Fund Evaluator:

Sit Mid Cap Growth Overview

Sit Mid Cap Growth (NBNGX) is an actively managed U.S. Equity Mid-Cap Growth fund. Sit launched the fund in 1982.

The investment seeks to maximize long-term capital appreciation. The fund normally invests at least 80% of its net assets in common stocks that, at the time of purchase, have market capitalizations that fall within the range of companies included in the Russell Midcap® Growth Index during the most recent 12-month period. The Adviser invests in domestic growth-oriented medium to small companies the advisor believes exhibit the potential for superior growth.

About Sit Mid Cap Growth (NBNGX)

There are 3 members of the management team with an average tenure of 23.24 years: Robert Sit (1997), Kent Johnson (2003), Roger Sit (2008). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Growth TR USD index with a weighting of 100%. Sit Mid Cap Growth has 65 securities in its portfolio. The top 10 holdings constitute 43.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Sit Mid Cap Growth is part of the Equity global asset class and is within the U.S. Equity fund group. Sit Mid Cap Growth has 4.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.2%. There is 4.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Sit Mid Cap Growth has 2.4% of the portfolio in cash.

Assets Under Management

The fund has $238 million in total assets, which is below the $672 million average for the Mid-Cap Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

NBNGX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Sit Mid Cap Growth expense ratio is high compared to funds in the Mid-Cap Growth category. Sit Mid Cap Growth has an expense ratio of 1.25%, which is 14% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Sit Mid Cap Growth has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 78% for the Mid-Cap Growth category.

Recently, in the month of August 2026, Sit Mid Cap Growth returned 2.0%, which earned it a grade of B, as the Mid-Cap Growth category had an average return of 1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Sit Mid Cap Growth has a trailing yield of 0.00%, which is below the 0.03% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Sit Mid Cap Growth Grades

Year to date, the fund has returned 13.7%, 6.5 percentage points better than the category, which translates into a grade of A. The fund has returned 15.9% over the past year (grade of A), 15.4% over the past three years (grade of B) and 6.3% per year over the past five years (grade of A) and 11.6% per year over the past 10 years (grade of B).

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