NESGX vs. NESIX

Last updated Jun 3, 2026

NESGX (Needham Small Cap Growth Fund) and NESIX (Needham Small Cap Growth Fund Institutional) are both Small Cap Growth Equities funds from Needham. Over the past 5 years, NESGX returned 9.34%/yr vs 9.94%/yr for NESIX. With a 1.00 correlation, they move nearly in lockstep. NESGX charges 1.85%/yr vs 1.18%/yr for NESIX.

Performance

NESGX vs. NESIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with NESGX having a 74.77% return and NESIX slightly higher at 75.22%.

NESGX

• 1D: 1.48%
• 1M: 18.07%
• YTD: 74.77%
• 6M: 77.64%
• 1Y: 122.24%
• 3Y*: 31.38%
• 5Y*: 9.34%
• 10Y*: 19.69%

NESIX

• 1D: 1.51%
• 1M: 18.12%
• YTD: 75.22%
• 6M: 78.14%
• 1Y: 123.59%
• 3Y*: 32.00%
• 5Y*: 9.94%
• 10Y*: —

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

NESGX vs. NESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NESGX Needham Small Cap Growth Fund	74.77%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	12.03%
NESIX Needham Small Cap Growth Fund Institutional	75.22%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%

Correlation

The correlation between NESGX and NESIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	1.00

The correlation between NESGX and NESIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

NESGX vs. NESIX — Risk / Return Rank

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

NESGX

NESGX Risk / Return Rank: 94
NESGX Sharpe Ratio Rank: 98
NESGX Sortino Ratio Rank: 91
NESGX Omega Ratio Rank: 86
NESGX Calmar Ratio Rank: 97
NESGX Martin Ratio Rank: 97

NESIX

NESIX Risk / Return Rank: 94
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 91
NESIX Omega Ratio Rank: 86
NESIX Calmar Ratio Rank: 97
NESIX Martin Ratio Rank: 98

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. NESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund (NESGX) and Needham Small Cap Growth Fund Institutional (NESIX). 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	NESIX	Difference
Sharpe ratio Return per unit of total volatility	4.11	4.16	-0.04
Sortino ratio Return per unit of downside risk	4.49	4.52	-0.03
Omega ratio Gain probability vs. loss probability	1.58	1.59	0.00
Calmar ratio Return relative to maximum drawdown	6.96	7.05	-0.09
Martin ratio Return relative to average drawdown	28.90	29.28	-0.38
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. NESIX - Sharpe Ratio Comparison

The current NESGX Sharpe Ratio is 4.11, which is comparable to the NESIX Sharpe Ratio of 4.16. The chart below compares the historical Sharpe Ratios of NESGX and NESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NESGX	NESIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.11	4.16	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.34	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.73	-0.13

Drawdowns

NESGX vs. NESIX - Drawdown Comparison

The maximum NESGX drawdown since its inception was -50.29%, roughly equal to the maximum NESIX drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for NESGX and NESIX.

Drawdown Indicators

	NESGX	NESIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.29%	-49.61%	-0.68%
Max Drawdown (1Y) Largest decline over 1 year	-17.16%	-17.12%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.27%	-35.21%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-50.05%	-49.61%	-0.44%
Max Drawdown (10Y) Largest decline over 10 years	-50.29%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.66%	-15.00%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	4.12%	+0.01%

Volatility

NESGX vs. NESIX - Volatility Comparison

Needham Small Cap Growth Fund (NESGX) and Needham Small Cap Growth Fund Institutional (NESIX) have volatilities of 8.14% and 8.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NESGX	NESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.14%	8.14%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	20.82%	20.86%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	30.08%	30.10%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.22%	29.24%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.80%	26.42%	-0.62%

NESGX vs. NESIX - Expense Ratio Comparison

NESGX has a 1.85% expense ratio, which is higher than NESIX's 1.18% expense ratio.

Dividends

NESGX vs. NESIX - Dividend Comparison

Neither NESGX nor NESIX has paid dividends to shareholders.

Position	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%
NESIX Needham Small Cap Growth Fund Institutional	0.00%	0.00%	0.00%	0.00%	3.93%	23.92%	13.26%	8.25%	21.96%	8.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NESGX and NESIX in my portfolio?

With a correlation of 1.00, NESGX and NESIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NESGX or NESIX?

NESIX has higher volatility (8.14%) compared to NESGX (8.14%). In terms of maximum drawdown, NESGX dropped -50.29% vs NESIX's -49.61%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.16 vs 4.11), 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.