PMEFX vs. IOEZX
PMEFX (Penn Mutual Am 1847 Income Fund) and IOEZX (ICON Equity Income Fund) are both Diversified Portfolio funds. Over the past 5 years, PMEFX returned 2.62%/yr vs 5.93%/yr for IOEZX. A 0.71 correlation means they provide meaningful diversification when combined. PMEFX charges 0.65%/yr vs 1.00%/yr for IOEZX.
Performance
PMEFX vs. IOEZX - Performance Comparison
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Returns By Period
PMEFX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -4.24%
- 3Y*
- 4.95%
- 5Y*
- 2.62%
- 10Y*
- —
IOEZX
- 1D
- 1.13%
- 1M
- 4.62%
- 6M
- 16.54%
- YTD
- 18.31%
- 1Y
- 27.11%
- 3Y*
- 13.88%
- 5Y*
- 5.93%
- 10Y*
- 9.00%
PMEFX vs. IOEZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PMEFX Penn Mutual Am 1847 Income Fund | 0.00% | 1.11% | 9.80% | 9.80% | -4.30% | 9.78% | 6.47% |
IOEZX ICON Equity Income Fund | 18.31% | 14.29% | 6.12% | 3.82% | -13.56% | 24.15% | 20.71% |
Correlation
The correlation between PMEFX and IOEZX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2020 | 0.71 |
Over the past year, the correlation between PMEFX and IOEZX has dropped to 0.40 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
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Return for Risk
PMEFX vs. IOEZX — Risk / Return Rank
PMEFX
IOEZX
PMEFX vs. IOEZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Penn Mutual Am 1847 Income Fund (PMEFX) 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.
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.
| PMEFX | IOEZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.90 | ||
| Sortino ratioReturn per unit of downside risk | -4.03 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.38 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 4.12 | -4.76 |
| Martin ratioReturn relative to average drawdown | -0.85 | 14.95 | -15.80 |
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Drawdowns
PMEFX vs. IOEZX - Drawdown Comparison
The maximum PMEFX drawdown since its inception was -13.27%, smaller than the maximum IOEZX drawdown of -56.15%. Use the drawdown chart below to compare losses from any high point for PMEFX and IOEZX.
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Drawdown Indicators
| PMEFX | IOEZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.27% | -56.15% | +42.88% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -6.77% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -10.04% | -13.95% | +3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -12.65% | -21.47% | +8.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.12% | — |
Current DrawdownCurrent decline from peak | -7.19% | 0.00% | -7.19% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -8.55% | +5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 1.86% | +3.16% |
Volatility
PMEFX vs. IOEZX - Volatility Comparison
The current volatility for Penn Mutual Am 1847 Income Fund (PMEFX) is 0.00%, while ICON Equity Income Fund (IOEZX) has a volatility of 3.68%. This indicates that PMEFX experiences smaller price fluctuations and is considered to be less risky than IOEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMEFX | IOEZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.68% | -3.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | 9.14% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.66% | 12.17% | -4.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 13.79% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.64% | 16.44% | -8.80% |
PMEFX vs. IOEZX - Expense Ratio Comparison
PMEFX has a 0.65% expense ratio, which is lower than IOEZX's 1.00% expense ratio.
Dividends
PMEFX vs. IOEZX - Dividend Comparison
PMEFX's dividend yield for the trailing twelve months is around 5.89%, more than IOEZX's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IOEZX ICON Equity Income Fund | 2.83% | 3.56% | 4.32% | 3.75% | 13.63% | 12.92% | 3.68% | 4.74% | 3.80% | 3.13% | 3.32% | 4.24% |
PMEFX Penn Mutual Am 1847 Income Fund | 5.89% | 8.73% | 6.16% | 4.41% | 3.25% | 13.55% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMEFX and IOEZX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IOEZX has higher volatility (3.68%) compared to PMEFX (0.00%). In terms of maximum drawdown, PMEFX dropped -13.27% vs IOEZX's -56.15%.
IOEZX currently has the higher Sharpe Ratio (2.29 vs -0.60), 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.
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