KMKNX vs. XMMO
Compare and contrast key facts about Kinetics Market Opportunities Fund No Load Class (KMKNX) and Invesco S&P MidCap Momentum ETF (XMMO).
KMKNX is an actively managed fund by Kinetics. It was launched on Jan 31, 2006. XMMO is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Mar 3, 2005.
Performance
KMKNX vs. XMMO - Performance Comparison
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KMKNX vs. XMMO - 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% |
XMMO Invesco S&P MidCap Momentum ETF | 6.86% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Returns By Period
In the year-to-date period, KMKNX achieves a 22.52% return, which is significantly higher than XMMO's 6.86% return. Over the past 10 years, KMKNX has outperformed XMMO with an annualized return of 21.10%, while XMMO has yielded a comparatively lower 18.41% annualized return.
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%
XMMO
- 1D
- 1.85%
- 1M
- -2.62%
- YTD
- 6.86%
- 6M
- 9.51%
- 1Y
- 29.37%
- 3Y*
- 25.85%
- 5Y*
- 12.62%
- 10Y*
- 18.41%
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KMKNX vs. XMMO - Expense Ratio Comparison
KMKNX has a 1.40% expense ratio, which is higher than XMMO's 0.33% expense ratio.
Return for Risk
KMKNX vs. XMMO — Risk / Return Rank
KMKNX
XMMO
KMKNX vs. XMMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kinetics Market Opportunities Fund No Load Class (KMKNX) and Invesco S&P MidCap Momentum ETF (XMMO). 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 | XMMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 1.34 | -1.02 |
Sortino ratioReturn per unit of downside risk | 0.62 | 1.91 | -1.29 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.27 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 0.43 | 2.41 | -1.98 |
Martin ratioReturn relative to average drawdown | 0.79 | 11.42 | -10.63 |
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 | XMMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 1.34 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.60 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.83 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.55 | +0.03 |
Correlation
The correlation between KMKNX and XMMO 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.
Dividends
KMKNX vs. XMMO - Dividend Comparison
KMKNX's dividend yield for the trailing twelve months is around 0.54%, less than XMMO's 0.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
XMMO Invesco S&P MidCap Momentum ETF | 0.70% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Drawdowns
KMKNX vs. XMMO - Drawdown Comparison
The maximum KMKNX drawdown since its inception was -65.47%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for KMKNX and XMMO.
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Drawdown Indicators
| KMKNX | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.47% | -55.37% | -10.10% |
Max Drawdown (1Y)Largest decline over 1 year | -19.52% | -12.81% | -6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -31.47% | -27.91% | -3.56% |
Max Drawdown (10Y)Largest decline over 10 years | -31.47% | -36.74% | +5.27% |
Current DrawdownCurrent decline from peak | -10.15% | -2.62% | -7.53% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -9.52% | -5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.58% | 2.70% | +7.88% |
Volatility
KMKNX vs. XMMO - Volatility Comparison
The current volatility for Kinetics Market Opportunities Fund No Load Class (KMKNX) is 7.07%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 9.04%. This indicates that KMKNX experiences smaller price fluctuations and is considered to be less risky than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMKNX | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 9.04% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 17.87% | 14.39% | +3.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 22.03% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.44% | 21.27% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.39% | 22.11% | +1.28% |