ICBMX vs. FNILX

Last updated Aug 1, 2026

ICBMX (ICON Natural Resources and Infrastructure Fund) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - ICBMX is a Infrastructure Equities fund managed by ICON Funds, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, ICBMX returned 15.29%/yr vs 12.36%/yr for FNILX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. ICBMX charges 1.31%/yr vs 0.00%/yr for FNILX.

Performance

ICBMX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Natural Resources and Infrastructure Fund (ICBMX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICBMX achieves a 20.52% return, which is significantly higher than FNILX's 9.06% return.

ICBMX

• 1D: 1.07%
• 1M: 2.59%
• 6M: 10.05%
• YTD: 20.52%
• 1Y: 39.58%
• 3Y*: 18.52%
• 5Y*: 15.29%
• 10Y*: 12.95%
• ALL TIME*: 7.00%

FNILX

• 1D: 1.68%
• 1M: -0.67%
• 6M: 7.78%
• YTD: 9.06%
• 1Y: 20.09%
• 3Y*: 19.19%
• 5Y*: 12.36%
• 10Y*: —
• ALL TIME*: 14.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNILX Fidelity ZERO Large Cap Index Fund	$0.00	$0.00	$0.00
ICBMX ICON Natural Resources and Infrastructure Fund	$0.00	$0.00	$0.00

ICBMX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ICBMX ICON Natural Resources and Infrastructure Fund	20.52%	15.95%	21.25%	11.02%	0.50%	30.63%	5.53%	22.11%	-19.89%
FNILX Fidelity ZERO Large Cap Index Fund	9.06%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

The correlation between ICBMX and FNILX is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.70

The correlation between ICBMX and FNILX shifts across timeframes, from 0.60 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ICBMX vs. FNILX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ICBMX

ICBMX Risk / Return Rank: 80
ICBMX Sharpe Ratio Rank: 75
ICBMX Sortino Ratio Rank: 76
ICBMX Omega Ratio Rank: 69
ICBMX Calmar Ratio Rank: 90
ICBMX Martin Ratio Rank: 89

FNILX

FNILX Risk / Return Rank: 59
FNILX Sharpe Ratio Rank: 56
FNILX Sortino Ratio Rank: 53
FNILX Omega Ratio Rank: 53
FNILX Calmar Ratio Rank: 61
FNILX Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ICBMX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Natural Resources and Infrastructure Fund (ICBMX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ICBMX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.37	+0.41
Sortino ratio: Return per unit of downside risk	2.63	1.92	+0.71
Omega ratio: Gain probability vs. loss probability	1.31	1.25	+0.06
Calmar ratio: Return relative to maximum drawdown	3.48	1.98	+1.51
Martin ratio: Return relative to average drawdown	12.12	8.30	+3.82

ICBMX vs. FNILX - Sharpe Ratio Comparison

The current ICBMX Sharpe Ratio is 1.78, which is comparable to the FNILX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of ICBMX and FNILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ICBMX vs. FNILX - Drawdown Comparison

The maximum ICBMX drawdown since its inception was -63.92%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for ICBMX and FNILX.

Drawdown Indicators

	ICBMX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-63.92%	-33.76%	-30.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-9.01%	-1.09%
Max Drawdown (3Y) Largest decline over 3 years	-26.49%	-19.08%	-7.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	-25.40%	-1.09%
Max Drawdown (10Y) Largest decline over 10 years	-48.18%	—	—
Current Drawdown Current decline from peak	-1.49%	-2.24%	+0.75%
Average Drawdown Average peak-to-trough decline	-17.79%	-5.30%	-12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.14%	+0.77%

Volatility

ICBMX vs. FNILX - Volatility Comparison

ICON Natural Resources and Infrastructure Fund (ICBMX) and Fidelity ZERO Large Cap Index Fund (FNILX) have volatilities of 3.59% and 3.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICBMX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.46%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	10.17%	+2.81%
Volatility (1Y) Calculated over the trailing 1-year period	19.84%	12.97%	+6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	17.37%	+3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.24%	19.95%	+2.29%

ICBMX vs. FNILX - Expense Ratio Comparison

ICBMX has a 1.31% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

ICBMX vs. FNILX - Dividend Comparison

ICBMX's dividend yield for the trailing twelve months is around 8.30%, more than FNILX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNILX Fidelity ZERO Large Cap Index Fund	0.93%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%	0.00%	0.00%	0.00%
ICBMX ICON Natural Resources and Infrastructure Fund	8.30%	10.01%	17.24%	7.07%	11.07%	1.32%	0.32%	1.55%	21.58%	1.19%	0.53%	7.78%

Frequently Asked Questions

Can I hold both ICBMX and FNILX in my portfolio?

ICBMX and FNILX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICBMX or FNILX?

ICBMX has higher volatility (3.59%) compared to FNILX (3.46%). In terms of maximum drawdown, ICBMX dropped -63.92% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

ICBMX currently has the higher Sharpe Ratio (1.78 vs 1.37), 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.