ICPAX vs. VMTTX
ICPAX (Integrity Mid-North American Resources Fund) and VMTTX (Viking Tax-Free Fund For Montana) are both mutual funds - ICPAX is a Energy Equities fund managed by IntegrityVikingFunds, while VMTTX is a Municipal Bonds fund managed by IntegrityVikingFunds. Over the past 10 years, ICPAX returned 7.16%/yr vs 1.11%/yr for VMTTX. At a correlation of -0.10, they often move in opposite directions. ICPAX charges 1.50%/yr vs 0.98%/yr for VMTTX.
Performance
ICPAX vs. VMTTX - Performance Comparison
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Returns By Period
In the year-to-date period, ICPAX achieves a 26.13% return, which is significantly higher than VMTTX's 1.75% return. Over the past 10 years, ICPAX has outperformed VMTTX with an annualized return of 7.16%, while VMTTX has yielded a comparatively lower 1.11% annualized return.
ICPAX
- 1D
- 1.99%
- 1M
- -4.61%
- YTD
- 26.13%
- 6M
- 25.04%
- 1Y
- 39.45%
- 3Y*
- 24.54%
- 5Y*
- 17.68%
- 10Y*
- 7.16%
VMTTX
- 1D
- 0.00%
- 1M
- 1.15%
- YTD
- 1.75%
- 6M
- 2.02%
- 1Y
- 6.92%
- 3Y*
- 2.65%
- 5Y*
- 0.19%
- 10Y*
- 1.11%
ICPAX vs. VMTTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICPAX Integrity Mid-North American Resources Fund | 26.13% | 18.11% | 17.52% | -1.37% | 29.10% | 32.79% | -24.34% | 14.25% | -30.97% | -7.51% |
VMTTX Viking Tax-Free Fund For Montana | 1.75% | 3.71% | -0.16% | 4.24% | -8.52% | 0.28% | 4.04% | 5.59% | 0.53% | 4.00% |
Correlation
The correlation between ICPAX and VMTTX is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 1999 | -0.10 |
The correlation between ICPAX and VMTTX shifts across timeframes, from -0.11 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICPAX vs. VMTTX — Risk / Return Rank
ICPAX
VMTTX
ICPAX vs. VMTTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Integrity Mid-North American Resources Fund (ICPAX) and Viking Tax-Free Fund For Montana (VMTTX). 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 | VMTTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 2.11 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 3.06 | +2.01 |
| Martin ratioReturn relative to average drawdown | 15.07 | 12.51 | +2.56 |
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Drawdowns
ICPAX vs. VMTTX - Drawdown Comparison
The maximum ICPAX drawdown since its inception was -77.39%, which is greater than VMTTX's maximum drawdown of -13.11%. Use the drawdown chart below to compare losses from any high point for ICPAX and VMTTX.
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Drawdown Indicators
| ICPAX | VMTTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.39% | -13.11% | -64.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -2.27% | -5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -22.60% | -5.55% | -17.05% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -13.11% | -13.07% |
Max Drawdown (10Y)Largest decline over 10 years | -71.43% | -13.11% | -58.32% |
Current DrawdownCurrent decline from peak | -5.54% | -0.07% | -5.47% |
Average DrawdownAverage peak-to-trough decline | -30.58% | -2.48% | -28.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 0.55% | +1.93% |
Volatility
ICPAX vs. VMTTX - Volatility Comparison
Integrity Mid-North American Resources Fund (ICPAX) has a higher volatility of 5.62% compared to Viking Tax-Free Fund For Montana (VMTTX) at 0.64%. This indicates that ICPAX's price experiences larger fluctuations and is considered to be riskier than VMTTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICPAX | VMTTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 0.64% | +4.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 1.63% | +11.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.21% | 2.18% | +15.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.34% | 3.84% | +21.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.77% | 3.66% | +25.11% |
ICPAX vs. VMTTX - Expense Ratio Comparison
ICPAX has a 1.50% expense ratio, which is higher than VMTTX's 0.98% expense ratio.
Dividends
ICPAX vs. VMTTX - Dividend Comparison
ICPAX's dividend yield for the trailing twelve months is around 0.39%, less than VMTTX's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICPAX Integrity Mid-North American Resources Fund | 0.39% | 0.60% | 1.07% | 1.50% | 1.24% | 1.26% | 1.95% | 1.56% | 0.60% | 0.08% | 0.17% | 0.72% |
VMTTX Viking Tax-Free Fund For Montana | 2.98% | 2.93% | 2.81% | 2.47% | 2.06% | 1.55% | 1.89% | 2.63% | 2.52% | 2.61% | 2.77% | 2.62% |
Frequently Asked Questions
ICPAX and VMTTX have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICPAX has higher volatility (5.62%) compared to VMTTX (0.64%). In terms of maximum drawdown, ICPAX dropped -77.39% vs VMTTX's -13.11%.
VMTTX currently has the higher Sharpe Ratio (3.19 vs 2.18), 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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