- 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 34.6% since the beginning of the year. LSHAX is currently trading at $31 per share. Investors who bought $1,000 worth of LSHAX shares 5 years ago would now be looking at an investment worth $1,999.
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Compare this symbol against anything
Returns By Period
Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX) has returned 34.57% so far this year and 26.21% over the past 12 months. Looking at the last ten years, LSHAX has achieved an annualized return of 17.66%, outperforming the S&P 500 Index benchmark, which averaged 13.29% per year.
Kinetics Spin-Off and Corporate Restructuring Fund
- 1D
- 1.56%
- 1M
- -0.67%
- 6M
- 17.19%
- YTD
- 34.57%
- 1Y
- 26.21%
- 3Y*
- 26.69%
- 5Y*
- 14.86%
- 10Y*
- 17.66%
- ALL TIME*
- 8.54%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
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 +1.02%. At this rate, an investment would double in approximately 5.7 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% | 9.25% | -6.64% | 34.57% | |||||
| 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 2.06%, beta of 0.95, and R2 of 0.48 versus S&P 500 Index. Calculated based on daily prices since May 11, 2007.
- This fund participated in 106.00% of S&P 500 Index downside but only 105.44% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.48 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
- 2.06%
- Beta
- 0.95
- R²
- 0.48
- Upside Capture
- 105.44%
- Downside Capture
- 106.00%
Expense Ratio
LSHAX has a high expense ratio of 1.68%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LSHAX ranks 15 for risk / return — above 15% 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 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 | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.31 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 2.41 | -1.62 |
| Martin ratioReturn relative to average drawdown | 1.73 | 10.22 | -8.49 |
Dividends
Dividend History
Kinetics Spin-Off and Corporate Restructuring Fund provided a 8.61% 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 | 8.61% | 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 | $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 24.32%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-69.03%Mar 2009 | 1y 4mo | 5y 5mo | 6y 10moNov 2007 - Sep 2014 | Financial crisis2007–2009 |
-50.78%Mar 2020 | 2mo 1d | 8mo 29d | 11moJan 2020 - Dec 2020 | COVID crash2020 |
-45.79%Dec 2025 | 1y 21d | — | 1y 8moNov 2024 - now | — |
-36.79%Feb 2016 | 1y 5mo | 1y 7mo | 3y 1moSep 2014 - Oct 2017 | — |
-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 | -24.32% | -0.12% | -24.20% |
Average DrawdownAverage peak-to-trough decline | -21.96% | -10.70% | -11.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.96% | 2.14% | +10.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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