IOEZX vs. AMBFX

Last updated Jun 4, 2026

IOEZX (ICON Equity Income Fund) and AMBFX (American Funds American Balanced Fund® Class F-2) are both Diversified Portfolio funds. Over the past 10 years, IOEZX returned 8.56%/yr vs 10.47%/yr for AMBFX. Their correlation of 0.84 suggests significant overlap in exposure. IOEZX charges 1.00%/yr vs 0.35%/yr for AMBFX.

Performance

IOEZX vs. AMBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Equity Income Fund (IOEZX) and American Funds American Balanced Fund® Class F-2 (AMBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOEZX achieves a 13.83% return, which is significantly higher than AMBFX's 10.06% return. Over the past 10 years, IOEZX has underperformed AMBFX with an annualized return of 8.56%, while AMBFX has yielded a comparatively higher 10.47% annualized return.

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%

AMBFX

• 1D: 0.24%
• 1M: 4.00%
• YTD: 10.06%
• 6M: 10.70%
• 1Y: 25.21%
• 3Y*: 17.77%
• 5Y*: 9.94%
• 10Y*: 10.47%

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

IOEZX vs. AMBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
AMBFX American Funds American Balanced Fund® Class F-2	10.06%	18.67%	15.25%	13.81%	-11.93%	16.00%	11.06%	19.45%	-2.69%	14.85%

Correlation

The correlation between IOEZX and AMBFX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Aug 4, 2008	0.84

Over the past year, the correlation between IOEZX and AMBFX has dropped to 0.58 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

IOEZX vs. AMBFX — Risk / Return Rank

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

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

AMBFX

AMBFX Risk / Return Rank: 86
AMBFX Sharpe Ratio Rank: 90
AMBFX Sortino Ratio Rank: 87
AMBFX Omega Ratio Rank: 84
AMBFX Calmar Ratio Rank: 81
AMBFX Martin Ratio Rank: 86

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.

IOEZX vs. AMBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Equity Income Fund (IOEZX) and American Funds American Balanced Fund® Class F-2 (AMBFX). 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.

	IOEZX	AMBFX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.96	-0.64
Sortino ratio: Return per unit of downside risk	3.41	4.14	-0.73
Omega ratio: Gain probability vs. loss probability	1.39	1.57	-0.17
Calmar ratio: Return relative to maximum drawdown	4.13	3.70	+0.44
Martin ratio: Return relative to average drawdown	15.74	16.73	-0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOEZX vs. AMBFX - Sharpe Ratio Comparison

The current IOEZX Sharpe Ratio is 2.32, which is comparable to the AMBFX Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of IOEZX and AMBFX, 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

	IOEZX	AMBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.96	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.95	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.98	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.78	-0.37

Drawdowns

IOEZX vs. AMBFX - Drawdown Comparison

The maximum IOEZX drawdown since its inception was -56.15%, which is greater than AMBFX's maximum drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for IOEZX and AMBFX.

Drawdown Indicators

	IOEZX	AMBFX	Difference
Max Drawdown Largest peak-to-trough decline	-56.15%	-35.05%	-21.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-7.00%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	-10.64%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	-18.65%	-2.82%
Max Drawdown (10Y) Largest decline over 10 years	-38.12%	-22.31%	-15.81%
Current Drawdown Current decline from peak	-2.20%	0.00%	-2.20%
Average Drawdown Average peak-to-trough decline	-8.58%	-3.58%	-5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	1.54%	+0.23%

Volatility

IOEZX vs. AMBFX - Volatility Comparison

ICON Equity Income Fund (IOEZX) has a higher volatility of 3.68% compared to American Funds American Balanced Fund® Class F-2 (AMBFX) at 2.67%. This indicates that IOEZX's price experiences larger fluctuations and is considered to be riskier than AMBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOEZX	AMBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.67%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	8.84%	6.86%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	8.73%	+3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	10.50%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	10.67%	+5.81%

IOEZX vs. AMBFX - Expense Ratio Comparison

IOEZX has a 1.00% expense ratio, which is higher than AMBFX's 0.35% expense ratio.

Dividends

IOEZX vs. AMBFX - Dividend Comparison

IOEZX's dividend yield for the trailing twelve months is around 2.97%, less than AMBFX's 7.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMBFX American Funds American Balanced Fund® Class F-2	7.72%	8.47%	7.40%	2.20%	2.52%	4.50%	4.56%	4.19%	6.20%	4.85%	4.46%	5.81%
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 IOEZX and AMBFX in my portfolio?

IOEZX and AMBFX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IOEZX or AMBFX?

IOEZX has higher volatility (3.68%) compared to AMBFX (2.67%). In terms of maximum drawdown, IOEZX dropped -56.15% vs AMBFX's -35.05%.

Which has better risk-adjusted returns?

AMBFX currently has the higher Sharpe Ratio (2.96 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.