NCLEX vs. HASGX
NCLEX (Nicholas Limited Edition Fund) and HASGX (Harbor Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, NCLEX returned 7.50%/yr vs 12.08%/yr for HASGX. Their correlation of 0.91 means they have usually moved in the same direction. NCLEX charges 0.85%/yr vs 0.87%/yr for HASGX.
Performance
NCLEX vs. HASGX - Performance Comparison
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Returns By Period
Over the past 10 years, NCLEX has underperformed HASGX with an annualized return of 7.50%, while HASGX has yielded a comparatively higher 12.08% annualized return.
NCLEX
- 1D
- -1.13%
- 1M
- 0.20%
- 6M
- 0.08%
- YTD
- 0.00%
- 1Y
- -2.29%
- 3Y*
- 0.57%
- 5Y*
- -0.61%
- 10Y*
- 7.50%
- ALL TIME*
- 9.15%
HASGX
- 1D
- 1.89%
- 1M
- -5.52%
- 6M
- 6.21%
- YTD
- 12.21%
- 1Y
- 23.90%
- 3Y*
- 12.61%
- 5Y*
- 5.49%
- 10Y*
- 12.08%
- ALL TIME*
- 9.52%
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 |
NCLEX vs. HASGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | 0.00% | -10.41% | 11.91% | 17.17% | -23.71% | 19.07% | 22.67% | 27.36% | -0.94% | 19.93% |
HASGX Harbor Small Cap Growth Fund | 12.21% | 11.44% | 9.34% | 22.20% | -25.60% | 9.40% | 38.54% | 42.39% | -11.37% | 24.71% |
Correlation
The correlation between NCLEX and HASGX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2000 | 0.91 |
Over the past year, the correlation between NCLEX and HASGX has dropped to 0.59 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
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Return for Risk
NCLEX vs. HASGX — Risk / Return Rank
NCLEX
HASGX
NCLEX vs. HASGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Harbor Small Cap Growth Fund (HASGX). 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.
| NCLEX | HASGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.17 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.56 | -1.83 |
| Martin ratioReturn relative to average drawdown | -0.51 | 5.69 | -6.20 |
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Drawdowns
NCLEX vs. HASGX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, smaller than the maximum HASGX drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for NCLEX and HASGX.
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Drawdown Indicators
| NCLEX | HASGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -54.33% | +5.65% |
Max Drawdown (1Y)Largest decline over 1 year | -20.88% | -12.93% | -7.95% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -28.49% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -34.17% | +5.67% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -38.53% | +2.74% |
Current DrawdownCurrent decline from peak | -16.34% | -6.95% | -9.39% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -10.13% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 3.57% | +7.08% |
Volatility
NCLEX vs. HASGX - Volatility Comparison
Nicholas Limited Edition Fund (NCLEX) and Harbor Small Cap Growth Fund (HASGX) have volatilities of 4.95% and 4.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLEX | HASGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 4.76% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 16.98% | -4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 21.25% | -3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 23.50% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 23.19% | -3.97% |
NCLEX vs. HASGX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is lower than HASGX's 0.87% expense ratio.
Dividends
NCLEX vs. HASGX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 7.53%, more than HASGX's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HASGX Harbor Small Cap Growth Fund | 1.01% | 1.13% | 3.53% | 0.03% | 4.80% | 27.66% | 7.21% | 3.44% | 27.29% | 10.10% | 0.47% | 13.13% |
NCLEX Nicholas Limited Edition Fund | 7.53% | 7.53% | 2.51% | 2.43% | 6.22% | 16.44% | 5.10% | 5.66% | 10.72% | 7.97% | 10.68% | 8.05% |
Frequently Asked Questions
NCLEX and HASGX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCLEX has higher volatility (4.95%) compared to HASGX (4.76%). In terms of maximum drawdown, NCLEX dropped -48.68% vs HASGX's -54.33%.
HASGX currently has the higher Sharpe Ratio (0.95 vs -0.32), 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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