NCLEX vs. VRTGX
NCLEX (Nicholas Limited Edition Fund) and VRTGX (Vanguard Russell 2000 Growth Index Fund Institutional Shares) are both Small Cap Growth Equities funds. Over the past 10 years, NCLEX returned 7.50%/yr vs 10.75%/yr for VRTGX. Their correlation of 0.92 means they have usually moved in the same direction. NCLEX charges 0.85%/yr vs 0.08%/yr for VRTGX.
Performance
NCLEX vs. VRTGX - Performance Comparison
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Returns By Period
Over the past 10 years, NCLEX has underperformed VRTGX with an annualized return of 7.50%, while VRTGX has yielded a comparatively higher 10.75% 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%
VRTGX
- 1D
- 2.66%
- 1M
- -3.48%
- 6M
- 11.45%
- YTD
- 15.88%
- 1Y
- 32.01%
- 3Y*
- 14.65%
- 5Y*
- 5.27%
- 10Y*
- 10.75%
- ALL TIME*
- 11.85%
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. VRTGX - 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% |
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares | 15.88% | 12.97% | 15.26% | 18.80% | -26.30% | 2.82% | 34.81% | 28.84% | -9.21% | 22.27% |
Correlation
The correlation between NCLEX and VRTGX is 0.63, 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. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.92 |
Over the past year, the correlation between NCLEX and VRTGX has dropped to 0.63 - well below their long-term average of 0.92, suggesting their price drivers have been diverging.
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Return for Risk
NCLEX vs. VRTGX — Risk / Return Rank
NCLEX
VRTGX
NCLEX vs. VRTGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX). 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 | VRTGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.22 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.93 | -2.19 |
| Martin ratioReturn relative to average drawdown | -0.51 | 6.67 | -7.18 |
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Drawdowns
NCLEX vs. VRTGX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, which is greater than VRTGX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for NCLEX and VRTGX.
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Drawdown Indicators
| NCLEX | VRTGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -41.97% | -6.71% |
Max Drawdown (1Y)Largest decline over 1 year | -20.88% | -14.80% | -6.08% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -28.54% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -40.48% | +11.98% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -41.97% | +6.18% |
Current DrawdownCurrent decline from peak | -16.34% | -5.20% | -11.14% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -10.36% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 4.28% | +6.37% |
Volatility
NCLEX vs. VRTGX - Volatility Comparison
The current volatility for Nicholas Limited Edition Fund (NCLEX) is 4.95%, while Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) has a volatility of 5.76%. This indicates that NCLEX experiences smaller price fluctuations and is considered to be less risky than VRTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLEX | VRTGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 5.76% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 17.18% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 22.44% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 24.70% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 24.56% | -5.34% |
NCLEX vs. VRTGX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is higher than VRTGX's 0.08% expense ratio.
Dividends
NCLEX vs. VRTGX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 7.53%, more than VRTGX's 0.63% 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% |
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares | 0.63% | 0.57% | 0.62% | 0.85% | 0.78% | 0.54% | 0.53% | 0.90% | 0.85% | 0.75% | 1.07% | 0.84% |
Frequently Asked Questions
NCLEX and VRTGX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VRTGX has higher volatility (5.76%) compared to NCLEX (4.95%). In terms of maximum drawdown, NCLEX dropped -48.68% vs VRTGX's -41.97%.
VRTGX currently has the higher Sharpe Ratio (1.27 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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