SSIAX vs. IOEZX

Last updated Jun 23, 2026

SSIAX (1919 Socially Responsive Balanced Fund) and IOEZX (ICON Equity Income Fund) are both Diversified Portfolio funds. Over the past 10 years, SSIAX returned 10.11%/yr vs 8.56%/yr for IOEZX. A 0.79 correlation means they provide meaningful diversification when combined. SSIAX charges 0.97%/yr vs 1.00%/yr for IOEZX.

Performance

SSIAX vs. IOEZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1919 Socially Responsive Balanced Fund (SSIAX) and ICON Equity Income Fund (IOEZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSIAX achieves a 2.35% return, which is significantly lower than IOEZX's 13.04% return. Over the past 10 years, SSIAX has outperformed IOEZX with an annualized return of 10.11%, while IOEZX has yielded a comparatively lower 8.56% annualized return.

SSIAX

• 1D: 0.69%
• 1M: -0.34%
• YTD: 2.35%
• 6M: 2.23%
• 1Y: 10.77%
• 3Y*: 12.13%
• 5Y*: 6.74%
• 10Y*: 10.11%

IOEZX

• 1D: -0.40%
• 1M: -1.39%
• YTD: 13.04%
• 6M: 12.32%
• 1Y: 27.56%
• 3Y*: 11.95%
• 5Y*: 5.66%
• 10Y*: 8.56%

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

SSIAX vs. IOEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSIAX 1919 Socially Responsive Balanced Fund	2.35%	9.79%	15.94%	19.66%	-20.00%	17.26%	20.57%	24.69%	-1.30%	16.38%
IOEZX ICON Equity Income Fund	13.04%	14.29%	6.12%	3.82%	-13.56%	24.15%	3.16%	27.70%	-10.11%	13.59%

Correlation

The correlation between SSIAX and IOEZX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 3, 2004	0.79

Over the past year, the correlation between SSIAX and IOEZX has dropped to 0.49 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

SSIAX vs. IOEZX — Risk / Return Rank

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

SSIAX

SSIAX Risk / Return Rank: 21
SSIAX Sharpe Ratio Rank: 22
SSIAX Sortino Ratio Rank: 21
SSIAX Omega Ratio Rank: 20
SSIAX Calmar Ratio Rank: 17
SSIAX Martin Ratio Rank: 25

IOEZX

IOEZX Risk / Return Rank: 76
IOEZX Sharpe Ratio Rank: 73
IOEZX Sortino Ratio Rank: 78
IOEZX Omega Ratio Rank: 58
IOEZX Calmar Ratio Rank: 88
IOEZX Martin Ratio Rank: 87

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.

SSIAX vs. IOEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1919 Socially Responsive Balanced Fund (SSIAX) 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.

	SSIAX	IOEZX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.28	-1.03
Sortino ratio: Return per unit of downside risk	1.80	3.39	-1.59
Omega ratio: Gain probability vs. loss probability	1.22	1.38	-0.16
Calmar ratio: Return relative to maximum drawdown	1.37	4.10	-2.73
Martin ratio: Return relative to average drawdown	5.67	15.09	-9.43

SSIAX vs. IOEZX - Sharpe Ratio Comparison

The current SSIAX Sharpe Ratio is 1.24, which is lower than the IOEZX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of SSIAX and IOEZX, 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

SSIAX vs. IOEZX - Drawdown Comparison

The maximum SSIAX drawdown since its inception was -40.41%, smaller than the maximum IOEZX drawdown of -56.15%. Use the drawdown chart below to compare losses from any high point for SSIAX and IOEZX.

Drawdown Indicators

	SSIAX	IOEZX	Difference
Max Drawdown Largest peak-to-trough decline	-40.41%	-56.15%	+15.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.77%	-6.77%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-13.12%	-13.95%	+0.83%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-21.47%	-2.56%
Max Drawdown (10Y) Largest decline over 10 years	-24.03%	-38.12%	+14.09%
Current Drawdown Current decline from peak	-1.55%	-2.88%	+1.33%
Average Drawdown Average peak-to-trough decline	-6.05%	-8.57%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.84%	+0.03%

Volatility

SSIAX vs. IOEZX - Volatility Comparison

The current volatility for 1919 Socially Responsive Balanced Fund (SSIAX) is 3.02%, while ICON Equity Income Fund (IOEZX) has a volatility of 3.71%. This indicates that SSIAX 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.

Volatility by Period

	SSIAX	IOEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	3.71%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	6.82%	8.96%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	8.55%	12.19%	-3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.58%	13.80%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.74%	16.49%	-3.75%

SSIAX vs. IOEZX - Expense Ratio Comparison

SSIAX has a 0.97% expense ratio, which is lower than IOEZX's 1.00% expense ratio.

Dividends

SSIAX vs. IOEZX - Dividend Comparison

SSIAX's dividend yield for the trailing twelve months is around 1.19%, less than IOEZX's 2.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IOEZX ICON Equity Income Fund	2.99%	3.56%	4.32%	3.75%	13.63%	12.92%	3.68%	4.74%	3.80%	3.13%	3.32%	4.24%
SSIAX 1919 Socially Responsive Balanced Fund	1.19%	1.23%	0.73%	0.51%	0.23%	0.41%	0.27%	0.62%	7.03%	6.21%	7.28%	8.74%

Frequently Asked Questions

Can I hold both SSIAX and IOEZX in my portfolio?

SSIAX and IOEZX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSIAX or IOEZX?

IOEZX has higher volatility (3.71%) compared to SSIAX (3.02%). In terms of maximum drawdown, SSIAX dropped -40.41% vs IOEZX's -56.15%.

Which has better risk-adjusted returns?

IOEZX currently has the higher Sharpe Ratio (2.28 vs 1.24), 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.