ICBAX Performance — ICON Natural Resources & Infrastructure Fund, Investor Class
Data updated: 2026-08-31
ICBAX returned +18.37% year to date and +39.87% over one year to Jun 2026. Annualised returns are +16.41% over 3 years and +9.51% over 5 years. The fund beat its US Mid-Cap Value category average: $100 invested three years ago grew to $158, against $148 for the category, and to $140 over one year, against $120. Volatility over the past three years was 17.39% a year. In the 12 months to Jun 2026 the fund lost a net $7.2M, and assets reached $134.48M.
ICBAX Growth of $100
What $100 invested in ICON Natural Resources & Infrastructure Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Value category average over the same months.
| Period | ICBAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $140 | $120 |
| 3 years (Jul 2023 – Jun 2026) | $158 | $148 |
| 5 years (Jul 2021 – Jun 2026) | $157 | $154 |
| Since data start (Jul 2020 – Jun 2026) | $255 | $230 |
ICBAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +18.37% |
| 1 year | +39.87% |
| 3 years (annualised) | +16.41% |
| 5 years (annualised) | +9.51% |
ICBAX Annual Returns
Calendar-year total returns of ICON Natural Resources & Infrastructure Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +18.37% |
| 2025 | +15.66% |
| 2024 | +11.72% |
| 2023 | +9.30% |
| 2022 | −9.81% |
| 2021 | +30.62% |
| 2020 (Jul–Dec) | +29.60% |
ICBAX 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 | +9.5% | +8.1% | −2.3% | +4.2% | −0.9% | −0.9% | — | — | — | — | — | — |
| 2025 | −5.7% | −4.0% | +3.8% | +5.0% | +3.9% | −4.5% | +4.1% | +5.8% | +4.9% | −0.2% | +1.1% | +1.3% |
| 2024 | +7.5% | +4.9% | −0.9% | −3.0% | +5.0% | −3.9% | +1.0% | −1.4% | +3.5% | −8.1% | +11.6% | −3.3% |
| 2023 | 0.0% | 0.0% | 0.0% | +10.9% | −3.4% | −1.1% | −4.9% | −2.4% | +5.1% | +6.9% | +7.1% | −7.7% |
| 2022 | +4.8% | +1.8% | −2.9% | −9.1% | +5.5% | −4.3% | −9.8% | −2.3% | +7.5% | 0.0% | 0.0% | +0.1% |
| 2021 | +2.5% | +14.8% | +1.4% | −1.0% | +2.2% | +3.6% | −3.0% | +1.0% | −3.1% | +4.3% | −2.5% | +8.3% |
| 2020 | — | — | — | — | — | — | +0.1% | +4.2% | +6.0% | +4.6% | +9.3% | +2.5% |
ICBAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 17.39%
- 3-year Sharpe ratio: 0.68 (vs 4.5% risk-free rate)
- Best month: +11.57% (Nov 2024)
- Worst month: −8.13% (Oct 2024)
ICBAX Fund Flows
Monthly money in and out of ICON Natural Resources & Infrastructure Fund, from SEC Form N-PORT.
- 12-month net flow: −$7.2M
- 12-month gross sales (incl. reinvestments): $7.5M
- Sales ÷ redemptions: 0.51×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $0 | $0 | $0 |
| May 2026 | $0 | $0 | $0 |
| Apr 2026 | $0 | $0 | $0 |
| Mar 2026 | $1.4M | $2.5M | −$1.1M |
| Feb 2026 | $1.6M | $3.9M | −$2.3M |
| Jan 2026 | $3.7M | $4.0M | −$311K |
| Dec 2025 | $341K | $345K | −$4K |
| Nov 2025 | $0 | $0 | $0 |
| Oct 2025 | $0 | $0 | $0 |
| Sep 2025 | $0 | $0 | $0 |
| Aug 2025 | $0 | $0 | $0 |
| Jul 2025 | $498K | $3.9M | −$3.4M |
ICBAX Assets Under Management
Net assets of ICON Natural Resources & Infrastructure Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $134.48M |
| 2026-03-31 | $134.65M |
| 2025-12-31 | $119.56M |
| 2025-09-30 | $123.75M |
| 2025-06-30 | $113.84M |
| 2025-03-31 | $118.55M |
| 2024-12-31 | $123.28M |
| 2024-09-30 | $127.91M |
| 2024-06-30 | $121.88M |
| 2024-03-31 | $127.60M |
| 2023-12-31 | $107.71M |
| 2023-09-30 | $107.66M |
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.