PNSAX vs. NEAGX

Last updated Apr 2, 2026

Compare and contrast key facts about Putnam Small Cap Growth Fund (PNSAX) and Needham Aggressive Growth Fund (NEAGX).

PNSAX is managed by Putnam. It was launched on Dec 31, 1997. NEAGX is managed by Needham. It was launched on Sep 4, 2001.

Performance

PNSAX vs. NEAGX - Performance Comparison

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

PNSAX vs. NEAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PNSAX Putnam Small Cap Growth Fund	-0.28%	8.91%	22.98%	22.87%	-28.10%	14.38%	47.65%	37.60%	-2.46%	20.19%
NEAGX Needham Aggressive Growth Fund	11.92%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	8.75%

Returns By Period

In the year-to-date period, PNSAX achieves a -0.28% return, which is significantly lower than NEAGX's 11.92% return. Over the past 10 years, PNSAX has underperformed NEAGX with an annualized return of 13.98%, while NEAGX has yielded a comparatively higher 18.04% annualized return.

PNSAX

• 1D: 5.00%
• 1M: -7.90%
• YTD: -0.28%
• 6M: -2.39%
• 1Y: 20.42%
• 3Y*: 15.34%
• 5Y*: 5.04%
• 10Y*: 13.98%

NEAGX

• 1D: 4.33%
• 1M: -7.75%
• YTD: 11.92%
• 6M: 14.19%
• 1Y: 60.51%
• 3Y*: 26.85%
• 5Y*: 15.03%
• 10Y*: 18.04%

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

PNSAX vs. NEAGX - Expense Ratio Comparison

PNSAX has a 1.23% expense ratio, which is lower than NEAGX's 1.86% expense ratio.

NEAGX

Needham Aggressive Growth Fund

PNSAX

Putnam Small Cap Growth Fund

Return for Risk

PNSAX vs. NEAGX — Risk / Return Rank

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

PNSAX

PNSAX Risk / Return Rank: 44
PNSAX Sharpe Ratio Rank: 37
PNSAX Sortino Ratio Rank: 42
PNSAX Omega Ratio Rank: 33
PNSAX Calmar Ratio Rank: 59
PNSAX Martin Ratio Rank: 49

NEAGX

NEAGX Risk / Return Rank: 93
NEAGX Sharpe Ratio Rank: 94
NEAGX Sortino Ratio Rank: 91
NEAGX Omega Ratio Rank: 87
NEAGX Calmar Ratio Rank: 97
NEAGX 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.

PNSAX vs. NEAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Small Cap Growth Fund (PNSAX) and Needham Aggressive Growth Fund (NEAGX). 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.

	PNSAX	NEAGX	Difference
Sharpe ratio Return per unit of total volatility	0.86	2.14	-1.28
Sortino ratio Return per unit of downside risk	1.36	2.71	-1.36
Omega ratio Gain probability vs. loss probability	1.17	1.38	-0.20
Calmar ratio Return relative to maximum drawdown	1.49	4.27	-2.78
Martin ratio Return relative to average drawdown	5.15	15.19	-10.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PNSAX vs. NEAGX - Sharpe Ratio Comparison

The current PNSAX Sharpe Ratio is 0.86, which is lower than the NEAGX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PNSAX and NEAGX, 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

	PNSAX	NEAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.14	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.62	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.76	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.59	-0.17

Correlation

The correlation between PNSAX and NEAGX is 0.87, 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

PNSAX vs. NEAGX - Dividend Comparison

PNSAX's dividend yield for the trailing twelve months is around 0.43%, less than NEAGX's 1.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNSAX Putnam Small Cap Growth Fund	0.43%	0.42%	0.00%	0.00%	0.00%	15.27%	4.87%	1.93%	1.88%	0.00%	0.00%	0.00%
NEAGX Needham Aggressive Growth Fund	1.91%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%

Drawdowns

PNSAX vs. NEAGX - Drawdown Comparison

The maximum PNSAX drawdown since its inception was -69.47%, which is greater than NEAGX's maximum drawdown of -41.80%. Use the drawdown chart below to compare losses from any high point for PNSAX and NEAGX.

Drawdown Indicators

	PNSAX	NEAGX	Difference
Max Drawdown Largest peak-to-trough decline	-69.47%	-41.80%	-27.67%
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	-14.01%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-36.31%	-2.46%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-36.31%	-2.46%
Current Drawdown Current decline from peak	-9.70%	-7.75%	-1.95%
Average Drawdown Average peak-to-trough decline	-23.68%	-8.72%	-14.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.05%	3.93%	+0.12%

Volatility

PNSAX vs. NEAGX - Volatility Comparison

The current volatility for Putnam Small Cap Growth Fund (PNSAX) is 10.40%, while Needham Aggressive Growth Fund (NEAGX) has a volatility of 11.64%. This indicates that PNSAX experiences smaller price fluctuations and is considered to be less risky than NEAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PNSAX	NEAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.40%	11.64%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	19.84%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	24.86%	28.93%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.05%	24.33%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.43%	23.90%	-0.47%