NVDA vs. ICMUX

Last updated Jun 13, 2026

NVDA (NVIDIA Corporation) is a stock, while ICMUX (Intrepid Income Fund) is Multisector Bonds fund managed by Intrepid Funds. Over the past 10 years, NVDA returned 67.95%/yr vs 5.83%/yr for ICMUX. At a 0.19 correlation, their price movements are largely independent.

Performance

NVDA vs. ICMUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NVIDIA Corporation (NVDA) and Intrepid Income Fund (ICMUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDA achieves a 10.16% return, which is significantly higher than ICMUX's 2.09% return. Over the past 10 years, NVDA has outperformed ICMUX with an annualized return of 67.95%, while ICMUX has yielded a comparatively lower 5.83% annualized return.

NVDA

• 1D: 0.16%
• 1M: -12.86%
• YTD: 10.16%
• 6M: 17.38%
• 1Y: 44.72%
• 3Y*: 71.13%
• 5Y*: 63.13%
• 10Y*: 67.95%

ICMUX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 2.09%
• 6M: 2.58%
• 1Y: 7.67%
• 3Y*: 9.63%
• 5Y*: 6.09%
• 10Y*: 5.83%

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

NVDA vs. ICMUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVDA NVIDIA Corporation	10.16%	38.92%	171.25%	239.02%	-50.26%	125.48%	122.30%	76.94%	-30.82%	81.99%
ICMUX Intrepid Income Fund	2.09%	8.16%	10.43%	10.90%	-3.17%	10.02%	8.77%	4.65%	0.53%	3.79%

Correlation

The correlation between NVDA and ICMUX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 16, 2010	0.19

Return for Risk

NVDA vs. ICMUX — Risk / Return Rank

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

NVDA

NVDA Risk / Return Rank: 75
NVDA Sharpe Ratio Rank: 78
NVDA Sortino Ratio Rank: 73
NVDA Omega Ratio Rank: 71
NVDA Calmar Ratio Rank: 77
NVDA Martin Ratio Rank: 77

ICMUX

ICMUX Risk / Return Rank: 97
ICMUX Sharpe Ratio Rank: 99
ICMUX Sortino Ratio Rank: 98
ICMUX Omega Ratio Rank: 97
ICMUX Calmar Ratio Rank: 96
ICMUX Martin Ratio Rank: 96

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.

NVDA vs. ICMUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NVIDIA Corporation (NVDA) and Intrepid Income Fund (ICMUX). 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.

	NVDA	ICMUX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	3.89	-2.69
Sortino ratio: Return per unit of downside risk	1.75	6.46	-4.71
Omega ratio: Gain probability vs. loss probability	1.21	1.97	-0.76
Calmar ratio: Return relative to maximum drawdown	2.07	5.65	-3.58
Martin ratio: Return relative to average drawdown	4.94	19.74	-14.79

NVDA vs. ICMUX - Sharpe Ratio Comparison

The current NVDA Sharpe Ratio is 1.20, which is lower than the ICMUX Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of NVDA and ICMUX, 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

NVDA vs. ICMUX - Drawdown Comparison

The maximum NVDA drawdown since its inception was -89.72%, which is greater than ICMUX's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for NVDA and ICMUX.

Drawdown Indicators

	NVDA	ICMUX	Difference
Max Drawdown Largest peak-to-trough decline	-89.72%	-8.77%	-80.95%
Max Drawdown (1Y) Largest decline over 1 year	-20.21%	-1.34%	-18.87%
Max Drawdown (3Y) Largest decline over 3 years	-36.88%	-3.11%	-33.77%
Max Drawdown (5Y) Largest decline over 5 years	-66.34%	-5.64%	-60.70%
Max Drawdown (10Y) Largest decline over 10 years	-66.34%	-8.77%	-57.57%
Current Drawdown Current decline from peak	-12.86%	-0.33%	-12.53%
Average Drawdown Average peak-to-trough decline	-36.18%	-0.74%	-35.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.46%	0.38%	+8.08%

Volatility

NVDA vs. ICMUX - Volatility Comparison

NVIDIA Corporation (NVDA) has a higher volatility of 13.26% compared to Intrepid Income Fund (ICMUX) at 0.59%. This indicates that NVDA's price experiences larger fluctuations and is considered to be riskier than ICMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDA	ICMUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.26%	0.59%	+12.67%
Volatility (6M) Calculated over the trailing 6-month period	26.67%	1.44%	+25.23%
Volatility (1Y) Calculated over the trailing 1-year period	35.00%	1.95%	+33.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.76%	2.66%	+49.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.84%	2.58%	+47.26%

Dividends

NVDA vs. ICMUX - Dividend Comparison

NVDA's dividend yield for the trailing twelve months is around 0.14%, less than ICMUX's 7.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICMUX Intrepid Income Fund	7.57%	7.96%	7.85%	9.10%	8.17%	5.99%	5.56%	3.35%	3.07%	2.86%	3.01%	3.53%
NVDA NVIDIA Corporation	0.14%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%

Frequently Asked Questions

Can I hold both NVDA and ICMUX in my portfolio?

NVDA and ICMUX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDA or ICMUX?

NVDA has higher volatility (13.26%) compared to ICMUX (0.59%). In terms of maximum drawdown, NVDA dropped -89.72% vs ICMUX's -8.77%.

Which has better risk-adjusted returns?

ICMUX currently has the higher Sharpe Ratio (3.89 vs 1.20), 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.