ICVT vs. CWB
Compare and contrast key facts about iShares Convertible Bond ETF (ICVT) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB).
ICVT and CWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. Both ICVT and CWB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ICVT or CWB.
Key characteristics
| ICVT | CWB | |
|---|---|---|
| YTD Return | 12.67% | 11.80% |
| 1Y Return | 23.75% | 22.72% |
| 3Y Return (Ann) | -1.74% | -1.53% |
| 5Y Return (Ann) | 11.60% | 10.79% |
| Sharpe Ratio | 2.85 | 2.77 |
| Sortino Ratio | 4.06 | 3.96 |
| Omega Ratio | 1.53 | 1.50 |
| Calmar Ratio | 0.87 | 0.95 |
| Martin Ratio | 15.51 | 15.17 |
| Ulcer Index | 1.55% | 1.52% |
| Daily Std Dev | 8.41% | 8.31% |
| Max Drawdown | -33.25% | -32.06% |
| Current Drawdown | -10.22% | -7.04% |
Correlation
The correlation between ICVT and CWB is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ICVT vs. CWB - Performance Comparison
In the year-to-date period, ICVT achieves a 12.67% return, which is significantly higher than CWB's 11.80% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ICVT vs. CWB - Expense Ratio Comparison
ICVT has a 0.20% expense ratio, which is lower than CWB's 0.40% expense ratio.
Risk-Adjusted Performance
ICVT vs. CWB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). 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.
Dividends
ICVT vs. CWB - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 2.25%, more than CWB's 1.72% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICVT iShares Convertible Bond ETF | 2.25% | 1.84% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% | 0.00% | 0.00% |
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.72% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% | 7.36% | 3.66% |
Drawdowns
ICVT vs. CWB - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, roughly equal to the maximum CWB drawdown of -32.06%. Use the drawdown chart below to compare losses from any high point for ICVT and CWB. For additional features, visit the drawdowns tool.
Volatility
ICVT vs. CWB - Volatility Comparison
iShares Convertible Bond ETF (ICVT) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB) have volatilities of 2.49% and 2.41%, 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.