FPH vs. ICVT

Last updated Jun 23, 2026

FPH (Five Point Holdings, LLC) 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 5 years, FPH returned -9.19%/yr vs 7.36%/yr for ICVT. At a 0.29 correlation, their price movements are largely independent.

Performance

FPH vs. ICVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Five Point Holdings, LLC (FPH) 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, FPH achieves a -10.73% return, which is significantly lower than ICVT's 26.89% return.

FPH

• 1D: -2.54%
• 1M: 1.84%
• YTD: -10.73%
• 6M: -8.78%
• 1Y: -9.27%
• 3Y*: 23.18%
• 5Y*: -9.19%
• 10Y*: —

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%

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

FPH vs. ICVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPH Five Point Holdings, LLC	-10.73%	47.88%	23.13%	31.76%	-64.37%	19.78%	-21.44%	0.14%	-50.78%	-7.24%
ICVT iShares Convertible Bond ETF	26.89%	18.10%	10.61%	15.35%	-20.66%	-0.66%	61.01%	21.76%	-0.27%	8.16%

Correlation

The correlation between FPH and ICVT is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 10, 2017	0.29

Return for Risk

FPH vs. ICVT — Risk / Return Rank

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

FPH

FPH Risk / Return Rank: 29
FPH Sharpe Ratio Rank: 30
FPH Sortino Ratio Rank: 27
FPH Omega Ratio Rank: 27
FPH Calmar Ratio Rank: 31
FPH Martin Ratio Rank: 31

ICVT

ICVT Risk / Return Rank: 88
ICVT Sharpe Ratio Rank: 89
ICVT Sortino Ratio Rank: 84
ICVT Omega Ratio Rank: 86
ICVT Calmar Ratio Rank: 92
ICVT Martin Ratio Rank: 90

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.

FPH vs. ICVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Five Point Holdings, LLC (FPH) 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.

	FPH	ICVT	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	2.81	-3.09
Sortino ratio: Return per unit of downside risk	-0.18	3.57	-3.75
Omega ratio: Gain probability vs. loss probability	0.98	1.50	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.34	5.78	-6.12
Martin ratio: Return relative to average drawdown	-0.59	19.71	-20.30

FPH vs. ICVT - Sharpe Ratio Comparison

The current FPH Sharpe Ratio is -0.29, which is lower than the ICVT Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of FPH and ICVT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FPH vs. ICVT - Drawdown Comparison

The maximum FPH drawdown since its inception was -87.96%, which is greater than ICVT's maximum drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for FPH and ICVT.

Drawdown Indicators

	FPH	ICVT	Difference
Max Drawdown Largest peak-to-trough decline	-87.96%	-33.25%	-54.71%
Max Drawdown (1Y) Largest decline over 1 year	-27.43%	-7.55%	-19.88%
Max Drawdown (3Y) Largest decline over 3 years	-39.27%	-11.22%	-28.05%
Max Drawdown (5Y) Largest decline over 5 years	-77.32%	-29.95%	-47.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.25%	—
Current Drawdown Current decline from peak	-69.67%	0.00%	-69.67%
Average Drawdown Average peak-to-trough decline	-60.61%	-9.46%	-51.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.79%	2.21%	+13.58%

Volatility

FPH vs. ICVT - Volatility Comparison

Five Point Holdings, LLC (FPH) and iShares Convertible Bond ETF (ICVT) have volatilities of 6.76% 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.

Volatility by Period

	FPH	ICVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	6.96%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	12.95%	+6.69%
Volatility (1Y) Calculated over the trailing 1-year period	32.34%	15.57%	+16.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.80%	13.49%	+33.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.43%	15.61%	+31.82%

Dividends

FPH vs. ICVT - Dividend Comparison

FPH has not paid dividends to shareholders, while ICVT's dividend yield for the trailing twelve months is around 1.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPH Five Point Holdings, LLC	0.00%	0.00%	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	1.28%	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

Can I hold both FPH and ICVT in my portfolio?

FPH and ICVT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPH or ICVT?

ICVT has higher volatility (6.96%) compared to FPH (6.76%). In terms of maximum drawdown, FPH dropped -87.96% vs ICVT's -33.25%.

Which has better risk-adjusted returns?

ICVT currently has the higher Sharpe Ratio (2.81 vs -0.29), 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.