KNPAX Performance — Kinetics Paradigm Fund, Advisor Class A
Data updated: 2026-08-19
KNPAX returned +29.72% year to date and +9.97% over one year to Jun 2026. Annualised returns are +33.78% over 3 years and +14.98% over 5 years. Against its US Small Value category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $239, against $153 for the category, and to $110 over one year, against $131. Volatility over the past three years was 39.01% a year. In the 12 months to Jun 2026 the fund lost a net $131.3M, and assets reached $1.19B.
KNPAX Growth of $100
What $100 invested in Kinetics Paradigm Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Value category average over the same months.
| Period | KNPAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $110 | $131 |
| 3 years (Jul 2023 – Jun 2026) | $239 | $153 |
| 5 years (Jul 2021 – Jun 2026) | $201 | $149 |
| Since data start (Jul 2019 – Jun 2026) | $319 | $213 |
KNPAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +29.72% |
| 1 year | +9.97% |
| 3 years (annualised) | +33.78% |
| 5 years (annualised) | +14.98% |
KNPAX Annual Returns
Calendar-year total returns of Kinetics Paradigm Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +29.72% |
| 2025 | −14.82% |
| 2024 | +87.98% |
| 2023 | −17.10% |
| 2022 | +28.87% |
| 2021 | +37.82% |
| 2020 | +3.06% |
| 2019 (Jul–Dec) | +1.09% |
KNPAX 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 | +14.5% | +31.5% | −7.9% | −3.0% | −7.9% | +4.8% | — | — | — | — | — | — |
| 2025 | +13.5% | +5.0% | −5.6% | −0.5% | −7.8% | −2.6% | −4.9% | −2.8% | +1.0% | −0.1% | −7.8% | −1.5% |
| 2024 | −3.8% | +9.3% | +8.1% | −3.9% | +6.6% | +9.8% | +14.8% | +1.3% | +3.0% | +23.9% | +31.6% | −24.6% |
| 2023 | −7.6% | −8.7% | −2.1% | −8.3% | −8.9% | +4.3% | +8.5% | +13.7% | −3.0% | +1.2% | −3.8% | −1.1% |
| 2022 | −10.9% | +6.8% | +8.0% | −3.2% | +5.5% | −7.2% | +16.8% | −1.7% | −5.1% | +20.6% | +9.4% | −8.0% |
| 2021 | +5.4% | +18.9% | +23.1% | −1.0% | −5.3% | +5.2% | −2.5% | −3.8% | −7.8% | +8.2% | −4.4% | +1.2% |
| 2020 | −0.1% | −6.4% | −27.5% | +20.2% | +2.3% | −1.3% | −0.9% | +1.4% | −7.6% | 0.0% | +21.1% | +11.4% |
| 2019 | — | — | — | — | — | — | +1.8% | −8.0% | −0.6% | −3.6% | +5.7% | +6.6% |
KNPAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 39.01%
- 3-year Sharpe ratio: 0.75 (vs 4.5% risk-free rate)
- Best month: +31.55% (Nov 2024)
- Worst month: −24.64% (Dec 2024)
KNPAX Fund Flows
Monthly money in and out of Kinetics Paradigm Fund, from SEC Form N-PORT.
- 12-month net flow: −$131.3M
- 12-month gross sales (incl. reinvestments): $173.2M
- Sales ÷ redemptions: 0.57×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $5.4M | $13.0M | −$7.6M |
| May 2026 | $8.8M | $11.6M | −$2.8M |
| Apr 2026 | $5.8M | $34.5M | −$28.7M |
| Mar 2026 | $14.3M | $35.5M | −$21.2M |
| Feb 2026 | $7.5M | $27.0M | −$19.5M |
| Jan 2026 | $5.5M | $18.1M | −$12.6M |
| Dec 2025 | $82.3M | $34.2M | $48.1M |
| Nov 2025 | $6.5M | $16.8M | −$10.3M |
| Oct 2025 | $6.6M | $21.9M | −$15.3M |
| Sep 2025 | $10.2M | $21.8M | −$11.6M |
| Aug 2025 | $11.2M | $26.4M | −$15.3M |
| Jul 2025 | $9.3M | $43.8M | −$34.5M |
KNPAX Assets Under Management
Net assets of Kinetics Paradigm Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.19B |
| 2026-03-31 | $1.32B |
| 2025-12-31 | $990.77M |
| 2025-09-30 | $1.15B |
| 2025-06-30 | $1.30B |
| 2025-03-31 | $1.50B |
| 2024-12-31 | $1.27B |
| 2024-09-30 | $1.07B |
| 2024-06-30 | $894.52M |
| 2024-03-31 | $825.72M |
| 2023-12-31 | $763.62M |
| 2023-09-30 | $832.48M |
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.