HICSX vs. GCV

Last updated Jun 4, 2026

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

Performance

HICSX vs. GCV - Performance Comparison

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

Returns By Period

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

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%

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

HICSX vs. GCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

HICSX vs. GCV — Risk / Return Rank

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

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

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

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.

HICSX vs. GCV - Risk-Adjusted Trends Comparison

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

	HICSX	GCV	Difference
Sharpe ratio: Return per unit of total volatility	3.12	2.80	+0.32
Sortino ratio: Return per unit of downside risk	4.04	3.77	+0.27
Omega ratio: Gain probability vs. loss probability	1.54	1.49	+0.05
Calmar ratio: Return relative to maximum drawdown	6.44	6.03	+0.41
Martin ratio: Return relative to average drawdown	26.49	22.01	+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.

HICSX vs. GCV - Sharpe Ratio Comparison

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

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

Drawdowns

HICSX vs. GCV - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

HICSX vs. GCV - Volatility Comparison

Harbor Convertible Securities Fund (HICSX) has a higher volatility of 5.02% compared to The Gabelli Convertible and Income Securities Fund Inc (GCV) at 4.59%. This indicates that HICSX's price experiences larger fluctuations and is considered to be riskier than GCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

HICSX vs. GCV - Expense Ratio Comparison

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

Dividends

HICSX vs. GCV - Dividend Comparison

HICSX's dividend yield for the trailing twelve months is around 1.46%, less than GCV's 10.17% 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 HICSX and GCV in my portfolio?

HICSX and GCV 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, HICSX or GCV?

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

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.