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 ETFValuer currently tracks with 8 distinct funds. Issued by iShares, this fund has accumulated assets under management of $7.53 billion and trades at a price of $111.86. It holds an overall rank of #72 out of 458 tracked ETFs across all categories, earning an ETFValuer grade of B with a score of 73.1 out of 100. The fund charges an expense ratio of 0.2% while offering a dividend yield of 1.31%. The substantial asset base and mid-tier ranking suggest significant investor adoption relative to the small size of its specific category. These metrics collectively define the fund's position as a moderately sized vehicle within a niche segment of the fixed income market.

Recent performance data shows a sharp decline over the shortest horizons, with returns of -1.39% over one day, -4.16% over one week, and -5.76% over one month. This negative momentum contrasts with the fund's longer-term trajectory, which shows a recovery and acceleration into positive territory. The three-month return turned slightly positive at +0.23%, followed by a stronger six-month gain of +8.66%. Year-to-date performance has accelerated further to +12.58%, while the one-year return stands at +22.27%. The longest available horizon of three years demonstrates the most robust growth with a return of +54.20%. This pattern indicates a divergence where short-term volatility has been overshadowed by sustained long-term appreciation.

The fund carries a Moderate volatility label and exhibits a beta of 1.06, indicating that its price movements tend to be slightly more sensitive to market fluctuations than the broader benchmark. A Sharpe ratio of 1.03 suggests the fund has generated a favorable amount of excess return per unit of risk taken over the measured period. However, the maximum drawdown of -11.22% highlights the potential for significant temporary losses during market downturns. This combination of a beta slightly above 1.0 and a moderate drawdown implies the fund participates actively in market swings while maintaining a reasonable risk-adjusted return profile. Investors should note that while the Sharpe ratio reflects efficient performance, the drawdown figure underscores the inherent volatility of convertible bonds.

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: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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 11.39% and average daily volume is 783K/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