ICSIX vs. AXVIX

Last updated Jun 24, 2026

ICSIX (Dynamic U.S. Opportunity Fund) and AXVIX (Acclivity Small Cap Value Fund) are both mutual funds - ICSIX is a Tactical Allocation fund managed by Innealta Capital, while AXVIX is a Small Cap Value Equities fund managed by Innealta Capital. Over the past 5 years, ICSIX returned 8.63%/yr vs 9.68%/yr for AXVIX. A 0.77 correlation means they provide meaningful diversification when combined. ICSIX charges 1.24%/yr vs 3.64%/yr for AXVIX.

Performance

ICSIX vs. AXVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dynamic U.S. Opportunity Fund (ICSIX) and Acclivity Small Cap Value Fund (AXVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICSIX achieves a 5.68% return, which is significantly lower than AXVIX's 14.95% return.

ICSIX

• 1D: -0.20%
• 1M: 0.14%
• YTD: 5.68%
• 6M: 4.85%
• 1Y: 16.78%
• 3Y*: 12.67%
• 5Y*: 8.63%
• 10Y*: 11.27%

AXVIX

• 1D: 0.14%
• 1M: 2.89%
• YTD: 14.95%
• 6M: 13.37%
• 1Y: 30.18%
• 3Y*: 15.21%
• 5Y*: 9.68%
• 10Y*: —

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

ICSIX vs. AXVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ICSIX Dynamic U.S. Opportunity Fund	5.68%	16.41%	8.16%	16.05%	-7.52%	16.14%	18.73%	22.44%
AXVIX Acclivity Small Cap Value Fund	14.95%	5.14%	5.67%	22.62%	-4.41%	38.61%	7.52%	10.90%

Correlation

The correlation between ICSIX and AXVIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 8, 2019	0.77

The correlation between ICSIX and AXVIX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

ICSIX vs. AXVIX — Risk / Return Rank

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

ICSIX

ICSIX Risk / Return Rank: 45
ICSIX Sharpe Ratio Rank: 40
ICSIX Sortino Ratio Rank: 37
ICSIX Omega Ratio Rank: 38
ICSIX Calmar Ratio Rank: 53
ICSIX Martin Ratio Rank: 58

AXVIX

AXVIX Risk / Return Rank: 58
AXVIX Sharpe Ratio Rank: 49
AXVIX Sortino Ratio Rank: 52
AXVIX Omega Ratio Rank: 46
AXVIX Calmar Ratio Rank: 84
AXVIX Martin Ratio Rank: 58

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.

ICSIX vs. AXVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic U.S. Opportunity Fund (ICSIX) and Acclivity Small Cap Value Fund (AXVIX). 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.

	ICSIX	AXVIX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.89	-0.19
Sortino ratio: Return per unit of downside risk	2.36	2.79	-0.43
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.68	3.70	-1.02
Martin ratio: Return relative to average drawdown	10.98	10.89	+0.09

ICSIX vs. AXVIX - Sharpe Ratio Comparison

The current ICSIX Sharpe Ratio is 1.70, which is comparable to the AXVIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of ICSIX and AXVIX, 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

ICSIX vs. AXVIX - Drawdown Comparison

The maximum ICSIX drawdown since its inception was -25.63%, smaller than the maximum AXVIX drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for ICSIX and AXVIX.

Drawdown Indicators

	ICSIX	AXVIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-48.08%	+22.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-8.48%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	-24.90%	-30.24%	+5.34%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-30.24%	+5.34%
Max Drawdown (10Y) Largest decline over 10 years	-25.63%	—	—
Current Drawdown Current decline from peak	-1.08%	-1.20%	+0.12%
Average Drawdown Average peak-to-trough decline	-3.23%	-7.97%	+4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	2.88%	-1.24%

Volatility

ICSIX vs. AXVIX - Volatility Comparison

Dynamic U.S. Opportunity Fund (ICSIX) and Acclivity Small Cap Value Fund (AXVIX) have volatilities of 3.73% and 3.75%, 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

	ICSIX	AXVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.75%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	10.68%	-2.78%
Volatility (1Y) Calculated over the trailing 1-year period	10.62%	16.65%	-6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	21.64%	-5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	26.75%	-11.09%

ICSIX vs. AXVIX - Expense Ratio Comparison

ICSIX has a 1.24% expense ratio, which is lower than AXVIX's 3.64% expense ratio.

Dividends

ICSIX vs. AXVIX - Dividend Comparison

ICSIX's dividend yield for the trailing twelve months is around 18.11%, more than AXVIX's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXVIX Acclivity Small Cap Value Fund	3.74%	4.30%	7.18%	1.00%	4.41%	2.43%	2.02%	0.70%	0.00%	0.00%	0.00%	0.00%
ICSIX Dynamic U.S. Opportunity Fund	18.11%	19.13%	19.10%	0.97%	2.55%	5.47%	5.78%	0.49%	12.55%	2.50%	4.76%	2.22%

Frequently Asked Questions

Can I hold both ICSIX and AXVIX in my portfolio?

ICSIX and AXVIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICSIX or AXVIX?

AXVIX has higher volatility (3.75%) compared to ICSIX (3.73%). In terms of maximum drawdown, ICSIX dropped -25.63% vs AXVIX's -48.08%.

Which has better risk-adjusted returns?

AXVIX currently has the higher Sharpe Ratio (1.89 vs 1.70), 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.