Fund Evaluator:
Kinetics Global Adv A (KGLAX)
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Best Performing in Global Aggressive Allocation Over the Last Year
| 24.7% | TOPS® Aggressive ETF 2 () |
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| 19.3% | Goldman Sachs Growth Allocation Inv (GGSTX) |
Fund Details
Kinetics Global Adv A Overview
Kinetics Global Adv A (KGLAX) is an actively managed Allocation Global Aggressive Allocation fund. Kinetics launched the fund in 2008.
The investment seeks long-term growth of capital. The fund is a diversified fund that invests all of its investable assets in the Global Portfolio, a series of Kinetics Portfolios Trust. The Global Portfolio invests at least 65% of its net assets plus any borrowings for investment purposes in common stocks, ETFs, convertible securities, warrants and other equity securities having the characteristics of common stocks of foreign and U.S. companies listed on publicly traded exchanges.
About Kinetics Global Adv A (KGLAX)
There are 4 members of the management team with an average tenure of 20.35 years: James Davolos (2006), Steven Tuen (2003), Peter Doyle (1999), Steven Bregman (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) index with a weighting of 100% and MSCI ACWI NR USD index with a weighting of 100%. Kinetics Global Adv A has 91 securities in its portfolio. The top 10 holdings constitute 69.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Kinetics Global Adv A is part of the Allocation global asset class and is within the Allocation fund group. Kinetics Global Adv A has 26.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.4%. There is 26.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Kinetics Global Adv A has 7.3% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $328 million average for the Global Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
KGLAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Kinetics Global Adv A expense ratio is high compared to funds in the Global Aggressive Allocation category. Kinetics Global Adv A has an expense ratio of 1.64%, which is 60% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Kinetics Global Adv A has a portfolio turnover rate of 5%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 30% for the Global Aggressive Allocation category.
Recently, in the month of July 2026, Kinetics Global Adv A returned 0.4%, which earned it a grade of A, as the Global Aggressive Allocation category had an average return of -0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Kinetics Global Adv A has a trailing yield of 1.48%, which is above the 1.37% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Kinetics Global Adv A Grades
Year to date, the fund has returned 4.7%, 5.8 percentage points worse than the category, which translates into a grade of F. The fund has returned -0.6% over the past year (grade of F), 27.8% over the past three years (grade of A) and 13.0% per year over the past five years (grade of A) and 15.0% per year over the past 10 years (grade of A).
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KGLAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| KGLAX Return (NAV) | 0.4% | -4.9% | -0.6% | 27.8% | 13.0% | 15.0% |
| KGLAX Grade | A | F | F | A | A | A |
| +/- Category | 1.3% | -8.0% | -20.2% | 12.1% | 4.8% | 4.2% |
| Global Aggressive Allocation Avg | -0.9% | 3.2% | 19.6% | 15.7% | 8.2% | 10.8% |
| KGLAX Tax Cost Ratio | na | na | 0.8% | 0.7% | 0.7% | 0.6% |
KGLAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KGLAX Return (NAV) | 4.7% | 2.6% | 71.7% | 11.8% | -6.8% | 16.2% | 24.7% | 21.1% | -23.7% | 50.3% | 14.0% |
| KGLAX Grade | F | F | A | F | A | D | A | F | F | A | A |
| +/- Category | -5.8% | -15.8% | 57.0% | -6.8% | 12.0% | -0.6% | 6.7% | -4.4% | -13.4% | 27.0% | 6.9% |
| Global Aggressive Allocation Avg | 10.5% | 18.4% | 14.7% | 18.6% | -18.8% | 16.8% | 18.0% | 25.5% | -10.3% | 23.3% | 7.2% |
| Risk Measures | |
| Standard Deviation: | 22.4% |
| Total Risk Index: | 1.82 - High |
| Category Risk Index: | 1.77 - High |
| Category Risk Grade: | F (106% Rank) |
| Beta: | 0.85 |
| R-Squared: | 13% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 1.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $50 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 5% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 27.3 years | |||
| Average Tenure: 20.4 years | |||
| Managers (Year): Doyle Peter (1999), Tuen Steven (2003), Davolos James (2006), Bregman Steven (2015) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 91 |
| % in Top 10 Holdings: | 69.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.6% |
Portfolio Allocation |
|
| Domestic Stock: | 49.4% |
| Foreign Stock: | 26.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 16.7% |
| Cash: | 7.3% |
Purchase Information
| Fund Family: | Kinetics |
| Phone Number: | 800-930-3828 |
| Website: | www.kineticsfunds.com |
| Status: | Open |
| Inception Date: | May 19, 2008 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.64% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Kinetics Global No Load |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
