ECF vs. ICVT
ECF (Ellsworth Growth and Income Fund Ltd.) is a stock, while ICVT (iShares Convertible Bond ETF) is Preferred Stock/Convertible Bonds fund tracking the Bloomberg U.S. Convertible Cash Pay Bond > $250MM Index. Over the past 10 years, ECF returned 13.44%/yr vs 14.40%/yr for ICVT. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
ECF vs. ICVT - Performance Comparison
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Returns By Period
In the year-to-date period, ECF achieves a 18.23% return, which is significantly lower than ICVT's 26.89% return. Over the past 10 years, ECF has underperformed ICVT with an annualized return of 13.44%, while ICVT has yielded a comparatively higher 14.40% annualized return.
ECF
- 1D
- 0.45%
- 1M
- 3.60%
- YTD
- 18.23%
- 6M
- 16.37%
- 1Y
- 45.28%
- 3Y*
- 25.30%
- 5Y*
- 5.91%
- 10Y*
- 13.44%
ICVT
- 1D
- 0.02%
- 1M
- 5.09%
- YTD
- 26.89%
- 6M
- 24.71%
- 1Y
- 43.39%
- 3Y*
- 20.83%
- 5Y*
- 7.36%
- 10Y*
- 14.40%
ECF vs. ICVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECF Ellsworth Growth and Income Fund Ltd. | 18.23% | 30.03% | 27.48% | 8.01% | -31.63% | -0.79% | 31.72% | 47.17% | -3.70% | 19.51% |
ICVT iShares Convertible Bond ETF | 26.89% | 18.10% | 10.61% | 15.35% | -20.66% | -0.66% | 61.01% | 21.76% | -0.27% | 16.38% |
Correlation
The correlation between ECF and ICVT is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015 | 0.56 |
The correlation between ECF and ICVT shifts across timeframes, from 0.56 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ECF vs. ICVT — Risk / Return Rank
ECF
ICVT
ECF vs. ICVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ellsworth Growth and Income Fund Ltd. (ECF) 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.
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.
| ECF | ICVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.50 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 5.78 | -2.32 |
| Martin ratioReturn relative to average drawdown | 11.16 | 19.71 | -8.55 |
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Drawdowns
ECF vs. ICVT - Drawdown Comparison
The maximum ECF drawdown since its inception was -49.86%, which is greater than ICVT's maximum drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for ECF and ICVT.
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Drawdown Indicators
| ECF | ICVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.86% | -33.25% | -16.61% |
Max Drawdown (1Y)Largest decline over 1 year | -13.16% | -7.55% | -5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -11.22% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -42.58% | -29.95% | -12.63% |
Max Drawdown (10Y)Largest decline over 10 years | -47.28% | -33.25% | -14.03% |
Current DrawdownCurrent decline from peak | -1.71% | 0.00% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -10.14% | -9.46% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 2.21% | +1.86% |
Volatility
ECF vs. ICVT - Volatility Comparison
Ellsworth Growth and Income Fund Ltd. (ECF) and iShares Convertible Bond ETF (ICVT) have volatilities of 7.26% and 6.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECF | ICVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 6.96% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 15.42% | 12.95% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.45% | 15.57% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.93% | 13.49% | +4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.86% | 15.61% | +6.25% |
Dividends
ECF vs. ICVT - Dividend Comparison
ECF's dividend yield for the trailing twelve months is around 7.13%, more than ICVT's 1.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECF Ellsworth Growth and Income Fund Ltd. | 7.13% | 7.39% | 5.47% | 6.44% | 6.52% | 12.14% | 9.59% | 6.63% | 5.82% | 4.68% | 5.32% | 10.22% |
ICVT iShares Convertible Bond ETF | 1.28% | 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
ECF and ICVT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECF has higher volatility (7.26%) compared to ICVT (6.96%). In terms of maximum drawdown, ECF dropped -49.86% vs ICVT's -33.25%.
ICVT currently has the higher Sharpe Ratio (2.81 vs 2.34), 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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