KSCOX vs. ASMNX

Last updated Jun 4, 2026

KSCOX (Kinetics Small Cap Opportunities Fund) and ASMNX (AQR Small Cap Momentum Style Fund Class N) are both Small Cap Growth Equities funds. A 0.61 correlation means they provide meaningful diversification when combined. KSCOX charges 1.64%/yr vs 0.88%/yr for ASMNX.

Performance

KSCOX vs. ASMNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinetics Small Cap Opportunities Fund (KSCOX) and AQR Small Cap Momentum Style Fund Class N (ASMNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KSCOX

• 1D: 0.37%
• 1M: -7.02%
• YTD: 17.73%
• 6M: 13.43%
• 1Y: 4.10%
• 3Y*: 25.90%
• 5Y*: 14.50%
• 10Y*: 19.27%

ASMNX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KSCOX vs. ASMNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSCOX Kinetics Small Cap Opportunities Fund	17.73%	-8.66%	68.42%	-14.77%	31.96%	50.32%	2.30%	27.06%	0.29%	26.23%
ASMNX AQR Small Cap Momentum Style Fund Class N	17.21%	16.62%	16.62%	18.09%	-19.78%	15.05%	25.80%	25.69%	-12.36%	17.21%

Correlation

The correlation between KSCOX and ASMNX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.61

Over the past year, the correlation between KSCOX and ASMNX has dropped to 0.41 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Return for Risk

KSCOX vs. ASMNX — Risk / Return Rank

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

KSCOX

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

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.

KSCOX vs. ASMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics Small Cap Opportunities Fund (KSCOX) and AQR Small Cap Momentum Style Fund Class N (ASMNX). 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.

	KSCOX	ASMNX	Difference
Sharpe ratio: Return per unit of total volatility	0.20	—	—
Sortino ratio: Return per unit of downside risk	0.45	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.28	—	—
Martin ratio: Return relative to average drawdown	0.63	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KSCOX	ASMNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	—	—

Drawdowns

Drawdown Indicators

	KSCOX	ASMNX	Difference
Max Drawdown Largest peak-to-trough decline	-70.09%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-18.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.10%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.09%	—	—
Current Drawdown Current decline from peak	-19.24%	—	—
Average Drawdown Average peak-to-trough decline	-14.89%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	8.24%	—	—

Volatility

Volatility by Period

	KSCOX	ASMNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.88%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.83%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.13%	—	—

KSCOX vs. ASMNX - Expense Ratio Comparison

KSCOX has a 1.64% expense ratio, which is higher than ASMNX's 0.88% expense ratio.

Dividends

KSCOX vs. ASMNX - Dividend Comparison

KSCOX's dividend yield for the trailing twelve months is around 0.15%, less than ASMNX's 7.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASMNX AQR Small Cap Momentum Style Fund Class N	7.75%	8.05%	19.09%	3.54%	0.27%	24.51%	5.45%	3.83%	29.34%	9.61%	0.00%	0.97%
KSCOX Kinetics Small Cap Opportunities Fund	0.15%	0.18%	3.58%	6.71%	0.00%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KSCOX and ASMNX in my portfolio?

KSCOX and ASMNX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.