NESIX vs. NEAGX

Last updated Jun 5, 2026

NESIX (Needham Small Cap Growth Fund Institutional) and NEAGX (Needham Aggressive Growth Fund) are both Small Cap Growth Equities funds from Needham. Over the past 5 years, NESIX returned 10.42%/yr vs 23.00%/yr for NEAGX. Their correlation of 0.88 suggests significant overlap in exposure. NESIX charges 1.18%/yr vs 1.86%/yr for NEAGX.

Performance

NESIX vs. NEAGX - Performance Comparison

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

Returns By Period

In the year-to-date period, NESIX achieves a 80.79% return, which is significantly higher than NEAGX's 57.98% return.

NESIX

• 1D: -0.80%
• 1M: 19.63%
• YTD: 80.79%
• 6M: 75.73%
• 1Y: 122.53%
• 3Y*: 33.39%
• 5Y*: 10.42%
• 10Y*: —

NEAGX

• 1D: -0.99%
• 1M: 12.44%
• YTD: 57.98%
• 6M: 57.43%
• 1Y: 92.85%
• 3Y*: 38.19%
• 5Y*: 23.00%
• 10Y*: 22.39%

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

NESIX vs. NEAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NESIX Needham Small Cap Growth Fund Institutional	80.79%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%
NEAGX Needham Aggressive Growth Fund	57.98%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	9.48%

Correlation

The correlation between NESIX and NEAGX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.88

The correlation between NESIX and NEAGX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

NESIX vs. NEAGX — Risk / Return Rank

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

NESIX

NESIX Risk / Return Rank: 94
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 91
NESIX Omega Ratio Rank: 85
NESIX Calmar Ratio Rank: 97
NESIX Martin Ratio Rank: 98

NEAGX

NEAGX Risk / Return Rank: 92
NEAGX Sharpe Ratio Rank: 97
NEAGX Sortino Ratio Rank: 87
NEAGX Omega Ratio Rank: 83
NEAGX Calmar Ratio Rank: 97
NEAGX Martin Ratio Rank: 97

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.

NESIX vs. NEAGX - Risk-Adjusted Trends Comparison

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

	NESIX	NEAGX	Difference
Sharpe ratio: Return per unit of total volatility	4.12	3.68	+0.44
Sortino ratio: Return per unit of downside risk	4.50	4.21	+0.29
Omega ratio: Gain probability vs. loss probability	1.58	1.56	+0.02
Calmar ratio: Return relative to maximum drawdown	7.26	6.78	+0.48
Martin ratio: Return relative to average drawdown	30.09	27.31	+2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NESIX vs. NEAGX - Sharpe Ratio Comparison

The current NESIX Sharpe Ratio is 4.12, which is comparable to the NEAGX Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of NESIX and NEAGX, 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

	NESIX	NEAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.12	3.68	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.94	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.66	+0.09

Drawdowns

NESIX vs. NEAGX - Drawdown Comparison

The maximum NESIX drawdown since its inception was -49.61%, which is greater than NEAGX's maximum drawdown of -41.80%. Use the drawdown chart below to compare losses from any high point for NESIX and NEAGX.

Drawdown Indicators

	NESIX	NEAGX	Difference
Max Drawdown Largest peak-to-trough decline	-49.61%	-41.80%	-7.81%
Max Drawdown (1Y) Largest decline over 1 year	-17.12%	-14.01%	-3.11%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-28.49%	-6.72%
Max Drawdown (5Y) Largest decline over 5 years	-49.61%	-36.31%	-13.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.31%	—
Current Drawdown Current decline from peak	-0.80%	-0.99%	+0.19%
Average Drawdown Average peak-to-trough decline	-14.99%	-8.67%	-6.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	3.47%	+0.65%

Volatility

NESIX vs. NEAGX - Volatility Comparison

The current volatility for Needham Small Cap Growth Fund Institutional (NESIX) is 8.84%, while Needham Aggressive Growth Fund (NEAGX) has a volatility of 10.21%. This indicates that NESIX experiences smaller price fluctuations and is considered to be less risky than NEAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NESIX	NEAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	10.21%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	21.13%	20.45%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	30.29%	25.84%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.29%	24.57%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.44%	24.15%	+2.29%

NESIX vs. NEAGX - Expense Ratio Comparison

NESIX has a 1.18% expense ratio, which is lower than NEAGX's 1.86% expense ratio.

Dividends

NESIX vs. NEAGX - Dividend Comparison

NESIX has not paid dividends to shareholders, while NEAGX's dividend yield for the trailing twelve months is around 1.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEAGX Needham Aggressive Growth Fund	1.35%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%
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 NEAGX in my portfolio?

With a correlation of 0.94, NESIX and NEAGX 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, NESIX or NEAGX?

NEAGX has higher volatility (10.21%) compared to NESIX (8.84%). In terms of maximum drawdown, NESIX dropped -49.61% vs NEAGX's -41.80%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.12 vs 3.68), 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.