ICON Advisers is a boutique firm based in Greenwood Village, Colorado, and since its inception, ICON has employed a unique and disciplined investment approach to the way we manage assets. In 1986, Dr. Craig Callahan founded ICON using a proprietary valuation model to systematically determine the intrinsic value of individual companies.
Using the fundamentals of finance we calculate intrinsic value by taking average earnings per share, future earnings growth estimates, beta, and bond yield as opposed to using what we believe to be overly simplistic measures such as price-to-earnings (P/E) and price-to-book (P/B). This process enables us to identify value opportunities within industries and sectors. By going where the numbers pull us, we’re able to select discounted companies within industries that show potential and rotate among these industries through changing market conditions.
Since its inception, ICON has kept to our consistent and disciplined methodology, and everything we do is derived from the value we place on integrity and good corporate governance. As a dedicated partner, ICON offers a high level of service that includes access to Portfolio Managers, consistent industry thought leadership, and a dedicated staff of sales and client service support.
Today, ICON offers a diverse lineup of Mutual Funds, Tactical Allocation Portfolios, and Strategy Based Investing Portfolios providing a wide range of investment options. With our broad scope and commitment to uncovering value across the market, our Funds and Portfolios can accommodate a wide range of investment needs.
ICON Advisers by the Numbers
Over 30 Years
tactical allocation portfolios
7 Mutual Funds
sector, diversified, and fixed income
strategy based investing portfolio
approximate domestic equity universe
ICON systematically analyzes fundamental data in an attempt to pinpoint sector and industry leadership. We believe markets experience themes which typically change every one to two years. The years 2015-2016 are a clear example of a sector theme change from year-to-year. We can see that leading sectors, with returns above the benchmark in 2015, have, in-turn, some of the lowest returns versus the benchmark in 2016. Consumer Discretionary, for example, was the top performing sector in 2015 before dropping, along with Health Care, to the bottom third in sector returns versus the benchmark for 2016. Conversely, Energy was the lowest performing sector in 2015 but had the highest return in 2016. For more detailed information on historic sector themes in the market, see our “Markets Have Themes” piece available at iconadvisers.com.
In combining these observed market themes and our disciplined valuation methodology, we employ a tactical, rotation-based process that tilts our portfolios toward the industries, sectors & countries we believe will be the next market leaders in an attempt to outperform passive investments. We believe this combination of a systematic investment methodology and active rotation distinguishes ICON from other investment managers. We take a consistent and disciplined approach while focusing on making clear, objective investment decisions.
With decades of combined financial industry experience, our tenured and knowledgable investment committee applies its expertise within the ICON System.
For more information, call the ICON Sales Desk at 1-800-828-4881.
Investing in securities involves inherent risks, including the risk that you can lose the value of your investment. There is no assurance that the investment process will consistently lead to successful results. An investment concentrated in sectors and industries may involve greater risk and volatility than a more diversiﬁed investment.
ICON’s value-to-price ratio is a ratio of the intrinsic value, as calculated using ICON’s proprietary valuation methodology, of a broad range of domestic and international securities within ICON’s system as compared to the current market price of those securities. To analyze intrinsic value, the ICON valuation methodology relies on the integrity of publicly released ﬁnancial statements.
EPS: Earnings from ongoing operations; earnings per share equals total earnings divided by the number of shares outstanding. Growth Rate: An expected rate of growth per year for earnings per share over the next five years. Beta: A measure of relative volatility; beta is the covariance of a stock relative to the entire market. For example, the Standard & Poor’s Composite 1500 Index has a beta coefficient of 1. Any individual stock with a beta greater than 1 would be more volatile than the Index. Bond Yield represents an opportunity cost in the valuation model.
ICON’s value-based investing model is an analytical, quantitative approach to investing that employs various factors, including projected earnings growth estimates and bond yields, in an effort to determine whether securities are over- or underpriced relative to ICON’s estimates of their intrinsic value. ICON’s value approach involves forward-looking statements and assumptions based on judgments and projections that are neither predictive nor guarantees of future results. Value readings are contingent on several variables including, without limitation, earnings, growth estimates, interest rates and overall market conditions. Although valuation readings serve as guidelines for our investment decisions, we retain the discretion to buy and sell securities that fall beyond these guide-lines as needed. Value investing involves risks and uncertainties and does not guarantee better performance or lower costs than other investment methodologies.
Active Share measures the percentage of a portfolio that is different from the benchmark index.
The unmanaged Standard & Poor’s Composite 1500 (S&P 1500) Index is a broad-based capitalization-weighted index comprising 1,500 stocks of Large-cap, Mid-cap, and Small-cap U.S. companies. The Standard and Poor’s (S&P) 1500 Consumer Discretionary Index is an unmanaged capitalization-weighted index comprising companies in the Consumer Discretionary sector as determined by S&P. The Standard and Poor’s (S&P) 1500 Healthcare Index is an unmanaged capitalization-weighted index comprising companies in the Healthcare sector as determined by S&P. The Standard and Poor’s (S&P) 1500 Materials Index is an unmanaged capitalization-weighted index comprising companies in the Materials sector as determined by S&P. The Standard and Poor’s (S&P) 1500 Energy Index is an unmanaged capitalization-weighted index comprising companies in the Energy sector as determined by S&P.
Price/Earnings Ratio is the price of a stock divided by its earnings per share. Price/Book Ratio is the ratio of a stock’s price to its book value per share.
Consider the investment objectives, risks, charges, expenses, and share classes of each ICON Fund carefully before investing. The prospectus, summary prospectus and the statement of additional information contain this and other information about the Funds; please read the prospectus, summary prospectus and the statement of additional information carefully before investing.
Please visit ICON online at www.InvestwithICON.com or call 1-800-828-4881 for the most recent copy of ICON’s Form ADV, Part 2.
ICON Advisers, Inc. is the adviser to the ICON Funds. ICON Distributors, Inc. is the distributor of the ICON Funds. ICON Advisers, Inc. and ICON Distributors, Inc. are affiliates.
© 2021 ICON AdvisersSM
ICON Advisers at a glance
active, tactical industry rotation
do not speculate on unpredictable
market or interest rate events
ICON Advisers, Inc.
8480 E Orchard Road, Suite 1200
Greenwood Village, CO 80111
Investing in securities involves inherent risks, including the risk that you can lose the value of your investment. There is no assurance that the investment process will consistently lead to successful results.
Consider the investment objectives, risks, charges, expenses, and share classes of each ICON Fund carefully before investing. The prospectus contains this and other information about the Funds; please read the prospectus and carefully before investing. RFS Partners, Distributor.
ICON Funds are offered only to U.S. citizens or residents of the U.S., and the information on this website is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any ICON Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.
ICON Advisers, Inc. is the sub-adviser to the ICON Funds. RFS Partners is the distributor of the ICON Funds.