WWWEX vs. WWWFX

Last updated Jun 5, 2026

WWWEX (Kinetics The Global Fund) and WWWFX (Kinetics Internet No Load) are both mutual funds - WWWEX is a Diversified Portfolio fund managed by Kinetics, while WWWFX is a Technology Equities fund actively managed by Kinetics. Over the past 10 years, WWWEX returned 15.56%/yr vs 15.03%/yr for WWWFX. A 0.79 correlation means they provide meaningful diversification when combined. WWWEX charges 1.39%/yr vs 1.71%/yr for WWWFX.

Performance

WWWEX vs. WWWFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinetics The Global Fund (WWWEX) and Kinetics Internet No Load (WWWFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WWWEX achieves a 5.17% return, which is significantly higher than WWWFX's -6.09% return. Both investments have delivered pretty close results over the past 10 years, with WWWEX having a 15.56% annualized return and WWWFX not far behind at 15.03%.

WWWEX

• 1D: 0.72%
• 1M: -5.11%
• YTD: 5.17%
• 6M: 3.68%
• 1Y: 1.43%
• 3Y*: 30.40%
• 5Y*: 13.77%
• 10Y*: 15.56%

WWWFX

• 1D: 1.06%
• 1M: -11.21%
• YTD: -6.09%
• 6M: -11.17%
• 1Y: -19.31%
• 3Y*: 26.76%
• 5Y*: 8.50%
• 10Y*: 15.03%

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

WWWEX vs. WWWFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WWWEX Kinetics The Global Fund	5.17%	2.89%	72.15%	11.83%	-6.45%	16.29%	25.00%	21.61%	-23.57%	48.93%
WWWFX Kinetics Internet No Load	-6.09%	-9.04%	76.42%	29.74%	-24.28%	15.35%	56.42%	26.44%	-26.97%	56.61%

Correlation

The correlation between WWWEX and WWWFX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000	0.79

The correlation between WWWEX and WWWFX shifts across timeframes, from 0.79 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WWWEX vs. WWWFX — Risk / Return Rank

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

WWWEX

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

WWWFX

WWWFX Risk / Return Rank: 1
WWWFX Sharpe Ratio Rank: 1
WWWFX Sortino Ratio Rank: 1
WWWFX Omega Ratio Rank: 1
WWWFX Calmar Ratio Rank: 1
WWWFX Martin Ratio Rank: 1

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.

WWWEX vs. WWWFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics The Global Fund (WWWEX) and Kinetics Internet No Load (WWWFX). 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.

	WWWEX	WWWFX	Difference
Sharpe ratio: Return per unit of total volatility	0.04	-0.70	+0.74
Sortino ratio: Return per unit of downside risk	0.17	-0.87	+1.04
Omega ratio: Gain probability vs. loss probability	1.02	0.90	+0.12
Calmar ratio: Return relative to maximum drawdown	0.06	-0.64	+0.69
Martin ratio: Return relative to average drawdown	0.14	-1.26	+1.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WWWEX vs. WWWFX - Sharpe Ratio Comparison

The current WWWEX Sharpe Ratio is 0.04, which is higher than the WWWFX Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of WWWEX and WWWFX, 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

	WWWEX	WWWFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	-0.70	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.31	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.56	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.53	-0.30

Drawdowns

WWWEX vs. WWWFX - Drawdown Comparison

The maximum WWWEX drawdown since its inception was -82.60%, which is greater than WWWFX's maximum drawdown of -75.71%. Use the drawdown chart below to compare losses from any high point for WWWEX and WWWFX.

Drawdown Indicators

	WWWEX	WWWFX	Difference
Max Drawdown Largest peak-to-trough decline	-82.60%	-75.71%	-6.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-31.95%	+19.81%
Max Drawdown (3Y) Largest decline over 3 years	-17.66%	-31.95%	+14.29%
Max Drawdown (5Y) Largest decline over 5 years	-26.62%	-40.65%	+14.03%
Max Drawdown (10Y) Largest decline over 10 years	-36.00%	-42.32%	+6.32%
Current Drawdown Current decline from peak	-9.29%	-27.16%	+17.87%
Average Drawdown Average peak-to-trough decline	-41.31%	-31.34%	-9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	16.03%	-10.90%

Volatility

WWWEX vs. WWWFX - Volatility Comparison

The current volatility for Kinetics The Global Fund (WWWEX) is 3.99%, while Kinetics Internet No Load (WWWFX) has a volatility of 6.63%. This indicates that WWWEX experiences smaller price fluctuations and is considered to be less risky than WWWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WWWEX	WWWFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	6.63%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	22.66%	-9.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	28.97%	-12.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.52%	27.87%	-8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	26.76%	-7.58%

WWWEX vs. WWWFX - Expense Ratio Comparison

WWWEX has a 1.39% expense ratio, which is lower than WWWFX's 1.71% expense ratio.

Dividends

WWWEX vs. WWWFX - Dividend Comparison

WWWEX's dividend yield for the trailing twelve months is around 2.45%, more than WWWFX's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WWWEX Kinetics The Global Fund	2.45%	2.58%	0.98%	2.50%	1.47%	3.50%	0.00%	0.00%	0.08%	9.04%	0.40%	0.06%
WWWFX Kinetics Internet No Load	1.92%	1.81%	0.94%	0.75%	0.84%	0.85%	0.00%	1.45%	39.59%	18.48%	8.72%	27.23%

Frequently Asked Questions

Can I hold both WWWEX and WWWFX in my portfolio?

With a correlation of 0.91, WWWEX and WWWFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, WWWEX or WWWFX?

WWWFX has higher volatility (6.63%) compared to WWWEX (3.99%). In terms of maximum drawdown, WWWEX dropped -82.60% vs WWWFX's -75.71%.

Which has better risk-adjusted returns?

WWWEX currently has the higher Sharpe Ratio (0.04 vs -0.70), 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.