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QQQM vs. KSCOX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQM vs. KSCOX

Last updated Jun 14, 2026

QQQM (Invesco NASDAQ 100 ETF) and KSCOX (Kinetics Small Cap Opportunities Fund) are both funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while KSCOX is a Small Cap Growth Equities fund managed by Kinetics. Over the past 5 years, QQQM returned 16.94%/yr vs 13.81%/yr for KSCOX. At a 0.33 correlation, their price movements are largely independent. QQQM charges 0.15%/yr vs 1.64%/yr for KSCOX.

Performance

QQQM vs. KSCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Kinetics Small Cap Opportunities Fund (KSCOX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with QQQM having a 17.59% return and KSCOX slightly lower at 16.92%.

QQQM

1D
0.67%
1M
1.75%
YTD
17.59%
6M
17.91%
1Y
37.64%
3Y*
26.52%
5Y*
16.94%
10Y*
—

KSCOX

1D
-0.30%
1M
-1.82%
YTD
16.92%
6M
17.67%
1Y
3.51%
3Y*
25.95%
5Y*
13.81%
10Y*
19.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQM vs. KSCOX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
QQQM
Invesco NASDAQ 100 ETF		17.59%20.85%25.68%55.01%-32.52%27.45%6.64%
KSCOX
Kinetics Small Cap Opportunities Fund		16.92%-8.66%68.42%-14.77%31.96%50.32%33.97%

Correlation

The correlation between QQQM and KSCOX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2020

0.33

The correlation between QQQM and KSCOX shifts across timeframes, from 0.22 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco NASDAQ 100 ETF

Kinetics Small Cap Opportunities Fund

Often compared with QQQM:
QQQM vs. QQQQQQM vs. SCHGQQQM vs. VOOQQQM vs. VGTQQQM vs. SCHDQQQM vs. JEPQQQQM vs. FTEC
Often compared with KSCOX:
KSCOX vs. VGIAXKSCOX vs. KMKAXKSCOX vs. WWNPXKSCOX vs. WWWEXKSCOX vs. KMKNXKSCOX vs. GVLUKSCOX vs. KSOAX

Return for Risk

QQQM vs. KSCOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQM
QQQM Risk / Return Rank: 7272
Overall Rank
QQQM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QQQM Sortino Ratio Rank: 7171
Sortino Ratio Rank
QQQM Omega Ratio Rank: 7373
Omega Ratio Rank
QQQM Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQM Martin Ratio Rank: 7070
Martin Ratio Rank
KSCOX
KSCOX Risk / Return Rank: 55
Overall Rank
KSCOX Sharpe Ratio Rank: 55
Sharpe Ratio Rank
KSCOX Sortino Ratio Rank: 66
Sortino Ratio Rank
KSCOX Omega Ratio Rank: 66
Omega Ratio Rank
KSCOX Calmar Ratio Rank: 55
Calmar Ratio Rank
KSCOX Martin Ratio Rank: 55
Martin Ratio Rank
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.

QQQM vs. KSCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Kinetics Small Cap Opportunities Fund (KSCOX). 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.

QQQMKSCOXDifference
Sharpe ratioReturn per unit of total volatility
2.11
0.15

+1.96

Sortino ratioReturn per unit of downside risk
2.74
0.39

+2.35

Omega ratioGain probability vs. loss probability

1.37

1.05

+0.32

Calmar ratioReturn relative to maximum drawdown

3.02

0.21

+2.80

Martin ratioReturn relative to average drawdown

11.23

0.47

+10.76

QQQM vs. KSCOX - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.11, which is higher than the KSCOX Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of QQQM and KSCOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QQQM vs. KSCOX - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, smaller than the maximum KSCOX drawdown of -70.09%. Use the drawdown chart below to compare losses from any high point for QQQM and KSCOX.

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Drawdown Indicators

QQQMKSCOXDifference

Max Drawdown

Largest peak-to-trough decline

-35.04%

-70.09%

+35.05%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-18.95%

+6.99%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-33.10%

+10.40%

Max Drawdown (5Y)

Largest decline over 5 years

-35.04%

-33.10%

-1.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-47.09%

—

Current Drawdown

Current decline from peak

-3.33%

-19.79%

+16.46%

Average Drawdown

Average peak-to-trough decline

-8.23%

-14.89%

+6.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

8.65%

-5.44%

Volatility

QQQM vs. KSCOX - Volatility Comparison

The current volatility for Invesco NASDAQ 100 ETF (QQQM) is 7.45%, while Kinetics Small Cap Opportunities Fund (KSCOX) has a volatility of 7.96%. This indicates that QQQM experiences smaller price fluctuations and is considered to be less risky than KSCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQMKSCOXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.45%

7.96%

-0.51%

Volatility (6M)

Calculated over the trailing 6-month period

13.71%

22.22%

-8.51%

Volatility (1Y)

Calculated over the trailing 1-year period

17.11%

26.51%

-9.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.40%

27.95%

-5.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.22%

26.18%

-3.96%

QQQM vs. KSCOX - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than KSCOX's 1.64% expense ratio.

Dividends

QQQM vs. KSCOX - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.43%, more than KSCOX's 0.15% yield.

PositionTTM202520242023202220212020
KSCOX
Kinetics Small Cap Opportunities Fund		0.15%0.18%3.58%6.71%0.00%1.67%0.00%
QQQM
Invesco NASDAQ 100 ETF		0.43%0.50%0.61%0.65%0.83%0.40%0.16%

Frequently Asked Questions

QQQM and KSCOX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KSCOX has higher volatility (7.96%) compared to QQQM (7.45%). In terms of maximum drawdown, QQQM dropped -35.04% vs KSCOX's -70.09%.

QQQM currently has the higher Sharpe Ratio (2.11 vs 0.15), 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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