ICON Consumer Staples Fund (ICRAX)

ICON Consumer Staples Fund (ICRAX) is a sector stock fund. It invests in common stocks of companies which are operated in consumer staples. The companies are Procter & Gamble Co, Wal-Mart Stores Inc, etc.

ICON Consumer Staples Fund (ICRAX)

The investment objective of ICON Consumer Staples Fund is to provide long-term capital appreciation. The mutual fund uses its assets to purchase equity securities of companies in the Consumer Staples sector. Equity securities in which the fund may invest include common stocks and preferred stocks of companies of any market capitalization. It is non-diversified.

Fund Details
ICON Consumer Staples Fund
ICRAX fund
  • Fund Inception Date: 09/29/2010
  • Ticker Symbol: ICRAX
  • CUSIP: 44929K291
  • Beta (3yr): 0.48
  • Rank in category (YTD): 60%
  • Category: Consumer Defensive
  • Distribution: 1.38%
  • Capital Gains: 0%
  • Expense Ratio: 1.77%
  • Net Assets: $ 42.6 million
  • Number of Years Up: 2 years
  • Number of Years Down: 0 years
  • Annual Turnover Rate: 81.81% 
Updated on 5/17/2013

The fund manager is Robert Straus. This sector stock fund has total net assets of $42.6 million. Its dividend yield is 1.38%. This yield is distributed quarterly. The first distribution for 2013 period was given in March 27, 2013 in the amount of $0.05. It has expense ratio of 1.77%. There is a 0.25% 12b1 fee and 5.75% front-end sales load fee for investing in this fund. The annual holdings turnover as of April 9, 2013 is 81.81%.

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S&P 1500 Consumer Staples and S&P 1500 Index are the fund’s benchmarks. It uses Large Growth investment style. As of April 14, 2013, the fund has a YTD return of 12.80%. It is ranked with 1-star rating by Morningstar. The fund has returned 10.12% in year 2012 and 9.67% in year 2011. Based on the load adjusted returns, the performance of this ICON Consumer Staples fund is listed as below:
  • 1-year: 8.56%
  • 3-year: 11.18%
  • 5-year: 5.30%
  • 10-year: 7.30%
This equities mutual fund is also available in Class S (ICLEX) and Class C (ICLCX). The annual expense ratio of S Class is 1.51% and it has returned 7.80% since the inception in 1997.

With a minimum initial investment of $1,000 for either brokerage or retirement account, investors can start investing in this fund. The brokerages that provide this fund are limited to 25 brokerages, such as Pershing FundCenter, Ameriprise SPS Advantage, JP Morgan, Ameriprise Brokerage, TD Ameritrade Retail, TIAA-CREF NTF, Merrill Edge, Raymond James, etc.

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As of the fourth quarter of 2012, the top equity holdings of this ICRAX fund are Wal-Mart Stores Inc (9.03%), Philip Morris International Inc (8.21%), Costco Wholesale Corp (7.40%), Kimberly-Clark Corp (5.79%), Lorillard Inc (4.82%), Coca-Cola Co (4.63%), Procter & Gamble Co (4.63%), Reynolds American Inc (4.38%), CVS Caremark Corp (3.83%) and Nestle SA (3.66%). These are top 10 out of a total of 33 holdings. The top industries are Tobacco (20.68%), Hypermarkets & Super Centers (16.42%) and Household Products (13.51%).

According to the fund prospectus, the main investment risks are industry and concentration risk, non-diversified portfolio risk, small and mid-size company risk and stock market risk.

Disclosure: No Position


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