NEEGX vs. FMDGX
NEEGX (Needham Growth Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, NEEGX returned 8.99%/yr vs 4.37%/yr for FMDGX. Their correlation of 0.85 means they have usually moved in the same direction. NEEGX charges 1.78%/yr vs 0.05%/yr for FMDGX.
Performance
NEEGX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, NEEGX achieves a 35.60% return, which is significantly higher than FMDGX's 0.31% return.
NEEGX
- 1D
- 0.82%
- 1M
- -9.28%
- 6M
- 16.86%
- YTD
- 35.60%
- 1Y
- 52.57%
- 3Y*
- 17.29%
- 5Y*
- 8.99%
- 10Y*
- 14.25%
- ALL TIME*
- 12.62%
FMDGX
- 1D
- -0.28%
- 1M
- -4.14%
- 6M
- 0.83%
- YTD
- 0.31%
- 1Y
- -1.05%
- 3Y*
- 12.08%
- 5Y*
- 4.37%
- 10Y*
- —
- ALL TIME*
- 9.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
NEEGX Needham Growth Fund | $0.00 | $0.00 | $0.00 |
NEEGX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NEEGX Needham Growth Fund | 35.60% | 8.76% | 14.45% | 26.85% | -33.57% | 27.63% | 41.73% | 13.57% |
FMDGX Fidelity Mid Cap Growth Index Fund | 0.31% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
Correlation
The correlation between NEEGX and FMDGX is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.85 |
The correlation between NEEGX and FMDGX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
NEEGX vs. FMDGX — Risk / Return Rank
NEEGX
FMDGX
NEEGX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Needham Growth Fund (NEEGX) and Fidelity Mid Cap Growth Index Fund (FMDGX). 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.
| NEEGX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.99 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.18 | +2.36 |
| Martin ratioReturn relative to average drawdown | 8.91 | -0.51 | +9.42 |
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Drawdowns
NEEGX vs. FMDGX - Drawdown Comparison
The maximum NEEGX drawdown since its inception was -53.60%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for NEEGX and FMDGX.
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Drawdown Indicators
| NEEGX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.60% | -38.59% | -15.01% |
Max Drawdown (1Y)Largest decline over 1 year | -23.15% | -14.75% | -8.40% |
Max Drawdown (3Y)Largest decline over 3 years | -38.66% | -25.30% | -13.36% |
Max Drawdown (5Y)Largest decline over 5 years | -43.35% | -38.59% | -4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -43.35% | — | — |
Current DrawdownCurrent decline from peak | -17.98% | -6.46% | -11.52% |
Average DrawdownAverage peak-to-trough decline | -10.88% | -11.02% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.65% | 5.30% | +0.35% |
Volatility
NEEGX vs. FMDGX - Volatility Comparison
Needham Growth Fund (NEEGX) has a higher volatility of 12.54% compared to Fidelity Mid Cap Growth Index Fund (FMDGX) at 5.09%. This indicates that NEEGX's price experiences larger fluctuations and is considered to be riskier than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEEGX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.54% | 5.09% | +7.45% |
Volatility (6M)Calculated over the trailing 6-month period | 26.85% | 13.99% | +12.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.47% | 17.60% | +14.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.41% | 22.53% | +6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.90% | 24.22% | +1.68% |
NEEGX vs. FMDGX - Expense Ratio Comparison
NEEGX has a 1.78% expense ratio, which is higher than FMDGX's 0.05% expense ratio.
Dividends
NEEGX vs. FMDGX - Dividend Comparison
NEEGX's dividend yield for the trailing twelve months is around 5.58%, more than FMDGX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.85% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
NEEGX Needham Growth Fund | 5.58% | 7.57% | 3.92% | 0.00% | 1.78% | 6.92% | 5.73% | 11.31% | 17.79% | 9.70% | 4.22% | 6.74% |
Frequently Asked Questions
NEEGX and FMDGX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEEGX has higher volatility (12.54%) compared to FMDGX (5.09%). In terms of maximum drawdown, NEEGX dropped -53.60% vs FMDGX's -38.59%.
NEEGX currently has the higher Sharpe Ratio (1.55 vs -0.15), 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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