ICVT vs. PRFRX
Compare and contrast key facts about iShares Convertible Bond ETF (ICVT) and T. Rowe Price Floating Rate Fund (PRFRX).
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. PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011.
Performance
ICVT vs. PRFRX - Performance Comparison
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ICVT vs. PRFRX - 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% | 16.38% |
PRFRX T. Rowe Price Floating Rate Fund | -0.06% | 13.09% | 8.80% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Returns By Period
In the year-to-date period, ICVT achieves a 3.58% return, which is significantly higher than PRFRX's -0.06% return. Over the past 10 years, ICVT has outperformed PRFRX with an annualized return of 12.24%, while PRFRX has yielded a comparatively lower 5.66% annualized 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%
PRFRX
- 1D
- 0.00%
- 1M
- -0.11%
- YTD
- -0.06%
- 6M
- 3.35%
- 1Y
- 11.72%
- 3Y*
- 10.22%
- 5Y*
- 7.18%
- 10Y*
- 5.66%
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ICVT vs. PRFRX - Expense Ratio Comparison
ICVT has a 0.20% expense ratio, which is lower than PRFRX's 0.75% expense ratio.
Return for Risk
ICVT vs. PRFRX — Risk / Return Rank
ICVT
PRFRX
ICVT vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and T. Rowe Price Floating Rate Fund (PRFRX). 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 | PRFRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 3.66 | -1.94 |
Sortino ratioReturn per unit of downside risk | 2.33 | 7.34 | -5.01 |
Omega ratioGain probability vs. loss probability | 1.32 | 2.39 | -1.07 |
Calmar ratioReturn relative to maximum drawdown | 3.10 | 5.81 | -2.71 |
Martin ratioReturn relative to average drawdown | 10.57 | 28.10 | -17.52 |
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 | PRFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 3.66 | -1.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 2.48 | -2.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 1.45 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 1.43 | -0.76 |
Correlation
The correlation between ICVT and PRFRX is 0.25, 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. PRFRX - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 1.62%, less than PRFRX's 12.94% 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% |
PRFRX T. Rowe Price Floating Rate Fund | 12.94% | 12.91% | 8.17% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Drawdowns
ICVT vs. PRFRX - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for ICVT and PRFRX.
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Drawdown Indicators
| ICVT | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.25% | -20.05% | -13.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -2.07% | -5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -29.95% | -5.94% | -24.01% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -20.05% | -13.20% |
Current DrawdownCurrent decline from peak | -3.67% | -0.64% | -3.03% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -0.69% | -8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.43% | +1.78% |
Volatility
ICVT vs. PRFRX - Volatility Comparison
iShares Convertible Bond ETF (ICVT) has a higher volatility of 6.74% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.74%. This indicates that ICVT's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICVT | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 0.74% | +6.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 2.18% | +9.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.02% | 3.34% | +10.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.20% | 2.91% | +10.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 3.92% | +11.62% |