CVRT vs. ICVT
Compare and contrast key facts about Calamos Convertible Equity Alternative ETF (CVRT) and iShares Convertible Bond ETF (ICVT).
CVRT and ICVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVRT is an actively managed fund by Calamos. It was launched on Oct 4, 2023. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CVRT or ICVT.
Key characteristics
| CVRT | ICVT | |
|---|---|---|
| YTD Return | 4.93% | 5.61% |
| 1Y Return | 13.25% | 11.73% |
| 3Y Return (Ann) | 13.95% | -3.29% |
| 5Y Return (Ann) | 13.95% | 10.49% |
| Sharpe Ratio | 0.87 | 1.32 |
| Daily Std Dev | 16.95% | 8.65% |
| Max Drawdown | -25.10% | -33.25% |
| Current Drawdown | -0.86% | -15.84% |
Correlation
The correlation between CVRT and ICVT is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CVRT vs. ICVT - Performance Comparison
In the year-to-date period, CVRT achieves a 4.93% return, which is significantly lower than ICVT's 5.61% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CVRT vs. ICVT - Expense Ratio Comparison
CVRT has a 0.69% expense ratio, which is higher than ICVT's 0.20% expense ratio.
Risk-Adjusted Performance
CVRT vs. ICVT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) 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.
Dividends
CVRT vs. ICVT - Dividend Comparison
CVRT's dividend yield for the trailing twelve months is around 1.56%, less than ICVT's 2.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVRT Calamos Convertible Equity Alternative ETF | 1.56% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICVT iShares Convertible Bond ETF | 2.32% | 1.85% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% |
Drawdowns
CVRT vs. ICVT - Drawdown Comparison
The maximum CVRT drawdown since its inception was -25.10%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for CVRT and ICVT. For additional features, visit the drawdowns tool.
Volatility
CVRT vs. ICVT - Volatility Comparison
Calamos Convertible Equity Alternative ETF (CVRT) has a higher volatility of 4.19% compared to iShares Convertible Bond ETF (ICVT) at 2.15%. This indicates that CVRT's price experiences larger fluctuations and is considered to be riskier than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.