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WWNPX vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

WWNPX vs. ^GSPC

Last updated Jun 3, 2026

WWNPX (Kinetics Paradigm Fund) is Mid Cap Growth Equities fund managed by Kinetics, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, WWNPX returned 18.17%/yr vs 13.75%/yr for ^GSPC. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

WWNPX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinetics Paradigm Fund (WWNPX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WWNPX achieves a 18.58% return, which is significantly higher than ^GSPC's 11.16% return. Over the past 10 years, WWNPX has outperformed ^GSPC with an annualized return of 18.17%, while ^GSPC has yielded a comparatively lower 13.75% annualized return.

WWNPX

1D
-4.32%
1M
-10.76%
YTD
18.58%
6M
17.18%
1Y
-2.03%
3Y*
30.19%
5Y*
13.92%
10Y*
18.17%

^GSPC

1D
0.13%
1M
5.25%
YTD
11.16%
6M
11.43%
1Y
28.20%
3Y*
21.12%
5Y*
12.66%
10Y*
13.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WWNPX vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WWNPX
Kinetics Paradigm Fund		18.58%-14.61%88.34%-16.97%29.18%38.14%3.38%30.47%-5.24%28.41%
^GSPC
S&P 500 Index		11.16%16.39%23.31%24.23%-19.44%26.89%16.26%28.88%-6.24%19.42%

Correlation

The correlation between WWNPX and ^GSPC is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.37

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

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.50

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2000

0.66

Over the past year, the correlation between WWNPX and ^GSPC has dropped to 0.30 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

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Kinetics Paradigm Fund

S&P 500 Index

Often compared with WWNPX:
WWNPX vs. KSCOXWWNPX vs. SPYWWNPX vs. WWWEXWWNPX vs. SMHWWNPX vs. FSELXWWNPX vs. FSHOXWWNPX vs. SWPPX
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. TSMU^GSPC vs. GC=F^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

WWNPX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WWNPX
WWNPX Risk / Return Rank: 22
Overall Rank
WWNPX Sharpe Ratio Rank: 22
Sharpe Ratio Rank
WWNPX Sortino Ratio Rank: 33
Sortino Ratio Rank
WWNPX Omega Ratio Rank: 33
Omega Ratio Rank
WWNPX Calmar Ratio Rank: 11
Calmar Ratio Rank
WWNPX Martin Ratio Rank: 22
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7979
Overall Rank
^GSPC Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7676
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7777
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 7979
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8888
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.

WWNPX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics Paradigm Fund (WWNPX) and S&P 500 Index (^GSPC). 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.

WWNPX^GSPCDifference

Sharpe ratio

Return per unit of total volatility

-0.06

2.39

-2.45

Sortino ratio

Return per unit of downside risk

0.14

3.25

-3.11

Omega ratio

Gain probability vs. loss probability

1.02

1.43

-0.41

Calmar ratio

Return relative to maximum drawdown

-0.29

3.16

-3.45

Martin ratio

Return relative to average drawdown

-0.59

14.61

-15.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WWNPX vs. ^GSPC - Sharpe Ratio Comparison

The current WWNPX Sharpe Ratio is -0.06, which is lower than the ^GSPC Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of WWNPX and ^GSPC, 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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Sharpe Ratios by Period

WWNPX^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.06

2.39

-2.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.75

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.76

-0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.47

+0.04

Drawdowns

WWNPX vs. ^GSPC - Drawdown Comparison

The maximum WWNPX drawdown since its inception was -67.87%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for WWNPX and ^GSPC.

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Drawdown Indicators

WWNPX^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-67.87%

-56.78%

-11.09%

Max Drawdown (1Y)

Largest decline over 1 year

-23.17%

-9.10%

-14.07%

Max Drawdown (3Y)

Largest decline over 3 years

-41.13%

-18.90%

-22.23%

Max Drawdown (5Y)

Largest decline over 5 years

-41.13%

-25.43%

-15.70%

Max Drawdown (10Y)

Largest decline over 10 years

-43.51%

-33.92%

-9.59%

Current Drawdown

Current decline from peak

-28.13%

0.00%

-28.13%

Average Drawdown

Average peak-to-trough decline

-13.90%

-10.72%

-3.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.43%

1.97%

+9.46%

Volatility

WWNPX vs. ^GSPC - Volatility Comparison

Kinetics Paradigm Fund (WWNPX) has a higher volatility of 7.17% compared to S&P 500 Index (^GSPC) at 2.84%. This indicates that WWNPX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WWNPX^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.17%

2.84%

+4.33%

Volatility (6M)

Calculated over the trailing 6-month period

26.77%

8.98%

+17.79%

Volatility (1Y)

Calculated over the trailing 1-year period

32.80%

11.87%

+20.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.84%

16.90%

+15.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.58%

18.07%

+10.51%

Frequently Asked Questions

WWNPX and ^GSPC have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WWNPX has higher volatility (7.17%) compared to ^GSPC (2.84%). In terms of maximum drawdown, WWNPX dropped -67.87% vs ^GSPC's -56.78%.

^GSPC currently has the higher Sharpe Ratio (2.39 vs -0.06), 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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