Boasts high elemental defenses and little else, as it has an exceptionally low physical damage reduction and stability, and poor resistances to all status effects. However, the parma is lightweight along with being capable of deflecting spells with a well-timed parry.
The Cleric's Small Shield is an overall upgrade to the parma variant, by the cost of only having one more unit of weight and having a slight increase in requirement.
Overall, the parma's main advantage is its ability to spell-parry while having low stat requirements and weight. As such, it excels when used as a secondary shield to supplement one's main shield.