PMEFX vs. GRSPX
PMEFX (Penn Mutual AM 1847 Income Fund) and GRSPX (Greenspring Fund) are both Diversified Portfolio funds. Over the past 5 years, PMEFX returned 2.89%/yr vs 8.88%/yr for GRSPX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. PMEFX charges 0.65%/yr vs 1.09%/yr for GRSPX.
Performance
PMEFX vs. GRSPX - Performance Comparison
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Returns By Period
PMEFX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -3.78%
- 3Y*
- 4.63%
- 5Y*
- 2.89%
- 10Y*
- —
- ALL TIME*
- 5.31%
GRSPX
- 1D
- -1.85%
- 1M
- -6.92%
- 6M
- 7.45%
- YTD
- 15.00%
- 1Y
- 15.00%
- 3Y*
- 13.02%
- 5Y*
- 8.88%
- 10Y*
- 9.34%
- ALL TIME*
- 7.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
GRSPX Greenspring Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PMEFX vs. GRSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PMEFX Penn Mutual AM 1847 Income Fund | 0.00% | 1.11% | 9.80% | 9.80% | -4.30% | 9.78% | 6.47% |
GRSPX Greenspring Fund | 15.00% | 6.12% | 15.53% | 11.95% | -8.62% | 26.89% | 20.30% |
Correlation
The correlation between PMEFX and GRSPX is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2020 | 0.67 |
Over the past year, the correlation between PMEFX and GRSPX has dropped to 0.15 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
PMEFX vs. GRSPX — Risk / Return Rank
PMEFX
GRSPX
PMEFX vs. GRSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Penn Mutual AM 1847 Income Fund (PMEFX) and Greenspring Fund (GRSPX). 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 | GRSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.23 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 0.48 | -1.15 |
| Martin ratioReturn relative to average drawdown | -0.83 | 4.40 | -5.23 |
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Drawdowns
PMEFX vs. GRSPX - Drawdown Comparison
The maximum PMEFX drawdown since its inception was -13.27%, smaller than the maximum GRSPX drawdown of -35.67%. Use the drawdown chart below to compare losses from any high point for PMEFX and GRSPX.
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Drawdown Indicators
| PMEFX | GRSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.27% | -35.67% | +22.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -30.41% | +23.22% |
Max Drawdown (3Y)Largest decline over 3 years | -10.04% | -30.41% | +20.37% |
Max Drawdown (5Y)Largest decline over 5 years | -12.12% | -30.41% | +18.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.07% | — |
Current DrawdownCurrent decline from peak | -7.19% | -6.92% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -4.81% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 3.26% | +2.04% |
Volatility
PMEFX vs. GRSPX - Volatility Comparison
The current volatility for Penn Mutual AM 1847 Income Fund (PMEFX) is 0.00%, while Greenspring Fund (GRSPX) has a volatility of 3.66%. This indicates that PMEFX experiences smaller price fluctuations and is considered to be less risky than GRSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMEFX | GRSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.66% | -3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 0.00% | 50.98% | -50.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.48% | 56.06% | -48.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 28.19% | -20.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.61% | 22.53% | -14.92% |
PMEFX vs. GRSPX - Expense Ratio Comparison
PMEFX has a 0.65% expense ratio, which is lower than GRSPX's 1.09% expense ratio.
Dividends
PMEFX vs. GRSPX - Dividend Comparison
PMEFX's dividend yield for the trailing twelve months is around 5.89%, less than GRSPX's 8.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRSPX Greenspring Fund | 8.18% | 9.40% | 6.70% | 6.84% | 8.04% | 7.69% | 2.39% | 7.89% | 11.05% | 9.63% | 6.81% | 5.34% |
PMEFX Penn Mutual AM 1847 Income Fund | 5.89% | 8.73% | 6.16% | 4.41% | 3.25% | 13.55% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMEFX and GRSPX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRSPX has higher volatility (3.66%) compared to PMEFX (0.00%). In terms of maximum drawdown, PMEFX dropped -13.27% vs GRSPX's -35.67%.
GRSPX currently has the higher Sharpe Ratio (0.26 vs -0.64), 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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