NEAIX vs. AVALX

Last updated Apr 1, 2026

Compare and contrast key facts about Needham Aggressive Growth Fund Institutional Class (NEAIX) and Aegis Value Fund (AVALX).

NEAIX is an actively managed fund by Needham. It was launched on Dec 30, 2016. AVALX is managed by Aegis. It was launched on May 15, 1998.

Performance

NEAIX vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Needham Aggressive Growth Fund Institutional Class (NEAIX) and Aegis Value Fund (AVALX). The values are adjusted to include any dividend payments, if applicable.

NEAIX vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEAIX Needham Aggressive Growth Fund Institutional Class	7.37%	26.99%	14.86%	38.37%	-27.02%	38.46%	52.49%	44.68%	-15.64%	10.07%
AVALX Aegis Value Fund	13.53%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	15.24%

Returns By Period

In the year-to-date period, NEAIX achieves a 7.37% return, which is significantly lower than AVALX's 13.53% return.

NEAIX

• 1D: -3.89%
• 1M: -9.47%
• YTD: 7.37%
• 6M: 10.73%
• 1Y: 55.63%
• 3Y*: 25.66%
• 5Y*: 15.35%
• 10Y*: —

AVALX

• 1D: -0.54%
• 1M: -4.89%
• YTD: 13.53%
• 6M: 24.20%
• 1Y: 69.86%
• 3Y*: 28.86%
• 5Y*: 25.16%
• 10Y*: 21.54%

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

NEAIX vs. AVALX - Expense Ratio Comparison

NEAIX has a 1.20% expense ratio, which is lower than AVALX's 1.50% expense ratio.

AVALX

Aegis Value Fund

NEAIX

Needham Aggressive Growth Fund Institutional Class

Return for Risk

NEAIX vs. AVALX — Risk / Return Rank

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

NEAIX

NEAIX Risk / Return Rank: 91
NEAIX Sharpe Ratio Rank: 90
NEAIX Sortino Ratio Rank: 89
NEAIX Omega Ratio Rank: 84
NEAIX Calmar Ratio Rank: 96
NEAIX Martin Ratio Rank: 95

AVALX

AVALX Risk / Return Rank: 98
AVALX Sharpe Ratio Rank: 99
AVALX Sortino Ratio Rank: 97
AVALX Omega Ratio Rank: 96
AVALX Calmar Ratio Rank: 98
AVALX Martin Ratio Rank: 99

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.

NEAIX vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Aggressive Growth Fund Institutional Class (NEAIX) and Aegis Value Fund (AVALX). 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.

	NEAIX	AVALX	Difference
Sharpe ratio Return per unit of total volatility	1.89	3.30	-1.41
Sortino ratio Return per unit of downside risk	2.45	3.95	-1.50
Omega ratio Gain probability vs. loss probability	1.34	1.59	-0.26
Calmar ratio Return relative to maximum drawdown	3.57	5.11	-1.54
Martin ratio Return relative to average drawdown	12.81	24.92	-12.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEAIX vs. AVALX - Sharpe Ratio Comparison

The current NEAIX Sharpe Ratio is 1.89, which is lower than the AVALX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of NEAIX and AVALX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NEAIX	AVALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	3.30	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	1.12	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.53	+0.20

Correlation

The correlation between NEAIX and AVALX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NEAIX vs. AVALX - Dividend Comparison

NEAIX's dividend yield for the trailing twelve months is around 1.88%, less than AVALX's 2.06% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEAIX Needham Aggressive Growth Fund Institutional Class	1.88%	2.01%	0.00%	0.00%	0.00%	6.84%	3.80%	10.42%	16.35%	5.14%	0.00%	0.00%
AVALX Aegis Value Fund	2.06%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%

Drawdowns

NEAIX vs. AVALX - Drawdown Comparison

The maximum NEAIX drawdown since its inception was -35.93%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for NEAIX and AVALX.

Drawdown Indicators

	NEAIX	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-35.93%	-73.72%	+37.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.98%	-13.02%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-35.93%	-32.00%	-3.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.34%	—
Current Drawdown Current decline from peak	-11.55%	-6.09%	-5.46%
Average Drawdown Average peak-to-trough decline	-8.73%	-11.01%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	2.67%	+1.22%

Volatility

NEAIX vs. AVALX - Volatility Comparison

Needham Aggressive Growth Fund Institutional Class (NEAIX) has a higher volatility of 10.98% compared to Aegis Value Fund (AVALX) at 5.32%. This indicates that NEAIX's price experiences larger fluctuations and is considered to be riskier than AVALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEAIX	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.98%	5.32%	+5.66%
Volatility (6M) Calculated over the trailing 6-month period	19.41%	14.20%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	28.68%	21.15%	+7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.28%	22.62%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.42%	22.32%	+2.10%