ICON Equity Income Fund Investor
IEQAX
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ROIC.AI
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- ICON Equity Income Fund Investor (IEQAX) is an open-end mutual fund that normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization, including convertible and preferred securities, and in securities issued by dividend-paying companies; it may also invest in U.S. government agencies or government-sponsored enterprises and investment-grade securities, with up to 25% of total assets potentially in lower-rated securities. The fund emphasizes a value-oriented investment style targeting mid-cap companies, with allocations across financial services (28.38%), utilities (15.30%), healthcare (15.22%), industrials (7.76%), and basic materials (7.63%), primarily in U.S. stocks (79.32%), supplemented by U.S. bonds (9.68%), non-U.S. stocks (8.53%), and non-U.S. bonds (1.65%). Top holdings include DTE Energy Co. (6.01%), Amgen Inc. (5.80%), ING Groep NV (5.26%), Evergy Inc. (5.12%), and Nexstar Media Group Inc. (4.92%), representing 27.11% of the portfolio. Launched on May 31, 2006, the Investor Class shares carry a net expense ratio of 1.50%, a minimum initial investment of $1,000, and are available to U.S. investors, with total net assets of approximately $41.41 million and share class size of $11.79 million as of recent data. ICON Equity Income Fund Investor operates within the aggressive allocation category under Morningstar classification, managed by a team including Donovan (Jerry) Paul, Brian Callahan, and Scott Callahan since May 30, 2019. It is offered by ICON Advisers, Inc., a boutique investment firm founded in 1986 by Dr. Craig Callahan and headquartered in Greenwood Village, Colorado, which employs a proprietary valuation model for active, tactical industry-rotation strategies across its lineup of mutual funds, including blended sector funds, diversified equity funds, fixed income funds, tactical allocation portfolios, and strategy-based model portfolios. The firm focuses on determining intrinsic security values to tilt toward undervalued market areas, serving financial advisors and clients seeking value-based active management in domestic, international, and global portfolios. Recent developments for ICON Advisers include 2024 year-end distributions paid on November 29, 2024, across its fund family, with the Equity Income Fund Investor Class (IEQAX) reporting no short-term or long-term capital gains but contributing to ongoing income generation amid a trailing twelve-month dividend yield of 3.51%. The firm maintains a stable operational footprint with no reported acquisitions, partnerships, funding rounds, or major strategic shifts specific to IEQAX or the broader ICON Funds lineup in the last 1-2 years, continuing to emphasize its core valuation-driven approach without noted reorganizations or product launches. As of late 2025, the fund remains open to investments with daily pricing and a portfolio turnover of 62%, targeting long-term capital appreciation and income for investors.