ICVT — iShares Convertible Bond ETF

ICVT Price Performance — Growth of $10,000

Value of a $10,000 investment in ICVT over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ICVT Drawdown

The "underwater" chart: ICVT's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares Convertible Bond ETF (ICVT) operates within the Preferred & Convertible category, which currently contains 8 ETFs tracked by ETFValuer. Issued by iShares, the fund manages $7.53 billion in assets and trades at a price of $113.75. It holds an overall rank of #45 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B+ with a score of 75.8. The fund charges an expense ratio of 0.2% and offers a dividend yield of 1.31%. The substantial asset under management figure suggests significant investor adoption relative to the small size of its specific category. These metrics position the fund as a widely held option within its niche, balancing cost efficiency with a moderate income profile.

Over the last trading day, the fund declined by 1.86% before recovering slightly to gain 0.01% over the week. A sharper decline occurred over the one-month period with a return of -5.56%, though the trend reversed positively over the subsequent three months with a gain of 1.87%. Momentum accelerated significantly over the six-month horizon, delivering a return of 10.19%, which contributed to a year-to-date gain of 14.48%. The one-year return reached 24.20%, while the three-year annualized performance stands at 53.80%. This pattern indicates a divergence where short-term volatility was followed by sustained long-term appreciation. The data shows a clear acceleration in returns as the investment horizon extends from one month to three years.

The fund carries a Moderate volatility label and exhibits a beta of 1.06, indicating it moves slightly more than the broader market. A Sharpe ratio of 1.15 suggests the fund has generated a favorable return per unit of risk taken over the measured period. Despite the positive risk-adjusted metrics, the fund experienced a maximum drawdown of -11.22% during the tracked timeframe. This combination of figures implies that while the fund offers decent compensation for risk, it remains sensitive to market downturns. The moderate volatility and beta above 1.00 suggest the fund may experience amplified swings compared to a neutral benchmark. Investors should note that the maximum drawdown represents the peak-to-trough decline the fund has endured.

AI-generated summary based on the data on this page.

ICVT Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 18.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how ICVT's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With ICVT

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ICVT's top 10 — CWB overlaps most, holding 3 of the same companies as ICVT's top 10 (14.0% of ICVT's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ICVT Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 7.22% and average daily volume is 801K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $7.53B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ICVT is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ICVT Performance History

How ICVT Compares to Other Preferred & Convertible ETFs