BMDSX vs. NEEIX
BMDSX (Baird Mid Cap Growth Fund) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, BMDSX returned -2.48%/yr vs 10.28%/yr for NEEIX. Their correlation of 0.81 means they have usually moved in the same direction. BMDSX charges 1.05%/yr vs 1.21%/yr for NEEIX.
Performance
BMDSX vs. NEEIX - Performance Comparison
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Returns By Period
In the year-to-date period, BMDSX achieves a 7.69% return, which is significantly lower than NEEIX's 35.91% return.
BMDSX
- 1D
- 0.55%
- 1M
- -1.14%
- 6M
- 4.48%
- YTD
- 7.69%
- 1Y
- -0.24%
- 3Y*
- -0.64%
- 5Y*
- -2.48%
- 10Y*
- 8.82%
- ALL TIME*
- 7.16%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BMDSX vs. NEEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMDSX Baird Mid Cap Growth Fund | 7.69% | -9.55% | -1.16% | 19.91% | -27.86% | 21.81% | 34.56% | 35.94% | -1.52% | 26.61% |
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 BMDSX and NEEIX is 0.61, 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. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.81 |
Over the past year, the correlation between BMDSX and NEEIX has dropped to 0.61 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
BMDSX vs. NEEIX — Risk / Return Rank
BMDSX
NEEIX
BMDSX vs. NEEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Mid Cap Growth Fund (BMDSX) 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.
| BMDSX | NEEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 2.21 | -2.32 |
| Martin ratioReturn relative to average drawdown | -0.26 | 9.05 | -9.31 |
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Drawdowns
BMDSX vs. NEEIX - Drawdown Comparison
The maximum BMDSX drawdown since its inception was -53.96%, which is greater than NEEIX's maximum drawdown of -43.11%. Use the drawdown chart below to compare losses from any high point for BMDSX and NEEIX.
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Drawdown Indicators
| BMDSX | NEEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.96% | -43.11% | -10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.32% | -23.12% | +9.80% |
Max Drawdown (3Y)Largest decline over 3 years | -25.04% | -36.13% | +11.09% |
Max Drawdown (5Y)Largest decline over 5 years | -36.24% | -43.11% | +6.87% |
Max Drawdown (10Y)Largest decline over 10 years | -36.24% | — | — |
Current DrawdownCurrent decline from peak | -19.88% | -17.95% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -11.00% | -10.83% | -0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.71% | 5.64% | +0.07% |
Volatility
BMDSX vs. NEEIX - Volatility Comparison
The current volatility for Baird Mid Cap Growth Fund (BMDSX) is 3.35%, while Needham Growth Fund Institutional Class (NEEIX) has a volatility of 12.55%. This indicates that BMDSX 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.
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Volatility by Period
| BMDSX | NEEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 12.55% | -9.20% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 26.85% | -14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 32.46% | -16.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.06% | 29.42% | -8.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.76% | 26.31% | -5.55% |
BMDSX vs. NEEIX - Expense Ratio Comparison
BMDSX has a 1.05% expense ratio, which is lower than NEEIX's 1.21% expense ratio.
Dividends
BMDSX vs. NEEIX - Dividend Comparison
BMDSX's dividend yield for the trailing twelve months is around 12.89%, more than NEEIX's 5.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMDSX Baird Mid Cap Growth Fund | 12.89% | 13.88% | 4.57% | 2.44% | 1.79% | 17.82% | 10.09% | 5.77% | 6.62% | 4.87% | 0.00% | 0.15% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
BMDSX and NEEIX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEEIX has higher volatility (12.55%) compared to BMDSX (3.35%). In terms of maximum drawdown, BMDSX dropped -53.96% vs NEEIX's -43.11%.
NEEIX currently has the higher Sharpe Ratio (1.58 vs -0.10), 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.
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