NEAGX vs. NESIX

Last updated Jun 4, 2026

NEAGX (Needham Aggressive Growth Fund) and NESIX (Needham Small Cap Growth Fund Institutional) are both Small Cap Growth Equities funds from Needham. Over the past 5 years, NEAGX returned 23.60%/yr vs 10.97%/yr for NESIX. Their correlation of 0.88 suggests significant overlap in exposure. NEAGX charges 1.86%/yr vs 1.18%/yr for NESIX.

Performance

NEAGX vs. NESIX - Performance Comparison

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

Returns By Period

In the year-to-date period, NEAGX achieves a 59.55% return, which is significantly lower than NESIX's 82.25% return.

NEAGX

• 1D: 3.25%
• 1M: 17.09%
• YTD: 59.55%
• 6M: 61.01%
• 1Y: 96.36%
• 3Y*: 38.65%
• 5Y*: 23.60%
• 10Y*: 22.51%

NESIX

• 1D: 4.01%
• 1M: 22.94%
• YTD: 82.25%
• 6M: 79.70%
• 1Y: 125.34%
• 3Y*: 33.75%
• 5Y*: 10.97%
• 10Y*: —

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

NEAGX vs. NESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEAGX Needham Aggressive Growth Fund	59.55%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	9.48%
NESIX Needham Small Cap Growth Fund Institutional	82.25%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%

Correlation

The correlation between NEAGX and NESIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.88

The correlation between NEAGX and NESIX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

NEAGX vs. NESIX — Risk / Return Rank

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

NEAGX

NEAGX Risk / Return Rank: 94
NEAGX Sharpe Ratio Rank: 98
NEAGX Sortino Ratio Rank: 90
NEAGX Omega Ratio Rank: 86
NEAGX Calmar Ratio Rank: 97
NEAGX Martin Ratio Rank: 98

NESIX

NESIX Risk / Return Rank: 95
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 93
NESIX Omega Ratio Rank: 88
NESIX Calmar Ratio Rank: 98
NESIX Martin Ratio Rank: 98

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. NESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Aggressive Growth Fund (NEAGX) and Needham Small Cap Growth Fund Institutional (NESIX). 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.

	NEAGX	NESIX	Difference
Sharpe ratio: Return per unit of total volatility	3.91	4.41	-0.50
Sortino ratio: Return per unit of downside risk	4.40	4.72	-0.32
Omega ratio: Gain probability vs. loss probability	1.59	1.61	-0.02
Calmar ratio: Return relative to maximum drawdown	7.20	7.79	-0.59
Martin ratio: Return relative to average drawdown	29.00	32.30	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEAGX vs. NESIX - Sharpe Ratio Comparison

The current NEAGX Sharpe Ratio is 3.91, which is comparable to the NESIX Sharpe Ratio of 4.41. The chart below compares the historical Sharpe Ratios of NEAGX and NESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NEAGX	NESIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.91	4.41	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.38	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.75	-0.09

Drawdowns

NEAGX vs. NESIX - Drawdown Comparison

The maximum NEAGX drawdown since its inception was -41.80%, smaller than the maximum NESIX drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for NEAGX and NESIX.

Drawdown Indicators

	NEAGX	NESIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.80%	-49.61%	+7.81%
Max Drawdown (1Y) Largest decline over 1 year	-14.01%	-17.12%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	-28.49%	-35.21%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-36.31%	-49.61%	+13.30%
Max Drawdown (10Y) Largest decline over 10 years	-36.31%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.67%	-15.00%	+6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	4.12%	-0.65%

Volatility

NEAGX vs. NESIX - Volatility Comparison

Needham Aggressive Growth Fund (NEAGX) has a higher volatility of 10.14% compared to Needham Small Cap Growth Fund Institutional (NESIX) at 8.71%. This indicates that NEAGX's price experiences larger fluctuations and is considered to be riskier than NESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEAGX	NESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	8.71%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	20.45%	21.13%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	25.81%	30.27%	-4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	29.29%	-4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.15%	26.44%	-2.29%

NEAGX vs. NESIX - Expense Ratio Comparison

NEAGX has a 1.86% expense ratio, which is higher than NESIX's 1.18% expense ratio.

Dividends

NEAGX vs. NESIX - Dividend Comparison

NEAGX's dividend yield for the trailing twelve months is around 1.34%, while NESIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEAGX Needham Aggressive Growth Fund	1.34%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%
NESIX Needham Small Cap Growth Fund Institutional	0.00%	0.00%	0.00%	0.00%	3.93%	23.92%	13.26%	8.25%	21.96%	8.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NEAGX and NESIX in my portfolio?

With a correlation of 0.94, NEAGX and NESIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NEAGX or NESIX?

NEAGX has higher volatility (10.14%) compared to NESIX (8.71%). In terms of maximum drawdown, NEAGX dropped -41.80% vs NESIX's -49.61%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.41 vs 3.91), 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.