NPSGX vs. CMCIX

Last updated Apr 1, 2026

Compare and contrast key facts about Nicholas Partners Small Cap Growth Fund (NPSGX) and Calvert Small/Mid-Cap Fund Class I (CMCIX).

NPSGX is managed by Nicholas. It was launched on Jan 16, 2019. CMCIX is an actively managed fund by Calvert Research and Management. It was launched on Jul 29, 2011.

Performance

NPSGX vs. CMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Partners Small Cap Growth Fund (NPSGX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). The values are adjusted to include any dividend payments, if applicable.

NPSGX vs. CMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NPSGX Nicholas Partners Small Cap Growth Fund	-2.13%	17.88%	20.83%	10.06%
CMCIX Calvert Small/Mid-Cap Fund Class I	-4.71%	-5.28%	10.46%	7.81%

Returns By Period

In the year-to-date period, NPSGX achieves a -2.13% return, which is significantly higher than CMCIX's -4.71% return.

NPSGX

• 1D: -2.99%
• 1M: -9.23%
• YTD: -2.13%
• 6M: 1.55%
• 1Y: 32.58%
• 3Y*: 17.69%
• 5Y*: 4.52%
• 10Y*: —

CMCIX

• 1D: -0.17%
• 1M: -8.88%
• YTD: -4.71%
• 6M: -7.29%
• 1Y: -5.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NPSGX vs. CMCIX - Expense Ratio Comparison

NPSGX has a 1.13% expense ratio, which is lower than CMCIX's 1.26% expense ratio.

CMCIX

Calvert Small/Mid-Cap Fund Class I

NPSGX

Nicholas Partners Small Cap Growth Fund

Return for Risk

NPSGX vs. CMCIX — Risk / Return Rank

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

NPSGX

NPSGX Risk / Return Rank: 71
NPSGX Sharpe Ratio Rank: 67
NPSGX Sortino Ratio Rank: 67
NPSGX Omega Ratio Rank: 57
NPSGX Calmar Ratio Rank: 85
NPSGX Martin Ratio Rank: 77

CMCIX

CMCIX Risk / Return Rank: 2
CMCIX Sharpe Ratio Rank: 2
CMCIX Sortino Ratio Rank: 2
CMCIX Omega Ratio Rank: 2
CMCIX Calmar Ratio Rank: 1
CMCIX Martin Ratio Rank: 2

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.

NPSGX vs. CMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Partners Small Cap Growth Fund (NPSGX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). 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.

	NPSGX	CMCIX	Difference
Sharpe ratio Return per unit of total volatility	1.19	-0.29	+1.48
Sortino ratio Return per unit of downside risk	1.70	-0.30	+2.00
Omega ratio Gain probability vs. loss probability	1.22	0.96	+0.26
Calmar ratio Return relative to maximum drawdown	2.11	-0.54	+2.65
Martin ratio Return relative to average drawdown	7.37	-1.39	+8.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NPSGX vs. CMCIX - Sharpe Ratio Comparison

The current NPSGX Sharpe Ratio is 1.19, which is higher than the CMCIX Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of NPSGX and CMCIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NPSGX	CMCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	-0.29	+1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.18	+0.33

Correlation

The correlation between NPSGX and CMCIX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NPSGX vs. CMCIX - Dividend Comparison

NPSGX's dividend yield for the trailing twelve months is around 4.60%, more than CMCIX's 4.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
NPSGX Nicholas Partners Small Cap Growth Fund	4.60%	4.50%	5.89%	0.00%	0.00%	21.28%	9.50%	3.24%
CMCIX Calvert Small/Mid-Cap Fund Class I	4.46%	4.25%	7.13%	0.60%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NPSGX vs. CMCIX - Drawdown Comparison

The maximum NPSGX drawdown since its inception was -46.95%, which is greater than CMCIX's maximum drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for NPSGX and CMCIX.

Drawdown Indicators

	NPSGX	CMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-46.95%	-21.50%	-25.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.45%	-12.55%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	-46.95%	—	—
Current Drawdown Current decline from peak	-13.45%	-16.43%	+2.98%
Average Drawdown Average peak-to-trough decline	-18.30%	-6.16%	-12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	4.90%	-1.05%

Volatility

NPSGX vs. CMCIX - Volatility Comparison

Nicholas Partners Small Cap Growth Fund (NPSGX) has a higher volatility of 10.04% compared to Calvert Small/Mid-Cap Fund Class I (CMCIX) at 4.68%. This indicates that NPSGX's price experiences larger fluctuations and is considered to be riskier than CMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPSGX	CMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.04%	4.68%	+5.36%
Volatility (6M) Calculated over the trailing 6-month period	18.70%	10.54%	+8.16%
Volatility (1Y) Calculated over the trailing 1-year period	26.40%	19.19%	+7.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.85%	16.61%	+11.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.62%	16.61%	+12.01%