Any investors hoping to find a Global - Equity fund might consider looking past Kinetics Small Cap Opportunity No Load (KSCOX Quick QuoteKSCOX - Free Report) . KSCOX possesses a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.

Objective

Zacks categorizes KSCOX as Global - Equity, which is a segment packed with options. Global - Equity mutual funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. They also provide an investment technique that leverages the diverse nature of the global economy in the hopes of providing a stable return.

History of Fund/Manager

KSCOX finds itself in the Kinetics family, based out of Sleepy Hollow, NY. Kinetics Small Cap Opportunity No Load made its debut in February of 2003, and since then, KSCOX has accumulated about $126.58 million in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 15.4%, and is in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 9.24%, which places it in the bottom third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. KSCOX's standard deviation over the past three years is 31.25% compared to the category average of 17.61%. Over the past 5 years, the standard deviation of the fund is 25.09% compared to the category average of 14.82%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.32, so it is likely going to be more volatile than the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. KSCOX has generated a negative alpha over the past five years of -2.29, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, KSCOX is a no load fund. It has an expense ratio of 1.64% compared to the category average of 1.14%. From a cost perspective, KSCOX is actually more expensive than its peers.

Investors should also note that the minimum initial investment for the product is $2,500 and that each subsequent investment has no minimum amount.

Bottom Line

Overall, Kinetics Small Cap Opportunity No Load ( KSCOX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, Kinetics Small Cap Opportunity No Load ( KSCOX ) looks like a somewhat weak choice for investors right now.

Your research on the Global - Equity segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.