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ICON EQUITY INCOME FUND
mutual fund
IEQAX
Payout Change
Pending
Price as of:
$16.9
-0.09
-0.53%
primary theme
U.S. Growth Allocation
share class
IEQAX (Mutual Fund)
ICON EQUITY INCOME FUND
Payout Change
Pending
Price as of:
$16.9
-0.09
-0.53%
primary theme
U.S. Growth Allocation
share class
IEQAX (Mutual Fund)
ICON EQUITY INCOME FUND
Payout Change
Pending
Price as of:
$16.9
-0.09
-0.53%
primary theme
U.S. Growth Allocation
share class
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
11.8%
1 yr return
13.5%
3 Yr Avg Return
0.5%
5 Yr Avg Return
9.4%
Net Assets
$46 M
Holdings in Top 10
47.2%
52 WEEK LOW AND HIGH
$17.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.34%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 25.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
IEQAX - Profile
Distributions
- YTD Total Return 11.8%
- 3 Yr Annualized Total Return 0.5%
- 5 Yr Annualized Total Return 9.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.66%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameICON EQUITY INCOME FUND
-
Fund Family NameSHELTONCAP
-
Inception DateNov 08, 2002
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Callahan
Fund Description
The Fund uses quantitative methodology to identify securities ICON believes are underpriced relative to value. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization, including convertible and preferred securities, and in securities issued by dividend-paying companies. This strategy may not be changed unless Fund shareholders are given at least 60 days prior notice. To manage the risk of holding equity securities, the Fund may write call options or purchase put options on securities or securities indexes.
The Fund may invest up to 25% of its assets in a single industry. The Fund may also invest in U.S. government agencies or government sponsored enterprises and investment-grade securities, although the Fund may invest up to 25% of its total assets in securities with a lower rating by both S&P and Moody’s.
ICON’s quantitative methodology calculates intrinsic value using average earnings per share, future earnings growth estimates, beta, and bond yield. This calculated intrinsic value for each individual stock is aggregated by industry and sector which enables ICON to identify value opportunities within industries and sectors. ICON then employs a tactical, rotation-based process that tilts the Fund toward industries and sectors ICON believes will outperform.
ICON believes that equity markets go through themes over time, simply stated, stocks in industries that were market leaders at one time tend to become overpriced relative to intrinsic value, and stocks in industries that were not in favor tend to drop below intrinsic value. In general, the Fund will sell securities in industries ICON believes are overpriced and buy securities in industries we believe are underpriced. We believe ICON’s combination of industry rotation and bottom-up valuation distinguishes us from other investment managers.
The Fund will not change its principal investment strategy without providing shareholders at least 60 days’ notice.
IEQAX - Performance
Return Ranking - Trailing
| Period | IEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.8% | 10.1% | 26.8% | 97.81% |
| 1 Yr | 13.5% | 13.5% | 37.4% | 97.81% |
| 3 Yr | 0.5%* | -7.3% | 8.1% | 96.69% |
