VBND vs. ICVT

Last updated Apr 1, 2026

Compare and contrast key facts about Vident U.S. Bond Strategy ETF (VBND) and iShares Convertible Bond ETF (ICVT).

VBND and ICVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBND is a passively managed fund by Vident that tracks the performance of the Vident Core U.S. Bond Strategy Index. It was launched on Oct 15, 2014. 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. Both VBND and ICVT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VBND vs. ICVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident U.S. Bond Strategy ETF (VBND) and iShares Convertible Bond ETF (ICVT). The values are adjusted to include any dividend payments, if applicable.

VBND vs. ICVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBND Vident U.S. Bond Strategy ETF	-0.88%	7.31%	1.26%	8.16%	-14.18%	-0.43%	5.37%	9.50%	-0.96%	3.15%
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%

Returns By Period

In the year-to-date period, VBND achieves a -0.88% return, which is significantly lower than ICVT's 3.58% return. Over the past 10 years, VBND has underperformed ICVT with an annualized return of 1.53%, while ICVT has yielded a comparatively higher 12.24% annualized return.

VBND

• 1D: 0.13%
• 1M: -2.13%
• YTD: -0.88%
• 6M: 0.08%
• 1Y: 3.41%
• 3Y*: 3.98%
• 5Y*: 0.44%
• 10Y*: 1.53%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBND vs. ICVT - Expense Ratio Comparison

VBND has a 0.41% expense ratio, which is higher than ICVT's 0.20% expense ratio.

VBND

Vident U.S. Bond Strategy ETF

ICVT

iShares Convertible Bond ETF

Return for Risk

VBND vs. ICVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBND

VBND Risk / Return Rank: 38
VBND Sharpe Ratio Rank: 38
VBND Sortino Ratio Rank: 35
VBND Omega Ratio Rank: 31
VBND Calmar Ratio Rank: 51
VBND Martin Ratio Rank: 35

ICVT

ICVT Risk / Return Rank: 87
ICVT Sharpe Ratio Rank: 86
ICVT Sortino Ratio Rank: 87
ICVT Omega Ratio Rank: 83
ICVT Calmar Ratio Rank: 91
ICVT Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VBND vs. ICVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) and iShares Convertible Bond ETF (ICVT). 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.

	VBND	ICVT	Difference
Sharpe ratio Return per unit of total volatility	0.70	1.71	-1.01
Sortino ratio Return per unit of downside risk	1.00	2.33	-1.33
Omega ratio Gain probability vs. loss probability	1.12	1.32	-0.19
Calmar ratio Return relative to maximum drawdown	1.31	3.10	-1.79
Martin ratio Return relative to average drawdown	3.13	10.57	-7.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBND vs. ICVT - Sharpe Ratio Comparison

The current VBND Sharpe Ratio is 0.70, which is lower than the ICVT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of VBND and ICVT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VBND	ICVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	1.71	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.27	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.79	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.67	-0.37

Correlation

The correlation between VBND and ICVT is 0.06, 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

VBND vs. ICVT - Dividend Comparison

VBND's dividend yield for the trailing twelve months is around 4.17%, more than ICVT's 1.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBND Vident U.S. Bond Strategy ETF	4.17%	4.22%	4.41%	3.88%	2.55%	1.56%	1.98%	3.14%	2.82%	2.00%	3.12%	1.49%
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%

Drawdowns

VBND vs. ICVT - Drawdown Comparison

The maximum VBND drawdown since its inception was -18.97%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for VBND and ICVT.

Drawdown Indicators

	VBND	ICVT	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-33.25%	+14.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-7.55%	+4.73%
Max Drawdown (5Y) Largest decline over 5 years	-18.97%	-29.95%	+10.98%
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	-33.25%	+14.28%
Current Drawdown Current decline from peak	-2.13%	-3.67%	+1.54%
Average Drawdown Average peak-to-trough decline	-4.25%	-9.64%	+5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	2.21%	-1.03%

Volatility

VBND vs. ICVT - Volatility Comparison

The current volatility for Vident U.S. Bond Strategy ETF (VBND) is 1.48%, while iShares Convertible Bond ETF (ICVT) has a volatility of 6.74%. This indicates that VBND experiences smaller price fluctuations and is considered to be less risky than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBND	ICVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	6.74%	-5.26%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	11.65%	-8.74%
Volatility (1Y) Calculated over the trailing 1-year period	4.87%	14.02%	-9.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.10%	13.20%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	15.54%	-10.09%