NESGX vs. BDFIX
Compare and contrast key facts about Needham Small Cap Growth Fund (NESGX) and Baron Discovery Fund (BDFIX).
NESGX is managed by Needham. It was launched on May 22, 2002. BDFIX is managed by Baron Capital Group, Inc.. It was launched on Sep 30, 2013.
Performance
NESGX vs. BDFIX - Performance Comparison
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NESGX vs. BDFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NESGX Needham Small Cap Growth Fund | 9.51% | 10.50% | 12.76% | 5.68% | -30.21% | 10.59% | 71.90% | 54.42% | -5.43% | 11.96% |
BDFIX Baron Discovery Fund | -13.78% | 10.96% | 16.28% | 22.58% | -35.12% | 4.84% | 66.15% | 26.85% | 0.66% | 35.84% |
Returns By Period
In the year-to-date period, NESGX achieves a 9.51% return, which is significantly higher than BDFIX's -13.78% return. Over the past 10 years, NESGX has outperformed BDFIX with an annualized return of 14.30%, while BDFIX has yielded a comparatively lower 12.88% annualized return.
NESGX
- 1D
- -4.45%
- 1M
- -7.07%
- YTD
- 9.51%
- 6M
- 12.14%
- 1Y
- 47.82%
- 3Y*
- 10.96%
- 5Y*
- 0.71%
- 10Y*
- 14.30%
BDFIX
- 1D
- -0.57%
- 1M
- -12.67%
- YTD
- -13.78%
- 6M
- -13.61%
- 1Y
- 1.96%
- 3Y*
- 7.04%
- 5Y*
- -2.90%
- 10Y*
- 12.88%
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NESGX vs. BDFIX - Expense Ratio Comparison
NESGX has a 1.85% expense ratio, which is higher than BDFIX's 1.05% expense ratio.
Return for Risk
NESGX vs. BDFIX — Risk / Return Rank
NESGX
BDFIX
NESGX vs. BDFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund (NESGX) and Baron Discovery Fund (BDFIX). 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 | BDFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 0.06 | +1.26 |
Sortino ratioReturn per unit of downside risk | 1.88 | 0.27 | +1.61 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.03 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.05 | +2.44 |
Martin ratioReturn relative to average drawdown | 8.02 | -0.19 | +8.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NESGX | BDFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.06 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.11 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.51 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.46 | +0.05 |
Correlation
The correlation between NESGX and BDFIX is 0.81, 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.
Dividends
NESGX vs. BDFIX - Dividend Comparison
Neither NESGX nor BDFIX has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NESGX Needham Small Cap Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 4.16% | 25.09% | 13.69% | 8.43% | 22.26% | 8.94% | 6.67% | 2.52% |
BDFIX Baron Discovery Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.68% | 3.05% | 0.13% | 8.78% | 0.21% | 1.97% | 0.00% |
Drawdowns
NESGX vs. BDFIX - Drawdown Comparison
The maximum NESGX drawdown since its inception was -50.29%, which is greater than BDFIX's maximum drawdown of -46.39%. Use the drawdown chart below to compare losses from any high point for NESGX and BDFIX.
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Drawdown Indicators
| NESGX | BDFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.29% | -46.39% | -3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -17.27% | -17.94% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -50.05% | -45.38% | -4.67% |
Max Drawdown (10Y)Largest decline over 10 years | -50.29% | -46.39% | -3.90% |
Current DrawdownCurrent decline from peak | -9.15% | -21.60% | +12.45% |
Average DrawdownAverage peak-to-trough decline | -11.74% | -14.64% | +2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.13% | 4.86% | +0.27% |
Volatility
NESGX vs. BDFIX - Volatility Comparison
Needham Small Cap Growth Fund (NESGX) has a higher volatility of 10.96% compared to Baron Discovery Fund (BDFIX) at 6.26%. This indicates that NESGX's price experiences larger fluctuations and is considered to be riskier than BDFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NESGX | BDFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.96% | 6.26% | +4.70% |
Volatility (6M)Calculated over the trailing 6-month period | 22.87% | 13.70% | +9.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.07% | 24.03% | +11.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.08% | 26.33% | +2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.51% | 25.13% | +0.38% |