ICVT vs. BSJP

Last updated Jun 4, 2026

ICVT (iShares Convertible Bond ETF) and BSJP (Invesco BulletShares 2025 High Yield Corporate Bond ETF) are both exchange-traded funds - ICVT is a Preferred Stock/Convertible Bonds fund tracking the Barclays U.S. Convertible Cash Pay Bond > $250MM Index, while BSJP is a High Yield Bonds fund tracking the NASDAQ BulletShares USD High Yield Corporate Bond 2025 TR Index. Both are passively managed. A 0.54 correlation means they provide meaningful diversification when combined. ICVT charges 0.20%/yr vs 0.42%/yr for BSJP.

Performance

ICVT vs. BSJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Convertible Bond ETF (ICVT) and Invesco BulletShares 2025 High Yield Corporate Bond ETF (BSJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ICVT

• 1D: -0.97%
• 1M: 7.16%
• YTD: 25.28%
• 6M: 24.31%
• 1Y: 42.20%
• 3Y*: 21.04%
• 5Y*: 7.79%
• 10Y*: 13.99%

BSJP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICVT vs. BSJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICVT iShares Convertible Bond ETF	25.28%	18.10%	10.61%	15.35%	-20.66%	-0.66%	61.01%	21.76%	-0.27%	2.25%
BSJP Invesco BulletShares 2025 High Yield Corporate Bond ETF	0.00%	4.46%	8.07%	10.41%	-5.16%	4.57%	4.16%	16.89%	-4.66%	0.35%

Correlation

The correlation between ICVT and BSJP is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 28, 2017	0.54

Over the past year, the correlation between ICVT and BSJP has dropped to 0.01 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

ICVT vs. BSJP - Sectors Allocation Comparison

Sectors	ICVT	BSJP
Technology	55.2%	-
Healthcare	44.8%	-
Consumer Cyclical	13.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	0.1%
Financial Services	-	95.2%
Industrials	-	4.7%
Real Estate	-	-
Utilities	-	-

Return for Risk

ICVT vs. BSJP — Risk / Return Rank

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

ICVT

ICVT Risk / Return Rank: 87
ICVT Sharpe Ratio Rank: 87
ICVT Sortino Ratio Rank: 84
ICVT Omega Ratio Rank: 84
ICVT Calmar Ratio Rank: 90
ICVT Martin Ratio Rank: 89

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.

ICVT vs. BSJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and Invesco BulletShares 2025 High Yield Corporate Bond ETF (BSJP). 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.

	ICVT	BSJP	Difference
Sharpe ratio: Return per unit of total volatility	2.95	—	—
Sortino ratio: Return per unit of downside risk	3.84	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	5.62	—	—
Martin ratio: Return relative to average drawdown	20.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ICVT	BSJP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	—	—

Drawdowns

Drawdown Indicators

	ICVT	BSJP	Difference
Max Drawdown Largest peak-to-trough decline	-33.25%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.25%	—	—
Current Drawdown Current decline from peak	-0.97%	—	—
Average Drawdown Average peak-to-trough decline	-9.50%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	—	—

Volatility

Volatility by Period

	ICVT	BSJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.50%	—	—

ICVT vs. BSJP - Expense Ratio Comparison

ICVT has a 0.20% expense ratio, which is lower than BSJP's 0.42% expense ratio.

Dividends

ICVT vs. BSJP - Dividend Comparison

ICVT's dividend yield for the trailing twelve months is around 1.30%, less than BSJP's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJP Invesco BulletShares 2025 High Yield Corporate Bond ETF	2.26%	4.50%	6.25%	7.07%	5.37%	4.27%	4.96%	5.49%	5.84%	1.32%	0.00%	0.00%
ICVT iShares Convertible Bond ETF	1.30%	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 ICVT and BSJP in my portfolio?

ICVT and BSJP have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICVT or BSJP?

On fees, ICVT is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICVT or BSJP?

ICVT is cheaper with a 0.20% expense ratio, compared with 0.42% for BSJP.

Which ETF pays a higher dividend yield, ICVT or BSJP?

BSJP has the higher dividend yield at 2.26%, compared with 1.30% for ICVT.

What is the main difference between ICVT and BSJP?

ICVT is categorized as Preferred Stock/Convertible Bonds, while BSJP is High Yield Bonds. ICVT tracks Barclays U.S. Convertible Cash Pay Bond > $250MM Index, while BSJP tracks NASDAQ BulletShares USD High Yield Corporate Bond 2025 TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for ICVT and 0.42% for BSJP.