- ISIN
- US4946135575
- CUSIP
- 494613557
- Issuer
- Kinetics
- Inception Date
- May 4, 2007
- 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
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Performance
LSHAX Performance Chart
Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX) is up 21.5% since the beginning of the year. LSHAX is currently trading at $28 per share. Investors who bought $1,000 worth of LSHAX shares 5 years ago would now be looking at an investment worth $1,799.
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Returns By Period
Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX) has returned 21.51% so far this year and 0.02% over the past 12 months. Looking at the last ten years, LSHAX has achieved an annualized return of 16.50%, outperforming the S&P 500 Index benchmark, which averaged 13.88% per year.
Kinetics Spin-Off and Corporate Restructuring Fund
- 1D
- 0.32%
- 1M
- -10.42%
- YTD
- 21.51%
- 6M
- 16.28%
- 1Y
- 0.02%
- 3Y*
- 25.23%
- 5Y*
- 12.46%
- 10Y*
- 16.50%
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%
LSHAX Monthly Returns History
Based on dividend-adjusted daily data since May 11, 2007, LSHAX's average daily return is +0.05%, while the average monthly return is +0.98%. At this rate, an investment would double in approximately 5.9 years.
Historically, 56% of months were positive and 44% were negative. The best month was Feb 2026 with a return of +40.0%, while the worst month was Mar 2020 at -32.8%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 7 months.
On a daily basis, LSHAX closed higher 52% of trading days. The best single day was Jun 10, 2024 with a return of +15.8%, while the worst single day was Mar 9, 2020 at -13.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 18.28% | 39.98% | -8.04% | -4.53% | -9.22% | -7.91% | 21.51% | ||||||
| 2025 | 12.83% | 7.81% | -5.86% | -2.31% | -10.50% | -4.26% | -7.64% | -2.99% | -0.25% | 1.71% | -6.54% | -1.19% | -19.53% |
| 2024 | -4.51% | 5.46% | 7.01% | -0.60% | 6.23% | 13.31% | 14.86% | 1.98% | 2.52% | 22.62% | 29.37% | -25.83% | 82.16% |
| 2023 | -7.62% | -7.56% | -4.11% | -8.19% | -6.59% | 2.22% | 9.34% | 13.22% | -2.56% | -0.55% | -5.10% | -1.78% | -19.74% |
| 2022 | -8.92% | 4.80% | 9.28% | -2.52% | 8.55% | -7.28% | 17.85% | -1.45% | -4.83% | 21.47% | 9.04% | -6.93% | 39.45% |
| 2021 | 6.16% | 20.65% | 23.14% | 0.59% | -2.75% | 6.88% | -4.40% | -4.16% | -7.74% | 3.47% | -5.08% | 4.28% | 42.75% |
Benchmark Metrics
Kinetics Spin-Off and Corporate Restructuring Fund has an annualized alpha of 1.48%, beta of 0.95, and R2 of 0.49 versus S&P 500 Index. Calculated based on daily prices since May 11, 2007.
- This fund participated in 108.34% of S&P 500 Index downside but only 105.44% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.49 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
- 1.48%
- Beta
- 0.95
- R²
- 0.49
- Upside Capture
- 105.44%
- Downside Capture
- 108.34%
Expense Ratio
LSHAX has a high expense ratio of 1.68%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LSHAX 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 Spin-Off and Corporate Restructuring Fund (LSHAX) 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.
| LSHAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.37 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | 2.78 | -2.77 |
| Martin ratioReturn relative to average drawdown | 0.02 | 12.44 | -12.42 |
Dividends
Dividend History
Kinetics Spin-Off and Corporate Restructuring Fund provided a 9.54% dividend yield over the last twelve months, with an annual payout of $2.69 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.69 | $2.69 | $1.50 | $1.73 | $0.44 | $0.02 | $0.07 | $0.00 | $0.45 | $0.42 | $0.18 |
Dividend yield | 9.54% | 11.59% | 4.66% | 9.40% | 1.76% | 0.11% | 0.53% | 0.00% | 4.85% | 3.94% | 1.84% |
Monthly Dividends
The table displays the monthly dividend distributions for Kinetics Spin-Off and Corporate Restructuring 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 | $2.69 | $2.69 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.50 | $1.50 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.73 | $1.73 |
| 2022 | $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 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
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 Spin-Off and Corporate Restructuring 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 Spin-Off and Corporate Restructuring Fund was 69.03%, occurring on Mar 9, 2009. Recovery took 1382 trading sessions.
The current Kinetics Spin-Off and Corporate Restructuring Fund drawdown is 31.67%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -69.03%Mar 2009 | 1y 4mo | 5y 5mo | 6y 10moNov 2007 - Sep 2014 |
COVID crash2020 | -50.78%Mar 2020 | 2mo 1d | 8mo 29d | 11moJan 2020 - Dec 2020 |
2025 bear market2025 | -45.79%Dec 2025 | 1y 21d | — | 1y 7moNov 2024 - now |
2016 bear market2016 | -36.79%Feb 2016 | 1y 5mo | 1y 7mo | 3y 1moSep 2014 - Oct 2017 |
2023 bear market2023 | -36.68%May 2023 | 6mo 16d | 1y 1mo | 1y 7moNov 2022 - Jul 2024 |
Drawdown Indicators
| LSHAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.03% | -56.78% | -12.25% |
Max Drawdown (1Y)Largest decline over 1 year | -28.39% | -9.10% | -19.29% |
Max Drawdown (3Y)Largest decline over 3 years | -45.79% | -18.90% | -26.89% |
Max Drawdown (5Y)Largest decline over 5 years | -45.79% | -25.43% | -20.36% |
Max Drawdown (10Y)Largest decline over 10 years | -50.78% | -33.92% | -16.86% |
Current DrawdownCurrent decline from peak | -31.67% | -1.80% | -29.87% |
Average DrawdownAverage peak-to-trough decline | -21.95% | -10.71% | -11.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.44% | 2.03% | +11.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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