- ISIN
- US4946138397
- Issuer
- Kinetics
- Inception Date
- Dec 31, 2001
- Category
- Small Cap Growth Equities
- Min. Investment
- $2,500
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
KSOAX Performance Chart
Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) is up 13.3% since the beginning of the year. KSOAX is currently trading at $168 per share. Investors who bought $1,000 worth of KSOAX shares 5 years ago would now be looking at an investment worth $1,860.
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Returns By Period
Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) has returned 13.32% so far this year and 2.12% over the past 12 months. Looking at the last ten years, KSOAX has achieved an annualized return of 18.55%, outperforming the S&P 500 Index benchmark, which averaged 13.88% per year.
Kinetics Small Capital Opportunities Advisor Fund Class A
- 1D
- 0.22%
- 1M
- -8.44%
- YTD
- 13.32%
- 6M
- 9.91%
- 1Y
- 2.12%
- 3Y*
- 24.02%
- 5Y*
- 13.22%
- 10Y*
- 18.55%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.15%
- 1Y
- 24.03%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KSOAX Monthly Returns History
Based on dividend-adjusted daily data since Dec 27, 2001, KSOAX'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, 58% of months were positive and 42% were negative. The best month was Feb 2026 with a return of +25.3%, 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, KSOAX 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 | 13.27% | 25.33% | -7.56% | -1.92% | -5.96% | -6.39% | 13.32% | ||||||
| 2025 | 10.05% | 4.08% | -4.39% | -0.87% | -5.85% | -1.25% | -3.96% | -0.77% | 0.20% | 0.86% | -4.98% | -1.37% | -8.89% |
| 2024 | -3.39% | 5.94% | 6.36% | -2.98% | 5.54% | 9.35% | 12.75% | 2.73% | 3.13% | 18.46% | 23.28% | -20.99% | 68.00% |
| 2023 | -5.46% | -6.94% | -2.93% | -6.33% | -6.72% | 3.07% | 6.97% | 9.26% | -2.40% | -0.05% | -2.79% | -0.24% | -14.98% |
| 2022 | -8.45% | 8.06% | 9.65% | -3.60% | 5.93% | -8.35% | 16.38% | -2.54% | -4.95% | 18.12% | 7.86% | -5.60% | 31.64% |
| 2021 | 5.81% | 21.95% | 24.29% | 0.31% | -4.51% | 5.36% | -2.98% | -4.88% | -6.49% | 9.04% | -3.96% | 2.51% | 49.94% |
Benchmark Metrics
Kinetics Small Capital Opportunities Advisor Fund Class A has an annualized alpha of 6.23%, beta of 0.79, and R2 of 0.45 versus S&P 500 Index. Calculated based on daily prices since December 27, 2001.
- This fund captured 115.07% of S&P 500 Index gains but only 98.11% of its losses - a favorable profile for investors.
- R2 of 0.45 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
- 6.23%
- Beta
- 0.79
- R²
- 0.45
- Upside Capture
- 115.07%
- Downside Capture
- 98.11%
Expense Ratio
KSOAX has a high expense ratio of 1.89%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
KSOAX ranks 3 for risk / return — in the bottom 3% 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 Small Capital Opportunities Advisor Fund Class A (KSOAX) 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.
| KSOAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.37 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 2.78 | -2.69 |
| Martin ratioReturn relative to average drawdown | 0.23 | 12.44 | -12.20 |
Dividends
Dividend History
Kinetics Small Capital Opportunities Advisor Fund Class A provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $5.71 | $6.72 | $0.00 | $1.34 |
Dividend yield | 0.00% | 0.00% | 3.52% | 6.72% | 0.00% | 1.41% |
Monthly Dividends
The table displays the monthly dividend distributions for Kinetics Small Capital Opportunities Advisor Fund Class A. 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 | $0.00 | $0.00 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.71 | $5.71 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.72 | $6.72 |
| 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 | $1.34 | $1.34 |
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 Capital Opportunities Advisor Fund Class A. 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 Capital Opportunities Advisor Fund Class A was 70.21%, occurring on Mar 9, 2009. Recovery took 1059 trading sessions.
The current Kinetics Small Capital Opportunities Advisor Fund Class A drawdown is 22.48%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -70.21%Mar 2009 | 1y 4mo | 4y 2mo | 5y 6moNov 2007 - May 2013 |
COVID crash2020 | -47.11%Mar 2020 | 1mo 2d | 9mo 18d | 10mo 20dFeb 2020 - Jan 2021 |
2016 bear market2016 | -35.76%Feb 2016 | 1y 5mo | 1y 5mo | 2y 10moSep 2014 - Jul 2017 |
Dot-com crash2000–2002 | -34.63%Oct 2002 | 5mo 24d | 1y 3d | 1y 5moApr 2002 - Oct 2003 |
2025 bear market2025 | -33.28%Dec 2025 | 1y 21d | — | 1y 7moNov 2024 - now |
Drawdown Indicators
| KSOAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.21% | -56.78% | -13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -21.58% | -9.10% | -12.48% |
Max Drawdown (3Y)Largest decline over 3 years | -33.28% | -18.90% | -14.38% |
Max Drawdown (5Y)Largest decline over 5 years | -33.28% | -25.43% | -7.85% |
Max Drawdown (10Y)Largest decline over 10 years | -47.11% | -33.92% | -13.19% |
Current DrawdownCurrent decline from peak | -22.48% | -1.80% | -20.68% |
Average DrawdownAverage peak-to-trough decline | -15.88% | -10.71% | -5.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.99% | 2.03% | +6.96% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with KSOAX
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