LMOIX vs. NESIX

Last updated Jun 4, 2026

LMOIX (ClearBridge Small Cap Growth Fund Class IS) and NESIX (Needham Small Cap Growth Fund Institutional) are both Small Cap Growth Equities funds. Over the past 5 years, LMOIX returned 2.55%/yr vs 10.97%/yr for NESIX. Their correlation of 0.83 suggests significant overlap in exposure. LMOIX charges 0.78%/yr vs 1.18%/yr for NESIX.

Performance

LMOIX vs. NESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge Small Cap Growth Fund Class IS (LMOIX) and Needham Small Cap Growth Fund Institutional (NESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMOIX achieves a 12.73% return, which is significantly lower than NESIX's 82.25% return.

LMOIX

• 1D: 0.52%
• 1M: 1.42%
• YTD: 12.73%
• 6M: 10.98%
• 1Y: 25.26%
• 3Y*: 14.10%
• 5Y*: 2.55%
• 10Y*: 12.20%

NESIX

• 1D: 4.01%
• 1M: 22.94%
• YTD: 82.25%
• 6M: 79.70%
• 1Y: 125.34%
• 3Y*: 33.75%
• 5Y*: 10.97%
• 10Y*: —

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

LMOIX vs. NESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMOIX ClearBridge Small Cap Growth Fund Class IS	12.73%	9.91%	12.06%	9.12%	-28.55%	12.53%	44.09%	25.86%	4.22%	24.38%
NESIX Needham Small Cap Growth Fund Institutional	82.25%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%

Correlation

The correlation between LMOIX and NESIX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.83

The correlation between LMOIX and NESIX has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

Return for Risk

LMOIX vs. NESIX — Risk / Return Rank

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

LMOIX

LMOIX Risk / Return Rank: 24
LMOIX Sharpe Ratio Rank: 21
LMOIX Sortino Ratio Rank: 20
LMOIX Omega Ratio Rank: 19
LMOIX Calmar Ratio Rank: 28
LMOIX Martin Ratio Rank: 31

NESIX

NESIX Risk / Return Rank: 95
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 93
NESIX Omega Ratio Rank: 88
NESIX Calmar Ratio Rank: 98
NESIX 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.

LMOIX vs. NESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge Small Cap Growth Fund Class IS (LMOIX) 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.

	LMOIX	NESIX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	4.41	-3.07
Sortino ratio: Return per unit of downside risk	1.89	4.72	-2.83
Omega ratio: Gain probability vs. loss probability	1.23	1.61	-0.38
Calmar ratio: Return relative to maximum drawdown	1.97	7.79	-5.82
Martin ratio: Return relative to average drawdown	7.11	32.30	-25.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMOIX vs. NESIX - Sharpe Ratio Comparison

The current LMOIX Sharpe Ratio is 1.33, which is lower than the NESIX Sharpe Ratio of 4.41. The chart below compares the historical Sharpe Ratios of LMOIX and NESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LMOIX	NESIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	4.41	-3.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.38	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.75	-0.31

Drawdowns

LMOIX vs. NESIX - Drawdown Comparison

The maximum LMOIX drawdown since its inception was -51.02%, roughly equal to the maximum NESIX drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for LMOIX and NESIX.

Drawdown Indicators

	LMOIX	NESIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.02%	-49.61%	-1.41%
Max Drawdown (1Y) Largest decline over 1 year	-13.78%	-17.12%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-26.22%	-35.21%	+8.99%
Max Drawdown (5Y) Largest decline over 5 years	-41.74%	-49.61%	+7.87%
Max Drawdown (10Y) Largest decline over 10 years	-41.74%	—	—
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-12.38%	-15.00%	+2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	4.12%	-0.31%

Volatility

LMOIX vs. NESIX - Volatility Comparison

The current volatility for ClearBridge Small Cap Growth Fund Class IS (LMOIX) is 5.62%, while Needham Small Cap Growth Fund Institutional (NESIX) has a volatility of 8.71%. This indicates that LMOIX 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.

Volatility by Period

	LMOIX	NESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	8.71%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	21.13%	-5.30%
Volatility (1Y) Calculated over the trailing 1-year period	20.35%	30.27%	-9.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.52%	29.29%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.79%	26.44%	-2.65%

LMOIX vs. NESIX - Expense Ratio Comparison

LMOIX has a 0.78% expense ratio, which is lower than NESIX's 1.18% expense ratio.

Dividends

LMOIX vs. NESIX - Dividend Comparison

LMOIX's dividend yield for the trailing twelve months is around 15.05%, while NESIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMOIX ClearBridge Small Cap Growth Fund Class IS	15.05%	16.96%	14.66%	0.38%	0.00%	10.44%	6.31%	6.91%	14.40%	3.30%	2.82%	1.18%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LMOIX and NESIX in my portfolio?

LMOIX and NESIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LMOIX or NESIX?

NESIX has higher volatility (8.71%) compared to LMOIX (5.62%). In terms of maximum drawdown, LMOIX dropped -51.02% vs NESIX's -49.61%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.41 vs 1.33), 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.