NESIX vs. FAMFX

Last updated Aug 4, 2026

NESIX (Needham Small Cap Growth Fund Institutional) and FAMFX (FAM Small Cap Fund) are both Small Cap Growth Equities funds. Over the past 5 years, NESIX returned 6.15%/yr vs 2.93%/yr for FAMFX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. NESIX charges 1.18%/yr vs 1.27%/yr for FAMFX.

Performance

NESIX vs. FAMFX - Performance Comparison

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

Returns By Period

In the year-to-date period, NESIX achieves a 56.00% return, which is significantly higher than FAMFX's 2.91% return.

NESIX

• 1D: 1.73%
• 1M: -8.85%
• 6M: 38.72%
• YTD: 56.00%
• 1Y: 78.30%
• 3Y*: 25.24%
• 5Y*: 6.15%
• 10Y*: —
• ALL TIME*: 17.53%

FAMFX

• 1D: 0.69%
• 1M: 2.23%
• 6M: 2.82%
• YTD: 2.91%
• 1Y: -2.51%
• 3Y*: 2.88%
• 5Y*: 2.93%
• 10Y*: 7.52%
• ALL TIME*: 9.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAMFX FAM Small Cap Fund	$0.00	$0.00	$0.00
NESIX Needham Small Cap Growth Fund Institutional	$0.00	$0.00	$0.00

NESIX vs. FAMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NESIX Needham Small Cap Growth Fund Institutional	56.00%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%
FAMFX FAM Small Cap Fund	2.91%	-11.60%	12.43%	20.10%	-12.42%	27.72%	10.10%	26.89%	-8.54%	4.56%

Correlation

The correlation between NESIX and FAMFX is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.67

Over the past year, the correlation between NESIX and FAMFX has dropped to 0.33 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

NESIX vs. FAMFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NESIX

NESIX Risk / Return Rank: 83
NESIX Sharpe Ratio Rank: 87
NESIX Sortino Ratio Rank: 76
NESIX Omega Ratio Rank: 74
NESIX Calmar Ratio Rank: 88
NESIX Martin Ratio Rank: 90

FAMFX

FAMFX Risk / Return Rank: 2
FAMFX Sharpe Ratio Rank: 2
FAMFX Sortino Ratio Rank: 2
FAMFX Omega Ratio Rank: 2
FAMFX Calmar Ratio Rank: 3
FAMFX Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NESIX vs. FAMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund Institutional (NESIX) and FAM Small Cap Fund (FAMFX). 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.

	NESIX	FAMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	-0.21	+2.38
Sortino ratio: Return per unit of downside risk	2.68	-0.19	+2.88
Omega ratio: Gain probability vs. loss probability	1.34	0.98	+0.36
Calmar ratio: Return relative to maximum drawdown	3.36	-0.18	+3.54
Martin ratio: Return relative to average drawdown	12.96	-0.32	+13.28

NESIX vs. FAMFX - Sharpe Ratio Comparison

The current NESIX Sharpe Ratio is 2.17, which is higher than the FAMFX Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of NESIX and FAMFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NESIX vs. FAMFX - Drawdown Comparison

The maximum NESIX drawdown since its inception was -49.61%, which is greater than FAMFX's maximum drawdown of -39.66%. Use the drawdown chart below to compare losses from any high point for NESIX and FAMFX.

Drawdown Indicators

	NESIX	FAMFX	Difference
Max Drawdown Largest peak-to-trough decline	-49.61%	-39.66%	-9.95%
Max Drawdown (1Y) Largest decline over 1 year	-22.10%	-21.49%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-28.71%	-6.50%
Max Drawdown (5Y) Largest decline over 5 years	-49.61%	-28.71%	-20.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.66%	—
Current Drawdown Current decline from peak	-16.63%	-16.38%	-0.25%
Average Drawdown Average peak-to-trough decline	-14.87%	-6.11%	-8.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.72%	12.17%	-6.45%

Volatility

NESIX vs. FAMFX - Volatility Comparison

Needham Small Cap Growth Fund Institutional (NESIX) has a higher volatility of 13.44% compared to FAM Small Cap Fund (FAMFX) at 6.60%. This indicates that NESIX's price experiences larger fluctuations and is considered to be riskier than FAMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NESIX	FAMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.44%	6.60%	+6.84%
Volatility (6M) Calculated over the trailing 6-month period	26.18%	13.92%	+12.26%
Volatility (1Y) Calculated over the trailing 1-year period	34.35%	18.36%	+15.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.17%	18.91%	+11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.86%	19.57%	+7.29%

NESIX vs. FAMFX - Expense Ratio Comparison

NESIX has a 1.18% expense ratio, which is lower than FAMFX's 1.27% expense ratio.

Dividends

NESIX vs. FAMFX - Dividend Comparison

NESIX has not paid dividends to shareholders, while FAMFX's dividend yield for the trailing twelve months is around 3.31%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAMFX FAM Small Cap Fund	3.31%	3.41%	4.43%	6.44%	0.36%	6.55%	0.00%	0.47%	10.85%	2.15%	2.99%	0.24%
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 NESIX and FAMFX in my portfolio?

NESIX and FAMFX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NESIX or FAMFX?

NESIX has higher volatility (13.44%) compared to FAMFX (6.60%). In terms of maximum drawdown, NESIX dropped -49.61% vs FAMFX's -39.66%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (2.17 vs -0.21), 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.