PRPFX vs. AVMA

Last updated Apr 1, 2026

Compare and contrast key facts about Permanent Portfolio Permanent Portfolio (PRPFX) and Avantis Moderate Allocation ETF (AVMA).

PRPFX is managed by Permanent Portfolio. It was launched on Nov 30, 1982. AVMA is an actively managed fund by Avantis. It was launched on Jun 27, 2023.

Performance

PRPFX vs. AVMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Permanent Portfolio (PRPFX) and Avantis Moderate Allocation ETF (AVMA). The values are adjusted to include any dividend payments, if applicable.

PRPFX vs. AVMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PRPFX Permanent Portfolio Permanent Portfolio	2.72%	28.78%	19.36%	8.70%
AVMA Avantis Moderate Allocation ETF	1.73%	16.72%	10.01%	8.19%

Returns By Period

In the year-to-date period, PRPFX achieves a 2.72% return, which is significantly higher than AVMA's 1.73% return.

PRPFX

• 1D: -0.31%
• 1M: -7.34%
• YTD: 2.72%
• 6M: 8.96%
• 1Y: 25.00%
• 3Y*: 19.97%
• 5Y*: 12.20%
• 10Y*: 10.84%

AVMA

• 1D: 1.95%
• 1M: -4.19%
• YTD: 1.73%
• 6M: 4.85%
• 1Y: 18.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRPFX vs. AVMA - Expense Ratio Comparison

PRPFX has a 0.81% expense ratio, which is higher than AVMA's 0.21% expense ratio.

PRPFX

Permanent Portfolio Permanent Portfolio

AVMA

Avantis Moderate Allocation ETF

Return for Risk

PRPFX vs. AVMA — Risk / Return Rank

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

PRPFX

PRPFX Risk / Return Rank: 91
PRPFX Sharpe Ratio Rank: 90
PRPFX Sortino Ratio Rank: 87
PRPFX Omega Ratio Rank: 90
PRPFX Calmar Ratio Rank: 94
PRPFX Martin Ratio Rank: 92

AVMA

AVMA Risk / Return Rank: 83
AVMA Sharpe Ratio Rank: 82
AVMA Sortino Ratio Rank: 85
AVMA Omega Ratio Rank: 85
AVMA Calmar Ratio Rank: 79
AVMA Martin Ratio Rank: 86

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.

PRPFX vs. AVMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Permanent Portfolio (PRPFX) and Avantis Moderate Allocation ETF (AVMA). 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.

	PRPFX	AVMA	Difference
Sharpe ratio Return per unit of total volatility	1.86	1.57	+0.29
Sortino ratio Return per unit of downside risk	2.31	2.25	+0.06
Omega ratio Gain probability vs. loss probability	1.40	1.33	+0.07
Calmar ratio Return relative to maximum drawdown	3.07	2.08	+0.99
Martin ratio Return relative to average drawdown	11.17	9.88	+1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRPFX vs. AVMA - Sharpe Ratio Comparison

The current PRPFX Sharpe Ratio is 1.86, which is comparable to the AVMA Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of PRPFX and AVMA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PRPFX	AVMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.57	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	1.30	-0.51

Correlation

The correlation between PRPFX and AVMA is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PRPFX vs. AVMA - Dividend Comparison

PRPFX's dividend yield for the trailing twelve months is around 3.18%, more than AVMA's 2.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRPFX Permanent Portfolio Permanent Portfolio	3.18%	3.27%	1.86%	1.39%	1.58%	2.05%	5.38%	4.69%	6.90%	2.14%	0.95%	7.06%
AVMA Avantis Moderate Allocation ETF	2.54%	2.21%	2.28%	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PRPFX vs. AVMA - Drawdown Comparison

The maximum PRPFX drawdown since its inception was -27.16%, which is greater than AVMA's maximum drawdown of -11.81%. Use the drawdown chart below to compare losses from any high point for PRPFX and AVMA.

Drawdown Indicators

	PRPFX	AVMA	Difference
Max Drawdown Largest peak-to-trough decline	-27.16%	-11.81%	-15.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.10%	-9.15%	+1.05%
Max Drawdown (5Y) Largest decline over 5 years	-15.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.84%	—	—
Current Drawdown Current decline from peak	-8.10%	-4.58%	-3.52%
Average Drawdown Average peak-to-trough decline	-3.52%	-1.61%	-1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	1.92%	+0.30%

Volatility

PRPFX vs. AVMA - Volatility Comparison

The current volatility for Permanent Portfolio Permanent Portfolio (PRPFX) is 3.59%, while Avantis Moderate Allocation ETF (AVMA) has a volatility of 4.36%. This indicates that PRPFX experiences smaller price fluctuations and is considered to be less risky than AVMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRPFX	AVMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	4.36%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	7.00%	+4.32%
Volatility (1Y) Calculated over the trailing 1-year period	13.77%	12.13%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.04%	10.33%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.57%	10.33%	+0.24%