NCLEX vs. NSEIX
NCLEX (Nicholas Limited Edition Fund) and NSEIX (Nicholas Equity Income Fund) are both mutual funds - NCLEX is a Small Cap Growth Equities fund managed by Nicholas, while NSEIX is a Dividend fund managed by Nicholas. Over the past 10 years, NCLEX returned 7.50%/yr vs 10.07%/yr for NSEIX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. NCLEX charges 0.85%/yr vs 0.70%/yr for NSEIX.
Performance
NCLEX vs. NSEIX - Performance Comparison
Loading charts...
Returns By Period
Over the past 10 years, NCLEX has underperformed NSEIX with an annualized return of 7.50%, while NSEIX has yielded a comparatively higher 10.07% 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%
NSEIX
- 1D
- 0.04%
- 1M
- 0.68%
- 6M
- 4.83%
- YTD
- 9.17%
- 1Y
- 13.19%
- 3Y*
- 11.80%
- 5Y*
- 8.03%
- 10Y*
- 10.07%
- ALL TIME*
- 8.72%
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. NSEIX - 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% |
NSEIX Nicholas Equity Income Fund | 9.17% | 13.80% | 9.97% | 7.87% | -6.90% | 24.76% | 5.60% | 30.29% | -4.48% | 12.42% |
Correlation
The correlation between NCLEX and NSEIX is 0.64, 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. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 1993 | 0.80 |
The correlation between NCLEX and NSEIX shifts across timeframes, from 0.64 (1 year) to 0.80 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NCLEX vs. NSEIX — Risk / Return Rank
NCLEX
NSEIX
NCLEX vs. NSEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Nicholas Equity Income Fund (NSEIX). 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 | NSEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.21 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.58 | -1.85 |
| Martin ratioReturn relative to average drawdown | -0.51 | 4.92 | -5.43 |
Loading charts...
Drawdowns
NCLEX vs. NSEIX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, roughly equal to the maximum NSEIX drawdown of -48.12%. Use the drawdown chart below to compare losses from any high point for NCLEX and NSEIX.
Loading charts...
Drawdown Indicators
| NCLEX | NSEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -48.12% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -20.88% | -7.30% | -13.58% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -14.68% | -13.82% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -18.98% | -9.52% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -33.47% | -2.32% |
Current DrawdownCurrent decline from peak | -16.34% | -0.92% | -15.42% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -5.79% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 2.35% | +8.30% |
Volatility
NCLEX vs. NSEIX - Volatility Comparison
Nicholas Limited Edition Fund (NCLEX) has a higher volatility of 4.95% compared to Nicholas Equity Income Fund (NSEIX) at 3.04%. This indicates that NCLEX's price experiences larger fluctuations and is considered to be riskier than NSEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NCLEX | NSEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 3.04% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 7.34% | +5.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 10.03% | +7.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 13.62% | +6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 15.84% | +3.38% |
NCLEX vs. NSEIX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is higher than NSEIX's 0.70% expense ratio.
Dividends
NCLEX vs. NSEIX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 7.53%, more than NSEIX's 4.14% 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% |
NSEIX Nicholas Equity Income Fund | 4.14% | 10.85% | 4.03% | 4.28% | 3.92% | 11.53% | 1.97% | 13.05% | 17.55% | 6.83% | 3.85% | 7.26% |
Frequently Asked Questions
NCLEX and NSEIX have a correlation of 0.64, 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 NSEIX (3.04%). In terms of maximum drawdown, NCLEX dropped -48.68% vs NSEIX's -48.12%.
NSEIX currently has the higher Sharpe Ratio (1.16 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.
Find the right allocation for NCLEX and NSEIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer