KWIIX: Kinetics Alternative Income Instl

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KWIIX Kinetics Alternative Income Instl


Profile

KWIIX - Profile

Vitals

  • YTD Return 1.9%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return 2.2%
  • Net Assets $13.3 M
  • Holdings in Top 10 58.1%

52 WEEK LOW AND HIGH

$101.44
$96.44
$101.52

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.96%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 0.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA $1,000,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.61%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Kinetics Alternative Income Fund
  • Fund Family Name
    Kinetics
  • Inception Date
    Jun 29, 2007
  • Shares Outstanding
    88933
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Murray Stahl

Fund Description

The fund is a diversified fund that invests all of its investable assets in the Alternative Income Portfolio, a series of Kinetics Portfolios Trust. Under normal circumstances, the Alternative Income Portfolio will hold a portfolio of primarily fixed income securities and implement an equity put writing option strategy intended to generate returns from the receipt of option premiums.


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Categories

KWIIX - Mutual Fund Categories


Performance

KWIIX - Performance

Return Ranking - Trailing

Period KWIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -9.0% 5.7% 41.43%
1 Yr 1.4% -10.8% 4.6% 47.34%
3 Yr 0.9%* -4.2% 2.3% 26.07%
5 Yr 2.2%* -19.7% 2.2% 0.40%
10 Yr 2.2%* -10.4% 3.8% 1.73%

* Annualized

Return Ranking - Calendar

Period KWIIX Return Category Return Low Category Return High Rank in Category (%)
2019 0.9% -6.6% 5.0% 93.51%
2018 -0.2% -4.8% 1.0% 7.80%
2017 2.3% -1.4% 2.8% 2.23%
2016 4.1% -65.8% 7.1% 5.04%
2015 3.0% -6.9% 3.0% 0.41%

Total Return Ranking - Trailing

Period KWIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -9.0% 5.7% 41.43%
1 Yr 1.4% -10.8% 4.6% 47.34%
3 Yr 1.4%* -3.9% 3.0% 27.86%
5 Yr 2.5%* -18.4% 3.7% 3.17%
10 Yr 3.0%* -8.7% 3.8% 2.31%

* Annualized

Total Return Ranking - Calendar

Period KWIIX Return Category Return Low Category Return High Rank in Category (%)
2019 0.9% -6.6% 5.0% 94.48%
2018 1.1% -4.1% 6.5% 13.12%
2017 2.5% -1.4% 5.9% 11.90%
2016 4.2% -65.2% 10.7% 8.53%
2015 3.1% -5.3% 3.5% 1.22%

NAV & Total Return History


Holdings

KWIIX - Holdings

Concentration Analysis

KWIIX Category Low Category High KWIIX % Rank
Net Assets 13.3 M 272 K 65.6 B 98.45%
Number of Holdings 6 3 2682 92.50%
Net Assets in Top 10 8.38 M -3.38 M 7.39 B 95.00%
Weighting of Top 10 58.13% 2.4% 100.0% 6.57%

Top 10 Holdings

  1. iShares Short-Term Corporate Bond ETF 20.49%
  2. Fidelity® Inv MM Fds Government I 16.66%
  3. Vanguard Short-Term Corporate Bond ETF 12.44%
  4. SPDR® Portfolio Short Term Corp Bd ETF 5.22%
  5. PIMCO Enhanced Short Maturity Active ETF 3.32%

Asset Allocation

Weighting Return Low Return High KWIIX % Rank
Cash
60.29% -33.34% 77.61% 1.56%
Bonds
37.59% 22.39% 122.47% 98.44%
Convertible Bonds
2.11% 0.00% 24.99% 33.75%
Stocks
0.00% 0.00% 7.37% 20.00%
Preferred Stocks
0.00% 0.00% 51.70% 28.44%
Other
0.00% -1.74% 20.06% 20.63%

Bond Sector Breakdown

Weighting Return Low Return High KWIIX % Rank
Cash & Equivalents
60.35% 0.02% 77.61% 1.56%
Corporate
38.37% 1.55% 99.85% 45.94%
Securitized
0.88% 0.00% 90.81% 91.25%
Government
0.40% 0.00% 72.82% 86.88%
Municipal
0.01% 0.00% 15.94% 54.69%
Derivative
0.00% 0.00% 27.93% 34.38%

Bond Geographic Breakdown

Weighting Return Low Return High KWIIX % Rank
US
28.82% 0.00% 98.17% 97.50%
Non US
8.77% 0.00% 73.47% 60.31%

Expenses

KWIIX - Expenses

Operational Fees

KWIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.96% 0.01% 23.90% 6.56%
Management Fee 0.90% 0.00% 1.19% 97.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% 5.81%

Sales Fees

KWIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

KWIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 25.00%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

KWIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 496.37% 0.63%

Distributions

KWIIX - Distributions

Dividend Yield Analysis

KWIIX Category Low Category High KWIIX % Rank
Dividend Yield 0.00% 0.00% 3.04% 16.15%

Dividend Distribution Analysis

KWIIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

KWIIX Category Low Category High KWIIX % Rank
Net Income Ratio 1.61% -2.82% 4.42% 85.94%

Capital Gain Distribution Analysis

KWIIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

KWIIX - Fund Manager Analysis

Managers

Murray Stahl


Start Date

Tenure

Tenure Rank

Apr 30, 2011

9.35

9.4%

Mr. Stahl is a Portfolio Manager at Horizon and is Chief Executive Officer, Chairman of the Board and is a co-founder of Horizon Kinetics. Mr. Stahl serves as the Firm's Chief Investment Officer, and chairs the Firm's Investment Committee, which is responsible for portfolio management decisions across the entire firm. Previously, Murray spent 16 years at Bankers Trust Company (1978-1994) as a senior portfolio manager and research analyst. He was also a member of the Equity Strategy Group and the Investment Strategy Group, which established asset allocation guidelines for the Private Bank. Murray received a BA and MA from Brooklyn College and an MBA from Pace University.

Matthew Houk


Start Date

Tenure

Tenure Rank

Dec 31, 2015

4.67

4.7%

Matt joined Horizon Asset Management LLC in 2008 and has responsibilities in both Research and Portfolio Management. Matt is a member of the Investment Committee and has responsibilities in the identification, analysis and monitoring of certain investment opportunities for the firm. Previously, from 2005 through 2008, Matt was an Associate with Goldman, Sachs & Co. Matt received a BA in Economics and Political Science from Yale University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 27.02 5.59 0.67