MONTX vs. IOLZX

Last updated Jun 24, 2026

MONTX (Monetta Fund) and IOLZX (ICON Equity Fund) are both Large Cap Growth Equities funds. Over the past 10 years, MONTX returned 15.85%/yr vs 15.49%/yr for IOLZX. Their correlation of 0.83 suggests significant overlap in exposure. MONTX charges 1.33%/yr vs 1.04%/yr for IOLZX.

Performance

MONTX vs. IOLZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monetta Fund (MONTX) and ICON Equity Fund (IOLZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MONTX achieves a 11.44% return, which is significantly lower than IOLZX's 30.88% return. Both investments have delivered pretty close results over the past 10 years, with MONTX having a 15.85% annualized return and IOLZX not far behind at 15.49%.

MONTX

• 1D: -0.80%
• 1M: 1.46%
• YTD: 11.44%
• 6M: 9.12%
• 1Y: 25.61%
• 3Y*: 26.05%
• 5Y*: 12.49%
• 10Y*: 15.85%

IOLZX

• 1D: 0.36%
• 1M: 7.28%
• YTD: 30.88%
• 6M: 29.23%
• 1Y: 53.97%
• 3Y*: 25.06%
• 5Y*: 11.89%
• 10Y*: 15.49%

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

MONTX vs. IOLZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MONTX Monetta Fund	11.44%	25.79%	28.06%	31.29%	-27.98%	17.93%	29.44%	28.30%	-3.37%	19.28%
IOLZX ICON Equity Fund	30.88%	15.81%	16.87%	12.13%	-17.78%	26.72%	16.00%	38.22%	-16.69%	26.78%

Correlation

The correlation between MONTX and IOLZX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 3, 2004	0.83

The correlation between MONTX and IOLZX shifts across timeframes, from 0.63 (3 years) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MONTX vs. IOLZX — Risk / Return Rank

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

MONTX

MONTX Risk / Return Rank: 28
MONTX Sharpe Ratio Rank: 30
MONTX Sortino Ratio Rank: 26
MONTX Omega Ratio Rank: 28
MONTX Calmar Ratio Rank: 28
MONTX Martin Ratio Rank: 26

IOLZX

IOLZX Risk / Return Rank: 85
IOLZX Sharpe Ratio Rank: 92
IOLZX Sortino Ratio Rank: 86
IOLZX Omega Ratio Rank: 80
IOLZX Calmar Ratio Rank: 86
IOLZX Martin Ratio Rank: 80

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.

MONTX vs. IOLZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monetta Fund (MONTX) and ICON Equity Fund (IOLZX). 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.

	MONTX	IOLZX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.87	-1.42
Sortino ratio: Return per unit of downside risk	1.94	3.79	-1.85
Omega ratio: Gain probability vs. loss probability	1.26	1.48	-0.22
Calmar ratio: Return relative to maximum drawdown	1.84	3.91	-2.07
Martin ratio: Return relative to average drawdown	5.74	13.84	-8.09

MONTX vs. IOLZX - Sharpe Ratio Comparison

The current MONTX Sharpe Ratio is 1.44, which is lower than the IOLZX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of MONTX and IOLZX, 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

MONTX vs. IOLZX - Drawdown Comparison

The maximum MONTX drawdown since its inception was -67.48%, which is greater than IOLZX's maximum drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for MONTX and IOLZX.

Drawdown Indicators

	MONTX	IOLZX	Difference
Max Drawdown Largest peak-to-trough decline	-67.48%	-56.03%	-11.45%
Max Drawdown (1Y) Largest decline over 1 year	-14.67%	-14.35%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-23.78%	-24.71%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-32.94%	-27.77%	-5.17%
Max Drawdown (10Y) Largest decline over 10 years	-32.94%	-41.04%	+8.10%
Current Drawdown Current decline from peak	-2.47%	0.00%	-2.47%
Average Drawdown Average peak-to-trough decline	-18.09%	-12.61%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.70%	4.05%	+0.65%

Volatility

MONTX vs. IOLZX - Volatility Comparison

Monetta Fund (MONTX) has a higher volatility of 7.68% compared to ICON Equity Fund (IOLZX) at 7.17%. This indicates that MONTX's price experiences larger fluctuations and is considered to be riskier than IOLZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MONTX	IOLZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	7.17%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	14.39%	15.88%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.75%	19.60%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	21.54%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.68%	22.43%	-1.75%

MONTX vs. IOLZX - Expense Ratio Comparison

MONTX has a 1.33% expense ratio, which is higher than IOLZX's 1.04% expense ratio.

Dividends

MONTX vs. IOLZX - Dividend Comparison

MONTX's dividend yield for the trailing twelve months is around 18.14%, more than IOLZX's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IOLZX ICON Equity Fund	8.17%	10.69%	22.21%	4.75%	18.57%	14.12%	0.00%	3.46%	1.60%	0.00%	0.00%	0.00%
MONTX Monetta Fund	18.14%	20.22%	5.87%	0.00%	8.23%	12.76%	4.08%	0.00%	9.33%	6.69%	2.83%	12.43%

Frequently Asked Questions

Can I hold both MONTX and IOLZX in my portfolio?

MONTX and IOLZX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MONTX or IOLZX?

MONTX has higher volatility (7.68%) compared to IOLZX (7.17%). In terms of maximum drawdown, MONTX dropped -67.48% vs IOLZX's -56.03%.

Which has better risk-adjusted returns?

IOLZX currently has the higher Sharpe Ratio (2.87 vs 1.44), 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.