iShares Convertible Bond ETF
$114.51−0.92 (−0.80%)
- Expense ratio
- 0.20%
- Fund size
- $8.0B
- 1Y return
- +17.0%
- Yield · Last 12 months
- 1.38%
- Holdings
- 387
- Volume · 30D
- 0.7M sh
- NAV per share
- $115.11
- 52W range
The ETF.net ICVT Grade
Score 84 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 88Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 54Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 72Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 92Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 87Category rank
Our read on ICVT
AConvertible bonds are corporate debt with a stock option attached. ICVT owns the plain-vanilla slice (cash-pay bonds, big issues only) by index, at 0.20% a year, the lowest fee among the handful of convertible ETFs on the market.
The fund seeks to track an index of U.S. dollar-denominated convertible bonds with issue sizes above $250 million.
Why people hold it
- 0.20% a year, against a category median of 0.80%. The next-cheapest convertible ETF, CWB, charges 0.40%, and the active options in the group run 0.69% to 0.95%.
- Rules, not hunches: it follows the Bloomberg U.S. Convertible Cash Pay Bond >$250MM Index and has tracked it closely, with no manager discretion in the mix.ishares.com
- The index takes only cash-pay converts above $250 million in issue size, screening out zero-coupon, preferred and mandatory structures plus called and defaulted paper.sec.gov
- A multi-billion-dollar fund trading a few hundred bonds, running since 2015 and paying distributions monthly.
Worth knowing
- Converts move with the issuer's stock. The bond floor cushions, but this behaves more like an equity-sensitive hybrid than a core bond fund.sec.gov
- Convertible issuers are often unrated or below investment grade, so credit risk sits inside the portfolio alongside the rate risk.ishares.com
- Cash-pay only means no convertible preferreds or mandatories, so it is a clean core slice rather than the entire convertible market.sec.gov
ICVT Holdings
- Bonds
- 387
- 12%
- WESTERN DIGITAL CORPORATION 3.00% 11/15/2028
Sectors
- Health Care100.0%
Geography
- United States82.87%
- Netherlands6.10%
- China3.28%
- Israel2.02%
- Australia1.58%
- Canada1.05%
- Singapore0.83%
- Bermuda0.75%
- 1.52%
ICVT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ICVT |
|---|---|
| Year to date | +18.3% |
| 1 month | −0.3% |
| 3 months | −6.8% |
| 1 year | +17.0% |
| 3 years | +18.3% |
| 5 years | +5.8% |
| 10 years | +12.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ICVT |
|---|---|---|
| 2026 YTD | +18.3% | |
| 2025 | +18.1% | |
| 2024 | +10.6% | |
| 2023 | +15.3% | |
| 2022 | −20.7% | |
| 2021 | −0.5% | |
| 2020 | +61.0% |
ICVT in the news
ETF.net Research hasn’t filed on ICVT yet — coverage lands here as it’s written.
ICVT Dividends
- 1.38%
- $1.59
- $0.13 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.13 |
| Aug 3, 2026 | Aug 6, 2026 | $0.14 |
| Jul 1, 2026 | Jul 7, 2026 | $0.12 |
| Jun 1, 2026 | Jun 4, 2026 | $0.13 |
| May 1, 2026 | May 6, 2026 | $0.12 |
| Apr 1, 2026 | Apr 7, 2026 | $0.13 |
| Mar 2, 2026 | Mar 5, 2026 | $0.13 |
| Feb 2, 2026 | Feb 5, 2026 | $0.11 |
| Dec 19, 2025 | Dec 24, 2025 | $0.22 |
| Dec 1, 2025 | Dec 4, 2025 | $0.12 |
| Nov 3, 2025 | Nov 6, 2025 | $0.11 |
| Oct 1, 2025 | Oct 6, 2025 | $0.13 |
ICVT Risk
- 13.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.91
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −29.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.06
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ICVT Cost
- The middle half of Convertible Bond funds
- Median 0.80%
No Convertible Bond fund charges less.