BenzingaT3·5mo ago
ICAP Infrastructure Capital Equity Income ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
ICAP
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Key stats
About
Infrastructure Capital Equity Income ETF (ICAP) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2021-12-28
- Has Options
- No
Fund profile
holdings as of Aug 31, 2026SEC filingthrough Aug 2026flows, SEC filings
- Expense ratio
- 2.47% prospectus, filed Mar 30, 2026
- Assets
- $110M shares × price, Nov 12, 2026
- Trailing yield
- 11.59% paid monthly
- Average daily volume
- $556K 30 sessions
- Holdings
- 178 top 10 are 43.6%
- Listed
- Dec 28, 2021 NYSE Arca
- Last fee change
- -72 bp filed Mar 30, 2026
Cost0
Liquidity25
Scale38
Diversification73
Moves with. US large-cap stocks (55% of its variance, beta 0.85); Emerging markets over US (5% of its variance, beta 0.13); High yield over Treasuries (5% of its variance, beta 0.61); Small caps over large (3% of its variance, beta 0.17). These factors explain 66% of its daily moves over the last year.
Stated objective. The Infrastructure Capital Equity Income ETF (the Fund) seeks to maximize income and pursue total return opportunities. (from the fund's prospectus)
All 178 holdingsFlow historySimilar fundsOverlap toolAll Infrastructure ETFs
Fund flows
through Aug 2026SEC filings- Aug 2026
- +$707K latest reported month
- Latest 3 months
- +$11M +9.5% of assets
- Latest 12 months
- +$49M +41.3% of assets
View as a table
| Month | Net flow |
|---|---|
| Aug 2026 | +$707K |
| Jul 2026 | +$2.8M |
| Jun 2026 | +$7.8M |
| May 2026 | +$8.5M |
| Apr 2026 | +$2.7M |
| Mar 2026 | +$1.4M |
| Feb 2026 | +$5.0M |
| Jan 2026 | +$12M |
| Dec 2025 | +$2.8M |
| Nov 2025 | +$1.3M |
| Oct 2025 | +$3.4M |
| Sep 2025 | +$681K |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 57 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| OEIOptimized Equity Income ETF | 29% | 1.02% | $46M | +1.5% | compare |
| HISHumilis US Focused Opportunities ETF | 28% | 0.54% | $16M | — | compare |
| UDIVFranklin U.S. Core Dividend Tilt Index ETF | 27% | 0.06% | $161M | +13.7% | compare |
| PEVCPacer PE/VC ETF | 27% | 0.85% | $2.4M | −0.2% | compare |
| XLGInvesco S&P 500 Top 50 ETF | 27% | 0.20% | $11.5B | +2.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Aug 31, 2026SEC filing- Holdings vs fair value
- +4.9% 33% under, 28% over · 89% covered
- Price / earnings
- 20.7 3% loss-making · 89% covered
- Price / book · sales
- 2.4 · 2.3 revenue growth +13.2%
- Above 200-day average
- 38% 64% above 50-day · by weight
- Short interest
- 4.2% of float, weighted · 3.5 days to cover
- Insider buying
- 9% of weight had net insider buying, 90 days; 35% net selling
- 13F holders
- +2.2% change in shares held by institutions, latest quarter
- Reporting earnings
- 4.1% of weight in 7 days; 4.1% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.39%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
May 31, 2026 → Aug 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | TOLToll Brothers Inc | 4.60% | — | — |
| Decrease | CFGCitizens Financial Group Inc | 4.63% | 0.83% | −83.8% |
| Increase | DHIDR Horton Inc | 0.99% | 4.23% | +331.6% |
| Increase | NVDANVIDIA Corp | 1.39% | 4.37% | +199.1% |
| Increase | AVGOBroadcom Inc | 2.72% | 5.64% | +149.7% |
| Decrease | GSGoldman Sachs Group Inc/The | 3.36% | 1.32% | −60.8% |
| Decrease | FCXFreeport-McMoRan Inc | 2.78% | 0.76% | −76.4% |
| Decrease | MSMorgan Stanley | 2.33% | 0.37% | −84.8% |
| Exit | MPLXMPLX LP | 1.77% | — | — |
| Increase | BACBank of America Corp | 0.03% | 1.75% | +4884.8% |
8 new, 7 exited, 15 increased and 21 decreased between the fund's two latest holdings reports; turnover 31.8%. Full holdings and history
Under the hood
fiscal year to Nov 30, 2025SEC census- Authorized participants
- 3 active of 3 with agreements; top 3 did 100%
- Created · redeemed
- $13M · $0 over the fiscal year
- Redemptions in kind
- 0% creations 124% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-08-31
Holdings
178
AUM
$135.3M
Provider
Nport
Inception
2021-12-28
Exchange
ARCX
Data As Of
2026-08-31
Expense Ratio
2.47%
Dividend Yield
11.59%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-29 | 2026-10-30 | $0.2550 | CD |
| 2026-09-29 | 2026-09-30 | $0.2550 | CD |
| 2026-08-27 | 2026-08-28 | $0.2500 | CD |
| 2026-07-30 | 2026-07-31 | $0.2500 | CD |
| 2026-06-29 | 2026-06-30 | $0.2500 | CD |
| 2026-05-28 | 2026-05-29 | $0.2450 | CD |
Asset Allocation
Top Holdings
top 50 of 178 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| AVGO | Broadcom Inc | 5.64% | Equity (common) | US |
| MRVL | Marvell Technology Inc | 5.25% | Equity (common) | US |
| KKR | KKR & Co Inc | 4.62% | Equity (common) | US |
| LMT | Lockheed Martin Corp | 4.44% | Equity (common) | US |
| NVDA | NVIDIA Corp | 4.37% | Equity (common) | US |
| DHI | DR Horton Inc | 4.23% | Equity (common) | US |
| CELH | Celsius Holdings Inc | 4.06% | Equity (common) | US |
| LEN | Lennar Corp | 3.87% | Equity (common) | US |
| ORCL | Oracle Corp | 3.68% | Equity (common) | US |
| AMZN | Amazon.com Inc | 3.48% | Equity (common) | US |
| AMD | Advanced Micro Devices Inc | 2.38% | Equity (common) | US |
| — | ADAMAS TRUST INC | 2.06% | Equity (preferred) | US |
| NEE | NextEra Energy Inc | 2.03% | Equity (common) | US |
| GEV | GE Vernova Inc | 2.00% | Equity (common) | US |
| XEL | Xcel Energy Inc | 1.99% | Equity (common) | US |
| VST | Vistra Corp | 1.86% | Equity (common) | US |
| MRK | Merck & Co Inc | 1.81% | Equity (common) | US |
| BHF | Brighthouse Financial Inc | 1.79% | Equity (common) | US |
| BAC | Bank of America Corp | 1.75% | Equity (common) | US |
| ORCLPD | ORACLE CORP | 1.73% | Equity (preferred) | US |
| RTX | RTX Corp | 1.70% | Equity (common) | US |
| MSFT | Microsoft Corp | 1.64% | Equity (common) | US |
| — | REDWOOD TRUST INC | 1.63% | Debt | US |
| META | Meta Platforms Inc | 1.57% | Equity (common) | US |
| ZION | Zions Bancorp NA | 1.56% | Equity (common) | US |
| BX | Blackstone Inc | 1.55% | Equity (common) | US |
| KHC | Kraft Heinz Co/The | 1.49% | Equity (common) | US |
| REXR | Rexford Industrial Realty Inc | 1.45% | Equity (common) | US |
| ET | Energy Transfer LP | 1.42% | Equity (common) | US |
| RITMPE | RITHM CAPITAL CORP | 1.35% | Equity (preferred) | US |
| GS | Goldman Sachs Group Inc/The | 1.32% | Equity (common) | US |
| LNT | Alliant Energy Corp | 1.23% | Equity (common) | US |
| — | QWEST CORP | 1.22% | Debt | US |
| FITB | Fifth Third Bancorp | 1.15% | Equity (common) | US |
| CCI | Crown Castle Inc | 1.15% | Equity (common) | US |
| TPG | TPG Inc | 1.14% | Equity (common) | US |
| BWPA | BABCOCK & WILCOX ENTERPR | 1.10% | Equity (preferred) | US |
| — | COREBRIDGE FINANCIAL INC | 1.09% | Debt | US |
| PSX | Phillips 66 | 1.06% | Equity (common) | US |
| RLJPA | RLJ LODGING TRUST | 1.04% | Equity (preferred) | US |
| EOG | EOG Resources Inc | 0.99% | Equity (common) | US |
| — | AGNC INVESTMENT CORP | 0.95% | Debt | US |
