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Standard & Poor's Composite 1500 Index

In 1994, Standard & Poor's (S&P) created a new benchmark by combining the MidCap 400 Index, its SmallCap 600 Index, and the popular large-cap S&P 500 Index. Called the S&P Composite 1500 Index (or S&P 1500 Index), it first comprised 115 industries. Several years later, the index had increased to 123 industries. In April 2006, S&P increased the number of industries in the S&P 1500 to 154* to reflect today’s business environment and economic areas.

We believe the S&P 1500 Index provides an appropriate benchmark for ICON’s Multi Cap investment options and is gaining ground as an effective measure of the U.S. equities market. The S&P 1500 Index complements ICON's industry rotation system and offers a broad market index comprising 1,500 U.S. stocks representative of all market capitalizations.

Composition of the S&P 1500 Index
The S&P 1500 Index is made up of small-cap, mid-cap, and large-cap stock indexes and covers approximately 85% of the U.S. equity market.
 

The S&P 1500 SuperComposite Index covers approximately 85% of the U.S. equity market. Percentages are based on data provided by Standard & Poors as of 12/31/08.

Index Correlation Comparison
Below is a table that demonstrates the correlation of the S&P 1500 Index to other market indexes for the 10-year period ended 12/31/08. As you can see, it is almost perfectly correlated to other broad-market equity indexes.

Index Description

S&P Composite 1500 Index

S&P 500 Index

Russell 3000 Index

Dow Jones Wilshire 5000 Index (FC)

S&P Composite 1500 Index

1.00

      

S&P 500 Index

1.00

1.00

    

Russell 3000 Index

1.00

0.99

1.00

  

Dow Jones Wilshire 5000 Index (FC)

0.99

0.98

1.00

1.00


Based on historic monthly total return data for each respective index.
Data Source: FactSet Research Systems, Inc.
(FC) Full Market Capitalization, not float-adjusted

S&P 1500 Index Covers the Equity Market
Since it measures the performance of widely available, liquid stocks, we maintain that the S&P 1500 Index provides the appropriate broad market benchmark for investors seeking to replicate the performance of the U.S. equity market.

 

Large-Cap Representation

Mid-Cap Representation

Small-Cap Representation

Percentage of U.S. Equity Market

Utilizes Global Industry Classification Standards (GICS)

S&P 1500 Composite Index

ü

ü

ü

85%

ü

S&P 500 Index

ü

    

75%

ü

S&P MidCap 400 Index

  

ü

  

7%

ü

S&P SmallCap 600 Index

    

ü

3%

ü

Russell 3000 Index

ü

ü

ü

98%

  

Dow Jones Wilshire 5000 Composite Index (full-cap)

ü

ü

ü

100%

  
Sources: Standard & Poor’s, Russell, Dow Jones, as of 12/31/08.
* As of December 31, 2009. This number may vary over time.

The unmanaged Standard & Poor’s Composite 1500 (S&P1500) Index is a broad-based capitalization-weighted index comprising 1,500 stocks of Large-cap, Mid-cap, and Small-cap U.S. companies. The unmanaged Standard & Poor’s (S&P) 500 Index is a market value-weighted index of large-cap common stocks considered representative of the broad market. The unmanaged Standard & Poor’s (S&P) MidCap 400 Index is a widely recognized unmanaged mid-cap index of 400 domestic stocks chosen for their market capitalization, liquidity, and industry group representations. The unmanaged Standard & Poor’s (S&P) SmallCap 600 Index is an unmanaged index of 600 domestic stocks chosen for their market capitalization, liquidity, financial viability, and sector representation. The unmanaged Russell 3000 Index measures the performance of the largest 3,000 publicly traded U.S. companies. The Dow Jones Wilshire 5000 Composite Index measures the performance of all U.S.-headquartered equity securities with readily available price data. Individuals cannot invest directly in an index.

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, 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. ICON DistributorsSM, Distributor


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