SASMX vs. NCLEX
SASMX (ClearBridge Small Cap Growth Fund) and NCLEX (Nicholas Limited Edition Fund) are both Small Cap Growth Equities funds. Over the past 10 years, SASMX returned 11.27%/yr vs 7.50%/yr for NCLEX. Their correlation of 0.90 means they have usually moved in the same direction. SASMX charges 1.16%/yr vs 0.85%/yr for NCLEX.
Performance
SASMX vs. NCLEX - Performance Comparison
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Returns By Period
Over the past 10 years, SASMX has outperformed NCLEX with an annualized return of 11.27%, while NCLEX has yielded a comparatively lower 7.50% annualized return.
SASMX
- 1D
- 1.87%
- 1M
- -4.93%
- 6M
- 5.56%
- YTD
- 11.82%
- 1Y
- 19.97%
- 3Y*
- 10.64%
- 5Y*
- 1.47%
- 10Y*
- 11.27%
- ALL TIME*
- 10.03%
NCLEX
- 1D
- -1.13%
- 1M
- 0.20%
- 6M
- 0.08%
- YTD
- 0.00%
- 1Y
- -2.29%
- 3Y*
- 0.57%
- 5Y*
- -0.61%
- 10Y*
- 7.50%
- ALL TIME*
- 9.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SASMX vs. NCLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SASMX ClearBridge Small Cap Growth Fund | 11.82% | 9.52% | 12.95% | 8.64% | -28.82% | 12.11% | 43.54% | 25.31% | 3.77% | 24.98% |
NCLEX Nicholas Limited Edition Fund | 0.00% | -10.41% | 11.91% | 17.17% | -23.71% | 19.07% | 22.67% | 27.36% | -0.94% | 19.93% |
Correlation
The correlation between SASMX and NCLEX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1998 | 0.90 |
Over the past year, the correlation between SASMX and NCLEX has dropped to 0.64 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
SASMX vs. NCLEX — Risk / Return Rank
SASMX
NCLEX
SASMX vs. NCLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearBridge Small Cap Growth Fund (SASMX) and Nicholas Limited Edition Fund (NCLEX). 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.
| SASMX | NCLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.96 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | -0.26 | +1.42 |
| Martin ratioReturn relative to average drawdown | 3.91 | -0.51 | +4.42 |
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Drawdowns
SASMX vs. NCLEX - Drawdown Comparison
The maximum SASMX drawdown since its inception was -54.81%, which is greater than NCLEX's maximum drawdown of -48.68%. Use the drawdown chart below to compare losses from any high point for SASMX and NCLEX.
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Drawdown Indicators
| SASMX | NCLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.81% | -48.68% | -6.13% |
Max Drawdown (1Y)Largest decline over 1 year | -13.85% | -20.88% | +7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -26.25% | -28.50% | +2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -28.50% | -13.69% |
Max Drawdown (10Y)Largest decline over 10 years | -42.19% | -35.79% | -6.40% |
Current DrawdownCurrent decline from peak | -6.81% | -16.34% | +9.53% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -8.32% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 10.65% | -6.56% |
Volatility
SASMX vs. NCLEX - Volatility Comparison
ClearBridge Small Cap Growth Fund (SASMX) has a higher volatility of 5.38% compared to Nicholas Limited Edition Fund (NCLEX) at 4.95%. This indicates that SASMX's price experiences larger fluctuations and is considered to be riskier than NCLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SASMX | NCLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 4.95% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 12.80% | +4.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.49% | 17.31% | +4.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.78% | 19.62% | +5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.85% | 19.22% | +4.63% |
SASMX vs. NCLEX - Expense Ratio Comparison
SASMX has a 1.16% expense ratio, which is higher than NCLEX's 0.85% expense ratio.
Dividends
SASMX vs. NCLEX - Dividend Comparison
SASMX's dividend yield for the trailing twelve months is around 18.16%, more than NCLEX's 7.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | 7.53% | 7.53% | 2.51% | 2.43% | 6.22% | 16.44% | 5.10% | 5.66% | 10.72% | 7.97% | 10.68% | 8.05% |
SASMX ClearBridge Small Cap Growth Fund | 18.16% | 20.31% | 17.01% | 0.43% | 0.00% | 11.84% | 7.04% | 7.62% | 15.70% | 3.55% | 3.01% | 1.26% |
Frequently Asked Questions
SASMX and NCLEX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SASMX has higher volatility (5.38%) compared to NCLEX (4.95%). In terms of maximum drawdown, SASMX dropped -54.81% vs NCLEX's -48.68%.
SASMX currently has the higher Sharpe Ratio (0.74 vs -0.32), 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.
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