ICSIX vs. QMLFX

Last updated Jun 24, 2026

ICSIX (Dynamic U.S. Opportunity Fund) and QMLFX (Quantified Market Leaders Fund) are both Tactical Allocation funds. Over the past 10 years, ICSIX returned 11.27%/yr vs 11.00%/yr for QMLFX. A 0.79 correlation means they provide meaningful diversification when combined. ICSIX charges 1.24%/yr vs 1.30%/yr for QMLFX.

Performance

ICSIX vs. QMLFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dynamic U.S. Opportunity Fund (ICSIX) and Quantified Market Leaders Fund (QMLFX). 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 QMLFX's 21.38% return. Both investments have delivered pretty close results over the past 10 years, with ICSIX having a 11.27% annualized return and QMLFX not far behind at 11.00%.

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%

QMLFX

• 1D: 0.66%
• 1M: 6.68%
• YTD: 21.38%
• 6M: 18.19%
• 1Y: 38.95%
• 3Y*: 13.55%
• 5Y*: 2.02%
• 10Y*: 11.00%

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

ICSIX vs. QMLFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICSIX Dynamic U.S. Opportunity Fund	5.68%	16.41%	8.16%	16.05%	-7.52%	16.14%	18.73%	25.95%	-11.12%	15.19%
QMLFX Quantified Market Leaders Fund	21.38%	0.97%	11.05%	15.04%	-23.59%	13.22%	37.81%	26.08%	-13.48%	16.76%

Correlation

The correlation between ICSIX and QMLFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 9, 2013	0.79

The correlation between ICSIX and QMLFX shifts across timeframes, from 0.79 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ICSIX vs. QMLFX — 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

QMLFX

QMLFX Risk / Return Rank: 55
QMLFX Sharpe Ratio Rank: 44
QMLFX Sortino Ratio Rank: 37
QMLFX Omega Ratio Rank: 42
QMLFX Calmar Ratio Rank: 88
QMLFX Martin Ratio Rank: 62

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. QMLFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic U.S. Opportunity Fund (ICSIX) and Quantified Market Leaders Fund (QMLFX). 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	QMLFX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.81	-0.10
Sortino ratio: Return per unit of downside risk	2.36	2.34	+0.02
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	2.68	4.13	-1.45
Martin ratio: Return relative to average drawdown	10.98	11.64	-0.67

ICSIX vs. QMLFX - Sharpe Ratio Comparison

The current ICSIX Sharpe Ratio is 1.70, which is comparable to the QMLFX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of ICSIX and QMLFX, 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. QMLFX - Drawdown Comparison

The maximum ICSIX drawdown since its inception was -25.63%, smaller than the maximum QMLFX drawdown of -36.59%. Use the drawdown chart below to compare losses from any high point for ICSIX and QMLFX.

Drawdown Indicators

	ICSIX	QMLFX	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-36.59%	+10.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-10.07%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-24.90%	-27.21%	+2.31%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-34.07%	+9.17%
Max Drawdown (10Y) Largest decline over 10 years	-25.63%	-36.59%	+10.96%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-3.23%	-12.49%	+9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	3.56%	-1.92%

Volatility

ICSIX vs. QMLFX - Volatility Comparison

The current volatility for Dynamic U.S. Opportunity Fund (ICSIX) is 3.73%, while Quantified Market Leaders Fund (QMLFX) has a volatility of 11.85%. This indicates that ICSIX experiences smaller price fluctuations and is considered to be less risky than QMLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSIX	QMLFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	11.85%	-8.12%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	17.84%	-9.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.62%	23.04%	-12.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	20.54%	-4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	21.24%	-5.58%

ICSIX vs. QMLFX - Expense Ratio Comparison

ICSIX has a 1.24% expense ratio, which is lower than QMLFX's 1.30% expense ratio.

Dividends

ICSIX vs. QMLFX - Dividend Comparison

ICSIX's dividend yield for the trailing twelve months is around 18.11%, more than QMLFX's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QMLFX Quantified Market Leaders Fund	1.13%	1.37%	0.00%	1.99%	0.00%	26.84%	9.58%	0.00%	15.63%	12.15%	2.22%	1.63%

Frequently Asked Questions

Can I hold both ICSIX and QMLFX in my portfolio?

ICSIX and QMLFX have a correlation of 0.90, 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 QMLFX?

QMLFX has higher volatility (11.85%) compared to ICSIX (3.73%). In terms of maximum drawdown, ICSIX dropped -25.63% vs QMLFX's -36.59%.

Which has better risk-adjusted returns?

QMLFX currently has the higher Sharpe Ratio (1.81 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.