NEXTX vs. KMKAX
NEXTX (Shelton Green Alpha Fund) and KMKAX (Kinetics Market Opportunities Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, NEXTX returned 11.96%/yr vs 18.98%/yr for KMKAX. A 0.50 correlation means they provide meaningful diversification when combined. NEXTX charges 1.16%/yr vs 1.65%/yr for KMKAX.
Performance
NEXTX vs. KMKAX - Performance Comparison
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Returns By Period
In the year-to-date period, NEXTX achieves a 10.00% return, which is significantly higher than KMKAX's 7.33% return. Over the past 10 years, NEXTX has underperformed KMKAX with an annualized return of 11.96%, while KMKAX has yielded a comparatively higher 18.98% annualized return.
NEXTX
- 1D
- 0.32%
- 1M
- -2.60%
- YTD
- 10.00%
- 6M
- 7.84%
- 1Y
- 14.29%
- 3Y*
- 5.35%
- 5Y*
- -2.80%
- 10Y*
- 11.96%
KMKAX
- 1D
- 0.13%
- 1M
- -8.54%
- YTD
- 7.33%
- 6M
- 5.74%
- 1Y
- -0.99%
- 3Y*
- 31.56%
- 5Y*
- 13.91%
- 10Y*
- 18.98%
NEXTX vs. KMKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEXTX Shelton Green Alpha Fund | 10.00% | 11.33% | -2.54% | 2.11% | -26.80% | 2.59% | 113.89% | 43.72% | -18.90% | 29.53% |
KMKAX Kinetics Market Opportunities Fund | 7.33% | -3.31% | 83.58% | -7.57% | 14.69% | 27.69% | 19.31% | 22.42% | -10.92% | 46.89% |
Correlation
The correlation between NEXTX and KMKAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2013 | 0.50 |
The correlation between NEXTX and KMKAX has been stable across timeframes, ranging from 0.45 to 0.50 - a consistent structural relationship.
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Return for Risk
NEXTX vs. KMKAX — Risk / Return Rank
NEXTX
KMKAX
NEXTX vs. KMKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shelton Green Alpha Fund (NEXTX) and Kinetics Market Opportunities Fund (KMKAX). 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.
| NEXTX | KMKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.01 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | -0.09 | +1.31 |
| Martin ratioReturn relative to average drawdown | 3.63 | -0.21 | +3.84 |
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Drawdowns
NEXTX vs. KMKAX - Drawdown Comparison
The maximum NEXTX drawdown since its inception was -47.15%, smaller than the maximum KMKAX drawdown of -65.57%. Use the drawdown chart below to compare losses from any high point for NEXTX and KMKAX.
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Drawdown Indicators
| NEXTX | KMKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.15% | -65.57% | +18.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.93% | -20.20% | +9.27% |
Max Drawdown (3Y)Largest decline over 3 years | -25.86% | -28.45% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -47.15% | -31.56% | -15.59% |
Max Drawdown (10Y)Largest decline over 10 years | -47.15% | -31.56% | -15.59% |
Current DrawdownCurrent decline from peak | -22.33% | -21.49% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -15.40% | -15.52% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 8.08% | -4.41% |
Volatility
NEXTX vs. KMKAX - Volatility Comparison
The current volatility for Shelton Green Alpha Fund (NEXTX) is 5.89%, while Kinetics Market Opportunities Fund (KMKAX) has a volatility of 7.06%. This indicates that NEXTX experiences smaller price fluctuations and is considered to be less risky than KMKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEXTX | KMKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.89% | 7.06% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 19.59% | -7.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.68% | 23.79% | -7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 26.50% | -2.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.70% | 23.69% | +1.01% |
NEXTX vs. KMKAX - Expense Ratio Comparison
NEXTX has a 1.16% expense ratio, which is lower than KMKAX's 1.65% expense ratio.
Dividends
NEXTX vs. KMKAX - Dividend Comparison
NEXTX's dividend yield for the trailing twelve months is around 0.18%, less than KMKAX's 0.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KMKAX Kinetics Market Opportunities Fund | 0.57% | 0.61% | 0.66% | 0.69% | 1.19% | 1.29% | 0.02% | 0.07% | 9.28% | 0.51% |
NEXTX Shelton Green Alpha Fund | 0.18% | 0.20% | 0.20% | 0.20% | 0.35% | 4.65% | 1.05% | 0.21% | 1.59% | 2.88% |
Frequently Asked Questions
NEXTX and KMKAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMKAX has higher volatility (7.06%) compared to NEXTX (5.89%). In terms of maximum drawdown, NEXTX dropped -47.15% vs KMKAX's -65.57%.
NEXTX currently has the higher Sharpe Ratio (0.80 vs -0.07), 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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