NEAGX vs. DMCRX

Last updated Jul 14, 2026

NEAGX (Needham Aggressive Growth Fund) and DMCRX (Driehaus Micro Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, NEAGX returned 21.19%/yr vs 22.13%/yr for DMCRX. Their correlation of 0.82 suggests significant overlap in exposure. NEAGX charges 1.86%/yr vs 1.38%/yr for DMCRX.

Performance

NEAGX vs. DMCRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Needham Aggressive Growth Fund (NEAGX) and Driehaus Micro Cap Growth Fund (DMCRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEAGX achieves a 49.38% return, which is significantly higher than DMCRX's 31.07% return. Both investments have delivered pretty close results over the past 10 years, with NEAGX having a 21.19% annualized return and DMCRX not far ahead at 22.13%.

NEAGX

• 1D: -0.74%
• 1M: -5.50%
• 6M: 38.51%
• YTD: 49.38%
• 1Y: 69.74%
• 3Y*: 32.30%
• 5Y*: 20.17%
• 10Y*: 21.19%

DMCRX

• 1D: -1.50%
• 1M: 6.38%
• 6M: 22.94%
• YTD: 31.07%
• 1Y: 79.24%
• 3Y*: 30.91%
• 5Y*: 11.43%
• 10Y*: 22.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NEAGX vs. DMCRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEAGX Needham Aggressive Growth Fund	49.38%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	8.75%
DMCRX Driehaus Micro Cap Growth Fund	31.07%	31.17%	30.58%	11.47%	-33.54%	22.23%	86.43%	34.03%	2.52%	24.35%

Correlation

The correlation between NEAGX and DMCRX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013	0.82

The correlation between NEAGX and DMCRX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

NEAGX vs. DMCRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEAGX

NEAGX Risk / Return Rank: 86
NEAGX Sharpe Ratio Rank: 88
NEAGX Sortino Ratio Rank: 76
NEAGX Omega Ratio Rank: 76
NEAGX Calmar Ratio Rank: 96
NEAGX Martin Ratio Rank: 95

DMCRX

DMCRX Risk / Return Rank: 89
DMCRX Sharpe Ratio Rank: 93
DMCRX Sortino Ratio Rank: 81
DMCRX Omega Ratio Rank: 79
DMCRX Calmar Ratio Rank: 96
DMCRX Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NEAGX vs. DMCRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Aggressive Growth Fund (NEAGX) and Driehaus Micro Cap Growth Fund (DMCRX). 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.

	NEAGX	DMCRX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.58	-0.23
Sortino ratio: Return per unit of downside risk	2.82	3.06	-0.24
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	4.92	4.98	-0.06
Martin ratio: Return relative to average drawdown	17.45	17.17	+0.28

NEAGX vs. DMCRX - Sharpe Ratio Comparison

The current NEAGX Sharpe Ratio is 2.36, which is comparable to the DMCRX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of NEAGX and DMCRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NEAGX vs. DMCRX - Drawdown Comparison

The maximum NEAGX drawdown since its inception was -41.80%, smaller than the maximum DMCRX drawdown of -46.68%. Use the drawdown chart below to compare losses from any high point for NEAGX and DMCRX.

Drawdown Indicators

	NEAGX	DMCRX	Difference
Max Drawdown Largest peak-to-trough decline	-41.80%	-46.68%	+4.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.01%	-15.46%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-28.49%	-34.92%	+6.43%
Max Drawdown (5Y) Largest decline over 5 years	-36.31%	-46.68%	+10.37%
Max Drawdown (10Y) Largest decline over 10 years	-36.31%	-46.68%	+10.37%
Current Drawdown Current decline from peak	-9.96%	-2.19%	-7.77%
Average Drawdown Average peak-to-trough decline	-8.65%	-14.74%	+6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	4.47%	-0.53%

Volatility

NEAGX vs. DMCRX - Volatility Comparison

Needham Aggressive Growth Fund (NEAGX) has a higher volatility of 13.68% compared to Driehaus Micro Cap Growth Fund (DMCRX) at 8.72%. This indicates that NEAGX's price experiences larger fluctuations and is considered to be riskier than DMCRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEAGX	DMCRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.68%	8.72%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	24.59%	22.72%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	29.25%	29.82%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.36%	28.72%	-3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.50%	28.01%	-3.51%

NEAGX vs. DMCRX - Expense Ratio Comparison

NEAGX has a 1.86% expense ratio, which is higher than DMCRX's 1.38% expense ratio.

Dividends

NEAGX vs. DMCRX - Dividend Comparison

NEAGX's dividend yield for the trailing twelve months is around 1.43%, less than DMCRX's 10.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMCRX Driehaus Micro Cap Growth Fund	10.47%	13.72%	3.86%	0.87%	8.20%	48.23%	19.79%	14.70%	33.22%	8.91%	0.00%	4.20%
NEAGX Needham Aggressive Growth Fund	1.43%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%

Frequently Asked Questions

Can I hold both NEAGX and DMCRX in my portfolio?

NEAGX and DMCRX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEAGX or DMCRX?

NEAGX has higher volatility (13.68%) compared to DMCRX (8.72%). In terms of maximum drawdown, NEAGX dropped -41.80% vs DMCRX's -46.68%.

Which has better risk-adjusted returns?

DMCRX currently has the higher Sharpe Ratio (2.58 vs 2.35), 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.