Drawdowns
PMEFX vs. FRGAX - Drawdown Comparison
The maximum PMEFX drawdown since its inception was -13.27%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for PMEFX and FRGAX.
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Drawdown Indicators
| PMEFX | FRGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.27% | -11.77% | -1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -7.03% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.04% | -11.77% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -12.65% | — | — |
Current DrawdownCurrent decline from peak | -7.19% | -0.95% | -6.24% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -1.58% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 1.63% | +3.39% |
Volatility
PMEFX vs. FRGAX - Volatility Comparison
The current volatility for Penn Mutual Am 1847 Income Fund (PMEFX) is 0.00%, while Fidelity 70% Allocation Fund (FRGAX) has a volatility of 4.00%. This indicates that PMEFX experiences smaller price fluctuations and is considered to be less risky than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMEFX | FRGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.00% | -4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | 8.01% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.66% | 9.64% | -1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 10.39% | -2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.64% | 10.39% | -2.75% |
PMEFX vs. FRGAX - Expense Ratio Comparison
PMEFX has a 0.65% expense ratio, which is higher than FRGAX's 0.02% expense ratio.
Dividends
PMEFX vs. FRGAX - Dividend Comparison
PMEFX's dividend yield for the trailing twelve months is around 5.89%, more than FRGAX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FRGAX Fidelity 70% Allocation Fund | 1.85% | 2.00% | 2.01% | 1.77% | 1.71% | 0.00% | 0.00% |
PMEFX Penn Mutual Am 1847 Income Fund | 5.89% | 8.73% | 6.16% | 4.41% | 3.25% | 13.55% | 1.00% |
Frequently Asked Questions
PMEFX and FRGAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRGAX has higher volatility (4.00%) compared to PMEFX (0.00%). In terms of maximum drawdown, PMEFX dropped -13.27% vs FRGAX's -11.77%.
FRGAX currently has the higher Sharpe Ratio (1.81 vs -0.60), 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.
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