NCTWX vs. PMEGX
NCTWX (Nicholas II Fund) and PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, NCTWX returned 9.76%/yr vs 9.78%/yr for PMEGX. Their correlation of 0.94 means they have usually moved in the same direction. NCTWX charges 0.59%/yr vs 0.61%/yr for PMEGX.
Performance
NCTWX vs. PMEGX - Performance Comparison
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Returns By Period
In the year-to-date period, NCTWX achieves a 5.91% return, which is significantly higher than PMEGX's 3.03% return. Both investments have delivered pretty close results over the past 10 years, with NCTWX having a 9.76% annualized return and PMEGX not far ahead at 9.78%.
NCTWX
- 1D
- -0.42%
- 1M
- 2.38%
- 6M
- 4.02%
- YTD
- 5.91%
- 1Y
- 3.38%
- 3Y*
- 5.49%
- 5Y*
- 2.70%
- 10Y*
- 9.76%
- ALL TIME*
- 9.92%
PMEGX
- 1D
- 0.47%
- 1M
- -1.53%
- 6M
- 2.67%
- YTD
- 3.03%
- 1Y
- 6.19%
- 3Y*
- 6.28%
- 5Y*
- 2.15%
- 10Y*
- 9.78%
- ALL TIME*
- 10.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
NCTWX Nicholas II Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
NCTWX vs. PMEGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | 5.91% | -1.27% | 6.74% | 19.89% | -18.03% | 21.58% | 15.73% | 34.90% | -4.20% | 25.65% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 3.03% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 26.02% |
Correlation
The correlation between NCTWX and PMEGX is 0.87, 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. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 1996 | 0.94 |
The correlation between NCTWX and PMEGX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
NCTWX vs. PMEGX — Risk / Return Rank
NCTWX
PMEGX
NCTWX vs. PMEGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas II Fund (NCTWX) and T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX). 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.
| NCTWX | PMEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.06 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.05 | 0.41 | -0.36 |
| Martin ratioReturn relative to average drawdown | 0.13 | 1.39 | -1.26 |
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Drawdowns
NCTWX vs. PMEGX - Drawdown Comparison
The maximum NCTWX drawdown since its inception was -46.46%, smaller than the maximum PMEGX drawdown of -55.88%. Use the drawdown chart below to compare losses from any high point for NCTWX and PMEGX.
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Drawdown Indicators
| NCTWX | PMEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.46% | -55.88% | +9.42% |
Max Drawdown (1Y)Largest decline over 1 year | -14.83% | -10.21% | -4.62% |
Max Drawdown (3Y)Largest decline over 3 years | -20.63% | -27.99% | +7.36% |
Max Drawdown (5Y)Largest decline over 5 years | -25.89% | -32.87% | +6.98% |
Max Drawdown (10Y)Largest decline over 10 years | -36.61% | -37.16% | +0.55% |
Current DrawdownCurrent decline from peak | -2.83% | -6.20% | +3.37% |
Average DrawdownAverage peak-to-trough decline | -6.89% | -8.99% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.07% | 3.04% | +3.03% |
Volatility
NCTWX vs. PMEGX - Volatility Comparison
Nicholas II Fund (NCTWX) has a higher volatility of 3.85% compared to T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) at 2.50%. This indicates that NCTWX's price experiences larger fluctuations and is considered to be riskier than PMEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCTWX | PMEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 2.50% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 10.49% | +1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.43% | 13.64% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 20.11% | -1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 19.75% | -1.50% |
NCTWX vs. PMEGX - Expense Ratio Comparison
NCTWX has a 0.59% expense ratio, which is lower than PMEGX's 0.61% expense ratio.
Dividends
NCTWX vs. PMEGX - Dividend Comparison
NCTWX's dividend yield for the trailing twelve months is around 11.74%, less than PMEGX's 20.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | 11.74% | 12.43% | 5.21% | 0.72% | 3.92% | 9.86% | 3.79% | 11.36% | 12.57% | 11.02% | 5.11% | 6.40% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.48% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
Frequently Asked Questions
NCTWX and PMEGX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCTWX has higher volatility (3.85%) compared to PMEGX (2.50%). In terms of maximum drawdown, NCTWX dropped -46.46% vs PMEGX's -55.88%.
PMEGX currently has the higher Sharpe Ratio (0.31 vs 0.05), 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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