Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX)
The investment seeks to achieve long-term growth of capital. The fund will pursue its investment objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of spin-off companies, companies subject to other forms of corporate restructuring, parents of any such companies, and publicly traded shareholder activist holding companies which, by way of their shareholder ownership in other companies, have caused such other companies to undergo spin-offs and other forms of corporate restructurings. It may invest in any size company, including small- and medium-sized companies. The fund is non-diversified.
Fund Info
| ISIN | US4946135575 |
|---|---|
| CUSIP | 494613557 |
| Issuer | Kinetics |
| Inception Date | May 4, 2007 |
| Category | Mid Cap Growth Equities |
| Min. Investment | $2,500 |
| Asset Class | Equity |
Asset Class Size | Mid-Cap |
Asset Class Style | Growth |
Expense Ratio
LSHAX has a high expense ratio of 1.68%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: LSHAX vs. VIGAX, LSHAX vs. SCHG
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Kinetics Spin-Off and Corporate Restructuring Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Kinetics Spin-Off and Corporate Restructuring Fund had a return of 52.88% year-to-date (YTD) and 40.15% in the last 12 months. Over the past 10 years, Kinetics Spin-Off and Corporate Restructuring Fund had an annualized return of 12.59%, outperforming the S&P 500 benchmark which had an annualized return of 10.85%.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 52.88% | 17.79% |
| 1 month | 4.14% | 0.18% |
| 6 months | 44.26% | 7.53% |
| 1 year | 40.15% | 26.42% |
| 5 years (annualized) | 23.68% | 13.48% |
| 10 years (annualized) | 12.59% | 10.85% |
Monthly Returns
The table below presents the monthly returns of LSHAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -4.51% | 5.46% | 7.01% | -0.60% | 6.23% | 13.31% | 14.86% | 1.98% | 52.88% | ||||
| 2023 | -7.62% | -7.56% | -4.11% | -8.19% | -6.59% | 2.22% | 9.34% | 13.22% | -2.56% | -0.55% | -5.10% | -1.92% | -19.85% |
| 2022 | -8.92% | 4.81% | 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% |
| 2020 | -2.12% | -7.01% | -32.83% | 24.97% | 4.70% | 1.53% | -0.50% | 2.42% | -7.30% | -2.45% | 25.19% | 12.28% | 5.23% |
| 2019 | 17.26% | 5.58% | 0.26% | 3.45% | -7.76% | 6.79% | 1.87% | -10.07% | 0.74% | -3.40% | 7.32% | 8.50% | 31.30% |
| 2018 | 5.72% | -3.19% | 0.00% | 0.73% | 8.55% | 1.42% | 1.40% | 5.46% | 1.16% | -10.53% | -9.39% | -7.74% | -8.18% |
| 2017 | 1.25% | 1.13% | -1.32% | 1.34% | -1.43% | 1.86% | 4.87% | 3.48% | 1.31% | 0.37% | 0.18% | 1.75% | 15.65% |
| 2016 | -10.20% | 1.15% | 7.44% | 0.00% | 2.00% | 1.61% | 1.36% | -0.33% | 3.59% | -1.62% | 6.05% | 1.30% | 11.86% |
| 2015 | -3.14% | 8.46% | -0.00% | -1.54% | 0.10% | -1.66% | -2.78% | -6.65% | -3.72% | 6.03% | -0.21% | -6.13% | -11.64% |
| 2014 | -3.46% | 6.28% | -1.88% | -1.34% | 2.13% | 2.37% | -2.59% | 4.57% | -5.91% | 0.19% | 0.87% | -5.46% | -4.91% |
| 2013 | 8.11% | 2.04% | 2.87% | 5.94% | 3.09% | -3.11% | 3.78% | -2.54% | 7.70% | 5.57% | 3.29% | 0.19% | 42.92% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of LSHAX is 41, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Kinetics Spin-Off and Corporate Restructuring Fund granted a 6.06% dividend yield in the last twelve months. The annual payout for that period amounted to $1.71 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.71 | $1.71 | $0.44 | $0.02 | $0.07 | $0.00 | $0.45 | $0.42 | $0.18 |
Dividend yield | 6.06% | 9.26% | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.71 | $1.71 |
| 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 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.07 |
| 2019 | $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 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.45 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.42 |
| 2016 | $0.18 | $0.18 |
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.
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 68.98%, occurring on Mar 9, 2009. Recovery took 1381 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -68.98% | Nov 1, 2007 | 338 | Mar 9, 2009 | 1381 | Sep 3, 2014 | 1719 |
| -50.78% | Jan 22, 2020 | 43 | Mar 23, 2020 | 188 | Dec 17, 2020 | 231 |
| -36.79% | Sep 4, 2014 | 363 | Feb 11, 2016 | 415 | Oct 4, 2017 | 778 |
| -36.68% | Nov 16, 2022 | 134 | May 31, 2023 | 280 | Jul 12, 2024 | 414 |
| -31.84% | Oct 4, 2018 | 56 | Dec 24, 2018 | 264 | Jan 13, 2020 | 320 |
Volatility
Volatility Chart
The current Kinetics Spin-Off and Corporate Restructuring Fund volatility is 8.24%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.