Fund Evaluator:
ICON Health and Information Tech Instl (ICTEX)
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Fund Details
ICON Health and Information Tech Instl Overview
ICON Health and Information Tech Instl (ICTEX) is an actively managed Sector Equity Technology fund. ICON Funds launched the fund in 1997.
The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies in the Information Technology and Health Care sectors. Equity securities in which the fund may invest include common stocks and preferred stocks of companies of any market capitalization. It is non-diversified.
About ICON Health and Information Tech Instl (ICTEX)
There are 3 members of the management team with an average tenure of 7.18 years: Brian Callahan (2019), Scott Callahan (2019), Craig Callahan (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P Composite 1500 (TR) USD index with a weighting of 100% and S&P 1500 Information Technology TR index with a weighting of 100%. ICON Health and Information Tech Instl has 29 securities in its portfolio. The top 10 holdings constitute 54.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
ICON Health and Information Tech Instl is part of the Equity global asset class and is within the Sector Equity fund group. ICON Health and Information Tech Instl has 7.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.2%. There is 7.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ICON Health and Information Tech Instl has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $93 million in total assets, which is below the $1 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ICTEX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ICON Health and Information Tech Instl expense ratio is high compared to funds in the Technology category. ICON Health and Information Tech Instl has an expense ratio of 1.30%, which is 6% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ICON Health and Information Tech Instl has a portfolio turnover rate of 42%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Technology category.
Recently, in the month of July 2026, ICON Health and Information Tech Instl returned -2.2%, which earned it a grade of A, as the Technology category had an average return of -8.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
ICON Health and Information Tech Instl has a trailing yield of 0.00%, which is below the 0.05% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ICON Health and Information Tech Instl Grades
Year to date, the fund has returned 30.1%, 8.7 percentage points better than the category, which translates into a grade of B. The fund has returned 46.1% over the past year (grade of A), 22.7% over the past three years (grade of D) and 9.8% per year over the past five years (grade of D) and 16.1% per year over the past 10 years (grade of F).
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ICTEX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ICTEX Return (NAV) | -2.2% | 10.4% | 46.1% | 22.7% | 9.8% | 16.1% |
| ICTEX Grade | A | A | A | D | D | F |
| +/- Category | 6.4% | 3.6% | 11.4% | -4.1% | -2.8% | -4.7% |
| Technology Avg | -8.6% | 6.8% | 34.7% | 26.9% | 12.7% | 20.8% |
| ICTEX Tax Cost Ratio | na | na | 4.4% | 2.8% | 3.3% | 3.4% |
ICTEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ICTEX Return (NAV) | 30.1% | 17.3% | 13.7% | 13.4% | -19.9% | 17.7% | 34.0% | 43.7% | -10.9% | 32.5% | 12.5% |
| ICTEX Grade | B | F | F | F | A | C | F | C | F | F | B |
| +/- Category | 8.7% | -7.4% | -14.6% | -36.2% | 18.3% | 0.5% | -22.9% | 2.4% | -7.0% | -4.8% | 1.6% |
| Technology Avg | 21.4% | 24.7% | 28.3% | 49.6% | -38.2% | 17.2% | 56.9% | 41.2% | -3.9% | 37.4% | 10.8% |
| Risk Measures | |
| Standard Deviation: | 18.7% |
| Total Risk Index: | 1.52 - High |
| Category Risk Index: | 0.74 - Low |
| Category Risk Grade: | A (8% Rank) |
| Beta: | 1.30 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $95 Mil |
| Fund Total Assets: | $ 94 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 42% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.2 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Callahan Brian (2019), Callahan Scott (2019), Callahan Craig (2019) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 29 |
| % in Top 10 Holdings: | 54.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 7.6% |
Portfolio Allocation |
|
| Domestic Stock: | 92.2% |
| Foreign Stock: | 7.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | ICON Funds |
| Phone Number: | 800-764-0442 |
| Website: | WWW.SHELTONCAP.COM |
| Status: | Open |
| Inception Date: | February 19, 1997 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.30% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | ICON Health and Information Tech Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
