ICPAX vs. KSMUX
ICPAX (Integrity Mid-North American Resources Fund) and KSMUX (Kansas Municipal Fund) are both mutual funds - ICPAX is a Energy Equities fund managed by IntegrityVikingFunds, while KSMUX is a Municipal Bonds fund managed by IntegrityVikingFunds. Over the past 10 years, ICPAX returned 7.46%/yr vs 0.88%/yr for KSMUX. Their -0.08 correlation means they have often moved in opposite directions in the past. ICPAX charges 1.50%/yr vs 0.98%/yr for KSMUX.
Performance
ICPAX vs. KSMUX - Performance Comparison
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Returns By Period
In the year-to-date period, ICPAX achieves a 26.56% return, which is significantly higher than KSMUX's 0.68% return. Over the past 10 years, ICPAX has outperformed KSMUX with an annualized return of 7.46%, while KSMUX has yielded a comparatively lower 0.88% annualized return.
ICPAX
- 1D
- 1.87%
- 1M
- 2.22%
- 6M
- 14.45%
- YTD
- 26.56%
- 1Y
- 36.78%
- 3Y*
- 19.09%
- 5Y*
- 19.78%
- 10Y*
- 7.46%
- ALL TIME*
- 5.89%
KSMUX
- 1D
- -0.42%
- 1M
- -2.17%
- 6M
- -0.22%
- YTD
- 0.68%
- 1Y
- 5.70%
- 3Y*
- 1.95%
- 5Y*
- -0.60%
- 10Y*
- 0.88%
- ALL TIME*
- 1.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ICPAX vs. KSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICPAX Integrity Mid-North American Resources Fund | 26.56% | 18.11% | 17.52% | -1.37% | 29.10% | 32.79% | -24.34% | 14.25% | -30.97% | -7.51% |
KSMUX Kansas Municipal Fund | 0.68% | 3.35% | -1.06% | 4.53% | -9.55% | 0.19% | 4.69% | 5.59% | 0.79% | 3.65% |
Correlation
The correlation between ICPAX and KSMUX is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 1999 | -0.08 |
The correlation between ICPAX and KSMUX shifts across timeframes, from -0.18 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICPAX vs. KSMUX — Risk / Return Rank
ICPAX
KSMUX
ICPAX vs. KSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Integrity Mid-North American Resources Fund (ICPAX) and Kansas Municipal Fund (KSMUX). 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.
| ICPAX | KSMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.61 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 2.47 | +2.28 |
| Martin ratioReturn relative to average drawdown | 11.89 | 9.32 | +2.57 |
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Drawdowns
ICPAX vs. KSMUX - Drawdown Comparison
The maximum ICPAX drawdown since its inception was -77.39%, which is greater than KSMUX's maximum drawdown of -14.61%. Use the drawdown chart below to compare losses from any high point for ICPAX and KSMUX.
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Drawdown Indicators
| ICPAX | KSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.39% | -14.61% | -62.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -2.67% | -4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -22.60% | -6.98% | -15.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -13.92% | -12.26% |
Max Drawdown (10Y)Largest decline over 10 years | -71.43% | -13.96% | -57.47% |
Current DrawdownCurrent decline from peak | -5.21% | -3.02% | -2.19% |
Average DrawdownAverage peak-to-trough decline | -30.48% | -2.97% | -27.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 0.71% | +2.23% |
Volatility
ICPAX vs. KSMUX - Volatility Comparison
Integrity Mid-North American Resources Fund (ICPAX) has a higher volatility of 5.88% compared to Kansas Municipal Fund (KSMUX) at 1.01%. This indicates that ICPAX's price experiences larger fluctuations and is considered to be riskier than KSMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICPAX | KSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 1.01% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.35% | 2.30% | +11.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.53% | 2.87% | +14.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.19% | 4.27% | +20.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.64% | 3.97% | +24.67% |
ICPAX vs. KSMUX - Expense Ratio Comparison
ICPAX has a 1.50% expense ratio, which is higher than KSMUX's 0.98% expense ratio.
Dividends
ICPAX vs. KSMUX - Dividend Comparison
ICPAX's dividend yield for the trailing twelve months is around 0.22%, less than KSMUX's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPAX Integrity Mid-North American Resources Fund | 0.22% | 0.60% | 1.07% | 1.50% | 1.24% | 1.26% | 1.95% | 1.56% | 0.60% | 0.08% | 0.17% | 0.72% |
KSMUX Kansas Municipal Fund | 3.00% | 3.13% | 2.76% | 2.33% | 2.00% | 1.64% | 1.83% | 2.70% | 2.75% | 2.93% | 2.88% | 2.57% |
Frequently Asked Questions
ICPAX and KSMUX have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICPAX has higher volatility (5.88%) compared to KSMUX (1.01%). In terms of maximum drawdown, ICPAX dropped -77.39% vs KSMUX's -14.61%.
KSMUX currently has the higher Sharpe Ratio (2.30 vs 2.00), 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.
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