NESGX vs. NESIX
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 9.77%/yr vs 10.38%/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
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Returns By Period
The year-to-date returns for both investments are quite close, with NESGX having a 83.39% return and NESIX slightly higher at 83.93%.
NESGX
- 1D
- -0.40%
- 1M
- 10.48%
- YTD
- 83.39%
- 6M
- 78.75%
- 1Y
- 120.96%
- 3Y*
- 34.45%
- 5Y*
- 9.77%
- 10Y*
- 20.34%
NESIX
- 1D
- -0.37%
- 1M
- 10.56%
- YTD
- 83.93%
- 6M
- 79.27%
- 1Y
- 122.28%
- 3Y*
- 35.08%
- 5Y*
- 10.38%
- 10Y*
- —
NESGX vs. NESIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NESGX Needham Small Cap Growth Fund | 83.39% | 10.50% | 12.76% | 5.68% | -30.21% | 10.59% | 71.90% | 54.42% | -5.43% | 11.96% |
NESIX Needham Small Cap Growth Fund Institutional | 83.93% | 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 3, 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.
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Return for Risk
NESGX vs. NESIX — Risk / Return Rank
NESGX
NESIX
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.
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 | NESIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.57 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 7.27 | 7.37 | -0.10 |
| Martin ratioReturn relative to average drawdown | 29.61 | 30.02 | -0.41 |
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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.
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Drawdown Indicators
| NESGX | NESIX | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.40% | -0.37% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -14.92% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 4.19% | +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 11.99% and 11.97%, 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.
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Volatility by Period
| NESGX | NESIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.99% | 11.97% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 22.21% | 22.24% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.33% | 31.35% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.57% | 29.59% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.02% | 26.56% | -0.54% |
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
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.
NESGX has higher volatility (11.99%) compared to NESIX (11.97%). In terms of maximum drawdown, NESGX dropped -50.29% vs NESIX's -49.61%.
NESIX currently has the higher Sharpe Ratio (4.03 vs 3.99), 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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