| 5 Yr | 9.4%* | 1.8% | 15.3% | 71.78% |
| 10 Yr | 6.9%* | 1.8% | 15.0% | 84.43% |
* Annualized
Return Ranking - Calendar
| Period | IEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.1% | -6.6% | 33.6% | 98.36% |
| 2022 | -23.9% | -44.4% | -9.8% | 48.07% |
| 2021 | 9.9% | -24.1% | 18.9% | 56.14% |
| 2020 | 12.7% | -10.9% | 60.4% | 42.33% |
| 2019 | 22.6% | 5.9% | 36.4% | 18.71% |
Total Return Ranking - Trailing
| Period | IEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.8% | 10.1% | 26.8% | 97.81% |
| 1 Yr | 13.5% | 13.5% | 37.4% | 97.81% |
| 3 Yr | 0.5%* | -7.3% | 8.1% | 96.69% |
| 5 Yr | 9.4%* | 1.8% | 15.3% | 71.78% |
| 10 Yr | 6.9%* | 1.8% | 15.0% | 84.43% |
* Annualized
Total Return Ranking - Calendar
| Period | IEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.0% | 1.4% | 34.9% | 98.36% |
| 2022 | -4.0% | -43.2% | -3.8% | 1.10% |
| 2021 | 26.3% | -24.1% | 26.7% | 1.17% |
| 2020 | 24.7% | -5.3% | 62.8% | 12.88% |
| 2019 | 24.0% | 12.4% | 52.6% | 81.94% |
NAV & Total Return History
IEQAX - Holdings
Concentration Analysis
| IEQAX | Category Low | Category High | IEQAX % Rank | |
|---|---|---|---|---|
| Net Assets | 46 M | 10.9 M | 130 B | 93.99% |
| Number of Holdings | 54 | 5 | 8145 | 16.39% |
| Net Assets in Top 10 | 22.3 M | 7.75 M | 26.1 B | 94.54% |
| Weighting of Top 10 | 47.22% | 20.0% | 106.4% | 87.43% |
Top 10 Holdings
- Ingredion Incorporated COM USD0.01 5.56%
- ING Groep N.V. SPON ADR 1 ORD SHS EUR0.24 5.55%
- Amgen Inc. COM USD0.0001 5.46%
- Lockheed Martin Corporation COM USD1.00 5.45%
- DTE Energy Co. COM NPV 5.09%
- The Chemours Company LLC COM USD0.01 WI 4.44%
- Nexstar Media Group Inc COM USD0.01 CL'A' 4.14%
- Leggett Platt Inc. COM USD0.01 3.89%
- KeyCorp COM USD1.00 3.82%
- The Western Union Company COM STK USD0.01 3.82%
Asset Allocation
| Weighting | Return Low | Return High | IEQAX % Rank | |
|---|---|---|---|---|
| Stocks | 73.85% | 0.00% | 100.04% | 81.42% |
| Bonds | 11.14% | 0.00% | 170.81% | 4.92% |
| Other | 9.83% | -57.83% | 9.83% | 0.55% |
| Preferred Stocks | 4.32% | 0.00% | 4.55% | 2.19% |
| Cash | 1.85% | 0.00% | 15.20% | 25.14% |
| Convertible Bonds | 0.00% | 0.00% | 3.88% | 71.58% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | IEQAX % Rank | |
|---|---|---|---|---|
| Financial Services | 28.83% | 9.56% | 42.24% | 1.65% |
| Consumer Cyclical | 16.82% | 1.15% | 24.72% | 2.20% |
| Industrials | 11.34% | 1.80% | 14.87% | 34.62% |
| Healthcare | 10.59% | 2.06% | 19.02% | 90.66% |
| Communication Services | 9.32% | 1.90% | 13.69% | 19.23% |
| Technology | 6.75% | 1.75% | 32.38% | 97.25% |
| Utilities | 6.12% | 0.00% | 15.29% | 4.40% |
| Basic Materials | 5.69% | 0.00% | 8.62% | 19.78% |
| Consumer Defense | 2.35% | 0.47% | 14.80% | 95.60% |
| Energy | 2.18% | 0.00% | 31.98% | 80.22% |
| Real Estate | 0.00% | 0.00% | 28.04% | 98.35% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | IEQAX % Rank | |
|---|---|---|---|---|
| US | 73.85% | 0.00% | 100.04% | 79.78% |
| Non US | 0.00% | 0.00% | 32.92% | 38.80% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | IEQAX % Rank | |
|---|---|---|---|---|
| Corporate | 43.79% | 0.00% | 94.65% | 15.85% |
| Government | 16.07% | 0.00% | 58.00% | 33.88% |
| Cash & Equivalents | 1.85% | 0.00% | 15.20% | 21.31% |
| Derivative | 0.00% | -0.40% | 4.50% | 36.07% |
| Securitized | 0.00% | 0.00% | 24.35% | 68.85% |
