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Performance
ICVT Performance Chart
iShares Convertible Bond ETF (ICVT) is up 26.9% since the beginning of the year. ICVT is currently trading at $124 per share. Investors who bought $1,000 worth of ICVT shares 5 years ago would now be looking at an investment worth $1,426.
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Returns By Period
iShares Convertible Bond ETF (ICVT) has returned 26.89% so far this year and 43.39% over the past 12 months. Over the last decade, ICVT has posted an annualized return of 14.40%, slightly higher than the S&P 500 Index benchmark’s 13.88%.
iShares Convertible Bond ETF
- 1D
- 0.02%
- 1M
- 5.09%
- YTD
- 26.89%
- 6M
- 24.71%
- 1Y
- 43.39%
- 3Y*
- 20.83%
- 5Y*
- 7.36%
- 10Y*
- 14.40%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
ICVT Monthly Returns History
Based on dividend-adjusted daily data since Jun 4, 2015, ICVT's average daily return is +0.05%, while the average monthly return is +1.04%. At this rate, an investment would double in approximately 5.6 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +14.5%, while the worst month was Mar 2020 at -13.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, ICVT closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +10.0%, while the worst single day was Mar 12, 2020 at -10.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.10% | 1.32% | -2.73% | 10.87% | 7.19% | 3.09% | 26.89% | ||||||
| 2025 | 3.22% | -1.47% | -2.93% | 1.55% | 2.87% | 3.69% | 2.94% | 2.11% | 6.08% | 3.38% | -2.75% | -1.51% | 18.10% |
| 2024 | -1.37% | 1.01% | 2.29% | -3.33% | 1.81% | 0.63% | 2.33% | 1.42% | 3.12% | 0.53% | 6.52% | -4.37% | 10.61% |
| 2023 | 6.10% | -0.89% | -0.31% | -1.63% | 1.54% | 5.57% | 3.03% | -3.33% | -2.08% | -4.33% | 5.11% | 6.40% | 15.35% |
| 2022 | -7.23% | 0.47% | 0.39% | -7.41% | -4.35% | -5.75% | 4.70% | 1.29% | -5.84% | 2.59% | 1.83% | -2.62% | -20.66% |
| 2021 | 3.40% | 4.12% | -5.40% | 2.51% | -2.20% | 3.74% | -1.88% | 1.97% | -2.08% | 2.75% | -5.08% | -1.88% | -0.66% |
Benchmark Metrics
iShares Convertible Bond ETF has an annualized alpha of 4.29%, beta of 0.65, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since June 04, 2015.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (73.96%) than losses (66.58%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 4.29% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.65 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 4.29%
- Beta
- 0.65
- R²
- 0.56
- Upside Capture
- 73.96%
- Downside Capture
- 66.58%
Expense Ratio
ICVT has an expense ratio of 0.20%, which is considered low.
Return for Risk
Risk / Return Rank
ICVT ranks 88 for risk / return — in the top 88% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ICVT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.37 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.78 | 2.78 | +2.99 |
| Martin ratioReturn relative to average drawdown | 19.71 | 12.44 | +7.27 |
Dividends
Dividend History
iShares Convertible Bond ETF provided a 1.28% dividend yield over the last twelve months, with an annual payout of $1.59 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.59 | $1.70 | $1.86 | $1.45 | $1.34 | $6.87 | $3.84 | $1.16 | $2.53 | $1.41 | $1.49 | $0.72 |
Dividend yield | 1.28% | 1.73% | 2.19% | 1.85% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Convertible Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.11 | $0.13 | $0.13 | $0.12 | $0.13 | $0.62 | ||||||
| 2025 | $0.00 | $0.14 | $0.15 | $0.15 | $0.15 | $0.15 | $0.14 | $0.12 | $0.14 | $0.13 | $0.11 | $0.33 | $1.70 |
| 2024 | $0.00 | $0.12 | $0.13 | $0.13 | $0.14 | $0.15 | $0.16 | $0.15 | $0.15 | $0.15 | $0.14 | $0.43 | $1.86 |
| 2023 | $0.00 | $0.14 | $0.06 | $0.07 | $0.06 | $0.08 | $0.08 | $0.09 | $0.10 | $0.12 | $0.12 | $0.53 | $1.45 |
| 2022 | $0.00 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.11 | $0.14 | $0.11 | $0.11 | $0.12 | $0.40 | $1.34 |
| 2021 | $0.00 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $6.27 | $6.87 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Convertible Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Convertible Bond ETF was 33.25%, occurring on Jun 16, 2022. Recovery took 808 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -33.25%Jun 2022 | 1y 4mo | 3y 2mo | 4y 6moFeb 2021 - Sep 2025 |
COVID crash2020 | -32.18%Mar 2020 | 1mo 2d | 2mo 14d | 3mo 16dFeb 2020 - Jun 2020 |
2016 correction2016 | -18.52%Feb 2016 | 7mo 19d | 8mo 5d | 1y 3moJun 2015 - Oct 2016 |
Rate-hike selloffLate 2018 | -13.81%Dec 2018 | 3mo 26d | 2mo 3d | 5mo 29dAug 2018 - Feb 2019 |
2020 pullback2020 | -8.63%Sep 2020 | 6d | 1mo 1d | 1mo 7dSep 2020 - Oct 2020 |
Drawdown Indicators
| ICVT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -56.78% | +23.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -9.10% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -11.22% | -18.90% | +7.68% |
Max Drawdown (5Y)Largest decline over 5 years | -29.95% | -25.43% | -4.52% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -33.92% | +0.67% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -9.46% | -10.71% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 2.03% | +0.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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