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 is a $7.81 billion fund issued by iShares, holding convertible securities with the largest single position in Western Digital Corp at 5.2%. It carries an ETFValuer grade of B, reflecting a score of 69.9 out of 100. Within the Preferred & Convertible category, it ranks 1 of 8, while its overall standing is #104 of 458 tracked ETFs. The fund’s 0.2% expense ratio sits below the category median of 0.425%, though its 1.40% dividend yield trails the median of 6.26%. Top holdings comprise 18.3% of assets, indicating a concentrated portfolio structure.

The fund’s price of $114.78 places it at 63.4% of its 52-week range, suggesting moderate recent strength. Short-term returns show a divergence, with the one-month gain of +0.32% contrasting sharply with the three-month decline of -2.11%. However, longer horizons demonstrate robust acceleration, as the one-year return of +23.52% significantly outpaces the category median of +2.45%. This strong performance contributed to a rating downgrade from B+ to B on 2026-07-28. The analysis is based on 3.0 years of available price history.

With a beta of 1.10, the ETF exhibits higher sensitivity to market movements than the broader index. Annualized volatility of 17.82% is classified as Moderate, while the maximum drawdown of -11.65% indicates the peak-to-trough loss experienced during the record period. A Sharpe ratio of 1.04 suggests that the fund has generated adequate risk-adjusted returns relative to its volatility. Liquidity is characterized by an average daily volume of 654,700 shares and a bid/ask spread of 9.97%, which may impact trading costs for large orders.

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 4 of the same companies as ICVT's top 10 (15.2% 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: 4.77% (as of 2026-09-03) — 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): 14.32 (as of 2026-09-03) — 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 2026-08-01) — 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 9.97% and average daily volume is 655K/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 $7.81B 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