PRPDX vs. PRPFX

Last updated Jun 6, 2026

PRPDX (Permanent Portfolio Fund Class A) and PRPFX (Permanent Portfolio Permanent Portfolio) are both Diversified Portfolio funds from Permanent Portfolio. Over the past 5 years, PRPDX returned 11.34%/yr vs 11.62%/yr for PRPFX. With a 1.00 correlation, they move nearly in lockstep. PRPDX charges 1.06%/yr vs 0.81%/yr for PRPFX.

Performance

PRPDX vs. PRPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Fund Class A (PRPDX) and Permanent Portfolio Permanent Portfolio (PRPFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PRPDX having a 6.90% return and PRPFX slightly higher at 7.00%.

PRPDX

• 1D: 0.24%
• 1M: 0.05%
• YTD: 6.90%
• 6M: 8.94%
• 1Y: 23.74%
• 3Y*: 21.30%
• 5Y*: 11.34%
• 10Y*: —

PRPFX

• 1D: 0.24%
• 1M: 0.06%
• YTD: 7.00%
• 6M: 9.07%
• 1Y: 24.04%
• 3Y*: 21.60%
• 5Y*: 11.62%
• 10Y*: 11.04%

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

PRPDX vs. PRPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRPDX Permanent Portfolio Fund Class A	6.90%	28.45%	19.06%	11.69%	-5.71%	10.58%	18.51%	18.92%	-6.45%	10.35%
PRPFX Permanent Portfolio Permanent Portfolio	7.00%	28.78%	19.36%	11.96%	-5.48%	10.87%	18.80%	19.20%	-7.02%	10.63%

Correlation

The correlation between PRPDX and PRPFX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	1.00

The correlation between PRPDX and PRPFX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

PRPDX vs. PRPFX — Risk / Return Rank

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

PRPDX

PRPDX Risk / Return Rank: 45
PRPDX Sharpe Ratio Rank: 44
PRPDX Sortino Ratio Rank: 33
PRPDX Omega Ratio Rank: 52
PRPDX Calmar Ratio Rank: 59
PRPDX Martin Ratio Rank: 37

PRPFX

PRPFX Risk / Return Rank: 47
PRPFX Sharpe Ratio Rank: 46
PRPFX Sortino Ratio Rank: 34
PRPFX Omega Ratio Rank: 54
PRPFX Calmar Ratio Rank: 62
PRPFX Martin Ratio Rank: 38

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.

PRPDX vs. PRPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Fund Class A (PRPDX) and Permanent Portfolio Permanent Portfolio (PRPFX). 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.

	PRPDX	PRPFX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.90	-0.02
Sortino ratio: Return per unit of downside risk	2.30	2.33	-0.03
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.87	2.91	-0.05
Martin ratio: Return relative to average drawdown	7.89	8.05	-0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRPDX vs. PRPFX - Sharpe Ratio Comparison

The current PRPDX Sharpe Ratio is 1.87, which is comparable to the PRPFX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PRPDX and PRPFX, 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

	PRPDX	PRPFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	1.90	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	1.06	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.80	+0.26

Drawdowns

PRPDX vs. PRPFX - Drawdown Comparison

The maximum PRPDX drawdown since its inception was -20.87%, smaller than the maximum PRPFX drawdown of -27.16%. Use the drawdown chart below to compare losses from any high point for PRPDX and PRPFX.

Drawdown Indicators

	PRPDX	PRPFX	Difference
Max Drawdown Largest peak-to-trough decline	-20.87%	-27.16%	+6.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-8.10%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-8.22%	-8.19%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	-15.49%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.84%	—
Current Drawdown Current decline from peak	-4.35%	-4.28%	-0.07%
Average Drawdown Average peak-to-trough decline	-2.81%	-3.52%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.93%	+0.02%

Volatility

PRPDX vs. PRPFX - Volatility Comparison

Permanent Portfolio Fund Class A (PRPDX) and Permanent Portfolio Permanent Portfolio (PRPFX) have volatilities of 2.64% and 2.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRPDX	PRPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.64%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	11.21%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	12.45%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	11.05%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	10.61%	+0.18%

PRPDX vs. PRPFX - Expense Ratio Comparison

PRPDX has a 1.06% expense ratio, which is higher than PRPFX's 0.81% expense ratio.

Dividends

PRPDX vs. PRPFX - Dividend Comparison

PRPDX's dividend yield for the trailing twelve months is around 2.90%, less than PRPFX's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRPDX Permanent Portfolio Fund Class A	2.90%	3.10%	1.61%	1.20%	1.30%	1.86%	5.26%	4.49%	7.57%	1.97%	0.00%	0.00%
PRPFX Permanent Portfolio Permanent Portfolio	3.05%	3.27%	1.86%	1.39%	1.58%	2.05%	5.38%	4.69%	6.90%	2.14%	0.95%	7.06%

Frequently Asked Questions

Can I hold both PRPDX and PRPFX in my portfolio?

With a correlation of 1.00, PRPDX and PRPFX 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, PRPDX or PRPFX?

PRPFX has higher volatility (2.64%) compared to PRPDX (2.64%). In terms of maximum drawdown, PRPDX dropped -20.87% vs PRPFX's -27.16%.

Which has better risk-adjusted returns?

PRPFX currently has the higher Sharpe Ratio (1.90 vs 1.87), 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.