| Municipal | 0.00% | 0.00% | 11.59% | 54.10% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | IEQAX % Rank | |
|---|---|---|---|---|
| US | 11.14% | 0.00% | 167.55% | 4.92% |
| Non US | 0.00% | 0.00% | 3.26% | 28.42% |
IEQAX - Expenses
Operational Fees
| IEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.34% | 0.23% | 3.92% | 33.33% |
| Management Fee | 0.75% | 0.00% | 1.30% | 89.07% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 31.36% |
| Administrative Fee | 0.10% | 0.01% | 0.28% | 38.89% |
Sales Fees
| IEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | 2.78% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| IEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| IEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 25.00% | 0.18% | 300.02% | 62.94% |
IEQAX - Distributions
Dividend Yield Analysis
| IEQAX | Category Low | Category High | IEQAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.43% | 0.00% | 8.81% | 14.21% |
Dividend Distribution Analysis
| IEQAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| IEQAX | Category Low | Category High | IEQAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.66% | -0.65% | 5.31% | 11.67% |
Capital Gain Distribution Analysis
| IEQAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.146 | OrdinaryDividend |
| Mar 28, 2024 | $0.143 | OrdinaryDividend |
| Dec 29, 2023 | $0.173 | OrdinaryDividend |
| Sep 29, 2023 | $0.197 | OrdinaryDividend |
| Jun 30, 2023 | $0.199 | OrdinaryDividend |
| Mar 31, 2023 | $0.173 | OrdinaryDividend |
| Dec 30, 2022 | $0.189 | OrdinaryDividend |
| Nov 30, 2022 | $1.578 | CapitalGainLongTerm |
| Sep 30, 2022 | $0.162 | OrdinaryDividend |
| Jun 30, 2022 | $0.131 | OrdinaryDividend |
| Mar 31, 2022 | $0.101 | OrdinaryDividend |
| Dec 31, 2021 | $0.101 | OrdinaryDividend |
| Dec 31, 2021 | $1.690 | CapitalGainShortTerm |
| Dec 31, 2021 | $0.560 | CapitalGainLongTerm |
| Sep 30, 2021 | $0.093 | OrdinaryDividend |
| Jun 30, 2021 | $0.096 | OrdinaryDividend |
| Mar 31, 2021 | $0.084 | OrdinaryDividend |
| Dec 31, 2020 | $0.375 | OrdinaryDividend |
| Sep 24, 2020 | $0.059 | OrdinaryDividend |
| Sep 24, 2020 | $1.080 | CapitalGainLongTerm |
| Jun 30, 2020 | $0.059 | OrdinaryDividend |
| Mar 31, 2020 | $0.040 | OrdinaryDividend |
| Dec 27, 2019 | $0.051 | OrdinaryDividend |
| Sep 30, 2019 | $0.046 | OrdinaryDividend |
| Jun 28, 2019 | $0.048 | OrdinaryDividend |
| Mar 29, 2019 | $0.026 | OrdinaryDividend |
| Dec 28, 2018 | $0.046 | OrdinaryDividend |
| Sep 28, 2018 | $0.011 | OrdinaryDividend |
| Jun 29, 2018 | $0.025 | OrdinaryDividend |
| Mar 29, 2018 | $0.020 | OrdinaryDividend |
| Dec 29, 2017 | $0.047 | OrdinaryDividend |
| Sep 29, 2017 | $0.034 | OrdinaryDividend |
| Jun 30, 2017 | $0.045 | OrdinaryDividend |
| Mar 31, 2017 | $0.039 | OrdinaryDividend |
| Dec 30, 2016 | $0.075 | OrdinaryDividend |
| Sep 30, 2016 | $0.032 | OrdinaryDividend |
| Jun 30, 2016 | $0.044 | OrdinaryDividend |
| Mar 31, 2016 | $0.046 | OrdinaryDividend |
| Dec 31, 2015 | $0.018 | OrdinaryDividend |
| Sep 30, 2015 | $0.048 | OrdinaryDividend |
| Jun 30, 2015 | $0.019 | OrdinaryDividend |
| Mar 31, 2015 | $0.002 | OrdinaryDividend |
| Dec 31, 2014 | $0.080 | OrdinaryDividend |
| Sep 30, 2014 | $0.039 | OrdinaryDividend |
| Jun 30, 2014 | $0.046 | OrdinaryDividend |
| Mar 31, 2014 | $0.059 | OrdinaryDividend |
| Dec 31, 2013 | $0.055 | OrdinaryDividend |
| Sep 30, 2013 | $0.032 | OrdinaryDividend |
