NESGX vs. BSCFX
NESGX (Needham Small Cap Growth Fund) and BSCFX (Baron Small Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, NESGX returned 17.52%/yr vs 10.13%/yr for BSCFX. Their correlation of 0.81 means they have usually moved in the same direction. NESGX charges 1.85%/yr vs 1.29%/yr for BSCFX.
Performance
NESGX vs. BSCFX - Performance Comparison
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Returns By Period
In the year-to-date period, NESGX achieves a 52.82% return, which is significantly higher than BSCFX's 0.54% return. Over the past 10 years, NESGX has outperformed BSCFX with an annualized return of 17.52%, while BSCFX has yielded a comparatively lower 10.13% annualized return.
NESGX
- 1D
- 5.19%
- 1M
- -10.43%
- 6M
- 37.28%
- YTD
- 52.82%
- 1Y
- 74.25%
- 3Y*
- 23.55%
- 5Y*
- 5.21%
- 10Y*
- 17.52%
- ALL TIME*
- 12.75%
BSCFX
- 1D
- -0.55%
- 1M
- -4.06%
- 6M
- 0.35%
- YTD
- 0.54%
- 1Y
- -1.28%
- 3Y*
- 5.89%
- 5Y*
- 0.41%
- 10Y*
- 10.13%
- ALL TIME*
- 8.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BSCFX Baron Small Cap Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
NESGX vs. BSCFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NESGX Needham Small Cap Growth Fund | 52.82% | 10.50% | 12.76% | 5.68% | -30.21% | 10.59% | 71.90% | 54.42% | -5.43% | 11.96% |
BSCFX Baron Small Cap Fund | 0.54% | -0.92% | 13.11% | 26.90% | -31.19% | 15.42% | 40.38% | 34.60% | -7.39% | 27.34% |
Correlation
The correlation between NESGX and BSCFX is 0.60, 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. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 23, 2002 | 0.81 |
Over the past year, the correlation between NESGX and BSCFX has dropped to 0.60 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
NESGX vs. BSCFX — Risk / Return Rank
NESGX
BSCFX
NESGX vs. BSCFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund (NESGX) and Baron Small Cap Fund (BSCFX). 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.
| NESGX | BSCFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.99 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | -0.22 | +3.23 |
| Martin ratioReturn relative to average drawdown | 11.77 | -0.56 | +12.33 |
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Drawdowns
NESGX vs. BSCFX - Drawdown Comparison
The maximum NESGX drawdown since its inception was -50.29%, smaller than the maximum BSCFX drawdown of -55.59%. Use the drawdown chart below to compare losses from any high point for NESGX and BSCFX.
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Drawdown Indicators
| NESGX | BSCFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.29% | -55.59% | +5.30% |
Max Drawdown (1Y)Largest decline over 1 year | -22.14% | -15.00% | -7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -35.27% | -26.91% | -8.36% |
Max Drawdown (5Y)Largest decline over 5 years | -50.05% | -37.94% | -12.11% |
Max Drawdown (10Y)Largest decline over 10 years | -50.29% | -39.58% | -10.71% |
Current DrawdownCurrent decline from peak | -18.09% | -8.77% | -9.32% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -11.07% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.67% | 5.97% | -0.30% |
Volatility
NESGX vs. BSCFX - Volatility Comparison
Needham Small Cap Growth Fund (NESGX) has a higher volatility of 13.35% compared to Baron Small Cap Fund (BSCFX) at 4.65%. This indicates that NESGX's price experiences larger fluctuations and is considered to be riskier than BSCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NESGX | BSCFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.35% | 4.65% | +8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 26.13% | 13.86% | +12.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.31% | 18.25% | +16.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.16% | 22.45% | +7.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.40% | 22.38% | +4.02% |
NESGX vs. BSCFX - Expense Ratio Comparison
NESGX has a 1.85% expense ratio, which is higher than BSCFX's 1.29% expense ratio.
Dividends
NESGX vs. BSCFX - Dividend Comparison
NESGX has not paid dividends to shareholders, while BSCFX's dividend yield for the trailing twelve months is around 9.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSCFX Baron Small Cap Fund | 9.88% | 9.50% | 13.96% | 3.04% | 5.90% | 12.47% | 11.17% | 9.60% | 10.91% | 13.57% | 22.41% | 12.56% |
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% |
Frequently Asked Questions
NESGX and BSCFX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NESGX has higher volatility (13.35%) compared to BSCFX (4.65%). In terms of maximum drawdown, NESGX dropped -50.29% vs BSCFX's -55.59%.
NESGX currently has the higher Sharpe Ratio (1.94 vs -0.18), 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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