OSTGX vs. NESGX

Last updated Apr 1, 2026

Compare and contrast key facts about Osterweis Emerging Opportunity Fund (OSTGX) and Needham Small Cap Growth Fund (NESGX).

OSTGX is managed by Osterweis. It was launched on Nov 30, 2016. NESGX is managed by Needham. It was launched on May 22, 2002.

Performance

OSTGX vs. NESGX - Performance Comparison

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

OSTGX vs. NESGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OSTGX Osterweis Emerging Opportunity Fund	-8.21%	0.26%	22.49%	23.98%	-33.00%	-14.83%	83.54%	36.97%	1.33%	26.75%
NESGX Needham Small Cap Growth Fund	9.51%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	11.96%

Returns By Period

In the year-to-date period, OSTGX achieves a -8.21% return, which is significantly lower than NESGX's 9.51% return.

OSTGX

• 1D: -1.71%
• 1M: -10.89%
• YTD: -8.21%
• 6M: -5.22%
• 1Y: 8.11%
• 3Y*: 8.30%
• 5Y*: -4.30%
• 10Y*: —

NESGX

• 1D: -4.45%
• 1M: -7.07%
• YTD: 9.51%
• 6M: 12.14%
• 1Y: 47.82%
• 3Y*: 10.96%
• 5Y*: 0.71%
• 10Y*: 14.30%

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

OSTGX vs. NESGX - Expense Ratio Comparison

OSTGX has a 1.17% expense ratio, which is lower than NESGX's 1.85% expense ratio.

NESGX

Needham Small Cap Growth Fund

OSTGX

Osterweis Emerging Opportunity Fund

Return for Risk

OSTGX vs. NESGX — Risk / Return Rank

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

OSTGX

OSTGX Risk / Return Rank: 13
OSTGX Sharpe Ratio Rank: 12
OSTGX Sortino Ratio Rank: 13
OSTGX Omega Ratio Rank: 12
OSTGX Calmar Ratio Rank: 13
OSTGX Martin Ratio Rank: 13

NESGX

NESGX Risk / Return Rank: 77
NESGX Sharpe Ratio Rank: 74
NESGX Sortino Ratio Rank: 75
NESGX Omega Ratio Rank: 66
NESGX Calmar Ratio Rank: 88
NESGX Martin Ratio Rank: 81

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.

OSTGX vs. NESGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osterweis Emerging Opportunity Fund (OSTGX) 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.

	OSTGX	NESGX	Difference
Sharpe ratio Return per unit of total volatility	0.31	1.32	-1.01
Sortino ratio Return per unit of downside risk	0.61	1.88	-1.28
Omega ratio Gain probability vs. loss probability	1.08	1.25	-0.17
Calmar ratio Return relative to maximum drawdown	0.36	2.38	-2.03
Martin ratio Return relative to average drawdown	1.21	8.02	-6.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OSTGX vs. NESGX - Sharpe Ratio Comparison

The current OSTGX Sharpe Ratio is 0.31, which is lower than the NESGX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of OSTGX and NESGX, 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

	OSTGX	NESGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	1.32	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.02	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.51	-0.08

Correlation

The correlation between OSTGX and NESGX is 0.80, 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

OSTGX vs. NESGX - Dividend Comparison

OSTGX's dividend yield for the trailing twelve months is around 2.52%, while NESGX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OSTGX Osterweis Emerging Opportunity Fund	2.52%	2.31%	0.84%	0.00%	0.00%	0.10%	10.54%	12.79%	8.06%	18.91%	0.00%	0.00%
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%

Drawdowns

OSTGX vs. NESGX - Drawdown Comparison

The maximum OSTGX drawdown since its inception was -53.93%, which is greater than NESGX's maximum drawdown of -50.29%. Use the drawdown chart below to compare losses from any high point for OSTGX and NESGX.

Drawdown Indicators

	OSTGX	NESGX	Difference
Max Drawdown Largest peak-to-trough decline	-53.93%	-50.29%	-3.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-17.27%	+3.66%
Max Drawdown (5Y) Largest decline over 5 years	-53.93%	-50.05%	-3.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.29%	—
Current Drawdown Current decline from peak	-30.72%	-9.15%	-21.57%
Average Drawdown Average peak-to-trough decline	-19.78%	-11.74%	-8.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	5.13%	-1.13%

Volatility

OSTGX vs. NESGX - Volatility Comparison

The current volatility for Osterweis Emerging Opportunity Fund (OSTGX) is 7.79%, while Needham Small Cap Growth Fund (NESGX) has a volatility of 10.96%. This indicates that OSTGX experiences smaller price fluctuations and is considered to be less risky than NESGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OSTGX	NESGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	10.96%	-3.17%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	22.87%	-8.55%
Volatility (1Y) Calculated over the trailing 1-year period	24.18%	35.07%	-10.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.60%	29.08%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.09%	25.51%	-0.42%