KSMIX vs. KMDIX

Last updated Aug 1, 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 10.81%/yr vs 10.15%/yr for KMDIX. Their 0.96 correlation means they have historically moved very closely together. 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 17.84% return, which is significantly higher than KMDIX's 15.03% return. Over the past 10 years, KSMIX has outperformed KMDIX with an annualized return of 10.81%, while KMDIX has yielded a comparatively lower 10.15% annualized return.

KSMIX

• 1D: 0.00%
• 1M: 1.33%
• 6M: 12.28%
• YTD: 17.84%
• 1Y: 24.27%
• 3Y*: 16.07%
• 5Y*: 9.88%
• 10Y*: 10.81%
• ALL TIME*: 9.06%

KMDIX

• 1D: 0.26%
• 1M: 0.06%
• 6M: 10.13%
• YTD: 15.03%
• 1Y: 19.64%
• 3Y*: 14.51%
• 5Y*: 10.38%
• 10Y*: 10.15%
• ALL TIME*: 12.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KMDIX Keeley Mid Cap Dividend Value Fund	$0.00	$0.00	$0.00
KSMIX Keeley Small-Mid Cap Value Fund	$0.00	$0.00	$0.00

KSMIX vs. KMDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSMIX Keeley Small-Mid Cap Value Fund	17.84%	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	15.03%	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, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Oct 4, 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 historical risk-adjusted metric ranks over the past 12 months.

KSMIX

KSMIX Risk / Return Rank: 65
KSMIX Sharpe Ratio Rank: 62
KSMIX Sortino Ratio Rank: 65
KSMIX Omega Ratio Rank: 56
KSMIX Calmar Ratio Rank: 72
KSMIX Martin Ratio Rank: 70

KMDIX

KMDIX Risk / Return Rank: 40
KMDIX Sharpe Ratio Rank: 39
KMDIX Sortino Ratio Rank: 43
KMDIX Omega Ratio Rank: 38
KMDIX Calmar Ratio Rank: 39
KMDIX Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KSMIX	KMDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.23	+0.30
Sortino ratio: Return per unit of downside risk	2.29	1.87	+0.42
Omega ratio: Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio: Return relative to maximum drawdown	2.38	1.69	+0.69
Martin ratio: Return relative to average drawdown	8.81	6.07	+2.74

KSMIX vs. KMDIX - Sharpe Ratio Comparison

The current KSMIX Sharpe Ratio is 1.53, which is comparable to the KMDIX Sharpe Ratio of 1.23. 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.

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	-1.47%	-6.35%	+4.88%
Average Drawdown Average peak-to-trough decline	-10.96%	-25.95%	+14.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.93%	-0.37%

Volatility

KSMIX vs. KMDIX - Volatility Comparison

Keeley Small-Mid Cap Value Fund (KSMIX) has a higher volatility of 3.76% compared to Keeley Mid Cap Dividend Value Fund (KMDIX) at 3.38%. This indicates that KSMIX's price experiences larger fluctuations and is considered to be riskier than KMDIX based on this measure. 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	3.76%	3.38%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	11.09%	10.87%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	14.55%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	18.34%	+3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.97%	52.52%	-28.55%

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 8.60%, more than KMDIX's 4.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KMDIX Keeley Mid Cap Dividend Value Fund	4.82%	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	8.60%	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?

KSMIX has higher volatility (3.76%) compared to KMDIX (3.38%). 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 (1.53 vs 1.23), 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.