ICVT vs. QQQ
Compare and contrast key facts about iShares Convertible Bond ETF (ICVT) and Invesco QQQ (QQQ).
ICVT and QQQ 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both ICVT and QQQ 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 QQQ.
Key characteristics
| ICVT | QQQ | |
|---|---|---|
| YTD Return | 11.66% | 26.09% |
| 1Y Return | 23.36% | 39.88% |
| 3Y Return (Ann) | -2.27% | 9.90% |
| 5Y Return (Ann) | 11.44% | 21.46% |
| Sharpe Ratio | 2.67 | 2.22 |
| Sortino Ratio | 3.78 | 2.92 |
| Omega Ratio | 1.49 | 1.40 |
| Calmar Ratio | 0.80 | 2.86 |
| Martin Ratio | 14.46 | 10.44 |
| Ulcer Index | 1.55% | 3.72% |
| Daily Std Dev | 8.38% | 17.47% |
| Max Drawdown | -33.25% | -82.98% |
| Current Drawdown | -11.03% | 0.00% |
Correlation
The correlation between ICVT and QQQ is 0.71, 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. QQQ - Performance Comparison
In the year-to-date period, ICVT achieves a 11.66% return, which is significantly lower than QQQ's 26.09% 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. QQQ - Expense Ratio Comparison
Both ICVT and QQQ have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
ICVT vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond ETF (ICVT) and Invesco QQQ (QQQ). 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. QQQ - Dividend Comparison
ICVT's dividend yield for the trailing twelve months is around 2.27%, more than QQQ's 0.59% 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% |
QQQ Invesco QQQ | 0.59% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
ICVT vs. QQQ - Drawdown Comparison
The maximum ICVT drawdown since its inception was -33.25%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for ICVT and QQQ. For additional features, visit the drawdowns tool.
Volatility
ICVT vs. QQQ - Volatility Comparison
The current volatility for iShares Convertible Bond ETF (ICVT) is 2.31%, while Invesco QQQ (QQQ) has a volatility of 5.17%. This indicates that ICVT experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.