NCLEX vs. NEAIX
NCLEX (Nicholas Limited Edition Fund) and NEAIX (Needham Aggressive Growth Fund Institutional Class) are both Small Cap Growth Equities funds. Over the past 5 years, NCLEX returned -0.61%/yr vs 17.76%/yr for NEAIX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. NCLEX charges 0.85%/yr vs 1.20%/yr for NEAIX.
Performance
NCLEX vs. NEAIX - Performance Comparison
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Returns By Period
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%
NEAIX
- 1D
- 4.76%
- 1M
- -12.09%
- 6M
- 19.43%
- YTD
- 32.18%
- 1Y
- 49.74%
- 3Y*
- 24.92%
- 5Y*
- 17.76%
- 10Y*
- —
- ALL TIME*
- 19.55%
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. NEAIX - 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% |
NEAIX Needham Aggressive Growth Fund Institutional Class | 32.18% | 26.99% | 14.86% | 38.37% | -27.02% | 38.46% | 52.49% | 44.68% | -15.64% | 10.07% |
Correlation
The correlation between NCLEX and NEAIX is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.78 |
Over the past year, the correlation between NCLEX and NEAIX has dropped to 0.47 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
NCLEX vs. NEAIX — Risk / Return Rank
NCLEX
NEAIX
NCLEX vs. NEAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Needham Aggressive Growth Fund Institutional Class (NEAIX). 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 | NEAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.25 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.94 | -2.20 |
| Martin ratioReturn relative to average drawdown | -0.51 | 8.42 | -8.93 |
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Drawdowns
NCLEX vs. NEAIX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, which is greater than NEAIX's maximum drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for NCLEX and NEAIX.
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Drawdown Indicators
| NCLEX | NEAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -35.93% | -12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -20.88% | -24.09% | +3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -28.21% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -35.93% | +7.43% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | — | — |
Current DrawdownCurrent decline from peak | -16.34% | -20.48% | +4.14% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -8.60% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 5.53% | +5.12% |
Volatility
NCLEX vs. NEAIX - Volatility Comparison
The current volatility for Nicholas Limited Edition Fund (NCLEX) is 4.95%, while Needham Aggressive Growth Fund Institutional Class (NEAIX) has a volatility of 13.04%. This indicates that NCLEX experiences smaller price fluctuations and is considered to be less risky than NEAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLEX | NEAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 13.04% | -8.09% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 26.26% | -13.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 30.84% | -13.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 25.66% | -6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 25.07% | -5.85% |
NCLEX vs. NEAIX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is lower than NEAIX's 1.20% expense ratio.
Dividends
NCLEX vs. NEAIX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 7.53%, more than NEAIX's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NEAIX Needham Aggressive Growth Fund Institutional Class | 1.52% | 2.01% | 0.00% | 0.00% | 0.00% | 6.84% | 3.80% | 10.42% | 16.35% | 5.14% | 0.00% | 0.00% |
Frequently Asked Questions
NCLEX and NEAIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEAIX has higher volatility (13.04%) compared to NCLEX (4.95%). In terms of maximum drawdown, NCLEX dropped -48.68% vs NEAIX's -35.93%.
NEAIX currently has the higher Sharpe Ratio (1.51 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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