ICTEX vs. IOEZX

Last updated Jun 4, 2026

ICTEX (ICON Health and Information Technology Fund) and IOEZX (ICON Equity Income Fund) are both mutual funds - ICTEX is a Technology Equities fund managed by ICON Funds, while IOEZX is a Diversified Portfolio fund managed by ICON Funds. Over the past 10 years, ICTEX returned 17.43%/yr vs 8.56%/yr for IOEZX. A 0.75 correlation means they provide meaningful diversification when combined. ICTEX charges 1.26%/yr vs 1.00%/yr for IOEZX.

Performance

ICTEX vs. IOEZX - Performance Comparison

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

Returns By Period

In the year-to-date period, ICTEX achieves a 32.34% return, which is significantly higher than IOEZX's 13.83% return. Over the past 10 years, ICTEX has outperformed IOEZX with an annualized return of 17.43%, while IOEZX has yielded a comparatively lower 8.56% annualized return.

ICTEX

• 1D: 0.79%
• 1M: 11.06%
• YTD: 32.34%
• 6M: 30.72%
• 1Y: 56.75%
• 3Y*: 26.92%
• 5Y*: 12.95%
• 10Y*: 17.43%

IOEZX

• 1D: 0.91%
• 1M: -0.69%
• YTD: 13.83%
• 6M: 15.02%
• 1Y: 27.35%
• 3Y*: 12.80%
• 5Y*: 4.43%
• 10Y*: 8.56%

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

ICTEX vs. IOEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICTEX ICON Health and Information Technology Fund	32.34%	17.55%	20.45%	13.59%	-19.38%	17.62%	33.94%	43.72%	-11.19%	32.52%
IOEZX ICON Equity Income Fund	13.83%	14.29%	6.12%	3.82%	-13.56%	24.15%	3.16%	27.70%	-10.11%	13.59%

Correlation

The correlation between ICTEX and IOEZX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 4, 2004	0.75

Over the past year, the correlation between ICTEX and IOEZX has dropped to 0.46 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

ICTEX vs. IOEZX — Risk / Return Rank

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

ICTEX

ICTEX Risk / Return Rank: 86
ICTEX Sharpe Ratio Rank: 92
ICTEX Sortino Ratio Rank: 84
ICTEX Omega Ratio Rank: 78
ICTEX Calmar Ratio Rank: 88
ICTEX Martin Ratio Rank: 89

IOEZX

IOEZX Risk / Return Rank: 70
IOEZX Sharpe Ratio Rank: 62
IOEZX Sortino Ratio Rank: 67
IOEZX Omega Ratio Rank: 51
IOEZX Calmar Ratio Rank: 86
IOEZX Martin Ratio Rank: 83

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. IOEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Health and Information Technology Fund (ICTEX) and ICON Equity Income Fund (IOEZX). 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	IOEZX	Difference
Sharpe ratio: Return per unit of total volatility	3.09	2.32	+0.77
Sortino ratio: Return per unit of downside risk	3.96	3.41	+0.55
Omega ratio: Gain probability vs. loss probability	1.51	1.39	+0.11
Calmar ratio: Return relative to maximum drawdown	4.36	4.13	+0.23
Martin ratio: Return relative to average drawdown	17.49	15.74	+1.75
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. IOEZX - Sharpe Ratio Comparison

The current ICTEX Sharpe Ratio is 3.09, which is higher than the IOEZX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ICTEX and IOEZX, 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	IOEZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	2.32	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.32	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.52	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.40	-0.01

Drawdowns

ICTEX vs. IOEZX - Drawdown Comparison

The maximum ICTEX drawdown since its inception was -64.92%, which is greater than IOEZX's maximum drawdown of -56.15%. Use the drawdown chart below to compare losses from any high point for ICTEX and IOEZX.

Drawdown Indicators

	ICTEX	IOEZX	Difference
Max Drawdown Largest peak-to-trough decline	-64.92%	-56.15%	-8.77%
Max Drawdown (1Y) Largest decline over 1 year	-13.58%	-6.77%	-6.81%
Max Drawdown (3Y) Largest decline over 3 years	-25.38%	-13.95%	-11.43%
Max Drawdown (5Y) Largest decline over 5 years	-26.67%	-21.47%	-5.20%
Max Drawdown (10Y) Largest decline over 10 years	-35.08%	-38.12%	+3.04%
Current Drawdown Current decline from peak	0.00%	-2.20%	+2.20%
Average Drawdown Average peak-to-trough decline	-18.00%	-8.58%	-9.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	1.77%	+1.61%

Volatility

ICTEX vs. IOEZX - Volatility Comparison

ICON Health and Information Technology Fund (ICTEX) has a higher volatility of 4.86% compared to ICON Equity Income Fund (IOEZX) at 3.68%. This indicates that ICTEX's price experiences larger fluctuations and is considered to be riskier than IOEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICTEX	IOEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	3.68%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	8.84%	+6.17%
Volatility (1Y) Calculated over the trailing 1-year period	19.20%	12.05%	+7.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	13.83%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	16.48%	+4.83%

ICTEX vs. IOEZX - Expense Ratio Comparison

ICTEX has a 1.26% expense ratio, which is higher than IOEZX's 1.00% expense ratio.

Dividends

ICTEX vs. IOEZX - Dividend Comparison

ICTEX's dividend yield for the trailing twelve months is around 15.68%, more than IOEZX's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICTEX ICON Health and Information Technology Fund	15.68%	20.75%	11.36%	12.46%	18.84%	16.62%	3.45%	4.32%	16.94%	24.94%	21.88%	0.00%
IOEZX ICON Equity Income Fund	2.97%	3.56%	4.32%	3.75%	13.63%	12.92%	3.68%	4.74%	3.80%	3.13%	3.32%	4.24%

Frequently Asked Questions

Can I hold both ICTEX and IOEZX in my portfolio?

ICTEX and IOEZX have a correlation of 0.46, 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 IOEZX?

ICTEX has higher volatility (4.86%) compared to IOEZX (3.68%). In terms of maximum drawdown, ICTEX dropped -64.92% vs IOEZX's -56.15%.

Which has better risk-adjusted returns?

ICTEX currently has the higher Sharpe Ratio (3.09 vs 2.32), 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.