KMKAX vs. PRWAX
Compare and contrast key facts about Kinetics Market Opportunities Fund (KMKAX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX).
KMKAX is managed by Kinetics. It was launched on Jan 31, 2006. PRWAX is managed by T. Rowe Price. It was launched on Sep 30, 1985.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KMKAX or PRWAX.
Key characteristics
| KMKAX | PRWAX | |
|---|---|---|
| YTD Return | 104.91% | 27.89% |
| 1Y Return | 107.45% | 28.98% |
| 3Y Return (Ann) | 24.73% | -0.92% |
| 5Y Return (Ann) | 27.94% | 7.94% |
| 10Y Return (Ann) | 17.44% | 5.49% |
| Sharpe Ratio | 4.31 | 2.23 |
| Sortino Ratio | 5.49 | 2.89 |
| Omega Ratio | 1.75 | 1.43 |
| Calmar Ratio | 5.34 | 1.15 |
| Martin Ratio | 36.87 | 12.58 |
| Ulcer Index | 2.96% | 2.43% |
| Daily Std Dev | 25.32% | 13.69% |
| Max Drawdown | -66.35% | -70.45% |
| Current Drawdown | -1.75% | -4.21% |
Correlation
The correlation between KMKAX and PRWAX is 0.62, 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.
Performance
KMKAX vs. PRWAX - Performance Comparison
In the year-to-date period, KMKAX achieves a 104.91% return, which is significantly higher than PRWAX's 27.89% return. Over the past 10 years, KMKAX has outperformed PRWAX with an annualized return of 17.44%, while PRWAX has yielded a comparatively lower 5.49% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KMKAX vs. PRWAX - Expense Ratio Comparison
KMKAX has a 1.65% expense ratio, which is higher than PRWAX's 0.76% expense ratio.
Risk-Adjusted Performance
KMKAX vs. PRWAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Kinetics Market Opportunities Fund (KMKAX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.
Dividends
KMKAX vs. PRWAX - Dividend Comparison
KMKAX's dividend yield for the trailing twelve months is around 0.34%, more than PRWAX's 0.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KMKAX Kinetics Market Opportunities Fund | 0.34% | 0.69% | 0.00% | 1.19% | 0.02% | 0.07% | 0.00% | 0.51% | 0.00% | 0.00% | 0.00% | 0.37% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 0.16% | 0.20% | 0.00% | 0.00% | 0.03% | 0.40% | 0.23% | 0.17% | 0.05% | 0.00% | 0.00% | 0.00% |
Drawdowns
KMKAX vs. PRWAX - Drawdown Comparison
The maximum KMKAX drawdown since its inception was -66.35%, smaller than the maximum PRWAX drawdown of -70.45%. Use the drawdown chart below to compare losses from any high point for KMKAX and PRWAX. For additional features, visit the drawdowns tool.
Volatility
KMKAX vs. PRWAX - Volatility Comparison
Kinetics Market Opportunities Fund (KMKAX) has a higher volatility of 7.02% compared to T. Rowe Price All-Cap Opportunities Fund (PRWAX) at 3.51%. This indicates that KMKAX's price experiences larger fluctuations and is considered to be riskier than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.