WWWFX vs. WWWEX

Last updated Jun 4, 2026

WWWFX (Kinetics Internet No Load) and WWWEX (Kinetics The Global Fund) are both mutual funds - WWWFX is a Technology Equities fund actively managed by Kinetics, while WWWEX is a Diversified Portfolio fund managed by Kinetics. Over the past 10 years, WWWFX returned 14.91%/yr vs 15.47%/yr for WWWEX. A 0.79 correlation means they provide meaningful diversification when combined. WWWFX charges 1.71%/yr vs 1.39%/yr for WWWEX.

Performance

WWWFX vs. WWWEX - Performance Comparison

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

Returns By Period

In the year-to-date period, WWWFX achieves a -7.07% return, which is significantly lower than WWWEX's 4.42% return. Both investments have delivered pretty close results over the past 10 years, with WWWFX having a 14.91% annualized return and WWWEX not far ahead at 15.47%.

WWWFX

• 1D: -3.26%
• 1M: -11.38%
• YTD: -7.07%
• 6M: -12.13%
• 1Y: -21.06%
• 3Y*: 26.31%
• 5Y*: 8.11%
• 10Y*: 14.91%

WWWEX

• 1D: -1.06%
• 1M: -5.15%
• YTD: 4.42%
• 6M: 3.12%
• 1Y: 0.01%
• 3Y*: 30.09%
• 5Y*: 13.51%
• 10Y*: 15.47%

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

WWWFX vs. WWWEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WWWFX Kinetics Internet No Load	-7.07%	-9.04%	76.42%	29.74%	-24.28%	15.35%	56.42%	26.44%	-26.97%	56.61%
WWWEX Kinetics The Global Fund	4.42%	2.89%	72.15%	11.83%	-6.45%	16.29%	25.00%	21.61%	-23.57%	48.93%

Correlation

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

Return for Risk

WWWFX vs. WWWEX — Risk / Return Rank

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

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

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

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.

WWWFX vs. WWWEX - Risk-Adjusted Trends Comparison

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

	WWWFX	WWWEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	0.04	-0.73
Sortino ratio: Return per unit of downside risk	-0.85	0.16	-1.01
Omega ratio: Gain probability vs. loss probability	0.90	1.02	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.63	0.05	-0.68
Martin ratio: Return relative to average drawdown	-1.25	0.12	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WWWFX vs. WWWEX - Sharpe Ratio Comparison

The current WWWFX Sharpe Ratio is -0.69, which is lower than the WWWEX Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of WWWFX and WWWEX, 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

	WWWFX	WWWEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.69	0.04	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.70	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.81	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.23	+0.30

Drawdowns

WWWFX vs. WWWEX - Drawdown Comparison

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

Drawdown Indicators

	WWWFX	WWWEX	Difference
Max Drawdown Largest peak-to-trough decline	-75.71%	-82.60%	+6.89%
Max Drawdown (1Y) Largest decline over 1 year	-31.95%	-12.14%	-19.81%
Max Drawdown (3Y) Largest decline over 3 years	-31.95%	-17.66%	-14.29%
Max Drawdown (5Y) Largest decline over 5 years	-40.65%	-26.62%	-14.03%
Max Drawdown (10Y) Largest decline over 10 years	-42.32%	-36.00%	-6.32%
Current Drawdown Current decline from peak	-27.93%	-9.94%	-17.99%
Average Drawdown Average peak-to-trough decline	-31.34%	-41.31%	+9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.94%	5.10%	+10.84%

Volatility

WWWFX vs. WWWEX - Volatility Comparison

Kinetics Internet No Load (WWWFX) has a higher volatility of 6.62% compared to Kinetics The Global Fund (WWWEX) at 3.91%. This indicates that WWWFX's price experiences larger fluctuations and is considered to be riskier than WWWEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WWWFX	WWWEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	3.91%	+2.71%
Volatility (6M) Calculated over the trailing 6-month period	22.94%	13.52%	+9.42%
Volatility (1Y) Calculated over the trailing 1-year period	28.95%	16.78%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.86%	19.52%	+8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.76%	19.18%	+7.58%

WWWFX vs. WWWEX - Expense Ratio Comparison

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

Dividends

WWWFX vs. WWWEX - Dividend Comparison

WWWFX's dividend yield for the trailing twelve months is around 1.94%, less than WWWEX's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WWWEX Kinetics The Global Fund	2.47%	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	1.94%	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 WWWFX and WWWEX in my portfolio?

With a correlation of 0.91, WWWFX and WWWEX 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, WWWFX or WWWEX?

WWWFX has higher volatility (6.62%) compared to WWWEX (3.91%). In terms of maximum drawdown, WWWFX dropped -75.71% vs WWWEX's -82.60%.

Which has better risk-adjusted returns?

WWWEX currently has the higher Sharpe Ratio (0.04 vs -0.69), 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.