CWSGX vs. NESGX

Last updated Jun 24, 2026

CWSGX (Chartwell Small Cap Growth Fund) and NESGX (Needham Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, CWSGX returned 12.66%/yr vs 9.77%/yr for NESGX. Their correlation of 0.82 suggests significant overlap in exposure. CWSGX charges 1.05%/yr vs 1.85%/yr for NESGX.

Performance

CWSGX vs. NESGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chartwell Small Cap Growth Fund (CWSGX) and Needham Small Cap Growth Fund (NESGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWSGX achieves a 35.95% return, which is significantly lower than NESGX's 83.39% return.

CWSGX

• 1D: 1.87%
• 1M: 9.38%
• YTD: 35.95%
• 6M: 33.64%
• 1Y: 63.38%
• 3Y*: 32.88%
• 5Y*: 12.66%
• 10Y*: —

NESGX

• 1D: -0.40%
• 1M: 10.48%
• YTD: 83.39%
• 6M: 78.75%
• 1Y: 120.96%
• 3Y*: 34.45%
• 5Y*: 9.77%
• 10Y*: 20.34%

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

CWSGX vs. NESGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWSGX Chartwell Small Cap Growth Fund	35.95%	14.77%	35.94%	22.41%	-30.85%	15.83%	42.56%	27.38%	-8.37%	11.08%
NESGX Needham Small Cap Growth Fund	83.39%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	7.38%

Correlation

The correlation between CWSGX and NESGX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 22, 2017	0.82

The correlation between CWSGX and NESGX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

Return for Risk

CWSGX vs. NESGX — Risk / Return Rank

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

CWSGX

CWSGX Risk / Return Rank: 86
CWSGX Sharpe Ratio Rank: 89
CWSGX Sortino Ratio Rank: 78
CWSGX Omega Ratio Rank: 74
CWSGX Calmar Ratio Rank: 95
CWSGX Martin Ratio Rank: 96

NESGX

NESGX Risk / Return Rank: 95
NESGX Sharpe Ratio Rank: 99
NESGX Sortino Ratio Rank: 93
NESGX Omega Ratio Rank: 87
NESGX Calmar Ratio Rank: 98
NESGX Martin Ratio Rank: 98

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.

CWSGX vs. NESGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chartwell Small Cap Growth Fund (CWSGX) and Needham Small Cap Growth Fund (NESGX). 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.

	CWSGX	NESGX	Difference
Sharpe ratio: Return per unit of total volatility	2.73	3.99	-1.26
Sortino ratio: Return per unit of downside risk	3.41	4.33	-0.92
Omega ratio: Gain probability vs. loss probability	1.44	1.56	-0.13
Calmar ratio: Return relative to maximum drawdown	5.48	7.27	-1.78
Martin ratio: Return relative to average drawdown	21.79	29.61	-7.82

CWSGX vs. NESGX - Sharpe Ratio Comparison

The current CWSGX Sharpe Ratio is 2.73, which is lower than the NESGX Sharpe Ratio of 3.99. The chart below compares the historical Sharpe Ratios of CWSGX and NESGX, 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

CWSGX vs. NESGX - Drawdown Comparison

The maximum CWSGX drawdown since its inception was -37.29%, smaller than the maximum NESGX drawdown of -50.29%. Use the drawdown chart below to compare losses from any high point for CWSGX and NESGX.

Drawdown Indicators

	CWSGX	NESGX	Difference
Max Drawdown Largest peak-to-trough decline	-37.29%	-50.29%	+13.00%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-17.16%	+5.19%
Max Drawdown (3Y) Largest decline over 3 years	-27.80%	-35.27%	+7.47%
Max Drawdown (5Y) Largest decline over 5 years	-37.29%	-50.05%	+12.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.29%	—
Current Drawdown Current decline from peak	0.00%	-0.40%	+0.40%
Average Drawdown Average peak-to-trough decline	-11.15%	-11.64%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	4.20%	-1.19%

Volatility

CWSGX vs. NESGX - Volatility Comparison

The current volatility for Chartwell Small Cap Growth Fund (CWSGX) is 8.74%, while Needham Small Cap Growth Fund (NESGX) has a volatility of 11.99%. This indicates that CWSGX experiences smaller price fluctuations and is considered to be less risky than NESGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWSGX	NESGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	11.99%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	18.91%	22.21%	-3.30%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	31.33%	-7.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	29.57%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.22%	26.02%	-1.80%

CWSGX vs. NESGX - Expense Ratio Comparison

CWSGX has a 1.05% expense ratio, which is lower than NESGX's 1.85% expense ratio.

Dividends

CWSGX vs. NESGX - Dividend Comparison

CWSGX's dividend yield for the trailing twelve months is around 0.64%, while NESGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWSGX Chartwell Small Cap Growth Fund	0.64%	0.87%	6.44%	0.00%	4.78%	21.74%	6.70%	0.03%	0.45%	0.02%	0.00%	0.00%
NESGX Needham Small Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	4.16%	25.09%	13.69%	8.43%	22.26%	8.94%	6.67%	2.52%

Frequently Asked Questions

Can I hold both CWSGX and NESGX in my portfolio?

CWSGX and NESGX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CWSGX or NESGX?

NESGX has higher volatility (11.99%) compared to CWSGX (8.74%). In terms of maximum drawdown, CWSGX dropped -37.29% vs NESGX's -50.29%.

Which has better risk-adjusted returns?

NESGX currently has the higher Sharpe Ratio (3.99 vs 2.73), 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.