Fund Evaluator:
ICON Utilities and Income Inv (ICTVX)
Follow This Fund
Best Performing in Utilities Over the Last Year
| 19.3% | ICON Utilities and Income Inv (ICTVX) |
| 15.5% | Fidelity Advisor Utilities Z (FFUZX) |
| 15.4% | Fidelity Select Utilities (FSUTX) |
| 15.2% | Hennessy Gas Utility Investor (GASFX) |
| 15.0% | American Century Utilities Inv (BULIX) |
Fund Details
ICON Utilities and Income Inv Overview
ICON Utilities and Income Inv (ICTVX) is an actively managed Sector Equity Utilities fund. ICON Funds launched the fund in 2010.
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 Utilities 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 Utilities and Income Inv (ICTVX)
There are 3 members of the management team with an average tenure of 7.09 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 Utilities TR index with a weighting of 100%. ICON Utilities and Income Inv has 22 securities in its portfolio. The top 10 holdings constitute 54.2% 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 Utilities and Income Inv is part of the Equity global asset class and is within the Sector Equity fund group. ICON Utilities and Income Inv has 5.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.8%. There is 5.6% 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 Utilities and Income Inv has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $517 million average for the Utilities 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.
ICTVX 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 Utilities and Income Inv expense ratio is high compared to funds in the Utilities category. ICON Utilities and Income Inv has an expense ratio of 1.92%, which is 73% higher than its category average, making the fund expense ratio grade a F. 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 Utilities and Income Inv has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 53% for the Utilities category.
Recently, in the month of June 2026, ICON Utilities and Income Inv returned 2.2%, which earned it a grade of D, as the Utilities category had an average return of 2.1%. 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 Utilities and Income Inv has a trailing yield of 1.31%, which is below the 3.02% category average. The fund normally distributes its income quarterly 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 Utilities and Income Inv Grades
Year to date, the fund has returned 12.9%, 4.4 percentage points better than the category, which translates into a grade of A. The fund has returned 19.3% over the past year (grade of A), 12.0% over the past three years (grade of D) and 6.4% per year over the past five years (grade of F) and 7.6% per year over the past 10 years (grade of D).
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ICTVX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ICTVX Return (NAV) | 2.2% | -0.1% | 19.3% | 12.0% | 6.4% | 7.6% |
| ICTVX Grade | D | C | A | D | F | D |
| +/- Category | 0.0% | 0.1% | 4.1% | -2.3% | -3.6% | -1.0% |
| Utilities Avg | 2.1% | -0.2% | 15.3% | 14.3% | 10.0% | 8.6% |
| ICTVX Tax Cost Ratio | na | na | 0.6% | 0.8% | 1.6% | 2.1% |
ICTVX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ICTVX Return (NAV) | 12.9% | 14.9% | 15.2% | -12.6% | -1.3% | 21.2% | 1.7% | 21.9% | 3.6% | 7.8% | 22.2% |
| ICTVX Grade | A | C | D | F | F | A | C | D | B | F | A |
| +/- Category | 4.4% | 0.2% | -6.0% | -8.2% | -2.0% | 5.3% | 1.3% | -1.6% | 1.2% | -4.5% | 6.6% |
| Utilities Avg | 8.4% | 14.7% | 21.2% | -4.4% | 0.6% | 16.0% | 0.5% | 23.5% | 2.4% | 12.3% | 15.6% |
| Risk Measures | |
| Standard Deviation: | 13.7% |
| Total Risk Index: | 1.13 - Above Average |
| Category Risk Index: | 0.94 - Low |
| Category Risk Grade: | A (20% Rank) |
| Beta: | 0.36 |
| R-Squared: | 11% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $23 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 19% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.1 years | |||
| Average Tenure: 7.1 years | |||
| Managers (Year): Callahan Brian (2019), Callahan Scott (2019), Callahan Craig (2019) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 54.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 5.6% |
Portfolio Allocation |
|
| Domestic Stock: | 93.8% |
| Foreign Stock: | 5.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | ICON Funds |
| Phone Number: | 800-764-0442 |
| Website: | WWW.SHELTONCAP.COM |
| Status: | Open |
| Inception Date: | September 30, 2010 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.11% |
| Share Class: | ICON Utilities and Income Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
