KSOAX vs. UMBHX

Last updated Jun 3, 2026

KSOAX (Kinetics Small Capital Opportunities Advisor Fund Class A) and UMBHX (Carillon Scout Small Cap Fund) are both Small Cap Growth Equities funds. With a 1.00 correlation, they move nearly in lockstep. KSOAX charges 1.89%/yr vs 0.90%/yr for UMBHX.

Performance

KSOAX vs. UMBHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) and Carillon Scout Small Cap Fund (UMBHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KSOAX

• 1D: -3.20%
• 1M: -7.60%
• YTD: 17.17%
• 6M: 16.45%
• 1Y: 4.52%
• 3Y*: 25.43%
• 5Y*: 13.96%
• 10Y*: 18.92%

UMBHX

• 1D: -1.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KSOAX vs. UMBHX - Yearly Performance Comparison

	2026 (YTD)
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A	-5.00%
UMBHX Carillon Scout Small Cap Fund	-1.86%

Correlation

The correlation between KSOAX and UMBHX is 1.00 - 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 (All Time) Calculated using the full available price history since May 29, 2026	1.00

Return for Risk

KSOAX vs. UMBHX — Risk / Return Rank

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

KSOAX

KSOAX Risk / Return Rank: 3
KSOAX Sharpe Ratio Rank: 3
KSOAX Sortino Ratio Rank: 4
KSOAX Omega Ratio Rank: 4
KSOAX Calmar Ratio Rank: 3
KSOAX Martin Ratio Rank: 3

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.

KSOAX vs. UMBHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) and Carillon Scout Small Cap Fund (UMBHX). 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.

	KSOAX	UMBHX	Difference
Sharpe ratio Return per unit of total volatility	0.17	—	—
Sortino ratio Return per unit of downside risk	0.41	—	—
Omega ratio Gain probability vs. loss probability	1.05	—	—
Calmar ratio Return relative to maximum drawdown	0.03	—	—
Martin ratio Return relative to average drawdown	0.06	—	—
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

	KSOAX	UMBHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	-20.59	+21.11

Drawdowns

KSOAX vs. UMBHX - Drawdown Comparison

The maximum KSOAX drawdown since its inception was -70.21%, which is greater than UMBHX's maximum drawdown of -1.86%. Use the drawdown chart below to compare losses from any high point for KSOAX and UMBHX.

Drawdown Indicators

	KSOAX	UMBHX	Difference
Max Drawdown Largest peak-to-trough decline	-70.21%	-1.86%	-68.35%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.11%	—	—
Current Drawdown Current decline from peak	-19.84%	-1.86%	-17.98%
Average Drawdown Average peak-to-trough decline	-15.88%	-1.26%	-14.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.21%	—	—

Volatility

Volatility by Period

	KSOAX	UMBHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.93%	6.22%	+19.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.84%	6.22%	+21.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.13%	6.22%	+19.91%

KSOAX vs. UMBHX - Expense Ratio Comparison

KSOAX has a 1.89% expense ratio, which is higher than UMBHX's 0.90% expense ratio.

Dividends

KSOAX vs. UMBHX - Dividend Comparison

Neither KSOAX nor UMBHX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A	0.00%	0.00%	3.52%	6.72%	0.00%	1.41%
UMBHX Carillon Scout Small Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KSOAX and UMBHX in my portfolio?

With a correlation of 1.00, KSOAX and UMBHX 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.