- ISIN
- US46435G1022
- CUSIP
- 46435G102
- Issuer
- iShares
- Inception Date
- Jun 2, 2015
- Region
- North America (U.S.)
- Category
- Convertible Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg U.S. Convertible Cash Pay Bond > $250MM Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $7B
Highlights
- Avg. Volume (1M)
- 596K
- Avg. Volume Value (1M)
- $69.08M
Share Price Chart
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Performance
ICVT Performance Chart
iShares Convertible Bond ETF (ICVT) is up 15.7% since the beginning of the year. ICVT is currently trading at $113 per share. Investors who bought $1,000 worth of ICVT shares 5 years ago would now be looking at an investment worth $1,322.
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Compare this symbol against anything
Returns By Period
iShares Convertible Bond ETF (ICVT) has returned 15.73% so far this year and 25.68% over the past 12 months. Over the last ten years, ICVT has had an annualized return of 12.80%, just under the S&P 500 Index benchmark’s 13.26%.
iShares Convertible Bond ETF
- 1D
- -0.13%
- 1M
- -3.58%
- 6M
- 10.12%
- YTD
- 15.73%
- 1Y
- 25.68%
- 3Y*
- 15.44%
- 5Y*
- 5.74%
- 10Y*
- 12.80%
- ALL TIME*
- 11.03%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
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 +0.96%. At this rate, an investment would double in approximately 6.0 years.
Historically, 63% of months were positive and 37% 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% | 0.99% | -6.90% | 15.73% | |||||
| 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 3.36%, beta of 0.65, and R2 of 0.55 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 (71.55%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 3.36% 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
- 3.36%
- Beta
- 0.65
- R²
- 0.55
- Upside Capture
- 73.96%
- Downside Capture
- 71.55%
Expense Ratio
ICVT has an expense ratio of 0.20%, which is considered low.
Return for Risk
Risk / Return Rank
ICVT ranks 58 for risk / return — above 58% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return 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 | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.00 | +0.08 |
| Martin ratioReturn relative to average drawdown | 7.79 | 8.49 | -0.70 |
Dividends
Dividend History
iShares Convertible Bond ETF provided a 1.29% dividend yield over the last twelve months, with an annual payout of $1.46 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.46 | $1.70 | $1.86 | $1.45 | $1.34 | $6.87 | $3.84 | $1.16 | $2.53 | $1.41 | $1.49 | $0.72 |
Dividend yield | 1.29% | 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 | $0.12 | $0.74 | |||||
| 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.
The current iShares Convertible Bond ETF drawdown is 8.79%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-33.25%Jun 2022 | 1y 4mo | 3y 2mo | 4y 6moFeb 2021 - Sep 2025 | Bear market2022 |
-32.18%Mar 2020 | 1mo 2d | 2mo 14d | 3mo 16dFeb 2020 - Jun 2020 | COVID crash2020 |
-18.52%Feb 2016 | 7mo 19d | 8mo 5d | 1y 3moJun 2015 - Oct 2016 | — |
-13.81%Dec 2018 | 3mo 26d | 2mo 3d | 5mo 29dAug 2018 - Feb 2019 | Rate-hike selloffLate 2018 |
-11.65%Jul 2026 | 1mo 6d | — | 1mo 10dJun 2026 - now | — |
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 | -11.65% | -9.10% | -2.55% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -18.90% | +7.25% |
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 | -8.79% | -1.58% | -7.21% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -10.70% | +1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 2.14% | +0.97% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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