AVALX vs. NEAIX

Last updated Apr 1, 2026

Compare and contrast key facts about Aegis Value Fund (AVALX) and Needham Aggressive Growth Fund Institutional Class (NEAIX).

AVALX is managed by Aegis. It was launched on May 15, 1998. NEAIX is an actively managed fund by Needham. It was launched on Dec 30, 2016.

Performance

AVALX vs. NEAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aegis Value Fund (AVALX) and Needham Aggressive Growth Fund Institutional Class (NEAIX). The values are adjusted to include any dividend payments, if applicable.

AVALX vs. NEAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVALX Aegis Value Fund	13.53%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	15.24%
NEAIX Needham Aggressive Growth Fund Institutional Class	7.37%	26.99%	14.86%	38.37%	-27.02%	38.46%	52.49%	44.68%	-15.64%	10.07%

Returns By Period

In the year-to-date period, AVALX achieves a 13.53% return, which is significantly higher than NEAIX's 7.37% return.

AVALX

• 1D: -0.54%
• 1M: -4.89%
• YTD: 13.53%
• 6M: 24.20%
• 1Y: 69.86%
• 3Y*: 28.86%
• 5Y*: 25.16%
• 10Y*: 21.54%

NEAIX

• 1D: -3.89%
• 1M: -9.47%
• YTD: 7.37%
• 6M: 10.73%
• 1Y: 55.63%
• 3Y*: 25.66%
• 5Y*: 15.35%
• 10Y*: —

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

AVALX vs. NEAIX - Expense Ratio Comparison

AVALX has a 1.50% expense ratio, which is higher than NEAIX's 1.20% expense ratio.

AVALX

Aegis Value Fund

NEAIX

Needham Aggressive Growth Fund Institutional Class

Return for Risk

AVALX vs. NEAIX — Risk / Return Rank

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

AVALX

AVALX Risk / Return Rank: 98
AVALX Sharpe Ratio Rank: 99
AVALX Sortino Ratio Rank: 97
AVALX Omega Ratio Rank: 96
AVALX Calmar Ratio Rank: 98
AVALX Martin Ratio Rank: 99

NEAIX

NEAIX Risk / Return Rank: 91
NEAIX Sharpe Ratio Rank: 90
NEAIX Sortino Ratio Rank: 89
NEAIX Omega Ratio Rank: 84
NEAIX Calmar Ratio Rank: 96
NEAIX Martin Ratio Rank: 95

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.

AVALX vs. NEAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aegis Value Fund (AVALX) and Needham Aggressive Growth Fund Institutional Class (NEAIX). 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.

	AVALX	NEAIX	Difference
Sharpe ratio Return per unit of total volatility	3.30	1.89	+1.41
Sortino ratio Return per unit of downside risk	3.95	2.45	+1.50
Omega ratio Gain probability vs. loss probability	1.59	1.34	+0.26
Calmar ratio Return relative to maximum drawdown	5.11	3.57	+1.54
Martin ratio Return relative to average drawdown	24.92	12.81	+12.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVALX vs. NEAIX - Sharpe Ratio Comparison

The current AVALX Sharpe Ratio is 3.30, which is higher than the NEAIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AVALX and NEAIX, 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

	AVALX	NEAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	1.89	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.64	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.72	-0.20

Correlation

The correlation between AVALX and NEAIX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AVALX vs. NEAIX - Dividend Comparison

AVALX's dividend yield for the trailing twelve months is around 2.06%, more than NEAIX's 1.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	2.06%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
NEAIX Needham Aggressive Growth Fund Institutional Class	1.88%	2.01%	0.00%	0.00%	0.00%	6.84%	3.80%	10.42%	16.35%	5.14%	0.00%	0.00%

Drawdowns

AVALX vs. NEAIX - Drawdown Comparison

The maximum AVALX drawdown since its inception was -73.72%, which is greater than NEAIX's maximum drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for AVALX and NEAIX.

Drawdown Indicators

	AVALX	NEAIX	Difference
Max Drawdown Largest peak-to-trough decline	-73.72%	-35.93%	-37.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-13.98%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	-32.00%	-35.93%	+3.93%
Max Drawdown (10Y) Largest decline over 10 years	-48.34%	—	—
Current Drawdown Current decline from peak	-6.09%	-11.55%	+5.46%
Average Drawdown Average peak-to-trough decline	-11.01%	-8.73%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.89%	-1.22%

Volatility

AVALX vs. NEAIX - Volatility Comparison

The current volatility for Aegis Value Fund (AVALX) is 5.32%, while Needham Aggressive Growth Fund Institutional Class (NEAIX) has a volatility of 10.98%. This indicates that AVALX experiences smaller price fluctuations and is considered to be less risky than NEAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVALX	NEAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	10.98%	-5.66%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	19.41%	-5.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.15%	28.68%	-7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.62%	24.28%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.32%	24.42%	-2.10%