KMKNX vs. FISGX

Last updated Jun 5, 2026

KMKNX (Kinetics Market Opportunities Fund No Load Class) and FISGX (Nuveen Mid Cap Growth Opportunities Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, KMKNX returned 19.85%/yr vs 13.57%/yr for FISGX. A 0.62 correlation means they provide meaningful diversification when combined. KMKNX charges 1.40%/yr vs 0.92%/yr for FISGX.

Performance

KMKNX vs. FISGX - Performance Comparison

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

Returns By Period

In the year-to-date period, KMKNX achieves a 14.60% return, which is significantly lower than FISGX's 15.35% return. Over the past 10 years, KMKNX has outperformed FISGX with an annualized return of 19.85%, while FISGX has yielded a comparatively lower 13.57% annualized return.

KMKNX

• 1D: 3.45%
• 1M: -6.02%
• YTD: 14.60%
• 6M: 10.65%
• 1Y: 3.84%
• 3Y*: 34.33%
• 5Y*: 15.91%
• 10Y*: 19.85%

FISGX

• 1D: -0.51%
• 1M: 2.46%
• YTD: 15.35%
• 6M: 13.36%
• 1Y: 27.88%
• 3Y*: 15.45%
• 5Y*: 4.40%
• 10Y*: 13.57%

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

KMKNX vs. FISGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KMKNX Kinetics Market Opportunities Fund No Load Class	14.60%	-3.09%	84.05%	-7.34%	14.98%	28.03%	19.56%	22.76%	-10.68%	47.26%
FISGX Nuveen Mid Cap Growth Opportunities Fund	15.35%	7.83%	13.65%	20.26%	-30.11%	5.01%	46.58%	66.58%	-9.33%	24.98%

Correlation

The correlation between KMKNX and FISGX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 3, 2006	0.62

The correlation between KMKNX and FISGX shifts across timeframes, from 0.42 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KMKNX vs. FISGX — Risk / Return Rank

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

KMKNX

KMKNX Risk / Return Rank: 3
KMKNX Sharpe Ratio Rank: 3
KMKNX Sortino Ratio Rank: 4
KMKNX Omega Ratio Rank: 4
KMKNX Calmar Ratio Rank: 4
KMKNX Martin Ratio Rank: 3

FISGX

FISGX Risk / Return Rank: 33
FISGX Sharpe Ratio Rank: 28
FISGX Sortino Ratio Rank: 27
FISGX Omega Ratio Rank: 25
FISGX Calmar Ratio Rank: 43
FISGX Martin Ratio Rank: 45

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.

KMKNX vs. FISGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics Market Opportunities Fund No Load Class (KMKNX) and Nuveen Mid Cap Growth Opportunities Fund (FISGX). 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.

	KMKNX	FISGX	Difference
Sharpe ratio: Return per unit of total volatility	0.11	1.47	-1.36
Sortino ratio: Return per unit of downside risk	0.32	2.13	-1.81
Omega ratio: Gain probability vs. loss probability	1.04	1.25	-0.21
Calmar ratio: Return relative to maximum drawdown	0.16	2.44	-2.28
Martin ratio: Return relative to average drawdown	0.38	9.23	-8.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KMKNX vs. FISGX - Sharpe Ratio Comparison

The current KMKNX Sharpe Ratio is 0.11, which is lower than the FISGX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of KMKNX and FISGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KMKNX	FISGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	1.47	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.19	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.57	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.51	+0.04

Drawdowns

KMKNX vs. FISGX - Drawdown Comparison

The maximum KMKNX drawdown since its inception was -65.47%, which is greater than FISGX's maximum drawdown of -57.51%. Use the drawdown chart below to compare losses from any high point for KMKNX and FISGX.

Drawdown Indicators

	KMKNX	FISGX	Difference
Max Drawdown Largest peak-to-trough decline	-65.47%	-57.51%	-7.96%
Max Drawdown (1Y) Largest decline over 1 year	-16.99%	-11.60%	-5.39%
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	-28.16%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-31.47%	-43.30%	+11.83%
Max Drawdown (10Y) Largest decline over 10 years	-31.47%	-43.30%	+11.83%
Current Drawdown Current decline from peak	-15.96%	-0.51%	-15.45%
Average Drawdown Average peak-to-trough decline	-15.28%	-9.86%	-5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.94%	3.05%	+3.89%

Volatility

KMKNX vs. FISGX - Volatility Comparison

Kinetics Market Opportunities Fund No Load Class (KMKNX) and Nuveen Mid Cap Growth Opportunities Fund (FISGX) have volatilities of 6.46% and 6.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMKNX	FISGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	6.50%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	19.52%	15.04%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	23.37%	19.27%	+4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.43%	23.45%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	24.00%	-0.35%

KMKNX vs. FISGX - Expense Ratio Comparison

KMKNX has a 1.40% expense ratio, which is higher than FISGX's 0.92% expense ratio.

Dividends

KMKNX vs. FISGX - Dividend Comparison

KMKNX's dividend yield for the trailing twelve months is around 0.58%, less than FISGX's 7.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FISGX Nuveen Mid Cap Growth Opportunities Fund	7.24%	8.35%	0.00%	0.00%	0.00%	23.94%	9.97%	38.61%	19.12%	17.17%	4.01%	7.82%
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 KMKNX and FISGX in my portfolio?

KMKNX and FISGX 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, KMKNX or FISGX?

FISGX has higher volatility (6.50%) compared to KMKNX (6.46%). In terms of maximum drawdown, KMKNX dropped -65.47% vs FISGX's -57.51%.

Which has better risk-adjusted returns?

FISGX currently has the higher Sharpe Ratio (1.47 vs 0.11), 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.