BAFMX vs. NEEIX

Last updated Jun 25, 2026

BAFMX (Brown Advisory Mid-Cap Growth Fund) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Their correlation of 0.81 suggests significant overlap in exposure. BAFMX charges 0.79%/yr vs 1.21%/yr for NEEIX.

Performance

BAFMX vs. NEEIX - Performance Comparison

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

Returns By Period

BAFMX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NEEIX

• 1D: -4.98%
• 1M: 7.16%
• YTD: 57.27%
• 6M: 53.96%
• 1Y: 85.37%
• 3Y*: 30.11%
• 5Y*: 14.72%
• 10Y*: —

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

BAFMX vs. NEEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BAFMX Brown Advisory Mid-Cap Growth Fund	-2.65%	3.70%	15.29%	23.21%	-28.12%	6.32%	32.56%	38.63%	-8.59%
NEEIX Needham Growth Fund Institutional Class	57.27%	9.32%	19.26%	27.30%	-33.26%	28.13%	42.39%	43.15%	-6.14%

Correlation

The correlation between BAFMX and NEEIX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.81

Over the past year, the correlation between BAFMX and NEEIX has dropped to 0.57 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

BAFMX vs. NEEIX — Risk / Return Rank

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

BAFMX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

NEEIX

NEEIX Risk / Return Rank: 92
NEEIX Sharpe Ratio Rank: 96
NEEIX Sortino Ratio Rank: 85
NEEIX Omega Ratio Rank: 83
NEEIX Calmar Ratio Rank: 98
NEEIX Martin Ratio Rank: 97

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.

BAFMX vs. NEEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Mid-Cap Growth Fund (BAFMX) 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.

	BAFMX	NEEIX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.11	—
Sortino ratio: Return per unit of downside risk	—	3.58	—
Omega ratio: Gain probability vs. loss probability	—	1.48	—
Calmar ratio: Return relative to maximum drawdown	—	6.90	—
Martin ratio: Return relative to average drawdown	—	22.93	—

Drawdowns

Drawdown Indicators

	BAFMX	NEEIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-43.11%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-36.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.11%	—
Current Drawdown Current decline from peak	—	-4.98%	—
Average Drawdown Average peak-to-trough decline	—	-10.82%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.97%	—

Volatility

Volatility by Period

	BAFMX	NEEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	29.38%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.03%	—

BAFMX vs. NEEIX - Expense Ratio Comparison

BAFMX has a 0.79% expense ratio, which is lower than NEEIX's 1.21% expense ratio.

Dividends

BAFMX vs. NEEIX - Dividend Comparison

BAFMX's dividend yield for the trailing twelve months is around 75.00%, more than NEEIX's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAFMX Brown Advisory Mid-Cap Growth Fund	75.00%	73.01%	0.00%	0.00%	6.85%	9.92%	0.00%	0.52%	1.14%	0.00%
NEEIX Needham Growth Fund Institutional Class	4.55%	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 BAFMX and NEEIX in my portfolio?

BAFMX and NEEIX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.