CFAGX vs. KMKAX
CFAGX (Commerce MidCap Growth Fund) and KMKAX (Kinetics Market Opportunities Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, CFAGX returned 9.88%/yr vs 19.61%/yr for KMKAX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. CFAGX charges 0.71%/yr vs 1.65%/yr for KMKAX.
Performance
CFAGX vs. KMKAX - Performance Comparison
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Returns By Period
In the year-to-date period, CFAGX achieves a 2.17% return, which is significantly lower than KMKAX's 14.25% return. Over the past 10 years, CFAGX has underperformed KMKAX with an annualized return of 9.88%, while KMKAX has yielded a comparatively higher 19.61% annualized return.
CFAGX
- 1D
- 0.05%
- 1M
- -3.26%
- 6M
- 2.88%
- YTD
- 2.17%
- 1Y
- -1.61%
- 3Y*
- 6.94%
- 5Y*
- 2.55%
- 10Y*
- 9.88%
- ALL TIME*
- 7.66%
KMKAX
- 1D
- 0.65%
- 1M
- 0.71%
- 6M
- 6.90%
- YTD
- 14.25%
- 1Y
- 8.46%
- 3Y*
- 31.08%
- 5Y*
- 15.16%
- 10Y*
- 19.61%
- ALL TIME*
- 12.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CFAGX vs. KMKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CFAGX Commerce MidCap Growth Fund | 2.17% | 1.58% | 11.77% | 17.74% | -20.31% | 19.12% | 23.78% | 34.41% | -4.55% | 23.39% |
KMKAX Kinetics Market Opportunities Fund | 14.25% | -3.31% | 83.58% | -7.57% | 14.69% | 27.69% | 19.31% | 22.42% | -10.92% | 46.89% |
Correlation
The correlation between CFAGX and KMKAX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2006 | 0.62 |
Over the past year, the correlation between CFAGX and KMKAX has dropped to 0.39 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
CFAGX vs. KMKAX — Risk / Return Rank
CFAGX
KMKAX
CFAGX vs. KMKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Commerce MidCap Growth Fund (CFAGX) and Kinetics Market Opportunities Fund (KMKAX). 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.
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.
| CFAGX | KMKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.07 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 0.31 | -0.55 |
| Martin ratioReturn relative to average drawdown | -0.61 | 0.69 | -1.30 |
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Drawdowns
CFAGX vs. KMKAX - Drawdown Comparison
The maximum CFAGX drawdown since its inception was -61.05%, smaller than the maximum KMKAX drawdown of -65.57%. Use the drawdown chart below to compare losses from any high point for CFAGX and KMKAX.
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Drawdown Indicators
| CFAGX | KMKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.05% | -65.57% | +4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -12.85% | -20.20% | +7.35% |
Max Drawdown (3Y)Largest decline over 3 years | -21.16% | -28.45% | +7.29% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -31.56% | +2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -34.23% | -31.56% | -2.67% |
Current DrawdownCurrent decline from peak | -4.40% | -16.43% | +12.03% |
Average DrawdownAverage peak-to-trough decline | -14.83% | -15.53% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.94% | 9.13% | -4.19% |
Volatility
CFAGX vs. KMKAX - Volatility Comparison
The current volatility for Commerce MidCap Growth Fund (CFAGX) is 4.75%, while Kinetics Market Opportunities Fund (KMKAX) has a volatility of 5.27%. This indicates that CFAGX experiences smaller price fluctuations and is considered to be less risky than KMKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFAGX | KMKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 5.27% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 19.50% | -7.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 24.44% | -9.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.52% | 26.50% | -7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.48% | 23.79% | -5.31% |
CFAGX vs. KMKAX - Expense Ratio Comparison
CFAGX has a 0.71% expense ratio, which is lower than KMKAX's 1.65% expense ratio.
Dividends
CFAGX vs. KMKAX - Dividend Comparison
CFAGX's dividend yield for the trailing twelve months is around 24.36%, more than KMKAX's 0.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFAGX Commerce MidCap Growth Fund | 24.36% | 24.89% | 10.80% | 6.77% | 2.00% | 19.35% | 4.23% | 6.59% | 10.81% | 7.05% | 5.27% | 8.83% |
KMKAX Kinetics Market Opportunities Fund | 0.53% | 0.61% | 0.66% | 0.69% | 1.19% | 1.29% | 0.02% | 0.07% | 9.28% | 0.51% | 0.00% | 0.00% |
Frequently Asked Questions
CFAGX and KMKAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMKAX has higher volatility (5.27%) compared to CFAGX (4.75%). In terms of maximum drawdown, CFAGX dropped -61.05% vs KMKAX's -65.57%.
KMKAX currently has the higher Sharpe Ratio (0.26 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.
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