DSMDX vs. WWNPX

Last updated Apr 2, 2026

Compare and contrast key facts about Driehaus Small/Mid Cap Growth Fund (DSMDX) and Kinetics Paradigm Fund (WWNPX).

DSMDX is managed by Driehaus. It was launched on Apr 30, 2020. WWNPX is managed by Kinetics. It was launched on Dec 31, 1999.

Performance

DSMDX vs. WWNPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Small/Mid Cap Growth Fund (DSMDX) and Kinetics Paradigm Fund (WWNPX). The values are adjusted to include any dividend payments, if applicable.

DSMDX vs. WWNPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DSMDX Driehaus Small/Mid Cap Growth Fund	0.82%	9.83%	26.45%	20.71%	-31.46%	17.96%	74.27%
WWNPX Kinetics Paradigm Fund	38.76%	-14.61%	88.34%	-16.97%	29.18%	38.14%	33.20%

Returns By Period

In the year-to-date period, DSMDX achieves a 0.82% return, which is significantly lower than WWNPX's 38.76% return.

DSMDX

• 1D: 5.20%
• 1M: -9.64%
• YTD: 0.82%
• 6M: 1.94%
• 1Y: 31.49%
• 3Y*: 17.35%
• 5Y*: 4.91%
• 10Y*: —

WWNPX

• 1D: 1.54%
• 1M: -9.22%
• YTD: 38.76%
• 6M: 23.34%
• 1Y: 3.39%
• 3Y*: 30.92%
• 5Y*: 16.21%
• 10Y*: 20.72%

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

DSMDX vs. WWNPX - Expense Ratio Comparison

DSMDX has a 0.95% expense ratio, which is lower than WWNPX's 1.64% expense ratio.

WWNPX

Kinetics Paradigm Fund

DSMDX

Driehaus Small/Mid Cap Growth Fund

Return for Risk

DSMDX vs. WWNPX — Risk / Return Rank

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

DSMDX

DSMDX Risk / Return Rank: 57
DSMDX Sharpe Ratio Rank: 55
DSMDX Sortino Ratio Rank: 53
DSMDX Omega Ratio Rank: 46
DSMDX Calmar Ratio Rank: 70
DSMDX Martin Ratio Rank: 59

WWNPX

WWNPX Risk / Return Rank: 8
WWNPX Sharpe Ratio Rank: 7
WWNPX Sortino Ratio Rank: 9
WWNPX Omega Ratio Rank: 8
WWNPX Calmar Ratio Rank: 9
WWNPX Martin Ratio Rank: 7

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.

DSMDX vs. WWNPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Small/Mid Cap Growth Fund (DSMDX) and Kinetics Paradigm Fund (WWNPX). 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.

	DSMDX	WWNPX	Difference
Sharpe ratio Return per unit of total volatility	1.15	0.15	+1.01
Sortino ratio Return per unit of downside risk	1.64	0.46	+1.18
Omega ratio Gain probability vs. loss probability	1.22	1.06	+0.16
Calmar ratio Return relative to maximum drawdown	1.90	0.20	+1.71
Martin ratio Return relative to average drawdown	6.81	0.32	+6.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSMDX vs. WWNPX - Sharpe Ratio Comparison

The current DSMDX Sharpe Ratio is 1.15, which is higher than the WWNPX Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of DSMDX and WWNPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DSMDX	WWNPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	0.15	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.50	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.55	+0.06

Correlation

The correlation between DSMDX and WWNPX is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DSMDX vs. WWNPX - Dividend Comparison

DSMDX's dividend yield for the trailing twelve months is around 0.41%, less than WWNPX's 5.92% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DSMDX Driehaus Small/Mid Cap Growth Fund	0.41%	0.41%	0.33%	0.00%	3.72%	7.93%	1.37%	0.00%	0.00%
WWNPX Kinetics Paradigm Fund	5.92%	8.21%	2.95%	5.65%	2.00%	1.67%	2.15%	1.00%	10.44%

Drawdowns

DSMDX vs. WWNPX - Drawdown Comparison

The maximum DSMDX drawdown since its inception was -41.90%, smaller than the maximum WWNPX drawdown of -67.87%. Use the drawdown chart below to compare losses from any high point for DSMDX and WWNPX.

Drawdown Indicators

	DSMDX	WWNPX	Difference
Max Drawdown Largest peak-to-trough decline	-41.90%	-67.87%	+25.97%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-32.61%	+18.10%
Max Drawdown (5Y) Largest decline over 5 years	-41.90%	-41.13%	-0.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.51%	—
Current Drawdown Current decline from peak	-10.06%	-15.90%	+5.84%
Average Drawdown Average peak-to-trough decline	-16.11%	-13.85%	-2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	20.16%	-16.10%

Volatility

DSMDX vs. WWNPX - Volatility Comparison

Driehaus Small/Mid Cap Growth Fund (DSMDX) has a higher volatility of 11.66% compared to Kinetics Paradigm Fund (WWNPX) at 9.22%. This indicates that DSMDX's price experiences larger fluctuations and is considered to be riskier than WWNPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSMDX	WWNPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.66%	9.22%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	20.06%	24.58%	-4.52%
Volatility (1Y) Calculated over the trailing 1-year period	27.70%	36.48%	-8.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.63%	32.56%	-6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.96%	28.17%	-2.21%