GSMYX vs. KMKNX

Last updated Aug 1, 2026

GSMYX (Goldman Sachs Small/Mid Cap Growth Fund) and KMKNX (Kinetics Market Opportunities Fund No Load Class) are both Mid Cap Growth Equities funds. Over the past 10 years, GSMYX returned 11.11%/yr vs 19.86%/yr for KMKNX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. GSMYX charges 0.89%/yr vs 1.40%/yr for KMKNX.

Performance

GSMYX vs. KMKNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) and Kinetics Market Opportunities Fund No Load Class (KMKNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GSMYX having a 13.73% return and KMKNX slightly lower at 13.70%. Over the past 10 years, GSMYX has underperformed KMKNX with an annualized return of 11.11%, while KMKNX has yielded a comparatively higher 19.86% annualized return.

GSMYX

• 1D: 3.00%
• 1M: -5.82%
• 6M: 10.39%
• YTD: 13.73%
• 1Y: 22.40%
• 3Y*: 9.73%
• 5Y*: 1.31%
• 10Y*: 11.11%
• ALL TIME*: 10.67%

KMKNX

• 1D: 1.14%
• 1M: 0.08%
• 6M: 3.35%
• YTD: 13.70%
• 1Y: 8.04%
• 3Y*: 30.78%
• 5Y*: 15.30%
• 10Y*: 19.86%
• ALL TIME*: 12.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GSMYX Goldman Sachs Small/Mid Cap Growth Fund	$0.00	$0.00	$0.00
KMKNX Kinetics Market Opportunities Fund No Load Class	$0.00	$0.00	$0.00

GSMYX vs. KMKNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSMYX Goldman Sachs Small/Mid Cap Growth Fund	13.73%	2.15%	12.88%	14.28%	-28.45%	7.93%	53.14%	38.25%	-5.63%	28.22%
KMKNX Kinetics Market Opportunities Fund No Load Class	13.70%	-3.09%	84.05%	-7.34%	14.98%	28.03%	19.56%	22.76%	-10.68%	47.26%

Correlation

The correlation between GSMYX and KMKNX is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.47
Correlation (All Time) Calculated using the full available price history since Feb 2, 2006	0.62

Over the past year, the correlation between GSMYX and KMKNX has dropped to 0.42 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

GSMYX vs. KMKNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSMYX

GSMYX Risk / Return Rank: 27
GSMYX Sharpe Ratio Rank: 23
GSMYX Sortino Ratio Rank: 24
GSMYX Omega Ratio Rank: 22
GSMYX Calmar Ratio Rank: 33
GSMYX Martin Ratio Rank: 35

KMKNX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GSMYX vs. KMKNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) and Kinetics Market Opportunities Fund No Load Class (KMKNX). 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.

	GSMYX	KMKNX	Difference
Sharpe ratio: Return per unit of total volatility	0.85	0.21	+0.65
Sortino ratio: Return per unit of downside risk	1.34	0.45	+0.89
Omega ratio: Gain probability vs. loss probability	1.16	1.06	+0.10
Calmar ratio: Return relative to maximum drawdown	1.52	0.25	+1.27
Martin ratio: Return relative to average drawdown	5.34	0.55	+4.78

GSMYX vs. KMKNX - Sharpe Ratio Comparison

The current GSMYX Sharpe Ratio is 0.85, which is higher than the KMKNX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of GSMYX and KMKNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSMYX vs. KMKNX - Drawdown Comparison

The maximum GSMYX drawdown since its inception was -55.00%, smaller than the maximum KMKNX drawdown of -65.47%. Use the drawdown chart below to compare losses from any high point for GSMYX and KMKNX.

Drawdown Indicators

	GSMYX	KMKNX	Difference
Max Drawdown Largest peak-to-trough decline	-55.00%	-65.47%	+10.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-20.13%	+7.57%
Max Drawdown (3Y) Largest decline over 3 years	-29.90%	-28.27%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-42.51%	-31.47%	-11.04%
Max Drawdown (10Y) Largest decline over 10 years	-42.51%	-31.47%	-11.04%
Current Drawdown Current decline from peak	-8.90%	-16.62%	+7.72%
Average Drawdown Average peak-to-trough decline	-10.84%	-15.29%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	9.07%	-5.49%

Volatility

GSMYX vs. KMKNX - Volatility Comparison

Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) has a higher volatility of 6.57% compared to Kinetics Market Opportunities Fund No Load Class (KMKNX) at 6.01%. This indicates that GSMYX's price experiences larger fluctuations and is considered to be riskier than KMKNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSMYX	KMKNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	6.01%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	18.49%	19.52%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	22.39%	24.43%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.97%	26.51%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.82%	23.79%	-0.97%

GSMYX vs. KMKNX - Expense Ratio Comparison

GSMYX has a 0.89% expense ratio, which is lower than KMKNX's 1.40% expense ratio.

Dividends

GSMYX vs. KMKNX - Dividend Comparison

GSMYX's dividend yield for the trailing twelve months is around 13.86%, more than KMKNX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSMYX Goldman Sachs Small/Mid Cap Growth Fund	13.86%	15.76%	0.67%	0.00%	0.00%	14.07%	13.51%	14.27%	20.82%	12.92%	3.50%	3.62%
KMKNX Kinetics Market Opportunities Fund No Load Class	0.58%	0.66%	0.81%	0.87%	1.36%	1.56%	0.26%	0.33%	9.13%	0.64%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSMYX and KMKNX in my portfolio?

GSMYX and KMKNX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSMYX or KMKNX?

GSMYX has higher volatility (6.57%) compared to KMKNX (6.01%). In terms of maximum drawdown, GSMYX dropped -55.00% vs KMKNX's -65.47%.

Which has better risk-adjusted returns?

GSMYX currently has the higher Sharpe Ratio (0.85 vs 0.21), 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.