ICVT vs. ACVT
ICVT (iShares Convertible Bond ETF) and ACVT (Advent Convertible Bond ETF) are both Convertible Bonds funds. ICVT is passively managed, while ACVT is actively managed. Over the past year, ICVT returned 25.68% vs 9.04% for ACVT. Their 0.58 correlation means they have sometimes moved together and sometimes differently. ICVT charges 0.20%/yr vs 0.65%/yr for ACVT.
Performance
ICVT vs. ACVT - Performance Comparison
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Returns By Period
In the year-to-date period, ICVT achieves a 15.73% return, which is significantly higher than ACVT's 6.12% return.
ICVT
- 1D
- -0.13%
- 1M
- -3.58%
- 6M
- 10.12%
- YTD
- 15.73%
- 1Y
- 25.68%
- 3Y*
- 15.44%
- 5Y*
- 5.74%
- 10Y*
- 12.80%
- ALL TIME*
- 11.03%
ACVT
- 1D
- 0.31%
- 1M
- -0.18%
- 6M
- 5.24%
- YTD
- 6.12%
- 1Y
- 9.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.70K | $2.25K | $22.89K | |
| $56.37M | $69.08M | $90.45M |
ICVT vs. ACVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICVT iShares Convertible Bond ETF | 15.73% | 17.56% |
ACVT Advent Convertible Bond ETF | 6.12% | 8.04% |
Correlation
The correlation between ICVT and ACVT is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025 | 0.58 |
The correlation between ICVT and ACVT has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
ICVT vs. ACVT — Risk / Return Rank
ICVT
ACVT
ICVT vs. ACVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and Advent Convertible Bond ETF (ACVT). 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.
| ICVT | ACVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.84 | +0.25 |
| Martin ratioReturn relative to average drawdown | 7.79 | 6.54 | +1.26 |
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Drawdowns
ICVT vs. ACVT - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, which is greater than ACVT's maximum drawdown of -4.81%. Use the drawdown chart below to compare losses from any high point for ICVT and ACVT.
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Drawdown Indicators
| ICVT | ACVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -4.81% | -28.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -4.81% | -6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | — | — |
Current DrawdownCurrent decline from peak | -8.79% | -0.29% | -8.50% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -0.82% | -8.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 1.35% | +1.76% |
Volatility
ICVT vs. ACVT - Volatility Comparison
iShares Convertible Bond ETF (ICVT) has a higher volatility of 6.39% compared to Advent Convertible Bond ETF (ACVT) at 1.72%. This indicates that ICVT's price experiences larger fluctuations and is considered to be riskier than ACVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICVT | ACVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.39% | 1.72% | +4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 14.58% | 4.82% | +9.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 5.93% | +11.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 5.77% | +8.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 5.77% | +9.96% |
ICVT vs. ACVT - Expense Ratio Comparison
ICVT has a 0.20% expense ratio, which is lower than ACVT's 0.65% expense ratio.
Dividends
ICVT vs. ACVT - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 1.39%, less than ACVT's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACVT Advent Convertible Bond ETF | 1.53% | 1.19% | 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 | 1.29% | 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
ICVT and ACVT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICVT has higher volatility (6.39%) compared to ACVT (1.72%). In terms of maximum drawdown, ICVT dropped -33.25% vs ACVT's -4.81%.
On 1-year performance, ICVT leads with 25.68% vs 9.04% for ACVT. On fees, ICVT is cheaper at 0.20% per year. On volatility, ACVT has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ICVT has performed better with a 25.68% return vs 9.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICVT is cheaper with a 0.20% expense ratio, compared with 0.65% for ACVT.
ACVT has the higher dividend yield at 1.53%, compared with 1.29% for ICVT.
They also come from different issuers: iShares and Advent. Their fees differ too: 0.20% for ICVT and 0.65% for ACVT.
ACVT currently has the higher Sharpe Ratio (1.49 vs 1.41), 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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