ICVT vs. PREF
Compare and contrast key facts about iShares Convertible Bond ETF (ICVT) and Principal Spectrum Preferred Secs Active ETF (PREF).
ICVT and PREF 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. PREF is an actively managed fund by Principal. It was launched on Jul 10, 2017.
Performance
ICVT vs. PREF - Performance Comparison
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ICVT vs. PREF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICVT iShares Convertible Bond ETF | 3.58% | 18.10% | 10.61% | 15.35% | -20.66% | -0.66% | 61.01% | 21.76% | -0.27% | 2.90% |
PREF Principal Spectrum Preferred Secs Active ETF | -0.46% | 7.64% | 11.43% | 7.36% | -11.80% | 2.08% | 7.52% | 17.32% | -5.45% | 2.05% |
Returns By Period
In the year-to-date period, ICVT achieves a 3.58% return, which is significantly higher than PREF's -0.46% return.
ICVT
- 1D
- 2.66%
- 1M
- -2.73%
- YTD
- 3.58%
- 6M
- 2.56%
- 1Y
- 23.90%
- 3Y*
- 14.18%
- 5Y*
- 3.55%
- 10Y*
- 12.24%
PREF
- 1D
- 0.48%
- 1M
- -1.76%
- YTD
- -0.46%
- 6M
- 0.91%
- 1Y
- 5.77%
- 3Y*
- 8.59%
- 5Y*
- 3.06%
- 10Y*
- —
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ICVT vs. PREF - Expense Ratio Comparison
ICVT has a 0.20% expense ratio, which is lower than PREF's 0.55% expense ratio.
Return for Risk
ICVT vs. PREF — Risk / Return Rank
ICVT
PREF
ICVT vs. PREF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and Principal Spectrum Preferred Secs Active ETF (PREF). 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 | PREF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 1.69 | +0.03 |
Sortino ratioReturn per unit of downside risk | 2.33 | 2.22 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.34 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 3.10 | 1.95 | +1.14 |
Martin ratioReturn relative to average drawdown | 10.57 | 8.56 | +2.01 |
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 | PREF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.69 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.64 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.63 | +0.04 |
Correlation
The correlation between ICVT and PREF is 0.32, 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.
Dividends
ICVT vs. PREF - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 1.62%, less than PREF's 5.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICVT iShares Convertible Bond ETF | 1.62% | 1.73% | 2.19% | 1.85% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% |
PREF Principal Spectrum Preferred Secs Active ETF | 5.01% | 4.87% | 4.65% | 4.67% | 4.63% | 4.07% | 4.35% | 4.67% | 5.49% | 2.35% | 0.00% | 0.00% |
Drawdowns
ICVT vs. PREF - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, which is greater than PREF's maximum drawdown of -22.99%. Use the drawdown chart below to compare losses from any high point for ICVT and PREF.
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Drawdown Indicators
| ICVT | PREF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -22.99% | -10.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -2.88% | -4.67% |
Max Drawdown (5Y)Largest decline over 5 years | -29.95% | -16.99% | -12.96% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | — | — |
Current DrawdownCurrent decline from peak | -3.67% | -1.96% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -3.73% | -5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.66% | +1.55% |
Volatility
ICVT vs. PREF - Volatility Comparison
iShares Convertible Bond ETF (ICVT) has a higher volatility of 6.74% compared to Principal Spectrum Preferred Secs Active ETF (PREF) at 1.73%. This indicates that ICVT's price experiences larger fluctuations and is considered to be riskier than PREF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICVT | PREF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 1.73% | +5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 2.49% | +9.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.02% | 3.44% | +10.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.20% | 4.84% | +8.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 6.35% | +9.19% |