ICFSX vs. IOEZX

Last updated Jun 3, 2026

ICFSX (ICON Consumer Select Fund) and IOEZX (ICON Equity Income Fund) are both mutual funds - ICFSX is a Financials Equities fund managed by ICON Funds, while IOEZX is a Diversified Portfolio fund managed by ICON Funds. Over the past 10 years, ICFSX returned 10.03%/yr vs 8.46%/yr for IOEZX. Their correlation of 0.85 suggests significant overlap in exposure. ICFSX charges 1.32%/yr vs 1.00%/yr for IOEZX.

Performance

ICFSX vs. IOEZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Consumer Select Fund (ICFSX) and ICON Equity Income Fund (IOEZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICFSX achieves a -6.17% return, which is significantly lower than IOEZX's 12.81% return. Over the past 10 years, ICFSX has outperformed IOEZX with an annualized return of 10.03%, while IOEZX has yielded a comparatively lower 8.46% annualized return.

ICFSX

• 1D: -0.91%
• 1M: -4.20%
• YTD: -6.17%
• 6M: -2.91%
• 1Y: 1.09%
• 3Y*: 14.71%
• 5Y*: 8.00%
• 10Y*: 10.03%

IOEZX

• 1D: -1.19%
• 1M: -2.65%
• YTD: 12.81%
• 6M: 15.49%
• 1Y: 26.67%
• 3Y*: 12.46%
• 5Y*: 4.26%
• 10Y*: 8.46%

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

ICFSX vs. IOEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICFSX ICON Consumer Select Fund	-6.17%	5.96%	35.19%	18.16%	-10.30%	22.79%	-7.47%	36.93%	-18.04%	20.03%
IOEZX ICON Equity Income Fund	12.81%	14.29%	6.12%	3.82%	-13.56%	24.15%	3.16%	27.70%	-10.11%	13.59%

Correlation

The correlation between ICFSX and IOEZX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 4, 2004	0.85

The correlation between ICFSX and IOEZX shifts across timeframes, from 0.67 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ICFSX vs. IOEZX — Risk / Return Rank

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

ICFSX

ICFSX Risk / Return Rank: 3
ICFSX Sharpe Ratio Rank: 3
ICFSX Sortino Ratio Rank: 3
ICFSX Omega Ratio Rank: 3
ICFSX Calmar Ratio Rank: 3
ICFSX Martin Ratio Rank: 3

IOEZX

IOEZX Risk / Return Rank: 66
IOEZX Sharpe Ratio Rank: 56
IOEZX Sortino Ratio Rank: 60
IOEZX Omega Ratio Rank: 47
IOEZX Calmar Ratio Rank: 84
IOEZX Martin Ratio Rank: 80

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.

ICFSX vs. IOEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Consumer Select Fund (ICFSX) and ICON Equity Income Fund (IOEZX). 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.

	ICFSX	IOEZX	Difference
Sharpe ratio Return per unit of total volatility	0.08	2.22	-2.14
Sortino ratio Return per unit of downside risk	0.21	3.27	-3.06
Omega ratio Gain probability vs. loss probability	1.02	1.38	-0.35
Calmar ratio Return relative to maximum drawdown	0.10	3.93	-3.83
Martin ratio Return relative to average drawdown	0.29	15.05	-14.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICFSX vs. IOEZX - Sharpe Ratio Comparison

The current ICFSX Sharpe Ratio is 0.08, which is lower than the IOEZX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of ICFSX and IOEZX, 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

	ICFSX	IOEZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	2.22	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.31	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.52	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.40	-0.21

Drawdowns

ICFSX vs. IOEZX - Drawdown Comparison

The maximum ICFSX drawdown since its inception was -77.40%, which is greater than IOEZX's maximum drawdown of -56.15%. Use the drawdown chart below to compare losses from any high point for ICFSX and IOEZX.

Drawdown Indicators

	ICFSX	IOEZX	Difference
Max Drawdown Largest peak-to-trough decline	-77.40%	-56.15%	-21.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.67%	-6.77%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-20.61%	-13.95%	-6.66%
Max Drawdown (5Y) Largest decline over 5 years	-23.27%	-21.47%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-48.50%	-38.12%	-10.38%
Current Drawdown Current decline from peak	-9.21%	-3.07%	-6.14%
Average Drawdown Average peak-to-trough decline	-21.36%	-8.58%	-12.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	1.77%	+2.78%

Volatility

ICFSX vs. IOEZX - Volatility Comparison

ICON Consumer Select Fund (ICFSX) has a higher volatility of 3.77% compared to ICON Equity Income Fund (IOEZX) at 3.54%. This indicates that ICFSX's price experiences larger fluctuations and is considered to be riskier than IOEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICFSX	IOEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.54%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	8.81%	+1.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	12.05%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.44%	13.83%	+6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.77%	16.47%	+7.30%

ICFSX vs. IOEZX - Expense Ratio Comparison

ICFSX has a 1.32% expense ratio, which is higher than IOEZX's 1.00% expense ratio.

Dividends

ICFSX vs. IOEZX - Dividend Comparison

ICFSX's dividend yield for the trailing twelve months is around 11.99%, more than IOEZX's 3.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICFSX ICON Consumer Select Fund	11.99%	11.25%	34.59%	7.32%	17.71%	10.98%	0.00%	1.94%	0.75%	0.21%	0.97%	0.59%
IOEZX ICON Equity Income Fund	3.00%	3.56%	4.32%	3.75%	13.63%	12.92%	3.68%	4.74%	3.80%	3.13%	3.32%	4.24%

Frequently Asked Questions

Can I hold both ICFSX and IOEZX in my portfolio?

ICFSX and IOEZX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICFSX or IOEZX?

ICFSX has higher volatility (3.77%) compared to IOEZX (3.54%). In terms of maximum drawdown, ICFSX dropped -77.40% vs IOEZX's -56.15%.

Which has better risk-adjusted returns?

IOEZX currently has the higher Sharpe Ratio (2.22 vs 0.08), 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.