LKSCX vs. LKSMX
LKSCX (LKCM Small Cap Equity Fund) and LKSMX (LKCM Small-Mid Cap Equity Fund) are both mutual funds - LKSCX is a Small Cap Growth Equities fund managed by LKCM, while LKSMX is a Mid Cap Growth Equities fund managed by LKCM. Over the past 10 years, LKSCX returned 11.23%/yr vs 10.86%/yr for LKSMX. Their 0.96 correlation means they have historically moved very closely together. LKSCX charges 1.03%/yr vs 1.00%/yr for LKSMX.
Performance
LKSCX vs. LKSMX - Performance Comparison
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Returns By Period
In the year-to-date period, LKSCX achieves a 6.49% return, which is significantly higher than LKSMX's 4.23% return. Both investments have delivered pretty close results over the past 10 years, with LKSCX having a 11.23% annualized return and LKSMX not far behind at 10.86%.
LKSCX
- 1D
- 0.73%
- 1M
- -2.27%
- 6M
- 3.65%
- YTD
- 6.49%
- 1Y
- 17.88%
- 3Y*
- 13.16%
- 5Y*
- 6.08%
- 10Y*
- 11.23%
- ALL TIME*
- 10.20%
LKSMX
- 1D
- 1.20%
- 1M
- -3.03%
- 6M
- 1.20%
- YTD
- 4.23%
- 1Y
- 9.44%
- 3Y*
- 10.94%
- 5Y*
- 5.04%
- 10Y*
- 10.86%
- ALL TIME*
- 8.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LKSCX vs. LKSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKSCX LKCM Small Cap Equity Fund | 6.49% | 13.22% | 15.35% | 22.57% | -22.14% | 14.54% | 34.70% | 22.68% | -5.67% | 17.08% |
LKSMX LKCM Small-Mid Cap Equity Fund | 4.23% | 5.27% | 15.64% | 25.76% | -22.23% | 15.44% | 30.55% | 31.02% | -8.91% | 24.18% |
Correlation
The correlation between LKSCX and LKSMX is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 2, 2011 | 0.96 |
The correlation between LKSCX and LKSMX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
LKSCX vs. LKSMX — Risk / Return Rank
LKSCX
LKSMX
LKSCX vs. LKSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LKCM Small Cap Equity Fund (LKSCX) and LKCM Small-Mid Cap Equity Fund (LKSMX). 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.
| LKSCX | LKSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.08 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 0.50 | +1.11 |
| Martin ratioReturn relative to average drawdown | 5.55 | 1.56 | +3.99 |
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Drawdowns
LKSCX vs. LKSMX - Drawdown Comparison
The maximum LKSCX drawdown since its inception was -59.07%, which is greater than LKSMX's maximum drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for LKSCX and LKSMX.
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Drawdown Indicators
| LKSCX | LKSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.07% | -39.56% | -19.51% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -13.08% | +3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -24.21% | -21.23% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -33.84% | -27.51% | -6.33% |
Max Drawdown (10Y)Largest decline over 10 years | -43.65% | -39.56% | -4.09% |
Current DrawdownCurrent decline from peak | -3.76% | -3.74% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -9.36% | -7.67% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 4.16% | -1.30% |
Volatility
LKSCX vs. LKSMX - Volatility Comparison
LKCM Small Cap Equity Fund (LKSCX) and LKCM Small-Mid Cap Equity Fund (LKSMX) have volatilities of 3.87% and 3.91%, 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.
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Volatility by Period
| LKSCX | LKSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 3.91% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 12.09% | 13.41% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.92% | 17.41% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.37% | 19.81% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.05% | 21.34% | +1.71% |
LKSCX vs. LKSMX - Expense Ratio Comparison
LKSCX has a 1.03% expense ratio, which is higher than LKSMX's 1.00% expense ratio.
Dividends
LKSCX vs. LKSMX - Dividend Comparison
LKSCX's dividend yield for the trailing twelve months is around 8.43%, more than LKSMX's 6.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKSCX LKCM Small Cap Equity Fund | 8.43% | 8.98% | 7.27% | 2.77% | 2.43% | 15.70% | 3.86% | 5.24% | 20.61% | 19.58% | 15.37% | 14.66% |
LKSMX LKCM Small-Mid Cap Equity Fund | 6.12% | 6.38% | 0.00% | 0.00% | 8.27% | 17.23% | 6.48% | 14.23% | 21.66% | 12.01% | 18.07% | 7.12% |
Frequently Asked Questions
With a correlation of 0.92, LKSCX and LKSMX 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.
LKSMX has higher volatility (3.91%) compared to LKSCX (3.87%). In terms of maximum drawdown, LKSCX dropped -59.07% vs LKSMX's -39.56%.
LKSCX currently has the higher Sharpe Ratio (0.94 vs 0.37), 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.
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