ICAP
InfraCap Equity Income Fund ETF
ICAP is actively managed to provide exposure to global stocks that pay dividends during normal market conditions. The fund seeks to maximize income and pursue total return.
US
EQUITY
Active
MANAGEMENT STYLE
55.9 M
ASSETS UNDER MGMT
171 bp
EXPENSES
Fund Basics
| Fund sponsor | Virtus Investment Partners |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 29, 2021 |
| Assets (mns) | $56 |
| Expense ratio | 171 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CHEVRON CORP | 5.3 % |
| AMAZON.COM INC | 4.9 % |
| GOLDMAN SACHS GROUP INC | 4.5 % |
| EQUINIX INC | 4.5 % |
| KILROY REALTY CORP | 4.2 % |
| BROADCOM INC. | 3.7 % |
| M & T BANK CORP | 3.7 % |
| MPLX LP | 3.4 % |
| CITIGROUP INC | 3.4 % |
| APOLLO GLOBAL MANAGEMENT INC | 3.2 % |
Constituent Breakdown
| Number of holdings | 74 |
| Herfindahl-Hirschman Index | 1,135 |
| Wgt avg mkt cap (mns) | $224,058 |
| Large cap (>$10bn) | 77.9% |
| Mid cap ($2-10bn) | 18.0% |
| Small cap (<$2bn) | 4.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 106.5 % |
 |
CANADA | 3.8 % |
 |
BRITAIN | 1.4 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 21.3% | 32.1% | 12.7% | -- | -- | -- | 7.1% | Volatility | 14.2% | 15.5% | 17.4% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.06 | 68% |
| MSCI EAFE | 1.06 | 67% |
| MSCI Emg Mkts | 0.76 | 36% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.74% |
| ADV of underlying (mns) | $43,421 |
Technical Indicators
| Recent close | $25.98 |
| 30d moving avg. | $27.78 |
| Annualized volatility | 22.8% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 1.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ICAP |
Expenses vs. ICAP |
ALTAR Score™ vs. ICAP |
|---|---|---|---|---|
| EQWL | Invesco S&P 100 Equal Weight ETF | 26.0% | -146 bp | +0.2% |
| SPDG | SPDR Portfolio S&P Sector Neutral Dividend ETF | 25.6% | -166 bp | +1.2% |
| DIVZ | TrueShares Low Volatility Equity Income ETF | 25.1% | -106 bp | +1.4% |
| VYM | Vanguard High Dividend Yield Index ETF | 25.0% | -165 bp | +0.8% |
| MGV | Vanguard Mega Cap Value ETF | 24.9% | -164 bp | +0.5% |
| DLN | WisdomTree U.S. LargeCap Dividend Fund | 24.6% | -143 bp | -0.3% |
| DGRO | iShares Core Dividend Growth ETF | 24.2% | -163 bp | +0.4% |
| KBWB | Invesco KBW Bank ETF | 24.2% | -136 bp | +1.7% |
| PFM | Invesco Dividend Achievers ETF | 23.4% | -118 bp | -0.8% |
| SPYD | SPDR Portfolio S&P 500 High Dividend ETF | 23.2% | -164 bp | +3.1% |
Risk and Returns: ICAP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/18/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ICAP
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
ICAP
6.3%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. ICAP's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places ICAP in the 59th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ICAPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| ICAP (171 bp) Percentile rank | 99 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ICAP | 171.0 | 73.7 | 244.7 |
| Peer Avg. | 66.5 | 47.6 | 114.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .