FAGKX vs. NEEIX

Last updated Jul 17, 2026

FAGKX (Fidelity Growth Strategies Fund Class K) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, FAGKX returned 5.20%/yr vs 12.97%/yr for NEEIX. Their correlation of 0.84 suggests significant overlap in exposure. FAGKX charges 0.52%/yr vs 1.21%/yr for NEEIX.

Performance

FAGKX vs. NEEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Strategies Fund Class K (FAGKX) and Needham Growth Fund Institutional Class (NEEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAGKX achieves a 8.18% return, which is significantly lower than NEEIX's 44.89% return.

FAGKX

• 1D: -0.63%
• 1M: -4.20%
• 6M: 2.64%
• YTD: 8.18%
• 1Y: -0.86%
• 3Y*: 10.95%
• 5Y*: 5.20%
• 10Y*: 10.94%

NEEIX

• 1D: -0.92%
• 1M: -7.32%
• 6M: 27.53%
• YTD: 44.89%
• 1Y: 63.04%
• 3Y*: 23.80%
• 5Y*: 12.97%
• 10Y*: —

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

FAGKX vs. NEEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGKX Fidelity Growth Strategies Fund Class K	8.18%	3.13%	17.83%	21.07%	-26.41%	21.43%	29.49%	36.75%	-6.77%	21.07%
NEEIX Needham Growth Fund Institutional Class	44.89%	9.32%	19.26%	27.30%	-33.26%	28.13%	42.39%	43.15%	-10.13%	8.47%

Correlation

The correlation between FAGKX and NEEIX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.84

The correlation between FAGKX and NEEIX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

FAGKX vs. NEEIX — Risk / Return Rank

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

FAGKX

FAGKX Risk / Return Rank: 3
FAGKX Sharpe Ratio Rank: 3
FAGKX Sortino Ratio Rank: 3
FAGKX Omega Ratio Rank: 3
FAGKX Calmar Ratio Rank: 3
FAGKX Martin Ratio Rank: 3

NEEIX

NEEIX Risk / Return Rank: 76
NEEIX Sharpe Ratio Rank: 76
NEEIX Sortino Ratio Rank: 60
NEEIX Omega Ratio Rank: 61
NEEIX Calmar Ratio Rank: 95
NEEIX Martin Ratio Rank: 90

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.

FAGKX vs. NEEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Strategies Fund Class K (FAGKX) 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.

	FAGKX	NEEIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	2.04	-2.05
Sortino ratio: Return per unit of downside risk	0.14	2.54	-2.39
Omega ratio: Gain probability vs. loss probability	1.02	1.33	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.01	4.79	-4.80
Martin ratio: Return relative to average drawdown	-0.03	13.87	-13.90

FAGKX vs. NEEIX - Sharpe Ratio Comparison

The current FAGKX Sharpe Ratio is -0.01, which is lower than the NEEIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of FAGKX and NEEIX, 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

FAGKX vs. NEEIX - Drawdown Comparison

The maximum FAGKX drawdown since its inception was -54.37%, which is greater than NEEIX's maximum drawdown of -43.11%. Use the drawdown chart below to compare losses from any high point for FAGKX and NEEIX.

Drawdown Indicators

	FAGKX	NEEIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.37%	-43.11%	-11.26%
Max Drawdown (1Y) Largest decline over 1 year	-20.29%	-13.22%	-7.07%
Max Drawdown (3Y) Largest decline over 3 years	-31.00%	-36.13%	+5.13%
Max Drawdown (5Y) Largest decline over 5 years	-36.57%	-43.11%	+6.54%
Max Drawdown (10Y) Largest decline over 10 years	-36.57%	—	—
Current Drawdown Current decline from peak	-7.05%	-12.52%	+5.47%
Average Drawdown Average peak-to-trough decline	-10.07%	-10.80%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.05%	4.56%	+3.49%

Volatility

FAGKX vs. NEEIX - Volatility Comparison

The current volatility for Fidelity Growth Strategies Fund Class K (FAGKX) is 6.84%, while Needham Growth Fund Institutional Class (NEEIX) has a volatility of 13.69%. This indicates that FAGKX 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.

Volatility by Period

	FAGKX	NEEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	13.69%	-6.85%
Volatility (6M) Calculated over the trailing 6-month period	17.59%	25.32%	-7.73%
Volatility (1Y) Calculated over the trailing 1-year period	23.27%	30.97%	-7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.80%	29.17%	-5.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.26%	26.18%	-3.92%

FAGKX vs. NEEIX - Expense Ratio Comparison

FAGKX has a 0.52% expense ratio, which is lower than NEEIX's 1.21% expense ratio.

Dividends

FAGKX vs. NEEIX - Dividend Comparison

FAGKX has not paid dividends to shareholders, while NEEIX's dividend yield for the trailing twelve months is around 4.94%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGKX Fidelity Growth Strategies Fund Class K	0.00%	0.00%	0.00%	0.16%	0.00%	13.99%	8.30%	3.73%	0.90%	0.05%	0.72%	0.29%
NEEIX Needham Growth Fund Institutional Class	4.94%	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

Can I hold both FAGKX and NEEIX in my portfolio?

FAGKX and NEEIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAGKX or NEEIX?

NEEIX has higher volatility (13.69%) compared to FAGKX (6.84%). In terms of maximum drawdown, FAGKX dropped -54.37% vs NEEIX's -43.11%.

Which has better risk-adjusted returns?

NEEIX currently has the higher Sharpe Ratio (2.04 vs -0.01), 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.