AVDVX vs. KSCOX

Last updated Jun 4, 2026

AVDVX (Avantis International Small Cap Value Fund) and KSCOX (Kinetics Small Cap Opportunities Fund) are both mutual funds - AVDVX is a Foreign Small & Mid Cap Equities fund managed by Avantis Investors, while KSCOX is a Small Cap Growth Equities fund managed by Kinetics. Over the past 5 years, AVDVX returned 14.15%/yr vs 14.50%/yr for KSCOX. At a 0.49 correlation, their price movements are largely independent. AVDVX charges 0.36%/yr vs 1.64%/yr for KSCOX.

Performance

AVDVX vs. KSCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value Fund (AVDVX) and Kinetics Small Cap Opportunities Fund (KSCOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AVDVX having a 17.18% return and KSCOX slightly higher at 17.73%.

AVDVX

• 1D: 0.21%
• 1M: 3.96%
• YTD: 17.18%
• 6M: 20.98%
• 1Y: 45.11%
• 3Y*: 28.14%
• 5Y*: 14.15%
• 10Y*: —

KSCOX

• 1D: 0.37%
• 1M: -7.02%
• YTD: 17.73%
• 6M: 13.43%
• 1Y: 4.10%
• 3Y*: 25.90%
• 5Y*: 14.50%
• 10Y*: 19.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVDVX vs. KSCOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVDVX Avantis International Small Cap Value Fund	17.18%	48.24%	8.41%	16.75%	-10.88%	15.46%	5.65%	5.61%
KSCOX Kinetics Small Cap Opportunities Fund	17.73%	-8.66%	68.42%	-14.77%	31.96%	50.32%	2.30%	8.16%

Correlation

The correlation between AVDVX and KSCOX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.49

The correlation between AVDVX and KSCOX shifts across timeframes, from 0.29 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVDVX vs. KSCOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVDVX

AVDVX Risk / Return Rank: 80
AVDVX Sharpe Ratio Rank: 89
AVDVX Sortino Ratio Rank: 82
AVDVX Omega Ratio Rank: 80
AVDVX Calmar Ratio Rank: 76
AVDVX Martin Ratio Rank: 71

KSCOX

KSCOX Risk / Return Rank: 4
KSCOX Sharpe Ratio Rank: 4
KSCOX Sortino Ratio Rank: 4
KSCOX Omega Ratio Rank: 4
KSCOX Calmar Ratio Rank: 4
KSCOX Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVDVX vs. KSCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value Fund (AVDVX) and Kinetics Small Cap Opportunities Fund (KSCOX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AVDVX	KSCOX	Difference
Sharpe ratio: Return per unit of total volatility	2.92	0.20	+2.72
Sortino ratio: Return per unit of downside risk	3.88	0.45	+3.43
Omega ratio: Gain probability vs. loss probability	1.52	1.06	+0.46
Calmar ratio: Return relative to maximum drawdown	3.44	0.28	+3.16
Martin ratio: Return relative to average drawdown	13.67	0.63	+13.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVDVX vs. KSCOX - Sharpe Ratio Comparison

The current AVDVX Sharpe Ratio is 2.92, which is higher than the KSCOX Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of AVDVX and KSCOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVDVX	KSCOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	0.20	+2.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.52	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.58	+0.21

Drawdowns

AVDVX vs. KSCOX - Drawdown Comparison

The maximum AVDVX drawdown since its inception was -43.06%, smaller than the maximum KSCOX drawdown of -70.09%. Use the drawdown chart below to compare losses from any high point for AVDVX and KSCOX.

Drawdown Indicators

	AVDVX	KSCOX	Difference
Max Drawdown Largest peak-to-trough decline	-43.06%	-70.09%	+27.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-18.82%	+5.90%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-33.10%	+19.26%
Max Drawdown (5Y) Largest decline over 5 years	-27.37%	-33.10%	+5.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.09%	—
Current Drawdown Current decline from peak	-0.78%	-19.24%	+18.46%
Average Drawdown Average peak-to-trough decline	-6.72%	-14.89%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	8.24%	-5.00%

Volatility

AVDVX vs. KSCOX - Volatility Comparison

The current volatility for Avantis International Small Cap Value Fund (AVDVX) is 4.50%, while Kinetics Small Cap Opportunities Fund (KSCOX) has a volatility of 6.04%. This indicates that AVDVX experiences smaller price fluctuations and is considered to be less risky than KSCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVDVX	KSCOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	6.04%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	21.67%	-9.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	25.88%	-10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	27.83%	-11.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.41%	26.13%	-6.72%

AVDVX vs. KSCOX - Expense Ratio Comparison

AVDVX has a 0.36% expense ratio, which is lower than KSCOX's 1.64% expense ratio.

Dividends

AVDVX vs. KSCOX - Dividend Comparison

AVDVX's dividend yield for the trailing twelve months is around 8.94%, more than KSCOX's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDVX Avantis International Small Cap Value Fund	8.94%	10.48%	4.35%	3.52%	3.33%	4.23%	1.35%	0.39%
KSCOX Kinetics Small Cap Opportunities Fund	0.15%	0.18%	3.58%	6.71%	0.00%	1.67%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVDVX and KSCOX in my portfolio?

AVDVX and KSCOX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVDVX or KSCOX?

KSCOX has higher volatility (6.04%) compared to AVDVX (4.50%). In terms of maximum drawdown, AVDVX dropped -43.06% vs KSCOX's -70.09%.

Which has better risk-adjusted returns?

AVDVX currently has the higher Sharpe Ratio (2.92 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.