ICAP vs. WEEI

Last updated Jun 4, 2026

ICAP (InfraCap Equity Income Fund ETF) and WEEI (Westwood Salient Enhanced Energy Income ETF) are both exchange-traded funds - ICAP is a fund fund actively managed by InfraCap, while WEEI is a Energy Equities fund actively managed by Westwood. Both are actively managed. Over the past year, ICAP returned 25.61% vs 34.24% for WEEI. At a 0.34 correlation, their price movements are largely independent. ICAP charges 0.80%/yr vs 0.85%/yr for WEEI.

Performance

ICAP vs. WEEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap Equity Income Fund ETF (ICAP) and Westwood Salient Enhanced Energy Income ETF (WEEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICAP achieves a 7.55% return, which is significantly lower than WEEI's 18.85% return.

ICAP

• 1D: -1.34%
• 1M: 1.75%
• YTD: 7.55%
• 6M: 7.96%
• 1Y: 25.61%
• 3Y*: 18.21%
• 5Y*: —
• 10Y*: —

WEEI

• 1D: 0.67%
• 1M: 0.42%
• YTD: 18.85%
• 6M: 18.31%
• 1Y: 34.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICAP vs. WEEI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ICAP InfraCap Equity Income Fund ETF	7.55%	15.77%	14.76%
WEEI Westwood Salient Enhanced Energy Income ETF	18.85%	11.28%	-3.07%

Correlation

The correlation between ICAP and WEEI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.34

The correlation between ICAP and WEEI shifts across timeframes, from 0.16 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

ICAP vs. WEEI - Sectors Allocation Comparison

Sectors	ICAP	WEEI
Financial Services	27.7%	-
Consumer Cyclical	12.7%	-
Utilities	10.7%	-
Consumer Defensive	9.6%	-
Real Estate	8.3%	-
Energy	7.1%	100.0%
Technology	6.9%	-
Industrials	5.4%	-
Communication Services	4.9%	-
Basic Materials	4.0%	-
Healthcare	2.7%	-

Return for Risk

ICAP vs. WEEI — Risk / Return Rank

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

ICAP

ICAP Risk / Return Rank: 54
ICAP Sharpe Ratio Rank: 58
ICAP Sortino Ratio Rank: 57
ICAP Omega Ratio Rank: 55
ICAP Calmar Ratio Rank: 49
ICAP Martin Ratio Rank: 54

WEEI

WEEI Risk / Return Rank: 74
WEEI Sharpe Ratio Rank: 75
WEEI Sortino Ratio Rank: 69
WEEI Omega Ratio Rank: 70
WEEI Calmar Ratio Rank: 83
WEEI Martin Ratio Rank: 75

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. WEEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap Equity Income Fund ETF (ICAP) and Westwood Salient Enhanced Energy Income ETF (WEEI). 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	WEEI	Difference
Sharpe ratio Return per unit of total volatility	1.97	2.46	-0.49
Sortino ratio Return per unit of downside risk	2.74	3.15	-0.41
Omega ratio Gain probability vs. loss probability	1.34	1.42	-0.08
Calmar ratio Return relative to maximum drawdown	2.41	4.48	-2.07
Martin ratio Return relative to average drawdown	9.27	14.29	-5.02
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. WEEI - Sharpe Ratio Comparison

The current ICAP Sharpe Ratio is 1.97, which is comparable to the WEEI Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of ICAP and WEEI, 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	WEEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.46	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.70	-0.25

Drawdowns

ICAP vs. WEEI - Drawdown Comparison

The maximum ICAP drawdown since its inception was -24.20%, which is greater than WEEI's maximum drawdown of -18.78%. Use the drawdown chart below to compare losses from any high point for ICAP and WEEI.

Drawdown Indicators

	ICAP	WEEI	Difference
Max Drawdown Largest peak-to-trough decline	-24.20%	-18.78%	-5.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-7.67%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.31%	—	—
Current Drawdown Current decline from peak	-1.34%	-2.75%	+1.41%
Average Drawdown Average peak-to-trough decline	-7.82%	-4.17%	-3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.41%	+0.36%

Volatility

ICAP vs. WEEI - Volatility Comparison

The current volatility for InfraCap Equity Income Fund ETF (ICAP) is 3.47%, while Westwood Salient Enhanced Energy Income ETF (WEEI) has a volatility of 6.21%. This indicates that ICAP experiences smaller price fluctuations and is considered to be less risky than WEEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICAP	WEEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	6.21%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	10.73%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	13.07%	13.97%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	18.30%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	18.30%	-0.13%

ICAP vs. WEEI - Expense Ratio Comparison

ICAP has a 0.80% expense ratio, which is lower than WEEI's 0.85% expense ratio.

Dividends

ICAP vs. WEEI - Dividend Comparison

ICAP's dividend yield for the trailing twelve months is around 9.50%, less than WEEI's 11.22% yield.

Position	TTM	2025	2024	2023	2022
ICAP InfraCap Equity Income Fund ETF	9.50%	8.89%	8.30%	8.65%	8.95%
WEEI Westwood Salient Enhanced Energy Income ETF	11.22%	12.59%	7.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICAP and WEEI in my portfolio?

ICAP and WEEI have a correlation of 0.16, 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 WEEI?

WEEI has higher volatility (6.21%) compared to ICAP (3.47%). In terms of maximum drawdown, ICAP dropped -24.20% vs WEEI's -18.78%.

Which ETF is better, ICAP or WEEI?

On 1-year performance, WEEI leads with 34.24% vs 25.61% for ICAP. On fees, ICAP is cheaper at 0.80% per year. On volatility, ICAP has been the lower-risk option at 3.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICAP or WEEI?

Over the 1-year period, WEEI has performed better with a 34.24% return vs 25.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICAP or WEEI?

ICAP is cheaper with a 0.80% expense ratio, compared with 0.85% for WEEI.

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

WEEI has the higher dividend yield at 11.22%, compared with 9.50% for ICAP.

What is the main difference between ICAP and WEEI?

They also come from different issuers: InfraCap and Westwood. Their fees differ too: 0.80% for ICAP and 0.85% for WEEI.

Which has better risk-adjusted returns?

WEEI currently has the higher Sharpe Ratio (2.46 vs 1.97), 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.