THCGX vs. IOLZX
THCGX (Thornburg Small/Mid Cap Growth Fund) and IOLZX (ICON Equity Fund) are both Large Cap Growth Equities funds. Over the past 10 years, THCGX returned 9.36%/yr vs 15.29%/yr for IOLZX. Their correlation of 0.82 suggests significant overlap in exposure. THCGX charges 1.31%/yr vs 1.04%/yr for IOLZX.
Performance
THCGX vs. IOLZX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, THCGX achieves a 9.87% return, which is significantly lower than IOLZX's 28.62% return. Over the past 10 years, THCGX has underperformed IOLZX with an annualized return of 9.36%, while IOLZX has yielded a comparatively higher 15.29% annualized return.
THCGX
- 1D
- -1.87%
- 1M
- 1.45%
- YTD
- 9.87%
- 6M
- 6.49%
- 1Y
- 19.04%
- 3Y*
- 13.11%
- 5Y*
- 0.22%
- 10Y*
- 9.36%
IOLZX
- 1D
- -1.73%
- 1M
- 5.43%
- YTD
- 28.62%
- 6M
- 26.46%
- 1Y
- 49.69%
- 3Y*
- 24.34%
- 5Y*
- 11.29%
- 10Y*
- 15.29%
THCGX vs. IOLZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
THCGX Thornburg Small/Mid Cap Growth Fund | 9.87% | 4.31% | 19.67% | 19.56% | -34.19% | -4.97% | 41.70% | 28.95% | -2.56% | 23.91% |
IOLZX ICON Equity Fund | 28.62% | 15.81% | 16.87% | 12.13% | -17.78% | 26.72% | 16.00% | 38.22% | -16.69% | 26.78% |
Correlation
The correlation between THCGX and IOLZX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2004 | 0.82 |
The correlation between THCGX and IOLZX shifts across timeframes, from 0.70 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
THCGX vs. IOLZX — Risk / Return Rank
THCGX
IOLZX
THCGX vs. IOLZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Small/Mid Cap Growth Fund (THCGX) 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.
| THCGX | IOLZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.44 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.59 | -2.20 |
| Martin ratioReturn relative to average drawdown | 4.52 | 12.71 | -8.20 |
Loading charts...
Drawdowns
THCGX vs. IOLZX - Drawdown Comparison
The maximum THCGX drawdown since its inception was -63.67%, which is greater than IOLZX's maximum drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for THCGX and IOLZX.
Loading charts...
Drawdown Indicators
| THCGX | IOLZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.67% | -56.03% | -7.64% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -14.35% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -30.25% | -24.71% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -63.67% | -27.77% | -35.90% |
Max Drawdown (10Y)Largest decline over 10 years | -63.67% | -41.04% | -22.63% |
Current DrawdownCurrent decline from peak | -34.95% | -1.73% | -33.22% |
Average DrawdownAverage peak-to-trough decline | -21.25% | -12.60% | -8.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 4.05% | +0.73% |
Volatility
THCGX vs. IOLZX - Volatility Comparison
The current volatility for Thornburg Small/Mid Cap Growth Fund (THCGX) is 6.35%, while ICON Equity Fund (IOLZX) has a volatility of 7.40%. This indicates that THCGX experiences smaller price fluctuations and is considered to be less risky than IOLZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| THCGX | IOLZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 7.40% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.71% | 15.99% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 19.65% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 21.56% | +15.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.16% | 22.36% | +7.80% |
THCGX vs. IOLZX - Expense Ratio Comparison
THCGX has a 1.31% expense ratio, which is higher than IOLZX's 1.04% expense ratio.
Dividends
THCGX vs. IOLZX - Dividend Comparison
THCGX has not paid dividends to shareholders, while IOLZX's dividend yield for the trailing twelve months is around 8.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IOLZX ICON Equity Fund | 8.31% | 10.69% | 22.21% | 4.75% | 18.57% | 14.12% | 0.00% | 3.46% | 1.60% |
THCGX Thornburg Small/Mid Cap Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 54.25% | 6.23% | 9.32% | 0.00% |
Frequently Asked Questions
THCGX and IOLZX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IOLZX has higher volatility (7.40%) compared to THCGX (6.35%). In terms of maximum drawdown, THCGX dropped -63.67% vs IOLZX's -56.03%.
IOLZX currently has the higher Sharpe Ratio (2.63 vs 1.07), 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.
Find the right allocation for THCGX and IOLZX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer