Dynamic U.S. Opportunity Fund Class N (ICSNX)

Fund Assets	107.71M
Expense Ratio	1.647%
Min. Investment	$5,000
Turnover	131.00%
Dividend (ttm)	0.05
Dividend Yield	0.34%
Dividend Growth	-75.29%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	14.70
YTD Return	5.45%
1-Year Return	6.03%
5-Year Return	38.25%
52-Week Low	13.33
52-Week High	16.66
Beta (5Y)	0.75
Holdings	16
Inception Date	Dec 30, 2011

About ICSNX

Dynamic U.S. Opportunity Fund - Class N is a tactical allocation mutual fund focused on capital appreciation and income through an actively managed investment strategy. It primarily invests in equity exchange-traded funds (ETFs) that provide exposure to the U.S. equity market, guided by a proprietary quantitative framework to assess risk and reward across various industry segments as defined by the Global Industry Classification Structure (GICS). The fund may also utilize derivatives, such as futures and options, for portfolio management purposes. A distinguishing feature of this fund is its ability to make significant and frequent shifts in allocation among equity regions and bond sectors, aligning with the tactical allocation strategy recognized by Morningstar. This adaptive approach aims to capture opportunities and mitigate risks as market dynamics evolve. As of the most recent data, the fund holds a concentrated portfolio—typically around 19 holdings—with a majority allocated to domestic equities, complemented by a smaller allocation to foreign and fixed income assets. With an inception date of January 3, 2012, and assets under management surpassing $125 million, Dynamic U.S. Opportunity Fund - Class N plays a role in offering diversified, actively managed exposure to U.S. markets for investors seeking a flexible asset allocation vehicle within the mutual fund landscape.

• Fund Family: Innealta Capital
• Category: Tactical Allocation
• Performance Rating: High
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: ICSNX
• Share Class: Class N
• Index: S&P 500 TR

Performance

ICSNX had a total return of 6.03% in the past year, including dividends. Since the fund's inception, the average annual return has been 7.76%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
ICSIX	Class I	1.34%

Top 10 Holdings

94.37% of assets

Name	Symbol	Weight
State Street Communication Services Select Sector SPDR ETF	XLC	17.27%
State Street Technology Select Sector SPDR ETF	XLK	14.68%
First American Treasury Obligs X	FXFXX	11.87%
State Street Industrial Select Sector SPDR ETF	XLI	11.38%
State Street SPDR Bloomberg 1-3 Month T-Bill ETF	BIL	9.78%
State Street Financial Select Sector SPDR ETF	XLF	9.50%
State Street Utilities Select Sector SPDR ETF	XLU	5.25%
SELECT SECTOR SPDR TRUST (THE) - SS CONSUMER DISC	n/a	5.17%
State Street Health Care Select Sector SPDR ETF	XLV	4.78%
State Street SPDR S&P Aerospace & Defense ETF	XAR	4.70%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 22, 2025	$2.6275	Dec 23, 2025
Dec 18, 2024	$2.6764	Dec 19, 2024
Dec 18, 2023	$0.1111	Dec 19, 2023
Dec 19, 2022	$0.3127	Dec 20, 2022
Dec 20, 2021	$0.8145	Dec 21, 2021
Dec 21, 2020	$0.7634	Dec 21, 2020

Data Sources: Tiingo and Finnhub

Historical data is provided by Tiingo. Several fund data points are also provided by Finnhub.

Last checked:

Nov 14, 2026

Data Sources Report a data error