ICON Flexible Bond Fund Investor
IOBAX
NASDAQ- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- ICON Flexible Bond Fund Investor Class (IOBAX) is an open-end mutual fund that seeks maximum total return through a flexible, opportunistic investment approach in the fixed income markets. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in a broad range of U.S. dollar-denominated fixed income securities, including investment-grade corporate bonds, U.S. government and agency securities, high-yield bonds (up to 35% of assets), mortgage-backed securities, asset-backed securities, closed-end funds, preferred shares, and cash equivalents; it employs bottom-up valuation-based selection, active sector and credit allocations, thematic strategies such as credit upgrades, merger arbitrage, bond tenders, and small-cap/low-liquidity opportunities, with a weighted average effective duration of approximately 2.14 years and maturity of 7.15 years as of September 30, 2024. Launched on September 30, 2010, the Fund is managed by ICON Advisers, Inc., a boutique investment firm founded in 1986 by Dr. Craig Callahan and headquartered in Greenwood Village, Colorado, which serves as sub-adviser under Shelton Capital Management following a 2020 restructuring transaction where Shelton became the primary investment advisor to the ICON Funds lineup, enabling expense reductions of approximately $1.8 million annually and operational streamlining while ICON retains daily portfolio management. The Fund operates within the multisector bond category, targeting institutional and individual investors seeking diversified fixed income exposure with lower volatility relative to peers, as evidenced by its risk metrics including a 3-year standard deviation of 4.61% and beta of 0.48 versus the multisector bond category; it maintains total net assets of about $398.51 million, with the Investor Class at $26.15 million and a net expense ratio of 1.15%. Recent developments include sustained 5-star Morningstar ratings for the Institutional Class (IOBZX) as of October 31, 2024, among 325 multisector bond funds for 3 years, 270 for 5 years, and 189 for 10 years, alongside a prospectus update effective May 1, 2025, and an expense limitation agreement by Shelton Capital Management capping Institutional Class expenses at 0.75% until that date, reflecting ongoing commitment to cost efficiency amid a dynamic fixed income environment.