BNDP vs. ICVT

Last updated Jun 4, 2026

BNDP (Vanguard Core-Plus Bond Index ETF) and ICVT (iShares Convertible Bond ETF) are both exchange-traded funds - BNDP is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Float Adjusted Index, while ICVT is a Preferred Stock/Convertible Bonds fund tracking the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. Both are passively managed. At a 0.31 correlation, their price movements are largely independent. BNDP charges 0.05%/yr vs 0.20%/yr for ICVT.

Performance

BNDP vs. ICVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond Index ETF (BNDP) and iShares Convertible Bond ETF (ICVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDP achieves a 0.34% return, which is significantly lower than ICVT's 25.28% return.

BNDP

• 1D: -0.08%
• 1M: 0.41%
• YTD: 0.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICVT

• 1D: -0.97%
• 1M: 7.16%
• YTD: 25.28%
• 6M: 24.31%
• 1Y: 42.20%
• 3Y*: 21.04%
• 5Y*: 7.79%
• 10Y*: 13.99%

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

BNDP vs. ICVT - Yearly Performance Comparison

	2026 (YTD)	2025
BNDP Vanguard Core-Plus Bond Index ETF	0.34%	0.10%
ICVT iShares Convertible Bond ETF	25.28%	-1.58%

Correlation

The correlation between BNDP and ICVT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.31

Return for Risk

BNDP vs. ICVT — Risk / Return Rank

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

ICVT

ICVT Risk / Return Rank: 87
ICVT Sharpe Ratio Rank: 87
ICVT Sortino Ratio Rank: 84
ICVT Omega Ratio Rank: 84
ICVT Calmar Ratio Rank: 90
ICVT Martin Ratio Rank: 89

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.

BNDP vs. ICVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Index ETF (BNDP) and iShares Convertible Bond ETF (ICVT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BNDP	ICVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.78	-0.54

Drawdowns

BNDP vs. ICVT - Drawdown Comparison

The maximum BNDP drawdown since its inception was -2.60%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for BNDP and ICVT.

Drawdown Indicators

	BNDP	ICVT	Difference
Max Drawdown Largest peak-to-trough decline	-2.60%	-33.25%	+30.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.25%	—
Current Drawdown Current decline from peak	-1.31%	-0.97%	-0.34%
Average Drawdown Average peak-to-trough decline	-0.86%	-9.50%	+8.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.07%	—

Volatility

Volatility by Period

	BNDP	ICVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	14.36%	-10.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	13.23%	-9.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	15.50%	-11.87%

BNDP vs. ICVT - Expense Ratio Comparison

BNDP has a 0.05% expense ratio, which is lower than ICVT's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BNDP vs. ICVT - Dividend Comparison

BNDP's dividend yield for the trailing twelve months is around 2.08%, more than ICVT's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ICVT iShares Convertible Bond ETF	1.30%	1.73%	2.19%	1.85%	1.93%	7.70%	3.98%	1.86%	4.82%	2.56%	3.06%	1.57%

Frequently Asked Questions

Can I hold both BNDP and ICVT in my portfolio?

BNDP and ICVT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNDP or ICVT?

On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNDP or ICVT?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.20% for ICVT.

Which ETF pays a higher dividend yield, BNDP or ICVT?

BNDP has the higher dividend yield at 2.08%, compared with 1.30% for ICVT.

What is the main difference between BNDP and ICVT?

BNDP is categorized as Intermediate Core-Plus Bond, while ICVT is Preferred Stock/Convertible Bonds. BNDP tracks Bloomberg U.S. Universal Float Adjusted Index, while ICVT tracks Barclays U.S. Convertible Cash Pay Bond > $250MM Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for BNDP and 0.20% for ICVT.