ICTEX vs. BOGSX

Last updated Jun 5, 2026

ICTEX (ICON Health and Information Technology Fund) and BOGSX (Black Oak Emerging Technology Fund) are both Technology Equities funds. Over the past 10 years, ICTEX returned 17.23%/yr vs 17.86%/yr for BOGSX. Their correlation of 0.87 suggests significant overlap in exposure. ICTEX charges 1.26%/yr vs 1.03%/yr for BOGSX.

Performance

ICTEX vs. BOGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Health and Information Technology Fund (ICTEX) and Black Oak Emerging Technology Fund (BOGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICTEX achieves a 30.13% return, which is significantly lower than BOGSX's 43.19% return. Both investments have delivered pretty close results over the past 10 years, with ICTEX having a 17.23% annualized return and BOGSX not far ahead at 17.86%.

ICTEX

• 1D: -1.67%
• 1M: 8.38%
• YTD: 30.13%
• 6M: 27.89%
• 1Y: 53.45%
• 3Y*: 26.21%
• 5Y*: 12.29%
• 10Y*: 17.23%

BOGSX

• 1D: 0.00%
• 1M: 13.74%
• YTD: 43.19%
• 6M: 42.16%
• 1Y: 62.18%
• 3Y*: 25.08%
• 5Y*: 13.51%
• 10Y*: 17.86%

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

ICTEX vs. BOGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICTEX ICON Health and Information Technology Fund	30.13%	17.55%	20.45%	13.59%	-19.38%	17.62%	33.94%	43.72%	-11.19%	32.52%
BOGSX Black Oak Emerging Technology Fund	43.19%	19.06%	9.25%	17.79%	-27.30%	26.89%	45.16%	38.20%	-4.94%	19.05%

Correlation

The correlation between ICTEX and BOGSX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.87

The correlation between ICTEX and BOGSX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

ICTEX vs. BOGSX — Risk / Return Rank

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

ICTEX

ICTEX Risk / Return Rank: 81
ICTEX Sharpe Ratio Rank: 86
ICTEX Sortino Ratio Rank: 76
ICTEX Omega Ratio Rank: 70
ICTEX Calmar Ratio Rank: 85
ICTEX Martin Ratio Rank: 86

BOGSX

BOGSX Risk / Return Rank: 85
BOGSX Sharpe Ratio Rank: 89
BOGSX Sortino Ratio Rank: 76
BOGSX Omega Ratio Rank: 72
BOGSX Calmar Ratio Rank: 95
BOGSX Martin Ratio Rank: 93

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.

ICTEX vs. BOGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Health and Information Technology Fund (ICTEX) and Black Oak Emerging Technology Fund (BOGSX). 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.

	ICTEX	BOGSX	Difference
Sharpe ratio: Return per unit of total volatility	2.83	2.93	-0.10
Sortino ratio: Return per unit of downside risk	3.67	3.65	+0.01
Omega ratio: Gain probability vs. loss probability	1.47	1.47	-0.01
Calmar ratio: Return relative to maximum drawdown	4.01	5.68	-1.68
Martin ratio: Return relative to average drawdown	16.04	19.50	-3.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICTEX vs. BOGSX - Sharpe Ratio Comparison

The current ICTEX Sharpe Ratio is 2.83, which is comparable to the BOGSX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of ICTEX and BOGSX, 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

	ICTEX	BOGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.93	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.54	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.73	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.11	+0.28

Drawdowns

ICTEX vs. BOGSX - Drawdown Comparison

The maximum ICTEX drawdown since its inception was -64.92%, smaller than the maximum BOGSX drawdown of -92.80%. Use the drawdown chart below to compare losses from any high point for ICTEX and BOGSX.

Drawdown Indicators

	ICTEX	BOGSX	Difference
Max Drawdown Largest peak-to-trough decline	-64.92%	-92.80%	+27.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.58%	-11.04%	-2.54%
Max Drawdown (3Y) Largest decline over 3 years	-25.38%	-24.78%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-26.67%	-33.93%	+7.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.08%	-33.93%	-1.15%
Current Drawdown Current decline from peak	-1.67%	0.00%	-1.67%
Average Drawdown Average peak-to-trough decline	-17.99%	-58.95%	+40.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	3.21%	+0.17%

Volatility

ICTEX vs. BOGSX - Volatility Comparison

The current volatility for ICON Health and Information Technology Fund (ICTEX) is 5.32%, while Black Oak Emerging Technology Fund (BOGSX) has a volatility of 6.72%. This indicates that ICTEX experiences smaller price fluctuations and is considered to be less risky than BOGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICTEX	BOGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	6.72%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	15.09%	16.72%	-1.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.29%	21.46%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.56%	25.21%	-5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	24.60%	-3.29%

ICTEX vs. BOGSX - Expense Ratio Comparison

ICTEX has a 1.26% expense ratio, which is higher than BOGSX's 1.03% expense ratio.

Dividends

ICTEX vs. BOGSX - Dividend Comparison

ICTEX's dividend yield for the trailing twelve months is around 15.95%, more than BOGSX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOGSX Black Oak Emerging Technology Fund	4.02%	5.76%	7.96%	3.79%	1.87%	11.31%	6.30%	5.47%	11.71%	7.71%	4.00%	3.09%
ICTEX ICON Health and Information Technology Fund	15.95%	20.75%	11.36%	12.46%	18.84%	16.62%	3.45%	4.32%	16.94%	24.94%	21.88%	0.00%

Frequently Asked Questions

Can I hold both ICTEX and BOGSX in my portfolio?

ICTEX and BOGSX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICTEX or BOGSX?

BOGSX has higher volatility (6.72%) compared to ICTEX (5.32%). In terms of maximum drawdown, ICTEX dropped -64.92% vs BOGSX's -92.80%.

Which has better risk-adjusted returns?

BOGSX currently has the higher Sharpe Ratio (2.93 vs 2.83), 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.