CFAGX vs. NEEIX
CFAGX (Commerce MidCap Growth Fund) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, CFAGX returned 2.55%/yr vs 10.28%/yr for NEEIX. Their correlation of 0.81 means they have usually moved in the same direction. CFAGX charges 0.71%/yr vs 1.21%/yr for NEEIX.
Performance
CFAGX vs. NEEIX - Performance Comparison
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Returns By Period
In the year-to-date period, CFAGX achieves a 2.17% return, which is significantly lower than NEEIX's 35.91% return.
CFAGX
- 1D
- 0.05%
- 1M
- -3.26%
- 6M
- 2.88%
- YTD
- 2.17%
- 1Y
- -1.61%
- 3Y*
- 6.94%
- 5Y*
- 2.55%
- 10Y*
- 9.88%
- ALL TIME*
- 7.66%
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 |
CFAGX vs. NEEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CFAGX Commerce MidCap Growth Fund | 2.17% | 1.58% | 11.77% | 17.74% | -20.31% | 19.12% | 23.78% | 34.41% | -4.55% | 23.39% |
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 CFAGX and NEEIX is 0.71, 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. | 0.71 |
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 |
The correlation between CFAGX and NEEIX has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
CFAGX vs. NEEIX — Risk / Return Rank
CFAGX
NEEIX
CFAGX vs. NEEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Commerce MidCap Growth Fund (CFAGX) 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.
| CFAGX | NEEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.27 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.21 | -2.44 |
| Martin ratioReturn relative to average drawdown | -0.61 | 9.05 | -9.66 |
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Drawdowns
CFAGX vs. NEEIX - Drawdown Comparison
The maximum CFAGX drawdown since its inception was -61.05%, which is greater than NEEIX's maximum drawdown of -43.11%. Use the drawdown chart below to compare losses from any high point for CFAGX and NEEIX.
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Drawdown Indicators
| CFAGX | NEEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.05% | -43.11% | -17.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.85% | -23.12% | +10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -21.16% | -36.13% | +14.97% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -43.11% | +14.12% |
Max Drawdown (10Y)Largest decline over 10 years | -34.23% | — | — |
Current DrawdownCurrent decline from peak | -4.40% | -17.95% | +13.55% |
Average DrawdownAverage peak-to-trough decline | -14.83% | -10.83% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.94% | 5.64% | -0.70% |
Volatility
CFAGX vs. NEEIX - Volatility Comparison
The current volatility for Commerce MidCap Growth Fund (CFAGX) is 4.75%, while Needham Growth Fund Institutional Class (NEEIX) has a volatility of 12.55%. This indicates that CFAGX 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
| CFAGX | NEEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 12.55% | -7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 26.85% | -14.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 32.46% | -17.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.52% | 29.42% | -10.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.48% | 26.31% | -7.83% |
CFAGX vs. NEEIX - Expense Ratio Comparison
CFAGX has a 0.71% expense ratio, which is lower than NEEIX's 1.21% expense ratio.
Dividends
CFAGX vs. NEEIX - Dividend Comparison
CFAGX's dividend yield for the trailing twelve months is around 24.36%, more than NEEIX's 5.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFAGX Commerce MidCap Growth Fund | 24.36% | 24.89% | 10.80% | 6.77% | 2.00% | 19.35% | 4.23% | 6.59% | 10.81% | 7.05% | 5.27% | 8.83% |
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
CFAGX and NEEIX have a correlation of 0.71, 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 CFAGX (4.75%). In terms of maximum drawdown, CFAGX dropped -61.05% vs NEEIX's -43.11%.
NEEIX currently has the higher Sharpe Ratio (1.58 vs -0.20), 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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