- ISIN
- US4946137712
- Issuer
- Kinetics
- Inception Date
- Jan 31, 2006
- Category
- Mid Cap Growth Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
KMKAX Performance Chart
Kinetics Market Opportunities Fund (KMKAX) is up 6.6% since the beginning of the year. KMKAX is currently trading at $77 per share. Investors who bought $1,000 worth of KMKAX shares 5 years ago would now be looking at an investment worth $1,930.
Loading charts...
Returns By Period
Kinetics Market Opportunities Fund (KMKAX) has returned 6.64% so far this year and -2.47% over the past 12 months. Looking at the last ten years, KMKAX has achieved an annualized return of 18.72%, outperforming the S&P 500 Index benchmark, which averaged 13.88% per year.
Kinetics Market Opportunities Fund
- 1D
- 0.18%
- 1M
- -9.71%
- YTD
- 6.64%
- 6M
- 4.18%
- 1Y
- -2.47%
- 3Y*
- 30.85%
- 5Y*
- 14.05%
- 10Y*
- 18.72%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KMKAX Monthly Returns History
Based on dividend-adjusted daily data since Feb 2, 2006, KMKAX's average daily return is +0.05%, while the average monthly return is +1.15%. At this rate, an investment would double in approximately 5.1 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2024 with a return of +30.0%, while the worst month was Oct 2008 at -22.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, KMKAX closed higher 53% of trading days. The best single day was Jun 10, 2024 with a return of +10.9%, while the worst single day was Mar 9, 2020 at -9.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.98% | 18.53% | -6.08% | -0.32% | -5.85% | -7.19% | 6.64% | ||||||
| 2025 | 11.74% | 2.21% | -3.71% | 0.40% | -3.23% | -0.97% | -1.76% | -0.78% | 1.62% | -0.27% | -6.38% | -1.18% | -3.31% |
| 2024 | -1.48% | 12.36% | 7.95% | -5.41% | 7.38% | 5.85% | 11.71% | -0.29% | 2.89% | 20.55% | 29.99% | -20.43% | 83.58% |
| 2023 | -6.83% | -6.63% | 0.23% | -6.40% | -6.95% | 3.70% | 6.55% | 10.35% | -1.90% | 3.44% | -2.23% | 0.63% | -7.57% |
| 2022 | -9.41% | 5.30% | 6.63% | -3.31% | 1.49% | -8.16% | 13.13% | -1.93% | -3.63% | 16.74% | 6.94% | -6.29% | 14.69% |
| 2021 | 4.59% | 16.40% | 19.75% | -1.16% | -9.01% | 4.01% | -0.63% | -2.42% | -6.46% | 11.58% | -4.00% | -3.63% | 27.69% |
Benchmark Metrics
Kinetics Market Opportunities Fund has an annualized alpha of 5.49%, beta of 0.79, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since February 02, 2006.
- This fund captured 107.06% of S&P 500 Index gains but only 95.25% of its losses - a favorable profile for investors.
- R2 of 0.46 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 5.49%
- Beta
- 0.79
- R²
- 0.46
- Upside Capture
- 107.06%
- Downside Capture
- 95.25%
Expense Ratio
KMKAX has a high expense ratio of 1.65%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
KMKAX ranks 2 for risk / return — in the bottom 2% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Kinetics Market Opportunities Fund (KMKAX) and compare them to S&P 500 Index.
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.
| KMKAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.37 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 2.78 | -2.91 |
| Martin ratioReturn relative to average drawdown | -0.32 | 12.44 | -12.76 |
Dividends
Dividend History
Kinetics Market Opportunities Fund provided a 0.57% dividend yield over the last twelve months, with an annual payout of $0.44 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.44 | $0.44 | $0.49 | $0.28 | $0.53 | $0.51 | $0.01 | $0.02 | $1.99 | $0.14 |
Dividend yield | 0.57% | 0.61% | 0.66% | 0.69% | 1.19% | 1.29% | 0.02% | 0.07% | 9.28% | 0.51% |
Monthly Dividends
The table displays the monthly dividend distributions for Kinetics Market Opportunities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.44 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.49 | $0.49 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.28 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.53 | $0.53 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.51 | $0.51 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Kinetics Market Opportunities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Kinetics Market Opportunities Fund was 65.57%, occurring on Mar 9, 2009. Recovery took 1150 trading sessions.
The current Kinetics Market Opportunities Fund drawdown is 22.00%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -65.57%Mar 2009 | 1y 4mo | 4y 6mo | 5y 11moNov 2007 - Oct 2013 |
2023 bear market2023 | -31.56%May 2023 | 6mo 18d | 10mo 15d | 1y 4moNov 2022 - Apr 2024 |
COVID crash2020 | -31.35%Mar 2020 | 1mo 9d | 8mo 6d | 9mo 15dFeb 2020 - Nov 2020 |
2025 bear market2025 | -28.45%Dec 2025 | 1y 21d | — | 1y 7moNov 2024 - now |
Bear market2022 | -26.85%Jan 2022 | 8mo 22d | 9mo 11d | 1y 5moMay 2021 - Nov 2022 |
Drawdown Indicators
| KMKAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.57% | -56.78% | -8.79% |
Max Drawdown (1Y)Largest decline over 1 year | -20.20% | -9.10% | -11.10% |
Max Drawdown (3Y)Largest decline over 3 years | -28.45% | -18.90% | -9.55% |
Max Drawdown (5Y)Largest decline over 5 years | -31.56% | -25.43% | -6.13% |
Max Drawdown (10Y)Largest decline over 10 years | -31.56% | -33.92% | +2.36% |
Current DrawdownCurrent decline from peak | -22.00% | -1.80% | -20.20% |
Average DrawdownAverage peak-to-trough decline | -15.52% | -10.71% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.79% | 2.03% | +5.76% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with KMKAX
Add Kinetics Market Opportunities Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with KMKAX