KINAX Performance — Kinetics Internet Fund, Advisor Class A
Data updated: 2026-08-19
KINAX returned −9.37% year to date and −23.07% over one year to Jun 2026. Annualised returns are +22.06% over 3 years and +7.21% over 5 years. The fund trailed its Technology Equity category average: $100 invested three years ago grew to $182, against $225 for the category, and to $77 over one year, against $146. Volatility over the past three years was 28.06% a year. In the 12 months to Jun 2026 the fund lost a net $18.1M, and assets reached $248.11M.
KINAX Growth of $100
What $100 invested in Kinetics Internet Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Technology Equity category average over the same months.
| Period | KINAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $77 | $146 |
| 3 years (Jul 2023 – Jun 2026) | $182 | $225 |
| 5 years (Jul 2021 – Jun 2026) | $142 | $201 |
| Since data start (Jul 2019 – Jun 2026) | $232 | $379 |
KINAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −9.37% |
| 1 year | −23.07% |
| 3 years (annualised) | +22.06% |
| 5 years (annualised) | +7.21% |
KINAX Annual Returns
Calendar-year total returns of Kinetics Internet Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | −9.37% |
| 2025 | −9.27% |
| 2024 | +76.01% |
| 2023 | +29.44% |
| 2022 | −24.46% |
| 2021 | +15.07% |
| 2020 | +56.04% |
| 2019 (Jul–Dec) | −8.82% |
KINAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +2.4% | −0.5% | −3.2% | +4.5% | −4.0% | −8.3% | — | — | — | — | — | — |
| 2025 | +8.0% | −7.7% | −3.4% | +6.9% | +2.5% | +1.2% | +2.9% | −5.2% | +4.5% | −2.0% | −12.2% | −3.3% |
| 2024 | +3.0% | +20.8% | +8.4% | −9.3% | +8.7% | −2.7% | +7.8% | −4.0% | +4.3% | +12.5% | +26.2% | −11.2% |
| 2023 | +1.4% | −4.3% | +5.9% | −2.2% | −6.5% | +9.7% | +2.9% | +3.6% | −0.9% | +10.4% | +3.4% | +4.1% |
| 2022 | −11.5% | +3.3% | +4.2% | −8.5% | −5.5% | −13.5% | +10.8% | −4.7% | −4.4% | +9.8% | +0.4% | −4.8% |
| 2021 | +3.9% | +15.1% | +11.4% | −1.3% | −14.9% | +2.8% | +3.1% | +2.0% | −6.6% | +17.3% | −5.0% | −8.6% |
| 2020 | +5.8% | −6.1% | −16.2% | +17.8% | +5.9% | −2.7% | +7.5% | +3.8% | −8.7% | +7.6% | +20.7% | +16.7% |
| 2019 | — | — | — | — | — | — | −1.6% | −5.7% | −2.2% | +0.4% | +0.4% | −0.4% |
KINAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 28.06%
- 3-year Sharpe ratio: 0.63 (vs 4.5% risk-free rate)
- Best month: +26.15% (Nov 2024)
- Worst month: −12.25% (Nov 2025)
KINAX Fund Flows
Monthly money in and out of Kinetics Internet Fund, from SEC Form N-PORT.
- 12-month net flow: −$18.1M
- 12-month gross sales (incl. reinvestments): $31.4M
- Sales ÷ redemptions: 0.63×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $1.2M | $3.0M | −$1.8M |
| May 2026 | $1.2M | $3.2M | −$1.9M |
| Apr 2026 | $1.9M | $2.0M | −$60K |
| Mar 2026 | $1.5M | $2.7M | −$1.2M |
| Feb 2026 | $2.1M | $2.7M | −$634K |
| Jan 2026 | $1.3M | $3.8M | −$2.5M |
| Dec 2025 | $6.7M | $7.5M | −$818K |
| Nov 2025 | $1.1M | $6.2M | −$5.1M |
| Oct 2025 | $3.4M | $4.1M | −$737K |
| Sep 2025 | $1.6M | $4.0M | −$2.4M |
| Aug 2025 | $6.2M | $3.7M | $2.5M |
| Jul 2025 | $3.3M | $6.6M | −$3.3M |
KINAX Assets Under Management
Net assets of Kinetics Internet Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $248.11M |
| 2026-03-31 | $273.52M |
| 2025-12-31 | $281.65M |
| 2025-09-30 | $351.82M |
| 2025-06-30 | $347.66M |
| 2025-03-31 | $308.57M |
| 2024-12-31 | $330.98M |
| 2024-09-30 | $260.15M |
| 2024-06-30 | $247.02M |
| 2024-03-31 | $256.66M |
| 2023-12-31 | $190.07M |
| 2023-09-30 | $161.86M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.