FGROX vs. NESIX
FGROX (Emerald Growth Fund Institutional Class) and NESIX (Needham Small Cap Growth Fund Institutional) are both Small Cap Growth Equities funds. Over the past 5 years, FGROX returned 11.88%/yr vs 5.79%/yr for NESIX. Their correlation of 0.84 means they have usually moved in the same direction. FGROX charges 0.78%/yr vs 1.18%/yr for NESIX.
Performance
FGROX vs. NESIX - Performance Comparison
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Returns By Period
In the year-to-date period, FGROX achieves a 23.86% return, which is significantly lower than NESIX's 53.35% return.
FGROX
- 1D
- 3.24%
- 1M
- -7.22%
- 6M
- 17.28%
- YTD
- 23.86%
- 1Y
- 52.15%
- 3Y*
- 25.21%
- 5Y*
- 11.88%
- 10Y*
- 14.95%
- ALL TIME*
- 12.99%
NESIX
- 1D
- 5.20%
- 1M
- -10.40%
- 6M
- 37.70%
- YTD
- 53.35%
- 1Y
- 75.27%
- 3Y*
- 24.27%
- 5Y*
- 5.79%
- 10Y*
- —
- ALL TIME*
- 17.33%
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 |
FGROX vs. NESIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGROX Emerald Growth Fund Institutional Class | 23.86% | 31.85% | 20.04% | 19.04% | -24.42% | 3.91% | 38.92% | 28.71% | -11.85% | 28.11% |
NESIX Needham Small Cap Growth Fund Institutional | 53.35% | 11.16% | 13.47% | 5.85% | -29.71% | 11.36% | 73.06% | 55.28% | -4.87% | 12.63% |
Correlation
The correlation between FGROX and NESIX is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.84 |
The correlation between FGROX and NESIX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
FGROX vs. NESIX — Risk / Return Rank
FGROX
NESIX
FGROX vs. NESIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Emerald Growth Fund Institutional Class (FGROX) and Needham Small Cap Growth Fund Institutional (NESIX). 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.
| FGROX | NESIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.05 | +0.43 |
| Martin ratioReturn relative to average drawdown | 12.27 | 11.98 | +0.29 |
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Drawdowns
FGROX vs. NESIX - Drawdown Comparison
The maximum FGROX drawdown since its inception was -41.48%, smaller than the maximum NESIX drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for FGROX and NESIX.
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Drawdown Indicators
| FGROX | NESIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.48% | -49.61% | +8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.36% | -22.10% | +7.74% |
Max Drawdown (3Y)Largest decline over 3 years | -28.61% | -35.21% | +6.60% |
Max Drawdown (5Y)Largest decline over 5 years | -38.52% | -49.61% | +11.09% |
Max Drawdown (10Y)Largest decline over 10 years | -41.48% | — | — |
Current DrawdownCurrent decline from peak | -10.43% | -18.05% | +7.62% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -14.87% | +4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 5.66% | -1.60% |
Volatility
FGROX vs. NESIX - Volatility Comparison
The current volatility for Emerald Growth Fund Institutional Class (FGROX) is 8.24%, while Needham Small Cap Growth Fund Institutional (NESIX) has a volatility of 13.35%. This indicates that FGROX experiences smaller price fluctuations and is considered to be less risky than NESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGROX | NESIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 13.35% | -5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.61% | 26.14% | -4.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.66% | 34.33% | -6.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.02% | 30.18% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.36% | 26.86% | -1.50% |
FGROX vs. NESIX - Expense Ratio Comparison
FGROX has a 0.78% expense ratio, which is lower than NESIX's 1.18% expense ratio.
Dividends
FGROX vs. NESIX - Dividend Comparison
FGROX's dividend yield for the trailing twelve months is around 9.20%, while NESIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FGROX Emerald Growth Fund Institutional Class | 9.20% | 11.39% | 13.92% | 5.91% | 8.13% | 17.87% | 8.04% | 1.38% | 11.36% | 0.00% |
NESIX Needham Small Cap Growth Fund Institutional | 0.00% | 0.00% | 0.00% | 0.00% | 3.93% | 23.92% | 13.26% | 8.25% | 21.96% | 8.89% |
Frequently Asked Questions
FGROX and NESIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NESIX has higher volatility (13.35%) compared to FGROX (8.24%). In terms of maximum drawdown, FGROX dropped -41.48% vs NESIX's -49.61%.
NESIX currently has the higher Sharpe Ratio (1.97 vs 1.81), 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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