NESIX vs. NESGX

Last updated Jun 24, 2026

NESIX (Needham Small Cap Growth Fund Institutional) and NESGX (Needham Small Cap Growth Fund) are both Small Cap Growth Equities funds from Needham. Over the past 5 years, NESIX returned 10.38%/yr vs 9.77%/yr for NESGX. With a 1.00 correlation, they move nearly in lockstep. NESIX charges 1.18%/yr vs 1.85%/yr for NESGX.

Performance

NESIX vs. NESGX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with NESIX having a 83.93% return and NESGX slightly lower at 83.39%.

NESIX

• 1D: -0.37%
• 1M: 10.56%
• YTD: 83.93%
• 6M: 79.27%
• 1Y: 122.28%
• 3Y*: 35.08%
• 5Y*: 10.38%
• 10Y*: —

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%

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

NESIX vs. NESGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

NESIX vs. NESGX — Risk / Return Rank

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

NESIX

NESIX Risk / Return Rank: 95
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 93
NESIX Omega Ratio Rank: 88
NESIX Calmar Ratio Rank: 98
NESIX Martin Ratio Rank: 98

NESGX

NESGX Risk / Return Rank: 95
NESGX Sharpe Ratio Rank: 99
NESGX Sortino Ratio Rank: 93
NESGX Omega Ratio Rank: 87
NESGX Calmar Ratio Rank: 98
NESGX 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.

NESIX vs. NESGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Small Cap Growth Fund Institutional (NESIX) and Needham Small Cap Growth Fund (NESGX). 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	NESGX	Difference
Sharpe ratio: Return per unit of total volatility	4.03	3.99	+0.04
Sortino ratio: Return per unit of downside risk	4.36	4.33	+0.03
Omega ratio: Gain probability vs. loss probability	1.57	1.56	0.00
Calmar ratio: Return relative to maximum drawdown	7.37	7.27	+0.10
Martin ratio: Return relative to average drawdown	30.02	29.61	+0.41

NESIX vs. NESGX - Sharpe Ratio Comparison

The current NESIX Sharpe Ratio is 4.03, which is comparable to the NESGX Sharpe Ratio of 3.99. The chart below compares the historical Sharpe Ratios of NESIX and NESGX, 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. NESGX - Drawdown Comparison

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

Drawdown Indicators

	NESIX	NESGX	Difference
Max Drawdown Largest peak-to-trough decline	-49.61%	-50.29%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-17.12%	-17.16%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-35.27%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-49.61%	-50.05%	+0.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.29%	—
Current Drawdown Current decline from peak	-0.37%	-0.40%	+0.03%
Average Drawdown Average peak-to-trough decline	-14.92%	-11.64%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	4.20%	-0.01%

Volatility

NESIX vs. NESGX - Volatility Comparison

Needham Small Cap Growth Fund Institutional (NESIX) and Needham Small Cap Growth Fund (NESGX) have volatilities of 11.97% and 11.99%, 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

	NESIX	NESGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.97%	11.99%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	22.24%	22.21%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	31.35%	31.33%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.59%	29.57%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.56%	26.02%	+0.54%

NESIX vs. NESGX - Expense Ratio Comparison

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

Dividends

NESIX vs. NESGX - Dividend Comparison

Neither NESIX nor NESGX 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 NESIX and NESGX in my portfolio?

With a correlation of 1.00, NESIX and NESGX 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 NESGX?

NESGX has higher volatility (11.99%) compared to NESIX (11.97%). In terms of maximum drawdown, NESIX dropped -49.61% vs NESGX's -50.29%.

Which has better risk-adjusted returns?

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.