| PM | Philip Morris International In | 0.94% | Equity (common) | US |
| LNG | Cheniere Energy Inc | 0.93% | Equity (common) | US |
| SAFE | Safehold Inc | 0.90% | Equity (common) | US |
| HBAN | Huntington Bancshares Inc/OH | 0.89% | Equity (common) | US |
| — | GLOBAL NET LEASE INC | 0.88% | Equity (preferred) | US |
| GOOGM | ALPHABET INC | 0.87% | Equity (preferred) | US |
| CFG | Citizens Financial Group Inc | 0.83% | Equity (common) | US |
| ALB | Albemarle Corp | 0.82% | Equity (common) | US |
Non-Equity Breakdown
Infrastructure Capital Equity Income ETF ·
NPORT-P period 2026-08-31
(filed 2026-10-22)
Net assets:
$120M
· 178 total positions
· equity 105.75%
· non-equity 7.37%
Non-equity holdings
— 102 positions,
7.37% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 6.96% | $8.3M | 8 |
| Short-term investment | 0.46% | $551490 | 2 |
| Derivative (equity) | -0.06% | $-68475 | 92 |
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -- | -0.96% | 10.11% | -4.33% | 1.63% | 1.53% | 1.60% |
| Feb | -- | -2.30% | -6.04% | -0.70% | -0.12% | -1.60% | -2.15% |
| Mar | -- | 4.66% | -8.14% | 3.81% | -4.27% | -6.29% | -2.05% |
| Apr | -- | -6.65% | -0.41% | -2.99% | -5.03% | 8.13% | -1.39% |
| May | -- | 5.29% | -7.34% | 3.34% | 3.44% | 0.35% | 1.02% |
| Jun | -- | -12.21% | 5.79% | -1.86% | 4.96% | -1.82% | -1.03% |
| Jul | -- | 5.10% | 2.97% | 6.54% | 1.89% | 0.78% | 3.46% |
| Aug | -- | -3.84% | -2.38% | 1.95% | 2.91% | -1.25% | -0.52% |
| Sep | -- | -13.97% | -6.63% | 3.97% | 1.18% | -2.48% | -3.59% |
| Oct | -- | 7.25% | -2.55% | -1.36% | -2.35% | -4.98% | -0.80% |
| Nov | -- | 4.24% | 9.18% | 7.18% | 3.28% | -0.78%* | 4.62% |
| Dec | 0.57% | -6.91% | 5.90% | -6.12% | 0.29% | -- | -1.25% |
| Total | 0.57% | -20.93% | -1.89% | 8.75% | 7.52% | -8.74% | -2.45% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $26.05
SMA 50: $27.06
SMA 200: $27.96
Current: $25.29
EMA 12: $25.64
EMA 26: $26.17
MACD: -0.5361 | Signal: 0.0087
BEARISH
ADX (14): 30.65
TREND
+DI: 21.50
−DI: 34.80
Momentum Oscillators
RSI (14): 40.82
NEUTRAL
Stoch %K: 42.00
Stoch %D: 41.93
Williams %R: -67.45
Volume & Volatility
BB Upper: $27.71
BB Lower: $24.39
NEUTRAL
OBV: -522,976
Vol SMA 20: 24,398
Vol ROC: -72.85%
ATR: $0.58
True Range: $0.70
HV 20: 31.9%
HV 30: 28.8%
HV 60: 23.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-15T00:00:00 – 2026-11-13T00:00:00
AI Analysis
Click Frenzy-Pro™ for an AI analysis of this ticker.
Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.
News
All ICAP news →
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ICAP Options Activity & IV Rank
Loading options activity...
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Put vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Call vs ATM
IV(call wing) − IV(ATM), in vol pointsThe same measure on the upside: how the OTM call is priced against the at-the-money strike.
- Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
- Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together
Put or call vs ATM tells you how expensive that tail is. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d put
—
—
pts
EXTREME
ATM — / Put —
30 DTE / 10d put
—
—
pts
EXTREME
ATM — / Put —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.9975
Alpha: -18.89%
Correlation: 0.7951
R-Squared: 63.2%
Stock Volatility: 17.1%
Market Volatility: 13.6%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
ICAP Institutional Ownership (13F)
Filings for 2026-06-30 · 7 already for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|