| Jun 28, 2013 | $0.040 | OrdinaryDividend |
| Mar 28, 2013 | $0.037 | OrdinaryDividend |
| Dec 31, 2012 | $0.060 | OrdinaryDividend |
| Sep 28, 2012 | $0.039 | OrdinaryDividend |
| Jun 29, 2012 | $0.027 | OrdinaryDividend |
| Mar 30, 2012 | $0.022 | OrdinaryDividend |
| Dec 30, 2011 | $0.030 | OrdinaryDividend |
| Sep 30, 2011 | $0.016 | OrdinaryDividend |
| Jun 30, 2011 | $0.040 | OrdinaryDividend |
| Dec 31, 2010 | $0.045 | OrdinaryDividend |
| Jun 30, 2010 | $0.012 | OrdinaryDividend |
| Mar 31, 2010 | $0.042 | OrdinaryDividend |
| Jun 30, 2009 | $0.018 | OrdinaryDividend |
| Mar 31, 2009 | $0.097 | OrdinaryDividend |
| Dec 31, 2008 | $0.039 | OrdinaryDividend |
| Sep 30, 2008 | $0.031 | OrdinaryDividend |
| Jun 30, 2008 | $0.058 | OrdinaryDividend |
| Dec 17, 2007 | $0.534 | CapitalGainShortTerm |
| Dec 18, 2006 | $0.038 | OrdinaryDividend |
| Dec 18, 2006 | $0.567 | CapitalGainShortTerm |
| Dec 18, 2006 | $0.062 | CapitalGainLongTerm |
IEQAX - Fund Manager Analysis
Managers
Brian Callahan
Start Date
Tenure
Tenure Rank
May 30, 2019
3.01
3.0%
Brian Callahan is ICON’s Investment Committee member for separately managed accounts (SMAs) and institutional accounts. He first joined ICON in 2000 as a Research Analyst while attending Colorado State University. In 2007, he received a master’s in business administration from The Ohio State University and returned as a Research Analyst. In 2008, he became an Investment Committee member and Portfolio Manager.From 2008 until January 2011 he managed ICON’s separately managed accounts. From 2011 to 2014 Mr. Callahan was ICON’s Director of Marketing. From 2014 to 2018 Mr. Callahan managed ICON’s strategy based portfolios and tactical allocation portfolios .He was previously employed as a treasury administrator at Citi Fund Services . He holds a FINRA Series 7 registration.
Scott Callahan
Start Date
Tenure
Tenure Rank
May 30, 2019
3.01
3.0%
Scott Callahan joined ICON in 2005 as a Research Analyst and was promoted to Assistant Portfolio Manager in January 2006. He left ICON in August 2006 to pursue his MBA, which he received from New York University in 2008. Mr. Callahan became a Portfolio Manager in 2008. Mr. Callahan received a bachelor’s degree in psychology from the University of Colorado.
Donovan (Jerry) Paul
Start Date
Tenure
Tenure Rank
May 30, 2019
3.01
3.0%
Donovan “Jerry” Paul, CFA, joined ICON Advisers, Inc in July 2013 as a Portfolio Manager.He is Senior Vice President of Fixed Income and serves as Co-Portfolio Manager of the ICON Bond and ICON Risk-Managed Balanced Funds. Mr. Paul was named Morningstar’s Fixed Income Manager of the Year for 1999 while he managed high yield bonds for INVESCO. Mr. Paul’s professional investment experience includes over thirty eight years in fixed income portfolio management and research. Before joining ICON he was a senior vice president, director of fixed-income research and portfolio manager of INVESCO Funds Group (1994-2001), founder and managing partner of Quixote Capital Management, LLC, (2002-2009), partner of Essential Investment Partners, LLC, (2009-2011) and Senior Vice President Western Alliance Bancorporation (2012). He holds an MBA from the University of Northern Iowa and BBA from the University of Iowa. He holds the FINRA Series 7 and 63 registrations.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.19 | 26.6 | 6.51 | 2.41 |
