NESGX vs. ^NDX

Last updated Apr 2, 2026

Compare and contrast key facts about Needham Small Cap Growth Fund (NESGX) and NASDAQ 100 Index (^NDX).

NESGX is managed by Needham. It was launched on May 22, 2002.

Performance

NESGX vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Needham Small Cap Growth Fund (NESGX) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

NESGX vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NESGX Needham Small Cap Growth Fund	15.34%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	11.96%
^NDX NASDAQ 100 Index	-4.87%	20.17%	24.88%	53.81%	-32.97%	26.63%	47.58%	37.96%	-1.04%	31.52%

Returns By Period

In the year-to-date period, NESGX achieves a 15.34% return, which is significantly higher than ^NDX's -4.87% return. Over the past 10 years, NESGX has underperformed ^NDX with an annualized return of 14.90%, while ^NDX has yielded a comparatively higher 18.15% annualized return.

NESGX

• 1D: 5.32%
• 1M: -3.72%
• YTD: 15.34%
• 6M: 15.45%
• 1Y: 55.17%
• 3Y*: 12.89%
• 5Y*: 1.14%
• 10Y*: 14.90%

^NDX

• 1D: 1.18%
• 1M: -3.89%
• YTD: -4.87%
• 6M: -3.15%
• 1Y: 23.58%
• 3Y*: 22.14%
• 5Y*: 12.50%
• 10Y*: 18.15%

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

Return for Risk

NESGX vs. ^NDX — Risk / Return Rank

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

NESGX

NESGX Risk / Return Rank: 83
NESGX Sharpe Ratio Rank: 81
NESGX Sortino Ratio Rank: 80
NESGX Omega Ratio Rank: 71
NESGX Calmar Ratio Rank: 93
NESGX Martin Ratio Rank: 89

^NDX

^NDX Risk / Return Rank: 76
^NDX Sharpe Ratio Rank: 70
^NDX Sortino Ratio Rank: 74
^NDX Omega Ratio Rank: 74
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

NESGX vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund (NESGX) and NASDAQ 100 Index (^NDX). 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.

	NESGX	^NDX	Difference
Sharpe ratio Return per unit of total volatility	1.58	1.04	+0.54
Sortino ratio Return per unit of downside risk	2.17	1.62	+0.55
Omega ratio Gain probability vs. loss probability	1.29	1.23	+0.06
Calmar ratio Return relative to maximum drawdown	3.11	1.93	+1.17
Martin ratio Return relative to average drawdown	10.44	7.05	+3.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NESGX vs. ^NDX - Sharpe Ratio Comparison

The current NESGX Sharpe Ratio is 1.58, which is higher than the ^NDX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of NESGX and ^NDX, 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

	NESGX	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.04	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.56	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.81	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.55	-0.02

Correlation

The correlation between NESGX and ^NDX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

NESGX vs. ^NDX - Drawdown Comparison

The maximum NESGX drawdown since its inception was -50.29%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for NESGX and ^NDX.

Drawdown Indicators

	NESGX	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-50.29%	-82.90%	+32.61%
Max Drawdown (1Y) Largest decline over 1 year	-17.27%	-12.72%	-4.55%
Max Drawdown (5Y) Largest decline over 5 years	-50.05%	-35.56%	-14.49%
Max Drawdown (10Y) Largest decline over 10 years	-50.29%	-35.56%	-14.73%
Current Drawdown Current decline from peak	-4.31%	-8.04%	+3.73%
Average Drawdown Average peak-to-trough decline	-11.74%	-24.72%	+12.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	3.49%	+1.65%

Volatility

NESGX vs. ^NDX - Volatility Comparison

Needham Small Cap Growth Fund (NESGX) has a higher volatility of 12.14% compared to NASDAQ 100 Index (^NDX) at 6.65%. This indicates that NESGX's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NESGX	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.14%	6.65%	+5.49%
Volatility (6M) Calculated over the trailing 6-month period	23.43%	12.93%	+10.50%
Volatility (1Y) Calculated over the trailing 1-year period	35.37%	22.77%	+12.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.13%	22.61%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.56%	22.48%	+3.08%