KSMIX vs. KMDIX

Last updated Jun 3, 2026

KSMIX (Keeley Small-Mid Cap Value Fund) and KMDIX (Keeley Mid Cap Dividend Value Fund) are both Mid Cap Value Equities funds from Keeley. Over the past 10 years, KSMIX returned 10.51%/yr vs 9.83%/yr for KMDIX. With a 0.96 correlation, they move nearly in lockstep. KSMIX charges 1.18%/yr vs 0.95%/yr for KMDIX.

Performance

KSMIX vs. KMDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keeley Small-Mid Cap Value Fund (KSMIX) and Keeley Mid Cap Dividend Value Fund (KMDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KSMIX achieves a 12.22% return, which is significantly higher than KMDIX's 9.67% return. Over the past 10 years, KSMIX has outperformed KMDIX with an annualized return of 10.51%, while KMDIX has yielded a comparatively lower 9.83% annualized return.

KSMIX

• 1D: -0.78%
• 1M: -2.02%
• YTD: 12.22%
• 6M: 11.96%
• 1Y: 25.50%
• 3Y*: 17.33%
• 5Y*: 7.92%
• 10Y*: 10.51%

KMDIX

• 1D: -0.63%
• 1M: -1.28%
• YTD: 9.67%
• 6M: 9.16%
• 1Y: 17.80%
• 3Y*: 15.58%
• 5Y*: 8.34%
• 10Y*: 9.83%

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

KSMIX vs. KMDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSMIX Keeley Small-Mid Cap Value Fund	12.22%	9.86%	14.18%	19.43%	-12.85%	26.28%	0.79%	31.89%	-17.49%	18.26%
KMDIX Keeley Mid Cap Dividend Value Fund	9.67%	9.35%	14.71%	12.72%	-5.27%	24.84%	-1.56%	25.93%	-12.60%	15.98%

Correlation

The correlation between KSMIX and KMDIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011	0.96

The correlation between KSMIX and KMDIX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

KSMIX vs. KMDIX — Risk / Return Rank

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

KSMIX

KSMIX Risk / Return Rank: 36
KSMIX Sharpe Ratio Rank: 30
KSMIX Sortino Ratio Rank: 31
KSMIX Omega Ratio Rank: 28
KSMIX Calmar Ratio Rank: 46
KSMIX Martin Ratio Rank: 46

KMDIX

KMDIX Risk / Return Rank: 18
KMDIX Sharpe Ratio Rank: 16
KMDIX Sortino Ratio Rank: 17
KMDIX Omega Ratio Rank: 16
KMDIX Calmar Ratio Rank: 19
KMDIX Martin Ratio Rank: 22

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.

KSMIX vs. KMDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keeley Small-Mid Cap Value Fund (KSMIX) and Keeley Mid Cap Dividend Value Fund (KMDIX). 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.

	KSMIX	KMDIX	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.15	+0.45
Sortino ratio Return per unit of downside risk	2.35	1.74	+0.61
Omega ratio Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	2.60	1.63	+0.97
Martin ratio Return relative to average drawdown	9.64	5.85	+3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSMIX vs. KMDIX - Sharpe Ratio Comparison

The current KSMIX Sharpe Ratio is 1.59, which is higher than the KMDIX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of KSMIX and KMDIX, 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

	KSMIX	KMDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.15	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.45	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.19	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.27	+0.06

Drawdowns

KSMIX vs. KMDIX - Drawdown Comparison

The maximum KSMIX drawdown since its inception was -67.52%, smaller than the maximum KMDIX drawdown of -73.51%. Use the drawdown chart below to compare losses from any high point for KSMIX and KMDIX.

Drawdown Indicators

	KSMIX	KMDIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.52%	-73.51%	+5.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-10.56%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-29.45%	-21.22%	-8.23%
Max Drawdown (5Y) Largest decline over 5 years	-29.45%	-21.22%	-8.23%
Max Drawdown (10Y) Largest decline over 10 years	-52.10%	-73.51%	+21.41%
Current Drawdown Current decline from peak	-2.49%	-10.72%	+8.23%
Average Drawdown Average peak-to-trough decline	-11.05%	-26.17%	+15.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.94%	-0.38%

Volatility

KSMIX vs. KMDIX - Volatility Comparison

Keeley Small-Mid Cap Value Fund (KSMIX) and Keeley Mid Cap Dividend Value Fund (KMDIX) have volatilities of 4.11% and 4.18%, 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

	KSMIX	KMDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.18%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	10.90%	10.88%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	15.40%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.72%	18.47%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.04%	52.56%	-28.52%

KSMIX vs. KMDIX - Expense Ratio Comparison

KSMIX has a 1.18% expense ratio, which is higher than KMDIX's 0.95% expense ratio.

Dividends

KSMIX vs. KMDIX - Dividend Comparison

KSMIX's dividend yield for the trailing twelve months is around 9.03%, more than KMDIX's 5.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KMDIX Keeley Mid Cap Dividend Value Fund	5.04%	6.03%	7.73%	5.40%	4.38%	1.14%	1.48%	2.42%	4.72%	0.82%	1.00%	5.46%
KSMIX Keeley Small-Mid Cap Value Fund	9.03%	10.14%	14.14%	9.24%	15.42%	28.48%	5.46%	18.92%	14.34%	11.18%	8.70%	4.14%

Frequently Asked Questions

Can I hold both KSMIX and KMDIX in my portfolio?

With a correlation of 0.95, KSMIX and KMDIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, KSMIX or KMDIX?

KMDIX has higher volatility (4.18%) compared to KSMIX (4.11%). In terms of maximum drawdown, KSMIX dropped -67.52% vs KMDIX's -73.51%.

Which has better risk-adjusted returns?

KSMIX currently has the higher Sharpe Ratio (1.59 vs 1.15), 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.