ICF vs. ICFI

Last updated Jun 6, 2026

ICF (iShares Cohen & Steers REIT ETF) is REIT fund tracking the Cohen & Steers Realty Majors Index, while ICFI (ICF International, Inc.) is a stock. Over the past 10 years, ICF returned 5.86%/yr vs 5.84%/yr for ICFI. At a 0.32 correlation, their price movements are largely independent.

Performance

ICF vs. ICFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cohen & Steers REIT ETF (ICF) and ICF International, Inc. (ICFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICF achieves a 15.27% return, which is significantly higher than ICFI's -17.74% return. Both investments have delivered pretty close results over the past 10 years, with ICF having a 5.86% annualized return and ICFI not far behind at 5.84%.

ICF

• 1D: 0.73%
• 1M: 0.47%
• YTD: 15.27%
• 6M: 14.79%
• 1Y: 14.27%
• 3Y*: 11.11%
• 5Y*: 3.56%
• 10Y*: 5.86%

ICFI

• 1D: 1.78%
• 1M: -4.83%
• YTD: -17.74%
• 6M: -17.50%
• 1Y: -14.67%
• 3Y*: -15.85%
• 5Y*: -4.53%
• 10Y*: 5.84%

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

ICF vs. ICFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICF iShares Cohen & Steers REIT ETF	15.27%	1.85%	5.30%	10.36%	-26.12%	44.17%	-5.43%	25.48%	-2.55%	4.90%
ICFI ICF International, Inc.	-17.74%	-27.98%	-10.76%	35.99%	-2.87%	38.79%	-18.20%	42.44%	24.39%	-4.89%

Correlation

The correlation between ICF and ICFI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Sep 29, 2006	0.32

The correlation between ICF and ICFI shifts across timeframes, from 0.19 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ICF vs. ICFI — Risk / Return Rank

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

ICF

ICF Risk / Return Rank: 32
ICF Sharpe Ratio Rank: 30
ICF Sortino Ratio Rank: 28
ICF Omega Ratio Rank: 29
ICF Calmar Ratio Rank: 37
ICF Martin Ratio Rank: 34

ICFI

ICFI Risk / Return Rank: 25
ICFI Sharpe Ratio Rank: 23
ICFI Sortino Ratio Rank: 23
ICFI Omega Ratio Rank: 23
ICFI Calmar Ratio Rank: 30
ICFI Martin Ratio Rank: 27

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.

ICF vs. ICFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) and ICF International, Inc. (ICFI). 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.

	ICF	ICFI	Difference
Sharpe ratio: Return per unit of total volatility	1.04	-0.42	+1.46
Sortino ratio: Return per unit of downside risk	1.47	-0.37	+1.84
Omega ratio: Gain probability vs. loss probability	1.19	0.95	+0.23
Calmar ratio: Return relative to maximum drawdown	1.75	-0.37	+2.11
Martin ratio: Return relative to average drawdown	4.96	-0.76	+5.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICF vs. ICFI - Sharpe Ratio Comparison

The current ICF Sharpe Ratio is 1.04, which is higher than the ICFI Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of ICF and ICFI, 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

	ICF	ICFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	-0.42	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	-0.15	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.18	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.28	+0.04

Drawdowns

ICF vs. ICFI - Drawdown Comparison

The maximum ICF drawdown since its inception was -76.74%, which is greater than ICFI's maximum drawdown of -65.65%. Use the drawdown chart below to compare losses from any high point for ICF and ICFI.

Drawdown Indicators

	ICF	ICFI	Difference
Max Drawdown Largest peak-to-trough decline	-76.74%	-65.65%	-11.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-40.22%	+32.02%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-65.65%	+48.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.74%	-65.65%	+30.91%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	-65.65%	+25.43%
Current Drawdown Current decline from peak	0.00%	-59.84%	+59.84%
Average Drawdown Average peak-to-trough decline	-14.18%	-18.68%	+4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	19.25%	-16.37%

Volatility

ICF vs. ICFI - Volatility Comparison

The current volatility for iShares Cohen & Steers REIT ETF (ICF) is 4.13%, while ICF International, Inc. (ICFI) has a volatility of 14.65%. This indicates that ICF experiences smaller price fluctuations and is considered to be less risky than ICFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICF	ICFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	14.65%	-10.52%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	28.87%	-18.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	35.15%	-21.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	30.93%	-12.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	31.72%	-11.13%

Dividends

ICF vs. ICFI - Dividend Comparison

ICF's dividend yield for the trailing twelve months is around 2.41%, more than ICFI's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICF iShares Cohen & Steers REIT ETF	2.41%	2.88%	2.66%	2.76%	2.64%	1.82%	2.38%	2.55%	3.20%	3.10%	4.21%	3.30%
ICFI ICF International, Inc.	1.00%	0.66%	0.47%	0.42%	0.57%	0.55%	0.75%	0.61%	0.86%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICF and ICFI in my portfolio?

ICF and ICFI have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICF or ICFI?

ICFI has higher volatility (14.65%) compared to ICF (4.13%). In terms of maximum drawdown, ICF dropped -76.74% vs ICFI's -65.65%.

Which has better risk-adjusted returns?

ICF currently has the higher Sharpe Ratio (1.04 vs -0.42), 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.