The ICA Guide

A 78-year history of investment success
Year
Sources — Stock market: Standard & Poor’s 500 Composite Index, with reinvestment of dividends; consumer prices: Consumer Price Index as measured by
the U.S. Department of Labor, Bureau of Labor Statistics.
Results for ICA are shown at net asset value with all distributions reinvested. If the 5.75% maximum Class A sales charge had
been deducted, results would have been lower.
22 The ICA Guide
ICA’s
total
return
Stock
market
Consumer
prices
1934 +25.4% –1.5% +1.5%
1935 +83.1 +47.7 +3.0
1936 +45.8 +33.8 +1.4
1937 –38.5 –35.0 +2.9
1938 +27.6 +31.0 –2.8
1939 +0.8 –0.4 0.0
1940 –2.4 –9.8 +0.7
1941 –7.4 –11.6 +9.9
1942 +16.8 +20.4 +9.0
1943 +32.8 +25.8 +3.0
1944 +23.3 +19.7 +2.3
1945 +36.8 +36.4 +2.2
1946 –2.4 –8.1 +18.1
1947 +0.9 +5.7 +8.8
1948 +0.4 +5.4 +3.0
1949 +9.4 +18.8 –2.1
1950 +19.8 +31.7 +5.9
1951 +17.8 +24.0 +6.0
1952 +12.2 +18.3 +0.8
1953 +0.4 –1.0 +0.7
1954 +56.1 +52.6 –0.7
1955 +25.4 +31.5 +0.4
1956 +10.8 +6.5 +3.0
1957 –11.9 –10.8 +2.9
1958 +44.8 +43.3 +1.8
1959 +14.2 +12.0 +1.7
1960 +4.5 +0.5 +1.4
1961 +23.1 +26.9 +0.7
1962 –13.2 –8.7 +1.3
1963 +22.9 +22.8 +1.6
1964 +16.3 +16.5 +1.0
1965 +26.9 +12.5 +1.9
1966 +1.0 –10.1 +3.5
1967 +28.9 +24.0 +3.0
1968 +17.0 +11.1 +4.7
1969 –10.7 –8.4 +6.2
1970 +2.6 +3.9 +5.6
1971 +17.0 +14.3 +3.3
1972 +15.9 +19.0 +3.4
1973 –16.8 –14.7 +8.7
1974 –17.9 –26.5 +12.3
Year
ICA’s
total
return
Stock
market
Consumer
prices
1975 +35.4% +37.2% +6.9%
1976 +29.6 +23.9 +4.9
1977 –2.6 –7.2 +6.7
1978 +14.7 +6.6 +9.0
1979 +19.2 +18.6 +13.3
1980 +21.2 +32.5 +12.5
1981 +0.9 –4.9 +8.9
1982 +33.8 +21.5 +3.8
1983 +20.2 +22.6 +3.8
1984 +6.7 +6.3 +3.9
1985 +33.4 +31.7 +3.8
1986 +21.7 +18.7 +1.1
1987 +5.4 +5.3 +4.4
1988 +13.3 +16.6 +4.4
1989 +29.4 +31.6 +4.6
1990 +0.7 –3.1 +6.1
1991 +26.5 +30.4 +3.1
1992 +7.0 +7.6 +2.9
1993 +11.6 +10.1 +2.7
1994 +0.2 +1.3 +2.7
1995 +30.6 +37.5 +2.5
1996 +19.3 +22.9 +3.3
1997 +29.8 +33.4 +1.7
1998 +22.9 +28.6 +1.6
1999 +16.6 +21.0 +2.7
2000 +3.8 –9.1 +3.4
2001 –4.6 –11.9 +1.6
2002 –14.5 –22.1 +2.4
2003 +26.3 +28.7 +1.9
2004 +9.8 +10.9 +3.3
2005 +6.9 +4.9 +3.4
2006 +15.9 +15.8 +2.5
2007 +5.9 +5.5 +4.1
2008 –34.7 –37.0 +0.1
2009 +27.2 +26.5 +2.7
2010 +10.9 +15.1 +1.5
2011 –1.8 +2.1 +3.0
78-year average annual total returns through 12/31/11
+12.0%
Number of best years
+10.5% +3.7%
31 26 21