AVK vs. CNSDX
AVK (Advent Convertible and Income Fund) and CNSDX (Invesco Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, AVK returned 10.95%/yr vs 11.95%/yr for CNSDX. A 0.58 correlation means they provide meaningful diversification when combined. AVK charges 0.75%/yr vs 0.68%/yr for CNSDX.
Performance
AVK vs. CNSDX - Performance Comparison
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Returns By Period
In the year-to-date period, AVK achieves a 8.20% return, which is significantly lower than CNSDX's 23.81% return. Over the past 10 years, AVK has underperformed CNSDX with an annualized return of 10.95%, while CNSDX has yielded a comparatively higher 11.95% annualized return.
AVK
- 1D
- -0.70%
- 1M
- 1.95%
- YTD
- 8.20%
- 6M
- 7.68%
- 1Y
- 22.95%
- 3Y*
- 18.52%
- 5Y*
- 4.90%
- 10Y*
- 10.95%
CNSDX
- 1D
- -0.20%
- 1M
- 4.90%
- YTD
- 23.81%
- 6M
- 21.66%
- 1Y
- 38.44%
- 3Y*
- 18.64%
- 5Y*
- 8.05%
- 10Y*
- 11.95%
AVK vs. CNSDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AVK Advent Convertible and Income Fund | 8.20% | 19.66% | 19.42% | 18.16% | -34.45% | 30.18% | 17.62% | 36.54% | -13.36% | 17.28% |
CNSDX Invesco Convertible Securities Fund | 23.81% | 16.24% | 9.95% | 8.18% | -15.51% | 4.69% | 44.68% | 21.25% | -1.60% | 10.68% |
Correlation
The correlation between AVK and CNSDX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003 | 0.58 |
The correlation between AVK and CNSDX has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.
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Return for Risk
AVK vs. CNSDX — Risk / Return Rank
AVK
CNSDX
AVK vs. CNSDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Advent Convertible and Income Fund (AVK) and Invesco Convertible Securities Fund (CNSDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AVK | CNSDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 4.85 | -3.23 |
| Martin ratioReturn relative to average drawdown | 7.81 | 16.87 | -9.06 |
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Drawdowns
AVK vs. CNSDX - Drawdown Comparison
The maximum AVK drawdown since its inception was -67.49%, which is greater than CNSDX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for AVK and CNSDX.
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Drawdown Indicators
| AVK | CNSDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.49% | -39.33% | -28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.25% | -8.09% | -6.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.98% | -13.32% | -6.66% |
Max Drawdown (5Y)Largest decline over 5 years | -38.50% | -22.73% | -15.77% |
Max Drawdown (10Y)Largest decline over 10 years | -49.82% | -24.19% | -25.63% |
Current DrawdownCurrent decline from peak | -1.98% | -0.20% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -11.68% | -6.89% | -4.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 2.32% | +0.63% |
Volatility
AVK vs. CNSDX - Volatility Comparison
The current volatility for Advent Convertible and Income Fund (AVK) is 4.42%, while Invesco Convertible Securities Fund (CNSDX) has a volatility of 6.63%. This indicates that AVK experiences smaller price fluctuations and is considered to be less risky than CNSDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVK | CNSDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 6.63% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 13.68% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.28% | 16.66% | -2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 12.48% | +7.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.62% | 12.95% | +9.67% |
AVK vs. CNSDX - Expense Ratio Comparison
AVK has a 0.75% expense ratio, which is higher than CNSDX's 0.68% expense ratio.
Dividends
AVK vs. CNSDX - Dividend Comparison
AVK's dividend yield for the trailing twelve months is around 10.96%, more than CNSDX's 9.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVK Advent Convertible and Income Fund | 10.96% | 11.22% | 11.71% | 12.36% | 12.90% | 15.13% | 8.51% | 9.04% | 11.21% | 8.10% | 7.68% | 8.33% |
CNSDX Invesco Convertible Securities Fund | 9.51% | 11.77% | 3.46% | 1.46% | 3.97% | 28.36% | 10.96% | 5.21% | 12.65% | 4.57% | 3.74% | 2.74% |
Frequently Asked Questions
AVK and CNSDX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNSDX has higher volatility (6.63%) compared to AVK (4.42%). In terms of maximum drawdown, AVK dropped -67.49% vs CNSDX's -39.33%.
CNSDX currently has the higher Sharpe Ratio (2.36 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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