GCV vs. HICSX

Last updated Jun 4, 2026

GCV (The Gabelli Convertible and Income Securities Fund Inc) and HICSX (Harbor Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, GCV returned 10.56%/yr vs 10.53%/yr for HICSX. At a 0.43 correlation, their price movements are largely independent. GCV charges 0.01%/yr vs 1.12%/yr for HICSX.

Performance

GCV vs. HICSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Gabelli Convertible and Income Securities Fund Inc (GCV) and Harbor Convertible Securities Fund (HICSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCV achieves a 16.95% return, which is significantly lower than HICSX's 23.92% return. Both investments have delivered pretty close results over the past 10 years, with GCV having a 10.56% annualized return and HICSX not far behind at 10.53%.

GCV

• 1D: -0.42%
• 1M: 5.12%
• YTD: 16.95%
• 6M: 18.60%
• 1Y: 42.59%
• 3Y*: 15.79%
• 5Y*: 4.96%
• 10Y*: 10.56%

HICSX

• 1D: 1.41%
• 1M: 7.06%
• YTD: 23.92%
• 6M: 24.19%
• 1Y: 43.62%
• 3Y*: 21.62%
• 5Y*: 9.31%
• 10Y*: 10.53%

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

GCV vs. HICSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCV The Gabelli Convertible and Income Securities Fund Inc	16.95%	22.86%	19.93%	-15.58%	-23.95%	19.99%	16.97%	45.72%	-19.03%	37.30%
HICSX Harbor Convertible Securities Fund	23.92%	19.99%	12.36%	10.37%	-15.55%	2.07%	31.41%	17.89%	-0.65%	7.93%

Correlation

The correlation between GCV and HICSX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.43

The correlation between GCV and HICSX shifts across timeframes, from 0.42 (5 years) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GCV vs. HICSX — Risk / Return Rank

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

GCV

GCV Risk / Return Rank: 86
GCV Sharpe Ratio Rank: 86
GCV Sortino Ratio Rank: 79
GCV Omega Ratio Rank: 74
GCV Calmar Ratio Rank: 96
GCV Martin Ratio Rank: 95

HICSX

HICSX Risk / Return Rank: 90
HICSX Sharpe Ratio Rank: 92
HICSX Sortino Ratio Rank: 85
HICSX Omega Ratio Rank: 81
HICSX Calmar Ratio Rank: 96
HICSX Martin Ratio Rank: 97

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.

GCV vs. HICSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Gabelli Convertible and Income Securities Fund Inc (GCV) and Harbor Convertible Securities Fund (HICSX). 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.

	GCV	HICSX	Difference
Sharpe ratio: Return per unit of total volatility	2.80	3.12	-0.32
Sortino ratio: Return per unit of downside risk	3.77	4.04	-0.27
Omega ratio: Gain probability vs. loss probability	1.49	1.54	-0.05
Calmar ratio: Return relative to maximum drawdown	6.03	6.44	-0.41
Martin ratio: Return relative to average drawdown	22.01	26.49	-4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCV vs. HICSX - Sharpe Ratio Comparison

The current GCV Sharpe Ratio is 2.80, which is comparable to the HICSX Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of GCV and HICSX, 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

	GCV	HICSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	3.12	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.82	-0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.98	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.88	-0.70

Drawdowns

GCV vs. HICSX - Drawdown Comparison

The maximum GCV drawdown since its inception was -55.67%, which is greater than HICSX's maximum drawdown of -23.68%. Use the drawdown chart below to compare losses from any high point for GCV and HICSX.

Drawdown Indicators

	GCV	HICSX	Difference
Max Drawdown Largest peak-to-trough decline	-55.67%	-23.68%	-31.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-6.92%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-25.32%	-11.24%	-14.08%
Max Drawdown (5Y) Largest decline over 5 years	-45.90%	-22.03%	-23.87%
Max Drawdown (10Y) Largest decline over 10 years	-45.90%	-23.68%	-22.22%
Current Drawdown Current decline from peak	-0.42%	0.00%	-0.42%
Average Drawdown Average peak-to-trough decline	-12.56%	-4.77%	-7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.68%	+0.26%

Volatility

GCV vs. HICSX - Volatility Comparison

The current volatility for The Gabelli Convertible and Income Securities Fund Inc (GCV) is 4.59%, while Harbor Convertible Securities Fund (HICSX) has a volatility of 5.02%. This indicates that GCV experiences smaller price fluctuations and is considered to be less risky than HICSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCV	HICSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.02%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	11.61%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	15.29%	14.28%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	11.35%	+9.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.51%	10.83%	+12.68%

GCV vs. HICSX - Expense Ratio Comparison

GCV has a 0.01% expense ratio, which is lower than HICSX's 1.12% expense ratio.

Dividends

GCV vs. HICSX - Dividend Comparison

GCV's dividend yield for the trailing twelve months is around 10.17%, more than HICSX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCV The Gabelli Convertible and Income Securities Fund Inc	10.17%	11.57%	12.60%	13.33%	10.00%	8.14%	7.68%	8.21%	10.93%	8.14%	8.72%	10.04%
HICSX Harbor Convertible Securities Fund	1.46%	1.95%	3.22%	2.91%	0.44%	14.09%	9.57%	3.61%	6.45%	10.65%	0.98%	3.95%

Frequently Asked Questions

Can I hold both GCV and HICSX in my portfolio?

GCV and HICSX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCV or HICSX?

HICSX has higher volatility (5.02%) compared to GCV (4.59%). In terms of maximum drawdown, GCV dropped -55.67% vs HICSX's -23.68%.

Which has better risk-adjusted returns?

HICSX currently has the higher Sharpe Ratio (3.12 vs 2.80), 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.