ICAP vs. VGT

Last updated Jun 3, 2026

ICAP (InfraCap Equity Income Fund ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - ICAP is a fund fund actively managed by InfraCap, while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. ICAP is actively managed, while VGT is passively managed. Over the past 3 years, ICAP returned 18.75%/yr vs 34.15%/yr for VGT. A 0.53 correlation means they provide meaningful diversification when combined. ICAP charges 0.80%/yr vs 0.09%/yr for VGT.

Performance

ICAP vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap Equity Income Fund ETF (ICAP) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICAP achieves a 9.02% return, which is significantly lower than VGT's 33.62% return.

ICAP

• 1D: 1.43%
• 1M: 2.34%
• YTD: 9.02%
• 6M: 11.00%
• 1Y: 28.65%
• 3Y*: 18.75%
• 5Y*: —
• 10Y*: —

VGT

• 1D: 1.27%
• 1M: 19.95%
• YTD: 33.62%
• 6M: 32.71%
• 1Y: 65.14%
• 3Y*: 34.15%
• 5Y*: 23.05%
• 10Y*: 25.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ICAP vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ICAP InfraCap Equity Income Fund ETF	9.02%	15.77%	14.83%	8.82%	-10.10%	0.57%
VGT Vanguard Information Technology ETF	33.62%	21.77%	29.30%	52.66%	-29.70%	-1.02%

Correlation

The correlation between ICAP and VGT is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 30, 2021	0.53

The correlation between ICAP and VGT has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.

ICAP vs. VGT - Sectors Allocation Comparison

Sectors	ICAP	VGT
Financial Services	27.7%	0.5%
Consumer Cyclical	12.7%	0.1%
Utilities	10.7%	-
Consumer Defensive	9.6%	-
Real Estate	8.3%	-
Energy	7.1%	0.3%
Technology	6.9%	98.5%
Industrials	5.4%	0.4%
Communication Services	4.9%	0.5%
Basic Materials	4.0%	0.0%
Healthcare	2.7%	0.0%

Return for Risk

ICAP vs. VGT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICAP

ICAP Risk / Return Rank: 61
ICAP Sharpe Ratio Rank: 66
ICAP Sortino Ratio Rank: 66
ICAP Omega Ratio Rank: 62
ICAP Calmar Ratio Rank: 55
ICAP Martin Ratio Rank: 59

VGT

VGT Risk / Return Rank: 81
VGT Sharpe Ratio Rank: 91
VGT Sortino Ratio Rank: 86
VGT Omega Ratio Rank: 83
VGT Calmar Ratio Rank: 78
VGT Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICAP vs. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap Equity Income Fund ETF (ICAP) and Vanguard Information Technology ETF (VGT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ICAP	VGT	Difference
Sharpe ratio Return per unit of total volatility	2.22	3.19	-0.98
Sortino ratio Return per unit of downside risk	3.05	3.88	-0.82
Omega ratio Gain probability vs. loss probability	1.38	1.51	-0.13
Calmar ratio Return relative to maximum drawdown	2.78	4.06	-1.28
Martin ratio Return relative to average drawdown	10.71	13.01	-2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICAP vs. VGT - Sharpe Ratio Comparison

The current ICAP Sharpe Ratio is 2.22, which is lower than the VGT Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of ICAP and VGT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ICAP	VGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	3.19	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.68	-0.22

Drawdowns

ICAP vs. VGT - Drawdown Comparison

The maximum ICAP drawdown since its inception was -24.20%, smaller than the maximum VGT drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for ICAP and VGT.

Drawdown Indicators

	ICAP	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-24.20%	-54.63%	+30.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-16.40%	+5.74%
Max Drawdown (3Y) Largest decline over 3 years	-20.31%	-27.23%	+6.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.07%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.82%	-7.95%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	5.12%	-2.35%

Volatility

ICAP vs. VGT - Volatility Comparison

The current volatility for InfraCap Equity Income Fund ETF (ICAP) is 3.26%, while Vanguard Information Technology ETF (VGT) has a volatility of 5.98%. This indicates that ICAP experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICAP	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	5.98%	-2.72%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	15.98%	-6.18%
Volatility (1Y) Calculated over the trailing 1-year period	13.01%	20.52%	-7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	25.17%	-7.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	24.60%	-6.43%

ICAP vs. VGT - Expense Ratio Comparison

ICAP has a 0.80% expense ratio, which is higher than VGT's 0.09% expense ratio.

Dividends

ICAP vs. VGT - Dividend Comparison

ICAP's dividend yield for the trailing twelve months is around 9.38%, more than VGT's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICAP InfraCap Equity Income Fund ETF	9.38%	8.89%	8.30%	8.65%	8.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGT Vanguard Information Technology ETF	0.30%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both ICAP and VGT in my portfolio?

ICAP and VGT have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICAP or VGT?

VGT has higher volatility (5.98%) compared to ICAP (3.26%). In terms of maximum drawdown, ICAP dropped -24.20% vs VGT's -54.63%.

Which ETF is better, ICAP or VGT?

On 3-year performance, VGT leads with 34.15% vs 18.75% for ICAP. On fees, VGT is cheaper at 0.09% per year. On volatility, ICAP has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICAP or VGT?

Over the 3-year period, VGT has performed better with a 34.15% return vs 18.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICAP or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.80% for ICAP.

Which ETF pays a higher dividend yield, ICAP or VGT?

ICAP has the higher dividend yield at 9.38%, compared with 0.30% for VGT.

What is the main difference between ICAP and VGT?

They also come from different issuers: InfraCap and Vanguard. Their fees differ too: 0.80% for ICAP and 0.09% for VGT.

Which has better risk-adjusted returns?

VGT currently has the higher Sharpe Ratio (3.19 vs 2.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.