PGRTX vs. NESIX

Last updated Jun 6, 2026

PGRTX (Principal SmallCap Growth Fund I) and NESIX (Needham Small Cap Growth Fund Institutional) are both Small Cap Growth Equities funds. Over the past 5 years, PGRTX returned 7.54%/yr vs 10.47%/yr for NESIX. Their correlation of 0.84 suggests significant overlap in exposure. PGRTX charges 0.94%/yr vs 1.18%/yr for NESIX.

Performance

PGRTX vs. NESIX - Performance Comparison

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

Returns By Period

In the year-to-date period, PGRTX achieves a 20.48% return, which is significantly lower than NESIX's 81.20% return.

PGRTX

• 1D: 1.15%
• 1M: 3.30%
• YTD: 20.48%
• 6M: 18.30%
• 1Y: 40.04%
• 3Y*: 21.83%
• 5Y*: 7.54%
• 10Y*: 13.81%

NESIX

• 1D: 0.23%
• 1M: 16.29%
• YTD: 81.20%
• 6M: 75.35%
• 1Y: 124.55%
• 3Y*: 34.27%
• 5Y*: 10.47%
• 10Y*: —

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

PGRTX vs. NESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGRTX Principal SmallCap Growth Fund I	20.48%	12.87%	22.98%	16.43%	-28.55%	7.02%	42.08%	33.64%	-5.70%	25.69%
NESIX Needham Small Cap Growth Fund Institutional	81.20%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%

Correlation

The correlation between PGRTX and NESIX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.84

The correlation between PGRTX and NESIX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

PGRTX vs. NESIX — Risk / Return Rank

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

PGRTX

PGRTX Risk / Return Rank: 49
PGRTX Sharpe Ratio Rank: 43
PGRTX Sortino Ratio Rank: 40
PGRTX Omega Ratio Rank: 38
PGRTX Calmar Ratio Rank: 62
PGRTX Martin Ratio Rank: 62

NESIX

NESIX Risk / Return Rank: 94
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 91
NESIX Omega Ratio Rank: 86
NESIX Calmar Ratio Rank: 97
NESIX 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.

PGRTX vs. NESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap Growth Fund I (PGRTX) and Needham Small Cap Growth Fund Institutional (NESIX). 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.

	PGRTX	NESIX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	4.10	-2.24
Sortino ratio: Return per unit of downside risk	2.56	4.49	-1.93
Omega ratio: Gain probability vs. loss probability	1.31	1.58	-0.27
Calmar ratio: Return relative to maximum drawdown	2.94	7.23	-4.29
Martin ratio: Return relative to average drawdown	11.76	29.97	-18.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGRTX vs. NESIX - Sharpe Ratio Comparison

The current PGRTX Sharpe Ratio is 1.87, which is lower than the NESIX Sharpe Ratio of 4.10. The chart below compares the historical Sharpe Ratios of PGRTX and NESIX, 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

	PGRTX	NESIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	4.10	-2.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.36	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.75	-0.39

Drawdowns

PGRTX vs. NESIX - Drawdown Comparison

The maximum PGRTX drawdown since its inception was -60.60%, which is greater than NESIX's maximum drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for PGRTX and NESIX.

Drawdown Indicators

	PGRTX	NESIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.60%	-49.61%	-10.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.70%	-17.12%	+3.42%
Max Drawdown (3Y) Largest decline over 3 years	-27.14%	-35.21%	+8.07%
Max Drawdown (5Y) Largest decline over 5 years	-39.51%	-49.61%	+10.10%
Max Drawdown (10Y) Largest decline over 10 years	-39.51%	—	—
Current Drawdown Current decline from peak	0.00%	-0.58%	+0.58%
Average Drawdown Average peak-to-trough decline	-15.54%	-14.98%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	4.12%	-0.71%

Volatility

PGRTX vs. NESIX - Volatility Comparison

The current volatility for Principal SmallCap Growth Fund I (PGRTX) is 6.14%, while Needham Small Cap Growth Fund Institutional (NESIX) has a volatility of 8.80%. This indicates that PGRTX experiences smaller price fluctuations and is considered to be less risky than NESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGRTX	NESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	8.80%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	21.10%	-4.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.55%	30.15%	-8.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.89%	29.28%	-5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	26.43%	-3.39%

PGRTX vs. NESIX - Expense Ratio Comparison

PGRTX has a 0.94% expense ratio, which is lower than NESIX's 1.18% expense ratio.

Dividends

PGRTX vs. NESIX - Dividend Comparison

PGRTX's dividend yield for the trailing twelve months is around 7.63%, while NESIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PGRTX Principal SmallCap Growth Fund I	7.63%	9.19%	15.56%	0.00%	0.82%	14.35%	4.82%	7.50%	21.37%	5.99%	3.05%	9.16%

Frequently Asked Questions

Can I hold both PGRTX and NESIX in my portfolio?

PGRTX and NESIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGRTX or NESIX?

NESIX has higher volatility (8.80%) compared to PGRTX (6.14%). In terms of maximum drawdown, PGRTX dropped -60.60% vs NESIX's -49.61%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.10 vs 1.87), 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.