NESIX vs. GSXIX

Last updated Aug 4, 2026

NESIX (Needham Small Cap Growth Fund Institutional) and GSXIX (abrdn U.S. Small Cap Equity Fund) are both Small Cap Growth Equities funds. Over the past 5 years, NESIX returned 6.15%/yr vs 13.01%/yr for GSXIX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. NESIX charges 1.18%/yr vs 1.11%/yr for GSXIX.

Performance

NESIX vs. GSXIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Needham Small Cap Growth Fund Institutional (NESIX) and abrdn U.S. Small Cap Equity Fund (GSXIX). 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 GSXIX's 23.60% 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%

GSXIX

• 1D: -0.04%
• 1M: -1.49%
• 6M: 16.87%
• YTD: 23.60%
• 1Y: 31.43%
• 3Y*: 16.31%
• 5Y*: 13.01%
• 10Y*: 14.31%
• ALL TIME*: 15.60%

*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)
GSXIX abrdn U.S. Small Cap Equity Fund	$0.00	$0.00	$0.00
NESIX Needham Small Cap Growth Fund Institutional	$0.00	$0.00	$0.00

NESIX vs. GSXIX - 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%
GSXIX abrdn U.S. Small Cap Equity Fund	23.60%	8.99%	16.00%	11.28%	-25.87%	70.47%	28.48%	25.11%	-13.29%	11.29%

Correlation

The correlation between NESIX and GSXIX is 0.74, 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.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.78

The correlation between NESIX and GSXIX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

NESIX vs. GSXIX — 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

GSXIX

GSXIX Risk / Return Rank: 70
GSXIX Sharpe Ratio Rank: 65
GSXIX Sortino Ratio Rank: 68
GSXIX Omega Ratio Rank: 53
GSXIX Calmar Ratio Rank: 84
GSXIX Martin Ratio Rank: 81

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. GSXIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund Institutional (NESIX) and abrdn U.S. Small Cap Equity Fund (GSXIX). 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	GSXIX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.67	+0.50
Sortino ratio: Return per unit of downside risk	2.68	2.44	+0.25
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.06
Calmar ratio: Return relative to maximum drawdown	3.36	2.99	+0.37
Martin ratio: Return relative to average drawdown	12.96	10.54	+2.42

NESIX vs. GSXIX - Sharpe Ratio Comparison

The current NESIX Sharpe Ratio is 2.17, which is higher than the GSXIX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of NESIX and GSXIX, 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. GSXIX - Drawdown Comparison

The maximum NESIX drawdown since its inception was -49.61%, which is greater than GSXIX's maximum drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for NESIX and GSXIX.

Drawdown Indicators

	NESIX	GSXIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.61%	-35.39%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-22.10%	-10.21%	-11.89%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-23.22%	-11.99%
Max Drawdown (5Y) Largest decline over 5 years	-49.61%	-32.39%	-17.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.39%	—
Current Drawdown Current decline from peak	-16.63%	-3.22%	-13.41%
Average Drawdown Average peak-to-trough decline	-14.87%	-7.07%	-7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.72%	2.89%	+2.83%

Volatility

NESIX vs. GSXIX - Volatility Comparison

Needham Small Cap Growth Fund Institutional (NESIX) has a higher volatility of 13.44% compared to abrdn U.S. Small Cap Equity Fund (GSXIX) at 4.01%. This indicates that NESIX's price experiences larger fluctuations and is considered to be riskier than GSXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NESIX	GSXIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.44%	4.01%	+9.43%
Volatility (6M) Calculated over the trailing 6-month period	26.18%	13.91%	+12.27%
Volatility (1Y) Calculated over the trailing 1-year period	34.35%	18.43%	+15.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.17%	25.71%	+4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.86%	23.69%	+3.17%

NESIX vs. GSXIX - Expense Ratio Comparison

NESIX has a 1.18% expense ratio, which is higher than GSXIX's 1.11% expense ratio.

Dividends

NESIX vs. GSXIX - Dividend Comparison

Neither NESIX nor GSXIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSXIX abrdn U.S. Small Cap Equity Fund	0.00%	0.00%	0.00%	0.00%	5.42%	44.27%	6.63%	7.30%	13.20%	0.00%
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%

Frequently Asked Questions

Can I hold both NESIX and GSXIX in my portfolio?

NESIX and GSXIX have a correlation of 0.74, 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 GSXIX?

NESIX has higher volatility (13.44%) compared to GSXIX (4.01%). In terms of maximum drawdown, NESIX dropped -49.61% vs GSXIX's -35.39%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (2.17 vs 1.67), 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.