PBSIX vs. NESGX

Last updated Jul 14, 2026

PBSIX (Polen U.S. Small Company Growth Fund) and NESGX (Needham Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, PBSIX returned 0.86%/yr vs 7.79%/yr for NESGX. A 0.79 correlation means they provide meaningful diversification when combined. PBSIX charges 1.26%/yr vs 1.85%/yr for NESGX.

Performance

PBSIX vs. NESGX - Performance Comparison

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

Returns By Period

In the year-to-date period, PBSIX achieves a 25.03% return, which is significantly lower than NESGX's 69.18% return.

PBSIX

• 1D: -1.97%
• 1M: -4.25%
• 6M: 15.76%
• YTD: 25.03%
• 1Y: 49.50%
• 3Y*: 14.92%
• 5Y*: 0.86%
• 10Y*: —

NESGX

• 1D: -0.89%
• 1M: -5.40%
• 6M: 54.01%
• YTD: 69.18%
• 1Y: 87.15%
• 3Y*: 29.42%
• 5Y*: 7.79%
• 10Y*: 18.94%

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

PBSIX vs. NESGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBSIX Polen U.S. Small Company Growth Fund	25.03%	12.05%	3.75%	21.83%	-42.90%	16.44%	50.02%	21.22%	1.96%	1.42%
NESGX Needham Small Cap Growth Fund	69.18%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	-1.82%

Correlation

The correlation between PBSIX and NESGX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 20, 2017	0.79

The correlation between PBSIX and NESGX has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

Return for Risk

PBSIX vs. NESGX — Risk / Return Rank

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

PBSIX

PBSIX Risk / Return Rank: 62
PBSIX Sharpe Ratio Rank: 51
PBSIX Sortino Ratio Rank: 44
PBSIX Omega Ratio Rank: 43
PBSIX Calmar Ratio Rank: 90
PBSIX Martin Ratio Rank: 85

NESGX

NESGX Risk / Return Rank: 89
NESGX Sharpe Ratio Rank: 93
NESGX Sortino Ratio Rank: 82
NESGX Omega Ratio Rank: 79
NESGX Calmar Ratio Rank: 96
NESGX Martin Ratio Rank: 96

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.

PBSIX vs. NESGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen U.S. Small Company Growth Fund (PBSIX) 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.

	PBSIX	NESGX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.60	-1.00
Sortino ratio: Return per unit of downside risk	2.13	3.09	-0.95
Omega ratio: Gain probability vs. loss probability	1.27	1.40	-0.13
Calmar ratio: Return relative to maximum drawdown	3.63	4.97	-1.34
Martin ratio: Return relative to average drawdown	12.20	18.91	-6.71

PBSIX vs. NESGX - Sharpe Ratio Comparison

The current PBSIX Sharpe Ratio is 1.60, which is lower than the NESGX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of PBSIX 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

PBSIX vs. NESGX - Drawdown Comparison

The maximum PBSIX drawdown since its inception was -52.49%, roughly equal to the maximum NESGX drawdown of -50.29%. Use the drawdown chart below to compare losses from any high point for PBSIX and NESGX.

Drawdown Indicators

	PBSIX	NESGX	Difference
Max Drawdown Largest peak-to-trough decline	-52.49%	-50.29%	-2.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.67%	-17.16%	+3.49%
Max Drawdown (3Y) Largest decline over 3 years	-28.03%	-35.27%	+7.24%
Max Drawdown (5Y) Largest decline over 5 years	-52.49%	-50.05%	-2.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.29%	—
Current Drawdown Current decline from peak	-9.51%	-9.32%	-0.19%
Average Drawdown Average peak-to-trough decline	-21.38%	-11.63%	-9.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	4.50%	-0.49%

Volatility

PBSIX vs. NESGX - Volatility Comparison

The current volatility for Polen U.S. Small Company Growth Fund (PBSIX) is 11.16%, while Needham Small Cap Growth Fund (NESGX) has a volatility of 13.34%. This indicates that PBSIX 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

	PBSIX	NESGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.16%	13.34%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	24.04%	24.35%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	30.99%	32.76%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.21%	29.90%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.71%	26.19%	+1.52%

PBSIX vs. NESGX - Expense Ratio Comparison

PBSIX has a 1.26% expense ratio, which is lower than NESGX's 1.85% expense ratio.

Dividends

PBSIX vs. NESGX - Dividend Comparison

Neither PBSIX 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%
PBSIX Polen U.S. Small Company Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	3.60%	0.11%	0.48%	0.16%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBSIX and NESGX in my portfolio?

PBSIX and NESGX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBSIX or NESGX?

NESGX has higher volatility (13.34%) compared to PBSIX (11.16%). In terms of maximum drawdown, PBSIX dropped -52.49% vs NESGX's -50.29%.

Which has better risk-adjusted returns?

NESGX currently has the higher Sharpe Ratio (2.60 vs 1.60), 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.