IOEZX vs. VGWIX

Last updated Jun 24, 2026

IOEZX (ICON Equity Income Fund) and VGWIX (Vanguard Global Wellesley Income Fund Investor Shares) are both Diversified Portfolio funds. Over the past 5 years, IOEZX returned 5.22%/yr vs 5.05%/yr for VGWIX. A 0.72 correlation means they provide meaningful diversification when combined. IOEZX charges 1.00%/yr vs 0.41%/yr for VGWIX.

Performance

IOEZX vs. VGWIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Equity Income Fund (IOEZX) and Vanguard Global Wellesley Income Fund Investor Shares (VGWIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOEZX achieves a 12.75% return, which is significantly higher than VGWIX's 4.34% return.

IOEZX

• 1D: -0.25%
• 1M: -1.64%
• YTD: 12.75%
• 6M: 12.28%
• 1Y: 26.30%
• 3Y*: 12.47%
• 5Y*: 5.22%
• 10Y*: 8.74%

VGWIX

• 1D: -0.04%
• 1M: 0.28%
• YTD: 4.34%
• 6M: 4.34%
• 1Y: 10.83%
• 3Y*: 9.78%
• 5Y*: 5.05%
• 10Y*: —

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

IOEZX vs. VGWIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IOEZX ICON Equity Income Fund	12.75%	14.29%	6.12%	3.82%	-13.56%	24.15%	3.16%	27.70%	-10.11%	2.13%
VGWIX Vanguard Global Wellesley Income Fund Investor Shares	4.34%	13.18%	6.02%	8.78%	-8.15%	6.41%	5.41%	13.82%	-4.38%	0.94%

Correlation

The correlation between IOEZX and VGWIX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017	0.72

The correlation between IOEZX and VGWIX has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.

Return for Risk

IOEZX vs. VGWIX — Risk / Return Rank

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

IOEZX

IOEZX Risk / Return Rank: 75
IOEZX Sharpe Ratio Rank: 70
IOEZX Sortino Ratio Rank: 76
IOEZX Omega Ratio Rank: 55
IOEZX Calmar Ratio Rank: 87
IOEZX Martin Ratio Rank: 85

VGWIX

VGWIX Risk / Return Rank: 57
VGWIX Sharpe Ratio Rank: 64
VGWIX Sortino Ratio Rank: 67
VGWIX Omega Ratio Rank: 66
VGWIX Calmar Ratio Rank: 44
VGWIX Martin Ratio Rank: 46

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. VGWIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Equity Income Fund (IOEZX) and Vanguard Global Wellesley Income Fund Investor Shares (VGWIX). 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.

	IOEZX	VGWIX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.15	+0.09
Sortino ratio: Return per unit of downside risk	3.35	3.10	+0.25
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	4.04	2.42	+1.62
Martin ratio: Return relative to average drawdown	14.79	9.12	+5.67

IOEZX vs. VGWIX - Sharpe Ratio Comparison

The current IOEZX Sharpe Ratio is 2.24, which is comparable to the VGWIX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IOEZX and VGWIX, 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

IOEZX vs. VGWIX - Drawdown Comparison

The maximum IOEZX drawdown since its inception was -56.15%, which is greater than VGWIX's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for IOEZX and VGWIX.

Drawdown Indicators

	IOEZX	VGWIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.15%	-17.74%	-38.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-4.59%	-2.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	-5.35%	-8.60%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	-15.95%	-5.52%
Max Drawdown (10Y) Largest decline over 10 years	-38.12%	—	—
Current Drawdown Current decline from peak	-3.12%	-0.54%	-2.58%
Average Drawdown Average peak-to-trough decline	-8.57%	-2.68%	-5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.22%	+0.63%

Volatility

IOEZX vs. VGWIX - Volatility Comparison

ICON Equity Income Fund (IOEZX) has a higher volatility of 3.54% compared to Vanguard Global Wellesley Income Fund Investor Shares (VGWIX) at 1.53%. This indicates that IOEZX's price experiences larger fluctuations and is considered to be riskier than VGWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOEZX	VGWIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	1.53%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	4.23%	+4.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	5.18%	+7.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	6.26%	+7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	6.79%	+9.70%

IOEZX vs. VGWIX - Expense Ratio Comparison

IOEZX has a 1.00% expense ratio, which is higher than VGWIX's 0.41% expense ratio.

Dividends

IOEZX vs. VGWIX - Dividend Comparison

IOEZX's dividend yield for the trailing twelve months is around 3.00%, less than VGWIX's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IOEZX ICON Equity Income Fund	3.00%	3.56%	4.32%	3.75%	13.63%	12.92%	3.68%	4.74%	3.80%	3.13%	3.32%	4.24%
VGWIX Vanguard Global Wellesley Income Fund Investor Shares	3.85%	3.88%	3.77%	3.03%	1.41%	2.27%	1.89%	2.17%	4.25%	0.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IOEZX and VGWIX in my portfolio?

IOEZX and VGWIX have a correlation of 0.73, 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 VGWIX?

IOEZX has higher volatility (3.54%) compared to VGWIX (1.53%). In terms of maximum drawdown, IOEZX dropped -56.15% vs VGWIX's -17.74%.

Which has better risk-adjusted returns?

IOEZX currently has the higher Sharpe Ratio (2.24 vs 2.15), 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.