ICAP Performance — Infrastructure Capital Equity Income ETF
Data updated: 2026-07-24
ICAP returned +7.69% year to date and +27.36% over one year to May 2026. The annualised 3-year return is +19.46%. The fund beat its US Multi-Cap Value category average: $100 invested three years ago grew to $170, against $151 for the category, and to $127 over one year, against $117. Volatility over the past three years was 16.08% a year. In the 12 months to May 2026 the fund took in a net $39.3M, and assets reached $108.61M.
ICAP Growth of $100
What $100 invested in Infrastructure Capital Equity Income ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Multi-Cap Value category average over the same months.
| Period | ICAP | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $127 | $117 |
| 3 years (Jun 2023 – May 2026) | $170 | $151 |
| Since data start (Dec 2021 – May 2026) | $142 | $145 |
ICAP Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +7.69% |
| 1 year | +27.36% |
| 3 years (annualised) | +19.46% |
ICAP Annual Returns
Calendar-year total returns of Infrastructure Capital Equity Income ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +7.69% |
| 2025 | +15.90% |
| 2024 | +14.57% |
| 2023 | +8.70% |
| 2022 | −9.35% |
| 2021 (Dec–Dec) | +0.43% |
ICAP Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.6% | −0.9% | −5.5% | +10.0% | +0.9% | — | — | — | — | — | — | — |
| 2025 | +2.4% | −0.1% | −4.8% | −4.4% | +5.3% | +5.9% | +3.5% | +2.8% | +1.5% | −1.8% | +4.4% | +0.9% |
| 2024 | −2.7% | +0.2% | +4.9% | −2.7% | +4.6% | −1.1% | +7.6% | +1.7% | +3.5% | −1.6% | +6.9% | −6.5% |
| 2023 | +11.3% | −5.3% | −7.5% | +0.8% | −7.3% | +7.0% | +4.8% | −2.0% | −6.1% | −3.9% | +10.1% | +9.2% |
| 2022 | +1.6% | −1.4% | +3.9% | −5.1% | +5.3% | −11.6% | +7.1% | −3.5% | −14.7% | +11.1% | +6.3% | −5.3% |
| 2021 | — | — | — | — | — | — | — | — | — | — | — | +0.4% |
ICAP Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 16.08%
- 3-year Sharpe ratio: 0.93 (vs 4.5% risk-free rate)
- Best month: +10.13% (Nov 2023)
- Worst month: −6.51% (Dec 2024)
ICAP Fund Flows
Monthly money in and out of Infrastructure Capital Equity Income ETF, from SEC Form N-PORT.
- 12-month net flow: $39.3M
- 12-month gross sales (incl. reinvestments): $40.0M
- Sales ÷ redemptions: 60.19×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $8.5M | $0 | $8.5M |
| Apr 2026 | $2.7M | $0 | $2.7M |
| Mar 2026 | $2.1M | $665K | $1.4M |
| Feb 2026 | $5.0M | $0 | $5.0M |
| Jan 2026 | $12.2M | $0 | $12.2M |
| Dec 2025 | $2.8M | $0 | $2.8M |
| Nov 2025 | $1.3M | $0 | $1.3M |
| Oct 2025 | $3.4M | $0 | $3.4M |
| Sep 2025 | $681K | $0 | $681K |
| Aug 2025 | $677K | $0 | $677K |
| Jul 2025 | $660K | $0 | $660K |
| Jun 2025 | $0 | $0 | $0 |
ICAP Assets Under Management
Net assets of Infrastructure Capital Equity Income ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $108.61M |
| 2026-02-28 | $93.80M |
| 2025-11-30 | $73.57M |
| 2025-08-31 | $66.85M |
| 2025-05-31 | $59.45M |
| 2025-02-28 | $61.56M |
| 2024-11-30 | $60.81M |
| 2024-08-31 | $56.36M |
| 2024-05-31 | $53.22M |
| 2024-02-29 | $50.98M |
| 2023-11-30 | $48.90M |
| 2023-08-31 | $48.68M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.