KMKNX vs. KMKAX
Compare and contrast key facts about Kinetics Market Opportunities Fund No Load Class (KMKNX) and Kinetics Market Opportunities Fund (KMKAX).
KMKNX is an actively managed fund by Kinetics. It was launched on Jan 31, 2006. KMKAX is managed by Kinetics. It was launched on Jan 31, 2006.
Performance
KMKNX vs. KMKAX - Performance Comparison
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KMKNX vs. KMKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMKNX Kinetics Market Opportunities Fund No Load Class | 22.52% | -3.09% | 84.05% | -7.34% | 14.98% | 28.03% | 19.56% | 22.76% | -10.68% | 47.26% |
KMKAX Kinetics Market Opportunities Fund | 22.43% | -3.31% | 83.58% | -7.57% | 14.69% | 27.69% | 19.31% | 22.42% | -10.92% | 46.89% |
Returns By Period
The year-to-date returns for both stocks are quite close, with KMKNX having a 22.52% return and KMKAX slightly lower at 22.43%. Both investments have delivered pretty close results over the past 10 years, with KMKNX having a 21.10% annualized return and KMKAX not far behind at 20.79%.
KMKNX
- 1D
- 1.41%
- 1M
- -7.64%
- YTD
- 22.52%
- 6M
- 11.44%
- 1Y
- 6.51%
- 3Y*
- 32.40%
- 5Y*
- 15.19%
- 10Y*
- 21.10%
KMKAX
- 1D
- 1.40%
- 1M
- -7.66%
- YTD
- 22.43%
- 6M
- 11.30%
- 1Y
- 6.24%
- 3Y*
- 32.07%
- 5Y*
- 14.91%
- 10Y*
- 20.79%
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KMKNX vs. KMKAX - Expense Ratio Comparison
KMKNX has a 1.40% expense ratio, which is lower than KMKAX's 1.65% expense ratio.
Return for Risk
KMKNX vs. KMKAX — Risk / Return Rank
KMKNX
KMKAX
KMKNX vs. KMKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kinetics Market Opportunities Fund No Load Class (KMKNX) and Kinetics Market Opportunities Fund (KMKAX). 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 | KMKAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 0.31 | +0.01 |
Sortino ratioReturn per unit of downside risk | 0.62 | 0.60 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.08 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.43 | 0.41 | +0.02 |
Martin ratioReturn relative to average drawdown | 0.79 | 0.76 | +0.03 |
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
| KMKNX | KMKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.31 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.57 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.89 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.56 | +0.01 |
Correlation
The correlation between KMKNX and KMKAX is 1.00, 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
KMKNX vs. KMKAX - Dividend Comparison
KMKNX's dividend yield for the trailing twelve months is around 0.54%, more than KMKAX's 0.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMKNX Kinetics Market Opportunities Fund No Load Class | 0.54% | 0.66% | 0.81% | 0.87% | 1.36% | 1.56% | 0.26% | 0.33% | 9.13% | 0.64% |
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% |
Drawdowns
KMKNX vs. KMKAX - Drawdown Comparison
The maximum KMKNX drawdown since its inception was -65.47%, roughly equal to the maximum KMKAX drawdown of -65.57%. Use the drawdown chart below to compare losses from any high point for KMKNX and KMKAX.
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Drawdown Indicators
| KMKNX | KMKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.47% | -65.57% | +0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -19.52% | -19.64% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -31.47% | -31.56% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -31.47% | -31.56% | +0.09% |
Current DrawdownCurrent decline from peak | -10.15% | -10.45% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -15.53% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.58% | 10.65% | -0.07% |
Volatility
KMKNX vs. KMKAX - Volatility Comparison
Kinetics Market Opportunities Fund No Load Class (KMKNX) and Kinetics Market Opportunities Fund (KMKAX) have volatilities of 7.07% and 7.05%, 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.
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Volatility by Period
| KMKNX | KMKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 7.05% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 17.87% | 17.86% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 24.60% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.44% | 26.44% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.39% | 23.39% | 0.00% |