PSCM vs. ICBMX

Last updated Jun 3, 2026

PSCM (Invesco S&P SmallCap Materials ETF) and ICBMX (ICON Natural Resources and Infrastructure Fund) are both funds - PSCM is a Materials fund tracking the S&P Small Cap 600 / Materials -SEC, while ICBMX is a Energy Equities fund managed by ICON Funds. Over the past 10 years, PSCM returned 13.07%/yr vs 12.95%/yr for ICBMX. A 0.71 correlation means they provide meaningful diversification when combined. PSCM charges 0.29%/yr vs 1.31%/yr for ICBMX.

Performance

PSCM vs. ICBMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Materials ETF (PSCM) and ICON Natural Resources and Infrastructure Fund (ICBMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCM achieves a 28.23% return, which is significantly higher than ICBMX's 20.19% return. Both investments have delivered pretty close results over the past 10 years, with PSCM having a 13.07% annualized return and ICBMX not far behind at 12.95%.

PSCM

• 1D: 1.81%
• 1M: -0.02%
• YTD: 28.23%
• 6M: 34.84%
• 1Y: 67.74%
• 3Y*: 18.63%
• 5Y*: 10.48%
• 10Y*: 13.07%

ICBMX

• 1D: 0.56%
• 1M: -0.09%
• YTD: 20.19%
• 6M: 22.54%
• 1Y: 48.42%
• 3Y*: 22.60%
• 5Y*: 13.86%
• 10Y*: 12.95%

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

PSCM vs. ICBMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCM Invesco S&P SmallCap Materials ETF	28.23%	15.59%	0.67%	19.86%	-6.45%	18.02%	22.18%	21.75%	-23.28%	10.37%
ICBMX ICON Natural Resources and Infrastructure Fund	20.19%	15.95%	21.25%	11.02%	0.50%	30.63%	5.53%	22.11%	-17.38%	16.93%

Correlation

The correlation between PSCM and ICBMX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.71

The correlation between PSCM and ICBMX shifts across timeframes, from 0.71 (all time) to 0.82 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PSCM vs. ICBMX — Risk / Return Rank

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

PSCM

PSCM Risk / Return Rank: 82
PSCM Sharpe Ratio Rank: 85
PSCM Sortino Ratio Rank: 83
PSCM Omega Ratio Rank: 71
PSCM Calmar Ratio Rank: 84
PSCM Martin Ratio Rank: 84

ICBMX

ICBMX Risk / Return Rank: 75
ICBMX Sharpe Ratio Rank: 72
ICBMX Sortino Ratio Rank: 70
ICBMX Omega Ratio Rank: 54
ICBMX Calmar Ratio Rank: 91
ICBMX Martin Ratio Rank: 88

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.

PSCM vs. ICBMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Materials ETF (PSCM) and ICON Natural Resources and Infrastructure Fund (ICBMX). 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.

	PSCM	ICBMX	Difference
Sharpe ratio Return per unit of total volatility	2.84	2.47	+0.37
Sortino ratio Return per unit of downside risk	3.80	3.49	+0.31
Omega ratio Gain probability vs. loss probability	1.43	1.41	+0.03
Calmar ratio Return relative to maximum drawdown	4.62	4.77	-0.15
Martin ratio Return relative to average drawdown	17.55	17.14	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCM vs. ICBMX - Sharpe Ratio Comparison

The current PSCM Sharpe Ratio is 2.84, which is comparable to the ICBMX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of PSCM and ICBMX, 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

	PSCM	ICBMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	2.47	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.67	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.58	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.29	+0.10

Drawdowns

PSCM vs. ICBMX - Drawdown Comparison

The maximum PSCM drawdown since its inception was -51.34%, smaller than the maximum ICBMX drawdown of -63.92%. Use the drawdown chart below to compare losses from any high point for PSCM and ICBMX.

Drawdown Indicators

	PSCM	ICBMX	Difference
Max Drawdown Largest peak-to-trough decline	-51.34%	-63.92%	+12.58%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-10.10%	-4.23%
Max Drawdown (3Y) Largest decline over 3 years	-35.36%	-26.49%	-8.87%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	-26.49%	-8.87%
Max Drawdown (10Y) Largest decline over 10 years	-51.34%	-48.18%	-3.16%
Current Drawdown Current decline from peak	-1.23%	-1.05%	-0.18%
Average Drawdown Average peak-to-trough decline	-10.90%	-17.88%	+6.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	2.81%	+0.96%

Volatility

PSCM vs. ICBMX - Volatility Comparison

Invesco S&P SmallCap Materials ETF (PSCM) has a higher volatility of 7.62% compared to ICON Natural Resources and Infrastructure Fund (ICBMX) at 4.68%. This indicates that PSCM's price experiences larger fluctuations and is considered to be riskier than ICBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCM	ICBMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	4.68%	+2.94%
Volatility (6M) Calculated over the trailing 6-month period	16.76%	13.16%	+3.60%
Volatility (1Y) Calculated over the trailing 1-year period	23.99%	20.13%	+3.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.73%	20.75%	+4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.91%	22.30%	+4.61%

PSCM vs. ICBMX - Expense Ratio Comparison

PSCM has a 0.29% expense ratio, which is lower than ICBMX's 1.31% expense ratio.

Dividends

PSCM vs. ICBMX - Dividend Comparison

PSCM's dividend yield for the trailing twelve months is around 1.00%, less than ICBMX's 8.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICBMX ICON Natural Resources and Infrastructure Fund	8.33%	10.01%	17.24%	7.07%	11.07%	1.32%	0.32%	1.55%	21.58%	1.19%	0.53%	7.78%
PSCM Invesco S&P SmallCap Materials ETF	1.00%	1.17%	0.80%	0.81%	0.93%	0.67%	1.56%	1.14%	1.25%	0.61%	0.76%	1.33%

Frequently Asked Questions

Can I hold both PSCM and ICBMX in my portfolio?

PSCM and ICBMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCM or ICBMX?

PSCM has higher volatility (7.62%) compared to ICBMX (4.68%). In terms of maximum drawdown, PSCM dropped -51.34% vs ICBMX's -63.92%.

Which has better risk-adjusted returns?

PSCM currently has the higher Sharpe Ratio (2.84 vs 2.47), 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.