ICVT vs. FPE
Compare and contrast key facts about iShares Convertible Bond ETF (ICVT) and First Trust Preferred Securities & Income ETF (FPE).
ICVT and FPE 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. FPE is an actively managed fund by First Trust. It was launched on Feb 12, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ICVT or FPE.
Key characteristics
| ICVT | FPE | |
|---|---|---|
| YTD Return | 11.61% | 11.96% |
| 1Y Return | 22.30% | 19.36% |
| 3Y Return (Ann) | -2.28% | 1.32% |
| 5Y Return (Ann) | 11.44% | 3.43% |
| Sharpe Ratio | 2.60 | 4.34 |
| Sortino Ratio | 3.69 | 6.53 |
| Omega Ratio | 1.47 | 1.97 |
| Calmar Ratio | 0.78 | 1.46 |
| Martin Ratio | 14.11 | 33.49 |
| Ulcer Index | 1.55% | 0.58% |
| Daily Std Dev | 8.39% | 4.52% |
| Max Drawdown | -33.25% | -33.35% |
| Current Drawdown | -11.07% | -0.54% |
Correlation
The correlation between ICVT and FPE is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
ICVT vs. FPE - Performance Comparison
The year-to-date returns for both investments are quite close, with ICVT having a 11.61% return and FPE slightly higher at 11.96%. 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. FPE - Expense Ratio Comparison
ICVT has a 0.20% expense ratio, which is lower than FPE's 0.85% expense ratio.
Risk-Adjusted Performance
ICVT vs. FPE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and First Trust Preferred Securities & Income ETF (FPE). 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. FPE - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 2.27%, less than FPE's 5.59% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICVT iShares Convertible Bond ETF | 2.27% | 1.84% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% | 0.00% | 0.00% |
FPE First Trust Preferred Securities & Income ETF | 5.59% | 6.04% | 5.67% | 4.50% | 4.88% | 5.32% | 6.14% | 5.39% | 5.98% | 5.49% | 6.00% | 4.70% |
Drawdowns
ICVT vs. FPE - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, roughly equal to the maximum FPE drawdown of -33.35%. Use the drawdown chart below to compare losses from any high point for ICVT and FPE. For additional features, visit the drawdowns tool.
Volatility
ICVT vs. FPE - Volatility Comparison
iShares Convertible Bond ETF (ICVT) has a higher volatility of 2.31% compared to First Trust Preferred Securities & Income ETF (FPE) at 1.17%. This indicates that ICVT's price experiences larger fluctuations and is considered to be riskier than FPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.