KMKAX vs. KSOAX
Compare and contrast key facts about Kinetics Market Opportunities Fund (KMKAX) and Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX).
KMKAX is managed by Kinetics. It was launched on Jan 31, 2006. KSOAX is managed by Kinetics. It was launched on Dec 31, 2001.
Performance
KMKAX vs. KSOAX - Performance Comparison
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KMKAX vs. KSOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMKAX Kinetics Market Opportunities Fund | 20.74% | -3.31% | 83.58% | -7.57% | 14.69% | 27.69% | 19.31% | 22.42% | -10.92% | 46.89% |
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A | 29.65% | -8.89% | 68.00% | -14.98% | 31.64% | 49.94% | 2.04% | 26.72% | 0.00% | 25.94% |
Returns By Period
In the year-to-date period, KMKAX achieves a 20.74% return, which is significantly lower than KSOAX's 29.65% return. Both investments have delivered pretty close results over the past 10 years, with KMKAX having a 20.63% annualized return and KSOAX not far ahead at 20.86%.
KMKAX
- 1D
- -4.58%
- 1M
- -7.38%
- YTD
- 20.74%
- 6M
- 11.41%
- 1Y
- 6.16%
- 3Y*
- 31.46%
- 5Y*
- 14.75%
- 10Y*
- 20.63%
KSOAX
- 1D
- -5.64%
- 1M
- -8.67%
- YTD
- 29.65%
- 6M
- 22.56%
- 1Y
- 7.86%
- 3Y*
- 25.48%
- 5Y*
- 15.73%
- 10Y*
- 20.86%
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KMKAX vs. KSOAX - Expense Ratio Comparison
KMKAX has a 1.65% expense ratio, which is lower than KSOAX's 1.89% expense ratio.
Return for Risk
KMKAX vs. KSOAX — Risk / Return Rank
KMKAX
KSOAX
KMKAX vs. KSOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kinetics Market Opportunities Fund (KMKAX) and Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX). 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.
| KMKAX | KSOAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.30 | -0.03 |
Sortino ratioReturn per unit of downside risk | 0.55 | 0.61 | -0.07 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.08 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.25 | 0.27 | -0.02 |
Martin ratioReturn relative to average drawdown | 0.45 | 0.44 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KMKAX | KSOAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.30 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.57 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.81 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.56 | +0.01 |
Correlation
The correlation between KMKAX and KSOAX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
KMKAX vs. KSOAX - Dividend Comparison
KMKAX's dividend yield for the trailing twelve months is around 0.50%, while KSOAX has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMKAX Kinetics Market Opportunities Fund | 0.50% | 0.61% | 0.66% | 0.69% | 1.19% | 1.29% | 0.02% | 0.07% | 9.28% | 0.51% |
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A | 0.00% | 0.00% | 3.52% | 6.72% | 0.00% | 1.41% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
KMKAX vs. KSOAX - Drawdown Comparison
The maximum KMKAX drawdown since its inception was -65.57%, smaller than the maximum KSOAX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for KMKAX and KSOAX.
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Drawdown Indicators
| KMKAX | KSOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.57% | -70.21% | +4.64% |
Max Drawdown (1Y)Largest decline over 1 year | -19.64% | -24.40% | +4.76% |
Max Drawdown (5Y)Largest decline over 5 years | -31.56% | -33.28% | +1.72% |
Max Drawdown (10Y)Largest decline over 10 years | -31.56% | -47.11% | +15.55% |
Current DrawdownCurrent decline from peak | -11.68% | -11.30% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -15.53% | -15.88% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.64% | 14.90% | -4.26% |
Volatility
KMKAX vs. KSOAX - Volatility Comparison
The current volatility for Kinetics Market Opportunities Fund (KMKAX) is 7.14%, while Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) has a volatility of 7.94%. This indicates that KMKAX experiences smaller price fluctuations and is considered to be less risky than KSOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMKAX | KSOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 7.94% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 17.82% | 19.48% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 28.88% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.43% | 27.75% | -1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.39% | 25.84% | -2.45% |