MMGEX vs. NEAGX

Last updated Aug 1, 2026

MMGEX (MassMutual Small Cap Growth Equity Fund) and NEAGX (Needham Aggressive Growth Fund Retail Class) are both Small Cap Growth Equities funds. Over the past 10 years, MMGEX returned 14.72%/yr vs 19.67%/yr for NEAGX. Their correlation of 0.87 means they have usually moved in the same direction. MMGEX charges 1.41%/yr vs 1.64%/yr for NEAGX.

Performance

MMGEX vs. NEAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Small Cap Growth Equity Fund (MMGEX) and Needham Aggressive Growth Fund Retail Class (NEAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMGEX achieves a 20.51% return, which is significantly lower than NEAGX's 31.89% return. Over the past 10 years, MMGEX has underperformed NEAGX with an annualized return of 14.72%, while NEAGX has yielded a comparatively higher 19.67% annualized return.

MMGEX

• 1D: 3.12%
• 1M: -3.67%
• 6M: 14.34%
• YTD: 20.51%
• 1Y: 35.12%
• 3Y*: 16.33%
• 5Y*: 5.81%
• 10Y*: 14.72%
• ALL TIME*: 8.20%

NEAGX

• 1D: 4.76%
• 1M: -12.12%
• 6M: 19.20%
• YTD: 31.89%
• 1Y: 49.17%
• 3Y*: 24.32%
• 5Y*: 17.14%
• 10Y*: 19.67%
• ALL TIME*: 12.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MMGEX MassMutual Small Cap Growth Equity Fund	$0.00	$0.00	$0.00
NEAGX Needham Aggressive Growth Fund Retail Class	$0.00	$0.00	$0.00

MMGEX vs. NEAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMGEX MassMutual Small Cap Growth Equity Fund	20.51%	10.66%	14.79%	16.35%	-26.21%	8.52%	40.08%	61.40%	-5.46%	24.28%
NEAGX Needham Aggressive Growth Fund Retail Class	31.89%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	8.75%

Correlation

The correlation between MMGEX and NEAGX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Aug 31, 2001	0.87

The correlation between MMGEX and NEAGX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

MMGEX vs. NEAGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MMGEX

MMGEX Risk / Return Rank: 66
MMGEX Sharpe Ratio Rank: 56
MMGEX Sortino Ratio Rank: 56
MMGEX Omega Ratio Rank: 49
MMGEX Calmar Ratio Rank: 85
MMGEX Martin Ratio Rank: 84

NEAGX

NEAGX Risk / Return Rank: 60
NEAGX Sharpe Ratio Rank: 64
NEAGX Sortino Ratio Rank: 56
NEAGX Omega Ratio Rank: 55
NEAGX Calmar Ratio Rank: 56
NEAGX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MMGEX vs. NEAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Small Cap Growth Equity Fund (MMGEX) and Needham Aggressive Growth Fund Retail Class (NEAGX). 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.

	MMGEX	NEAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.49	-0.02
Sortino ratio: Return per unit of downside risk	2.12	1.98	+0.14
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	3.01	1.91	+1.10
Martin ratio: Return relative to average drawdown	10.77	8.29	+2.48

MMGEX vs. NEAGX - Sharpe Ratio Comparison

The current MMGEX Sharpe Ratio is 1.47, which is comparable to the NEAGX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of MMGEX and NEAGX, 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

MMGEX vs. NEAGX - Drawdown Comparison

The maximum MMGEX drawdown since its inception was -63.65%, which is greater than NEAGX's maximum drawdown of -41.80%. Use the drawdown chart below to compare losses from any high point for MMGEX and NEAGX.

Drawdown Indicators

	MMGEX	NEAGX	Difference
Max Drawdown Largest peak-to-trough decline	-63.65%	-41.80%	-21.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-24.12%	+13.65%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-28.49%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-51.21%	-36.31%	-14.90%
Max Drawdown (10Y) Largest decline over 10 years	-51.21%	-36.31%	-14.90%
Current Drawdown Current decline from peak	-6.88%	-20.51%	+13.63%
Average Drawdown Average peak-to-trough decline	-23.31%	-8.67%	-14.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	5.54%	-2.60%

Volatility

MMGEX vs. NEAGX - Volatility Comparison

The current volatility for MassMutual Small Cap Growth Equity Fund (MMGEX) is 6.74%, while Needham Aggressive Growth Fund Retail Class (NEAGX) has a volatility of 13.05%. This indicates that MMGEX experiences smaller price fluctuations and is considered to be less risky than NEAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMGEX	NEAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	13.05%	-6.31%
Volatility (6M) Calculated over the trailing 6-month period	17.21%	26.27%	-9.06%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	30.84%	-9.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.60%	25.66%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.04%	24.70%	+4.34%

MMGEX vs. NEAGX - Expense Ratio Comparison

MMGEX has a 1.41% expense ratio, which is lower than NEAGX's 1.64% expense ratio.

Dividends

MMGEX vs. NEAGX - Dividend Comparison

MMGEX's dividend yield for the trailing twelve months is around 31.48%, more than NEAGX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMGEX MassMutual Small Cap Growth Equity Fund	31.48%	37.94%	8.94%	0.00%	0.00%	44.40%	10.36%	32.83%	29.40%	6.91%	0.00%	33.83%
NEAGX Needham Aggressive Growth Fund Retail Class	1.62%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%

Frequently Asked Questions

Can I hold both MMGEX and NEAGX in my portfolio?

With a correlation of 0.90, MMGEX and NEAGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MMGEX or NEAGX?

NEAGX has higher volatility (13.05%) compared to MMGEX (6.74%). In terms of maximum drawdown, MMGEX dropped -63.65% vs NEAGX's -41.80%.

Which has better risk-adjusted returns?

NEAGX currently has the higher Sharpe Ratio (1.49 vs 1.47), 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.