The Icon Energy Fund (MUTF: ICENX) is an mutual fund fund that invests in common and preferred stocks of crude oil and gas companies of any size in the energy sector. The Icon Energy Fund may appeal to long-term IRA and 401k investors who believe that energy prices will continue to rise.
Here are the specifics for the Icon Energy Fund (Class S) for today’s mutual fund spotlight:
Investing Strategy: The Icon Energy Fund uses quantitative methodology to identify oil and gas stocks believed to be underpriced relative to their value. Nearly 97% of its assets are in stocks, and most of the remaining assets are in cash.
Expense Ratio: With a 1.24 expense ratio and no transaction fee, the Icon Energy Fun is low- to moderately-priced when compared with other funds in the large value category. It has a Morningstar rating of four stars.
Top 5 Holdings: The top five stocks in the Icon Energy Fund include oil and gasoline giants ExxonMobil Corporation (NYSE: XOM) at 24.40%, Chevron Corporation (NYSE: CVX) at 13.09%, and ConocoPhillips (NYSE: COP) at 9.41%, oil and gas technology supplier Schlumberger, Ltd. (NYSE: SLB) at 4.79%, and oilfield services supplier Halliburton Company (NYSE: HAL) at 3.45%
Returns: The fund’s 12-month return of 33.7% outperformed the broader markets 17% return during the period. Its 5-year loss of 37.3% underperformed the Dow Jones Industrial Average’s 9.73% return and the S&P 500’s 1.5% return during the period.
Other Fund Statistics
- Total Assets: $781.3 million (as of 6/10/11)
- Minimum Investment: $1,000
- Fund manager: Derek Rollingson
- Manager’s Tenure: Since May 2007
