ICVT vs. ECF
ICVT (iShares Convertible Bond ETF) is Preferred Stock/Convertible Bonds fund tracking the Barclays U.S. Convertible Cash Pay Bond > $250MM Index, while ECF (Ellsworth Growth and Income Fund Ltd.) is a stock. Over the past 10 years, ICVT returned 13.99%/yr vs 13.42%/yr for ECF. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
ICVT vs. ECF - Performance Comparison
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Returns By Period
In the year-to-date period, ICVT achieves a 25.28% return, which is significantly higher than ECF's 19.06% return. Both investments have delivered pretty close results over the past 10 years, with ICVT having a 13.99% annualized return and ECF not far behind at 13.42%.
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%
ECF
- 1D
- -1.02%
- 1M
- 7.75%
- YTD
- 19.06%
- 6M
- 17.55%
- 1Y
- 49.68%
- 3Y*
- 27.37%
- 5Y*
- 7.09%
- 10Y*
- 13.42%
ICVT vs. ECF - 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% | 16.38% |
ECF Ellsworth Growth and Income Fund Ltd. | 19.06% | 30.03% | 27.48% | 8.01% | -31.63% | -0.79% | 31.72% | 47.17% | -3.70% | 19.51% |
Correlation
The correlation between ICVT and ECF is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2015 | 0.56 |
The correlation between ICVT and ECF shifts across timeframes, from 0.56 (all time) to 0.67 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICVT vs. ECF — Risk / Return Rank
ICVT
ECF
ICVT vs. ECF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and Ellsworth Growth and Income Fund Ltd. (ECF). 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 | ECF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.44 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.62 | 3.79 | +1.83 |
| Martin ratioReturn relative to average drawdown | 20.48 | 12.64 | +7.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICVT | ECF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | 2.68 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.40 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.62 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.37 | +0.41 |
Drawdowns
ICVT vs. ECF - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, smaller than the maximum ECF drawdown of -49.86%. Use the drawdown chart below to compare losses from any high point for ICVT and ECF.
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Drawdown Indicators
| ICVT | ECF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -49.86% | +16.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -13.16% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -11.22% | -16.83% | +5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -29.95% | -42.58% | +12.63% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -47.28% | +14.03% |
Current DrawdownCurrent decline from peak | -0.97% | -1.02% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -9.50% | -10.15% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 3.94% | -1.87% |
Volatility
ICVT vs. ECF - Volatility Comparison
iShares Convertible Bond ETF (ICVT) and Ellsworth Growth and Income Fund Ltd. (ECF) have volatilities of 5.53% and 5.59%, 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.
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Volatility by Period
| ICVT | ECF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 5.59% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 14.52% | -2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.36% | 18.60% | -4.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.23% | 17.71% | -4.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 21.78% | -6.28% |
Dividends
ICVT vs. ECF - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 1.30%, less than ECF's 6.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECF Ellsworth Growth and Income Fund Ltd. | 6.75% | 7.39% | 5.47% | 6.44% | 6.52% | 12.14% | 9.59% | 6.63% | 5.82% | 4.68% | 5.32% | 10.22% |
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
ICVT and ECF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECF has higher volatility (5.59%) compared to ICVT (5.53%). In terms of maximum drawdown, ICVT dropped -33.25% vs ECF's -49.86%.
ICVT currently has the higher Sharpe Ratio (2.95 vs 2.68), 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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