ISTAX Fees and Costs — ICON Equity Fund, Investor Class
Data updated: 2026-08-31
The net expense ratio is 1.41%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.40% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $25K in broker commissions, 0.0767% of average net assets, and portfolio turnover was 23%.
ISTAX Fees and Expenses
Annual operating expenses and sales charges of ISTAX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.40% |
| Gross expense ratio | 1.41% |
| Fee waiver | — |
| Net expense ratio | 1.41% |
| 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 |
ISTAX Costs Over Time
On $10,000 invested in ISTAX, assuming 5% a year before costs, total costs come to $921 over 5 years, cutting the return by 1.56% 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 1.41%) | $148 | $460 | $793 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $24 | $85 |
| Total costs | $156 | $509 | $921 |
| Value after costs | $10,344 | $11,068 | $11,842 |
| Impact on return, per year | 1.56% | 1.56% | 1.56% |
ISTAX 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): 0.0767%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $546K
- Net income from securities lending: $3K (0.008% of average net assets)
ISTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER | $10K | 39.04% |
| FERRETTI GROUP | $6K | 22.44% |
| ROYAL BANK OF CANADA CAPITAL MARKETS | $5K | 19.51% |
| CAPITAL INSTITUTIONAL SERVICES (CAPIS) | $3K | 10.07% |
| HSBC SECURITIES | $2K | 8.10% |
| THE BENCHMARK COMPANY LLC | $215 | 0.84% |
ICON Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IOLZX | Institutional Class | 1.16% | — |
| ISTAX | Investor Class | 1.41% | — |
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.