ICBAX Fees and Costs — ICON Natural Resources & Infrastructure Fund, Investor Class
Data updated: 2026-08-31
The net expense ratio is 1.56%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.31% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.0M in broker commissions, 0.9059% of average net assets, and portfolio turnover was 154%.
ICBAX Fees and Expenses
Annual operating expenses and sales charges of ICBAX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.56% |
| Fee waiver | — |
| Net expense ratio | 1.56% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ICBAX Costs Over Time
On $10,000 invested in ICBAX, assuming 5% a year before costs, total costs come to $1,498 over 5 years, cutting the return by 2.59% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.56%) | $164 | $503 | $859 |
| Trading costs (broker commissions) | $95 | $292 | $499 |
| Lost growth on money paid in costs | $0 | $40 | $139 |
| Total costs | $259 | $835 | $1,498 |
| Value after costs | $10,241 | $10,741 | $11,265 |
| Impact on return, per year | 2.59% | 2.59% | 2.59% |
ICBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.9059%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): $2.4M
- Portfolio turnover (prospectus): 154%
- Securities on loan, average value: $5.3M
- Net income from securities lending: $56K (0.049% of average net assets)
ICBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROYAL BANK OF CANADA CAPITAL MARKETS | $445K | 41.18% |
| PIPER SANDLER | $423K | 39.14% |
| CAPITAL INSTITUTIONAL SERVICES (CAPIS) | $151K | 13.94% |
| THE BENCHMARK COMPANY LLC | $51K | 4.75% |
| HSBC SECURITIES | $6K | 0.56% |
| FERRETTI GROUP | $5K | 0.43% |
ICBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| THE BENCHMARK COMPANY LLC | $2.4M | 100.00% |
ICON Natural Resources & Infrastructure Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ICBMX | Institutional Class | 1.31% | — |
| ICBAX | Investor Class | 1.56% | — |
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.