Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal


What is everyone’s thoughts on PARWX, buy, sell or hold?


  • @Carefree: Has had difficulty beating it's benchmark the S&P 500 Index over the last ten years, I'd sell.
  • Ted said:

    @Carefree: Has had difficulty beating it's benchmark the S&P 500 Index over the last ten years, I'd sell.

    In what ways has it had difficulty beating the S&P 500? It seems to have beaten it cleanly over the past 3, 5, and 10 year time frames.
  • I would sell but not based on the 10 year performance, which it did in fact beat the S&P 500. Not sure what Ted was looking at. Personally I like BIAWX for my LG exposure.
  • hmgodwin: For your information I've linked the performance of PARWX, check it out.
    YTD-5yrs. No
    10yrs. Yes
  • To avoid random noise, or more likely selective time frames, the government requires funds advertising performance to use standardized periods ending on calendar quarters. 17 CFR 230.482(d)(3)(ii).

    So I took a look at the link Ted provided, and clicked on the "quarterly" tab. It seems that PARWX, as of the most recently completed quarter, has outperformed the S&P 500 over the past 3, 5, and 10 years.

    The fact that these numbers have shifted in the past two months is reflective of little more than the fund's poor performance over the past handful of weeks. To put it another way, this change isn't so much about long term performance as it is about "what have you done for me lately?"

    Over the past three months (through June 13), the fund has underperformed by 7%. In the first quarter of 2019 it outperformed by 4¾%. In the fourth quarter of 2018, it underperformed by 3⅔%. Sure it's volatile. To paraphrase Mark Twain, if you don't like the performance, wait a few months.
  • I owned it for a while and was happy with it. Sold out of the position +1 year ago, not because of any issue with PARWX, but because I wanted to severely limit exposure to risk-assets.

    That said, per M*, its +40% in tech. And they will always be overweight in tech, as the manager (Parnassus) is a pioneer in ESG investing. As such, they tend to screen OUT the energy sector. It appears they own no energy, materials or utes, at last report (per M*) -- By disqualifying some sectors, they must, out of simple arithmetic necessity, overweight what is left. Any investor considering PARWX -- or any ESG type fund-- should be mentally comfortable with that fact.
Sign In or Register to comment.