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

Fund Assets	107.71M
Expense Ratio	1.59%
Min. Investment	$5,000
Turnover	131.00%
Dividend (ttm)	2.63
Dividend Yield	17.30%
Dividend Growth	-1.83%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	15.19
YTD Return	9.18%
1-Year Return	13.72%
5-Year Return	46.47%
52-Week Low	13.33
52-Week High	16.66
Beta (5Y)	0.74
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 13.72% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.15%.

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

88.43% of assets

Name	Symbol	Weight
State Street Communication Services Select Sector SPDR ETF	XLC	18.15%
State Street Technology Select Sector SPDR ETF	XLK	14.00%
First American Treasury Obligations Fund Class X	FXFXX	10.71%
State Street Industrial Select Sector SPDR ETF	XLI	10.10%
State Street Energy Select Sector SPDR ETF	XLE	8.57%
State Street Financial Select Sector SPDR ETF	XLF	7.86%
State Street Utilities Select Sector SPDR ETF	XLU	5.40%
Select Sector Spdr Trust - SS CONSUMER DISC	n/a	4.88%
State Street Health Care Select Sector SPDR ETF	XLV	4.49%
State Street SPDR S&P Aerospace & Defense ETF	XAR	4.28%

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, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Aug 15, 2026

Data Sources Report a data error