VMGMX vs. NEEGX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Needham Growth Fund (NEEGX).

VMGMX is managed by Vanguard. It was launched on Sep 27, 2011. NEEGX is managed by Needham. It was launched on Jan 2, 1996.

Performance

VMGMX vs. NEEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Needham Growth Fund (NEEGX). The values are adjusted to include any dividend payments, if applicable.

VMGMX vs. NEEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	-7.61%	10.69%	15.65%	23.93%	-28.84%	20.48%	34.45%	33.85%	-5.61%	21.83%
NEEGX Needham Growth Fund	15.68%	8.76%	14.45%	26.85%	-33.57%	27.63%	41.73%	42.33%	-10.56%	8.33%

Returns By Period

In the year-to-date period, VMGMX achieves a -7.61% return, which is significantly lower than NEEGX's 15.68% return. Over the past 10 years, VMGMX has underperformed NEEGX with an annualized return of 10.62%, while NEEGX has yielded a comparatively higher 12.74% annualized return.

VMGMX

• 1D: 3.15%
• 1M: -7.31%
• YTD: -7.61%
• 6M: -12.10%
• 1Y: 5.25%
• 3Y*: 10.47%
• 5Y*: 4.04%
• 10Y*: 10.62%

NEEGX

• 1D: 4.73%
• 1M: -6.88%
• YTD: 15.68%
• 6M: 17.81%
• 1Y: 49.67%
• 3Y*: 18.80%
• 5Y*: 7.05%
• 10Y*: 12.74%

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

VMGMX vs. NEEGX - Expense Ratio Comparison

VMGMX has a 0.07% expense ratio, which is lower than NEEGX's 1.78% expense ratio.

NEEGX

Needham Growth Fund

VMGMX

Vanguard Mid-Cap Growth Index Fund Admiral Shares

Return for Risk

VMGMX vs. NEEGX — Risk / Return Rank

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

VMGMX

VMGMX Risk / Return Rank: 12
VMGMX Sharpe Ratio Rank: 10
VMGMX Sortino Ratio Rank: 11
VMGMX Omega Ratio Rank: 10
VMGMX Calmar Ratio Rank: 13
VMGMX Martin Ratio Rank: 13

NEEGX

NEEGX Risk / Return Rank: 84
NEEGX Sharpe Ratio Rank: 81
NEEGX Sortino Ratio Rank: 81
NEEGX Omega Ratio Rank: 74
NEEGX Calmar Ratio Rank: 94
NEEGX Martin Ratio Rank: 90

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.

VMGMX vs. NEEGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Needham Growth Fund (NEEGX). 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.

	VMGMX	NEEGX	Difference
Sharpe ratio Return per unit of total volatility	0.28	1.56	-1.28
Sortino ratio Return per unit of downside risk	0.55	2.16	-1.61
Omega ratio Gain probability vs. loss probability	1.07	1.29	-0.22
Calmar ratio Return relative to maximum drawdown	0.39	3.25	-2.86
Martin ratio Return relative to average drawdown	1.21	10.67	-9.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMGMX vs. NEEGX - Sharpe Ratio Comparison

The current VMGMX Sharpe Ratio is 0.28, which is lower than the NEEGX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of VMGMX and NEEGX, 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

	VMGMX	NEEGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	1.56	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.25	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.51	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.54	+0.04

Correlation

The correlation between VMGMX and NEEGX is 0.86, 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

VMGMX vs. NEEGX - Dividend Comparison

VMGMX's dividend yield for the trailing twelve months is around 0.71%, less than NEEGX's 6.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	0.71%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.82%
NEEGX Needham Growth Fund	6.54%	7.57%	3.92%	0.00%	1.78%	6.92%	5.73%	11.31%	17.79%	9.70%	4.22%	6.74%

Drawdowns

VMGMX vs. NEEGX - Drawdown Comparison

The maximum VMGMX drawdown since its inception was -37.17%, smaller than the maximum NEEGX drawdown of -53.60%. Use the drawdown chart below to compare losses from any high point for VMGMX and NEEGX.

Drawdown Indicators

	VMGMX	NEEGX	Difference
Max Drawdown Largest peak-to-trough decline	-37.17%	-53.60%	+16.43%
Max Drawdown (1Y) Largest decline over 1 year	-15.95%	-15.15%	-0.80%
Max Drawdown (5Y) Largest decline over 5 years	-37.17%	-43.35%	+6.18%
Max Drawdown (10Y) Largest decline over 10 years	-37.17%	-43.35%	+6.18%
Current Drawdown Current decline from peak	-13.31%	-7.54%	-5.77%
Average Drawdown Average peak-to-trough decline	-7.05%	-10.95%	+3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	4.61%	+0.50%

Volatility

VMGMX vs. NEEGX - Volatility Comparison

The current volatility for Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) is 6.47%, while Needham Growth Fund (NEEGX) has a volatility of 11.31%. This indicates that VMGMX experiences smaller price fluctuations and is considered to be less risky than NEEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMGMX	NEEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.47%	11.31%	-4.84%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	20.91%	-8.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.07%	32.23%	-11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	28.04%	-6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.93%	25.01%	-4.08%