AMGOX vs. NEEIX

Last updated Aug 4, 2026

AMGOX (Alger Mid Cap Growth Portfolio Fund) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, AMGOX returned 2.52%/yr vs 10.28%/yr for NEEIX. Their correlation of 0.82 means they have usually moved in the same direction. AMGOX charges 0.92%/yr vs 1.21%/yr for NEEIX.

Performance

AMGOX vs. NEEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Mid Cap Growth Portfolio Fund (AMGOX) and Needham Growth Fund Institutional Class (NEEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMGOX achieves a 4.11% return, which is significantly lower than NEEIX's 35.91% return.

AMGOX

• 1D: 0.20%
• 1M: -4.39%
• 6M: 4.91%
• YTD: 4.11%
• 1Y: 9.49%
• 3Y*: 14.30%
• 5Y*: 2.52%
• 10Y*: 12.11%
• ALL TIME*: 10.26%

NEEIX

• 1D: 0.82%
• 1M: -9.25%
• 6M: 17.09%
• YTD: 35.91%
• 1Y: 53.25%
• 3Y*: 19.26%
• 5Y*: 10.28%
• 10Y*: —
• ALL TIME*: 15.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMGOX Alger Mid Cap Growth Portfolio Fund	$0.00	$0.00	$0.00
NEEIX Needham Growth Fund Institutional Class	$0.00	$0.00	$0.00

AMGOX vs. NEEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMGOX Alger Mid Cap Growth Portfolio Fund	4.11%	16.76%	21.07%	23.17%	-36.14%	5.45%	64.79%	30.24%	-7.42%	26.90%
NEEIX Needham Growth Fund Institutional Class	35.91%	9.32%	19.26%	27.30%	-33.26%	28.13%	42.39%	43.15%	-10.13%	8.47%

Correlation

The correlation between AMGOX and NEEIX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.82

The correlation between AMGOX and NEEIX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

AMGOX vs. NEEIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMGOX

AMGOX Risk / Return Rank: 9
AMGOX Sharpe Ratio Rank: 9
AMGOX Sortino Ratio Rank: 9
AMGOX Omega Ratio Rank: 9
AMGOX Calmar Ratio Rank: 9
AMGOX Martin Ratio Rank: 10

NEEIX

NEEIX Risk / Return Rank: 56
NEEIX Sharpe Ratio Rank: 57
NEEIX Sortino Ratio Rank: 48
NEEIX Omega Ratio Rank: 47
NEEIX Calmar Ratio Rank: 59
NEEIX Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMGOX vs. NEEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap Growth Portfolio Fund (AMGOX) and Needham Growth Fund Institutional Class (NEEIX). 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.

	AMGOX	NEEIX	Difference
Sharpe ratio: Return per unit of total volatility	0.38	1.58	-1.19
Sortino ratio: Return per unit of downside risk	0.69	2.08	-1.40
Omega ratio: Gain probability vs. loss probability	1.08	1.27	-0.19
Calmar ratio: Return relative to maximum drawdown	0.48	2.21	-1.73
Martin ratio: Return relative to average drawdown	1.47	9.05	-7.58

AMGOX vs. NEEIX - Sharpe Ratio Comparison

The current AMGOX Sharpe Ratio is 0.38, which is lower than the NEEIX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of AMGOX and NEEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMGOX vs. NEEIX - Drawdown Comparison

The maximum AMGOX drawdown since its inception was -68.10%, which is greater than NEEIX's maximum drawdown of -43.11%. Use the drawdown chart below to compare losses from any high point for AMGOX and NEEIX.

Drawdown Indicators

	AMGOX	NEEIX	Difference
Max Drawdown Largest peak-to-trough decline	-68.10%	-43.11%	-24.99%
Max Drawdown (1Y) Largest decline over 1 year	-16.25%	-23.12%	+6.87%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	-36.13%	+8.79%
Max Drawdown (5Y) Largest decline over 5 years	-59.22%	-43.11%	-16.11%
Max Drawdown (10Y) Largest decline over 10 years	-59.22%	—	—
Current Drawdown Current decline from peak	-22.89%	-17.95%	-4.94%
Average Drawdown Average peak-to-trough decline	-17.73%	-10.83%	-6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	5.64%	-0.36%

Volatility

AMGOX vs. NEEIX - Volatility Comparison

The current volatility for Alger Mid Cap Growth Portfolio Fund (AMGOX) is 5.28%, while Needham Growth Fund Institutional Class (NEEIX) has a volatility of 12.55%. This indicates that AMGOX experiences smaller price fluctuations and is considered to be less risky than NEEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMGOX	NEEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	12.55%	-7.27%
Volatility (6M) Calculated over the trailing 6-month period	16.06%	26.85%	-10.79%
Volatility (1Y) Calculated over the trailing 1-year period	20.32%	32.46%	-12.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.50%	29.42%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.17%	26.31%	+5.86%

AMGOX vs. NEEIX - Expense Ratio Comparison

AMGOX has a 0.92% expense ratio, which is lower than NEEIX's 1.21% expense ratio.

Dividends

AMGOX vs. NEEIX - Dividend Comparison

AMGOX has not paid dividends to shareholders, while NEEIX's dividend yield for the trailing twelve months is around 5.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMGOX Alger Mid Cap Growth Portfolio Fund	0.00%	0.00%	0.00%	0.00%	3.72%	55.13%	12.13%	12.09%	18.59%	0.00%
NEEIX Needham Growth Fund Institutional Class	5.27%	7.16%	7.48%	0.00%	1.72%	6.70%	5.58%	11.09%	17.58%	9.64%

Frequently Asked Questions

Can I hold both AMGOX and NEEIX in my portfolio?

AMGOX and NEEIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMGOX or NEEIX?

NEEIX has higher volatility (12.55%) compared to AMGOX (5.28%). In terms of maximum drawdown, AMGOX dropped -68.10% vs NEEIX's -43.11%.

Which has better risk-adjusted returns?

NEEIX currently has the higher Sharpe Ratio (1.58 vs 0.38), 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.