BIPS.L vs. AVK

Last updated Jun 5, 2026

BIPS.L (Invesco Bond Income Plus Limited) is a stock, while AVK (Advent Convertible and Income Fund) is Convertible Bonds fund actively managed by Guggenheim. Over the past 10 years, BIPS.L returned 43.24%/yr vs 11.43%/yr for AVK. At a 0.11 correlation, their price movements are largely independent.

Performance

BIPS.L vs. AVK - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Bond Income Plus Limited (BIPS.L) and Advent Convertible and Income Fund (AVK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BIPS.L is traded in GBp, while AVK is traded in USD. To make them comparable, the AVK values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, BIPS.L achieves a 2.10% return, which is significantly lower than AVK's 9.15% return. Over the past 10 years, BIPS.L has outperformed AVK with an annualized return of 43.24%, while AVK has yielded a comparatively lower 11.43% annualized return.

BIPS.L

• 1D: -0.14%
• 1M: 0.29%
• YTD: 2.10%
• 6M: 2.40%
• 1Y: 7.63%
• 3Y*: 9.40%
• 5Y*: 5.57%
• 10Y*: 43.24%

AVK

• 1D: 0.08%
• 1M: 4.66%
• YTD: 9.15%
• 6M: 7.69%
• 1Y: 26.18%
• 3Y*: 15.51%
• 5Y*: 6.25%
• 10Y*: 11.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIPS.L vs. AVK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIPS.L Invesco Bond Income Plus Limited	2.10%	8.04%	8.84%	10.52%	-5.13%	4.18%	1.80%	2,367.89%	-7.60%	9.93%
AVK Advent Convertible and Income Fund	9.15%	11.14%	21.51%	12.25%	-26.65%	31.41%	14.17%	31.34%	-8.22%	7.14%

Correlation

The correlation between BIPS.L and AVK is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 3, 2007	0.11

Return for Risk

BIPS.L vs. AVK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIPS.L

BIPS.L Risk / Return Rank: 82
BIPS.L Sharpe Ratio Rank: 82
BIPS.L Sortino Ratio Rank: 78
BIPS.L Omega Ratio Rank: 81
BIPS.L Calmar Ratio Rank: 81
BIPS.L Martin Ratio Rank: 88

AVK

AVK Risk / Return Rank: 36
AVK Sharpe Ratio Rank: 39
AVK Sortino Ratio Rank: 34
AVK Omega Ratio Rank: 39
AVK Calmar Ratio Rank: 24
AVK Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIPS.L vs. AVK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bond Income Plus Limited (BIPS.L) and Advent Convertible and Income Fund (AVK). 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.

	BIPS.L	AVK	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.92	-0.42
Sortino ratio: Return per unit of downside risk	2.18	2.59	-0.40
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.81	1.99	+0.82
Martin ratio: Return relative to average drawdown	10.33	8.00	+2.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIPS.L vs. AVK - Sharpe Ratio Comparison

The current BIPS.L Sharpe Ratio is 1.51, which is comparable to the AVK Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of BIPS.L and AVK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIPS.L	AVK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.92	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.33	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	0.51	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.34	-0.23

Drawdowns

BIPS.L vs. AVK - Drawdown Comparison

The maximum BIPS.L drawdown since its inception was -93.59%, which is greater than AVK's maximum drawdown of -57.45%. Use the drawdown chart below to compare losses from any high point for BIPS.L and AVK.

Drawdown Indicators

	BIPS.L	AVK	Difference
Max Drawdown Largest peak-to-trough decline	-93.59%	-57.45%	-36.14%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-13.21%	+10.51%
Max Drawdown (3Y) Largest decline over 3 years	-4.72%	-19.64%	+14.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.39%	-31.12%	+7.73%
Max Drawdown (10Y) Largest decline over 10 years	-38.38%	-44.21%	+5.83%
Current Drawdown Current decline from peak	-0.29%	-1.16%	+0.87%
Average Drawdown Average peak-to-trough decline	-5.54%	-10.03%	+4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	3.28%	-2.54%

Volatility

BIPS.L vs. AVK - Volatility Comparison

The current volatility for Invesco Bond Income Plus Limited (BIPS.L) is 1.19%, while Advent Convertible and Income Fund (AVK) has a volatility of 5.02%. This indicates that BIPS.L experiences smaller price fluctuations and is considered to be less risky than AVK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIPS.L	AVK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	5.02%	-3.83%
Volatility (6M) Calculated over the trailing 6-month period	3.87%	10.93%	-7.06%
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	13.69%	-8.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.68%	19.10%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	627.79%	22.47%	+605.32%

Dividends

BIPS.L vs. AVK - Dividend Comparison

BIPS.L's dividend yield for the trailing twelve months is around 7.10%, less than AVK's 10.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVK Advent Convertible and Income Fund	10.81%	11.22%	11.71%	12.36%	12.90%	15.13%	8.51%	9.04%	11.21%	8.10%	7.68%	8.33%
BIPS.L Invesco Bond Income Plus Limited	7.10%	7.00%	6.61%	6.73%	6.70%	5.61%	5.27%	98.33%	5.71%	5.01%	5.24%	5.53%

Frequently Asked Questions

Can I hold both BIPS.L and AVK in my portfolio?

BIPS.L and AVK have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.