OISGX vs. KSOAX

Last updated Jun 26, 2026

OISGX (Optimum Small-Mid Cap Growth Fund) and KSOAX (Kinetics Small Capital Opportunities Advisor Fund Class A) are both Small Cap Growth Equities funds. Over the past 10 years, OISGX returned 13.93%/yr vs 19.06%/yr for KSOAX. A 0.67 correlation means they provide meaningful diversification when combined. OISGX charges 1.29%/yr vs 1.89%/yr for KSOAX.

Performance

OISGX vs. KSOAX - Performance Comparison

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

Returns By Period

In the year-to-date period, OISGX achieves a 16.81% return, which is significantly higher than KSOAX's 15.27% return. Over the past 10 years, OISGX has underperformed KSOAX with an annualized return of 13.93%, while KSOAX has yielded a comparatively higher 19.06% annualized return.

OISGX

• 1D: 0.68%
• 1M: 2.90%
• YTD: 16.81%
• 6M: 14.25%
• 1Y: 33.52%
• 3Y*: 15.12%
• 5Y*: 4.07%
• 10Y*: 13.93%

KSOAX

• 1D: 0.67%
• 1M: -6.49%
• YTD: 15.27%
• 6M: 13.06%
• 1Y: 5.76%
• 3Y*: 25.86%
• 5Y*: 13.01%
• 10Y*: 19.06%

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

OISGX vs. KSOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OISGX Optimum Small-Mid Cap Growth Fund	16.81%	9.56%	14.23%	13.92%	-28.00%	12.89%	57.04%	25.72%	-3.00%	27.59%
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A	15.27%	-8.89%	68.00%	-14.98%	31.64%	49.94%	2.04%	26.72%	0.00%	25.94%

Correlation

The correlation between OISGX and KSOAX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jul 23, 2003	0.67

Over the past year, the correlation between OISGX and KSOAX has dropped to 0.37 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

OISGX vs. KSOAX — Risk / Return Rank

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

OISGX

OISGX Risk / Return Rank: 42
OISGX Sharpe Ratio Rank: 42
OISGX Sortino Ratio Rank: 41
OISGX Omega Ratio Rank: 38
OISGX Calmar Ratio Rank: 41
OISGX Martin Ratio Rank: 46

KSOAX

KSOAX Risk / Return Rank: 5
KSOAX Sharpe Ratio Rank: 5
KSOAX Sortino Ratio Rank: 5
KSOAX Omega Ratio Rank: 5
KSOAX Calmar Ratio Rank: 5
KSOAX Martin Ratio Rank: 5

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.

OISGX vs. KSOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optimum Small-Mid Cap Growth Fund (OISGX) and Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX). 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.

	OISGX	KSOAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	0.17	+1.38
Sortino ratio: Return per unit of downside risk	2.19	0.41	+1.78
Omega ratio: Gain probability vs. loss probability	1.27	1.05	+0.21
Calmar ratio: Return relative to maximum drawdown	2.10	0.20	+1.90
Martin ratio: Return relative to average drawdown	8.15	0.48	+7.68

OISGX vs. KSOAX - Sharpe Ratio Comparison

The current OISGX Sharpe Ratio is 1.54, which is higher than the KSOAX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of OISGX and KSOAX, 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

OISGX vs. KSOAX - Drawdown Comparison

The maximum OISGX drawdown since its inception was -62.75%, smaller than the maximum KSOAX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for OISGX and KSOAX.

Drawdown Indicators

	OISGX	KSOAX	Difference
Max Drawdown Largest peak-to-trough decline	-62.75%	-70.21%	+7.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-21.60%	+6.08%
Max Drawdown (3Y) Largest decline over 3 years	-29.82%	-33.28%	+3.46%
Max Drawdown (5Y) Largest decline over 5 years	-35.63%	-33.28%	-2.35%
Max Drawdown (10Y) Largest decline over 10 years	-39.22%	-47.11%	+7.89%
Current Drawdown Current decline from peak	-1.17%	-21.14%	+19.97%
Average Drawdown Average peak-to-trough decline	-12.23%	-15.88%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	9.27%	-5.28%

Volatility

OISGX vs. KSOAX - Volatility Comparison

The current volatility for Optimum Small-Mid Cap Growth Fund (OISGX) is 7.30%, while Kinetics Small Capital Opportunities Advisor Fund Class A (KSOAX) has a volatility of 8.24%. This indicates that OISGX experiences smaller price fluctuations and is considered to be less risky than KSOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OISGX	KSOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	8.24%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	16.51%	21.99%	-5.48%
Volatility (1Y) Calculated over the trailing 1-year period	21.18%	26.74%	-5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.30%	27.96%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.45%	26.20%	-2.75%

OISGX vs. KSOAX - Expense Ratio Comparison

OISGX has a 1.29% expense ratio, which is lower than KSOAX's 1.89% expense ratio.

Dividends

OISGX vs. KSOAX - Dividend Comparison

OISGX's dividend yield for the trailing twelve months is around 2.27%, while KSOAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KSOAX Kinetics Small Capital Opportunities Advisor Fund Class A	0.00%	0.00%	3.52%	6.72%	0.00%	1.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OISGX Optimum Small-Mid Cap Growth Fund	2.27%	2.65%	0.00%	0.00%	8.92%	32.79%	15.04%	9.33%	24.93%	4.21%	0.00%	15.87%

Frequently Asked Questions

Can I hold both OISGX and KSOAX in my portfolio?

OISGX and KSOAX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OISGX or KSOAX?

KSOAX has higher volatility (8.24%) compared to OISGX (7.30%). In terms of maximum drawdown, OISGX dropped -62.75% vs KSOAX's -70.21%.

Which has better risk-adjusted returns?

OISGX currently has the higher Sharpe Ratio (1.54 vs 0.17), 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.