WBSIX vs. KSCOX

Last updated Jun 24, 2026

WBSIX (William Blair Small Cap Growth Fund) and KSCOX (Kinetics Small Cap Opportunities Fund) are both Small Cap Growth Equities funds. Over the past 10 years, WBSIX returned 15.39%/yr vs 19.13%/yr for KSCOX. A 0.66 correlation means they provide meaningful diversification when combined. WBSIX charges 1.25%/yr vs 1.64%/yr for KSCOX.

Performance

WBSIX vs. KSCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Small Cap Growth Fund (WBSIX) 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, WBSIX achieves a 19.52% return, which is significantly higher than KSCOX's 13.17% return. Over the past 10 years, WBSIX has underperformed KSCOX with an annualized return of 15.39%, while KSCOX has yielded a comparatively higher 19.13% annualized return.

WBSIX

• 1D: 0.25%
• 1M: 6.39%
• YTD: 19.52%
• 6M: 17.13%
• 1Y: 32.93%
• 3Y*: 21.13%
• 5Y*: 8.19%
• 10Y*: 15.39%

KSCOX

• 1D: -0.23%
• 1M: -8.65%
• YTD: 13.17%
• 6M: 10.75%
• 1Y: 3.59%
• 3Y*: 25.36%
• 5Y*: 12.71%
• 10Y*: 19.13%

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

WBSIX vs. KSCOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBSIX William Blair Small Cap Growth Fund	19.52%	3.03%	32.88%	16.38%	-21.46%	12.64%	38.87%	22.53%	-2.08%	26.81%
KSCOX Kinetics Small Cap Opportunities Fund	13.17%	-8.66%	68.42%	-14.77%	31.96%	50.32%	2.30%	27.06%	0.29%	26.23%

Correlation

The correlation between WBSIX 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	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 20, 2000	0.66

Over the past year, the correlation between WBSIX and KSCOX has dropped to 0.40 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

WBSIX vs. KSCOX — Risk / Return Rank

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

WBSIX

WBSIX Risk / Return Rank: 42
WBSIX Sharpe Ratio Rank: 37
WBSIX Sortino Ratio Rank: 37
WBSIX Omega Ratio Rank: 32
WBSIX Calmar Ratio Rank: 54
WBSIX Martin Ratio Rank: 50

KSCOX

KSCOX Risk / Return Rank: 3
KSCOX Sharpe Ratio Rank: 3
KSCOX Sortino Ratio Rank: 4
KSCOX Omega Ratio Rank: 4
KSCOX Calmar Ratio Rank: 3
KSCOX Martin Ratio Rank: 3

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.

WBSIX vs. KSCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Small Cap Growth Fund (WBSIX) 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.

	WBSIX	KSCOX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	0.08	+1.58
Sortino ratio: Return per unit of downside risk	2.37	0.30	+2.08
Omega ratio: Gain probability vs. loss probability	1.28	1.04	+0.24
Calmar ratio: Return relative to maximum drawdown	2.69	0.10	+2.59
Martin ratio: Return relative to average drawdown	9.68	0.24	+9.45

WBSIX vs. KSCOX - Sharpe Ratio Comparison

The current WBSIX Sharpe Ratio is 1.66, which is higher than the KSCOX Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of WBSIX 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.

Drawdowns

WBSIX vs. KSCOX - Drawdown Comparison

The maximum WBSIX drawdown since its inception was -62.35%, smaller than the maximum KSCOX drawdown of -70.09%. Use the drawdown chart below to compare losses from any high point for WBSIX and KSCOX.

Drawdown Indicators

	WBSIX	KSCOX	Difference
Max Drawdown Largest peak-to-trough decline	-62.35%	-70.09%	+7.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-21.54%	+8.79%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-33.10%	+8.34%
Max Drawdown (5Y) Largest decline over 5 years	-38.13%	-33.10%	-5.03%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	-47.09%	+7.93%
Current Drawdown Current decline from peak	0.00%	-22.36%	+22.36%
Average Drawdown Average peak-to-trough decline	-11.12%	-14.90%	+3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	9.05%	-5.52%

Volatility

WBSIX vs. KSCOX - Volatility Comparison

The current volatility for William Blair Small Cap Growth Fund (WBSIX) is 6.86%, while Kinetics Small Cap Opportunities Fund (KSCOX) has a volatility of 8.09%. This indicates that WBSIX 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.

Volatility by Period

	WBSIX	KSCOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	8.09%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	15.40%	21.95%	-6.55%
Volatility (1Y) Calculated over the trailing 1-year period	20.77%	26.78%	-6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.98%	27.95%	-3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.09%	26.22%	-3.13%

WBSIX vs. KSCOX - Expense Ratio Comparison

WBSIX has a 1.25% expense ratio, which is lower than KSCOX's 1.64% expense ratio.

Dividends

WBSIX vs. KSCOX - Dividend Comparison

WBSIX's dividend yield for the trailing twelve months is around 6.26%, more than KSCOX's 0.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KSCOX Kinetics Small Cap Opportunities Fund	0.16%	0.18%	3.58%	6.71%	0.00%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WBSIX William Blair Small Cap Growth Fund	6.26%	7.49%	20.14%	1.53%	3.55%	17.85%	9.73%	2.07%	12.60%	16.89%	5.42%	8.25%

Frequently Asked Questions

Can I hold both WBSIX and KSCOX in my portfolio?

WBSIX 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, WBSIX or KSCOX?

KSCOX has higher volatility (8.09%) compared to WBSIX (6.86%). In terms of maximum drawdown, WBSIX dropped -62.35% vs KSCOX's -70.09%.

Which has better risk-adjusted returns?

WBSIX currently has the higher Sharpe Ratio (1.66 vs 0.08), 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.