- ISIN
- US4946137068
- CUSIP
- 494613706
- Issuer
- Kinetics
- Inception Date
- Mar 20, 2000
- Category
- Small Cap Growth Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
KSCOX Performance Chart
Kinetics Small Cap Opportunities Fund (KSCOX) is up 21.2% since the beginning of the year. KSCOX is currently trading at $187 per share. Investors who bought $1,000 worth of KSCOX shares 5 years ago would now be looking at an investment worth $2,004.
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Returns By Period
Kinetics Small Cap Opportunities Fund (KSCOX) has returned 21.18% so far this year and 16.41% over the past 12 months. Looking at the last ten years, KSCOX has achieved an annualized return of 19.57%, outperforming the S&P 500 Index benchmark, which averaged 13.26% per year.
Kinetics Small Cap Opportunities Fund
- 1D
- 0.90%
- 1M
- -1.33%
- 6M
- 6.96%
- YTD
- 21.18%
- 1Y
- 16.41%
- 3Y*
- 24.47%
- 5Y*
- 14.92%
- 10Y*
- 19.57%
- ALL TIME*
- 12.75%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
KSCOX Monthly Returns History
Based on dividend-adjusted daily data since Mar 20, 2000, KSCOX's average daily return is +0.06%, while the average monthly return is +1.24%. At this rate, an investment would double in approximately 4.7 years.
Historically, 58% of months were positive and 42% were negative. The best month was Feb 2026 with a return of +25.4%, while the worst month was Mar 2020 at -29.6%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, KSCOX closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +14.0%, while the worst single day was Mar 9, 2020 at -12.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 13.29% | 25.35% | -7.54% | -1.90% | -5.94% | 6.09% | -5.73% | 21.18% | |||||
| 2025 | 10.07% | 4.10% | -4.36% | -0.85% | -5.83% | -1.22% | -3.95% | -0.75% | 0.21% | 0.89% | -4.96% | -1.34% | -8.66% |
| 2024 | -3.37% | 5.95% | 6.38% | -2.95% | 5.55% | 9.38% | 12.79% | 2.74% | 3.15% | 18.49% | 23.30% | -20.97% | 68.42% |
| 2023 | -5.45% | -6.91% | -2.91% | -6.31% | -6.71% | 3.09% | 6.99% | 9.28% | -2.39% | -0.03% | -2.77% | -0.22% | -14.77% |
| 2022 | -8.44% | 8.09% | 9.67% | -3.57% | 5.95% | -8.34% | 16.40% | -2.52% | -4.93% | 18.15% | 7.88% | -5.58% | 31.96% |
| 2021 | 5.82% | 21.98% | 24.32% | 0.34% | -4.49% | 5.38% | -2.96% | -4.86% | -6.46% | 9.05% | -3.93% | 2.54% | 50.32% |
Benchmark Metrics
Kinetics Small Cap Opportunities Fund has an annualized alpha of 8.81%, beta of 0.76, and R2 of 0.44 versus S&P 500 Index. Calculated based on daily prices since March 20, 2000.
- This fund captured 121.40% of S&P 500 Index gains but only 91.41% of its losses - a favorable profile for investors.
- R2 of 0.44 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
- 8.81%
- Beta
- 0.76
- R²
- 0.44
- Upside Capture
- 121.40%
- Downside Capture
- 91.41%
Expense Ratio
KSCOX has a high expense ratio of 1.64%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
KSCOX ranks 11 for risk / return — above 11% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Kinetics Small Cap Opportunities Fund (KSCOX) 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.
| KSCOX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 2.00 | -1.41 |
| Martin ratioReturn relative to average drawdown | 1.34 | 8.49 | -7.15 |
Dividends
Dividend History
Kinetics Small Cap Opportunities Fund provided a 0.15% dividend yield over the last twelve months, with an annual payout of $0.28 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.28 | $0.28 | $6.07 | $7.00 | $0.00 | $1.65 |
Dividend yield | 0.15% | 0.18% | 3.58% | 6.71% | 0.00% | 1.67% |
Monthly Dividends
The table displays the monthly dividend distributions for Kinetics Small Cap 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 | $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 | $0.28 | $0.28 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.07 | $6.07 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7.00 | $7.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $1.65 | $1.65 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Kinetics Small Cap 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 Small Cap Opportunities Fund was 70.09%, occurring on Mar 9, 2009. Recovery took 1055 trading sessions.
The current Kinetics Small Cap Opportunities Fund drawdown is 16.87%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-70.09%Mar 2009 | 1y 4mo | 4y 2mo | 5y 6moNov 2007 - May 2013 | Financial crisis2007–2009 |
-47.09%Mar 2020 | 1mo 2d | 9mo 18d | 10mo 20dFeb 2020 - Jan 2021 | COVID crash2020 |
-35.54%Feb 2016 | 1y 5mo | 1y 5mo | 2y 10moSep 2014 - Jul 2017 | — |
-34.58%Oct 2002 | 5mo 24d | 1y 3d | 1y 5moApr 2002 - Oct 2003 | Dot-com crash2000–2002 |
-33.10%Dec 2025 | 1y 21d | — | 1y 8moNov 2024 - now | — |
Drawdown Indicators
| KSCOX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.09% | -56.78% | -13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -21.54% | -9.10% | -12.44% |
Max Drawdown (3Y)Largest decline over 3 years | -33.10% | -18.90% | -14.20% |
Max Drawdown (5Y)Largest decline over 5 years | -33.10% | -25.43% | -7.67% |
Max Drawdown (10Y)Largest decline over 10 years | -47.09% | -33.92% | -13.17% |
Current DrawdownCurrent decline from peak | -16.87% | -1.58% | -15.29% |
Average DrawdownAverage peak-to-trough decline | -14.90% | -10.70% | -4.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.61% | 2.14% | +7.47% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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