TQAIX vs. KSCOX

Last updated Jun 4, 2026

TQAIX (T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I) and KSCOX (Kinetics Small Cap Opportunities Fund) are both Small Cap Growth Equities funds. Over the past 10 years, TQAIX returned 11.87%/yr vs 19.27%/yr for KSCOX. A 0.56 correlation means they provide meaningful diversification when combined. TQAIX charges 0.65%/yr vs 1.64%/yr for KSCOX.

Performance

TQAIX vs. KSCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX) and Kinetics Small Cap Opportunities Fund (KSCOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQAIX achieves a 14.83% return, which is significantly lower than KSCOX's 17.73% return. Over the past 10 years, TQAIX has underperformed KSCOX with an annualized return of 11.87%, while KSCOX has yielded a comparatively higher 19.27% annualized return.

TQAIX

• 1D: 0.91%
• 1M: 3.82%
• YTD: 14.83%
• 6M: 13.64%
• 1Y: 29.15%
• 3Y*: 16.65%
• 5Y*: 7.74%
• 10Y*: 11.87%

KSCOX

• 1D: 0.37%
• 1M: -7.02%
• YTD: 17.73%
• 6M: 13.43%
• 1Y: 4.10%
• 3Y*: 25.90%
• 5Y*: 14.50%
• 10Y*: 19.27%

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

TQAIX vs. KSCOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TQAIX T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I	14.83%	10.28%	13.10%	21.34%	-22.38%	11.32%	24.01%	32.92%	-6.77%	22.26%
KSCOX Kinetics Small Cap Opportunities Fund	17.73%	-8.66%	68.42%	-14.77%	31.96%	50.32%	2.30%	27.06%	0.29%	26.23%

Correlation

The correlation between TQAIX and KSCOX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 28, 2016	0.56

The correlation between TQAIX and KSCOX shifts across timeframes, from 0.40 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TQAIX vs. KSCOX — Risk / Return Rank

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

TQAIX

TQAIX Risk / Return Rank: 38
TQAIX Sharpe Ratio Rank: 32
TQAIX Sortino Ratio Rank: 32
TQAIX Omega Ratio Rank: 30
TQAIX Calmar Ratio Rank: 46
TQAIX Martin Ratio Rank: 48

KSCOX

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

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.

TQAIX vs. KSCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX) 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.

	TQAIX	KSCOX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	0.20	+1.44
Sortino ratio: Return per unit of downside risk	2.36	0.45	+1.91
Omega ratio: Gain probability vs. loss probability	1.29	1.06	+0.23
Calmar ratio: Return relative to maximum drawdown	2.57	0.28	+2.29
Martin ratio: Return relative to average drawdown	9.96	0.63	+9.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQAIX vs. KSCOX - Sharpe Ratio Comparison

The current TQAIX Sharpe Ratio is 1.65, which is higher than the KSCOX Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of TQAIX 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.

Sharpe Ratios by Period

	TQAIX	KSCOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	0.20	+1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.52	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.74	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.58	0.00

Drawdowns

TQAIX vs. KSCOX - Drawdown Comparison

The maximum TQAIX drawdown since its inception was -37.58%, smaller than the maximum KSCOX drawdown of -70.09%. Use the drawdown chart below to compare losses from any high point for TQAIX and KSCOX.

Drawdown Indicators

	TQAIX	KSCOX	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-70.09%	+32.51%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-18.82%	+6.75%
Max Drawdown (3Y) Largest decline over 3 years	-25.78%	-33.10%	+7.32%
Max Drawdown (5Y) Largest decline over 5 years	-33.12%	-33.10%	-0.02%
Max Drawdown (10Y) Largest decline over 10 years	-37.58%	-47.09%	+9.51%
Current Drawdown Current decline from peak	-0.33%	-19.24%	+18.91%
Average Drawdown Average peak-to-trough decline	-7.56%	-14.89%	+7.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	8.24%	-5.13%

Volatility

TQAIX vs. KSCOX - Volatility Comparison

T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX) and Kinetics Small Cap Opportunities Fund (KSCOX) have volatilities of 6.04% and 6.04%, 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.

Volatility by Period

	TQAIX	KSCOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	6.04%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	14.76%	21.67%	-6.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.83%	25.88%	-7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	27.83%	-6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	26.13%	-4.62%

TQAIX vs. KSCOX - Expense Ratio Comparison

TQAIX has a 0.65% expense ratio, which is lower than KSCOX's 1.64% expense ratio.

Dividends

TQAIX vs. KSCOX - Dividend Comparison

TQAIX's dividend yield for the trailing twelve months is around 5.46%, more than KSCOX's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KSCOX Kinetics Small Cap Opportunities Fund	0.15%	0.18%	3.58%	6.71%	0.00%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%
TQAIX T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I	5.46%	6.27%	8.01%	2.41%	3.70%	13.89%	3.01%	4.11%	4.68%	0.21%	0.02%

Frequently Asked Questions

Can I hold both TQAIX and KSCOX in my portfolio?

TQAIX and KSCOX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQAIX or KSCOX?

KSCOX has higher volatility (6.04%) compared to TQAIX (6.04%). In terms of maximum drawdown, TQAIX dropped -37.58% vs KSCOX's -70.09%.

Which has better risk-adjusted returns?

TQAIX currently has the higher Sharpe Ratio (1.65 vs 0.20), 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.