iShares Convertible Bond ETF
$109.83−0.87 (−0.79%)
- 0.20%
- $8.1B
- +11.9%
- 1.45%
- 0.7M sh
- $111.75
- low $94.41high $126.56
The ETF.net ICVT Grade
A
Score 82 out of 100
- 1 of 7
Score 82 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A88 out of 100Rank 1 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 6Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 3 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 2 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A88 out of 100Rank 1 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A87 out of 100Rank 1 of 7
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
- 390
- 12%
- Lumentum Holdings Inc 0.38% 03/15/2032
Sectors
- Consumer Discretionary21.8%
- Health Care20.6%
- Electric12.7%
- Technology8.7%
- Reits7.0%
- Capital Goods6.7%
- Energy4.7%
- Communications4.3%
- Brokerage/Asset Managers/Exchanges4.0%
- Basic Industry4.0%
- Finance Companies3.1%
- Transportation1.0%
- Consumer Non-Cyclical0.7%
- Insurance0.3%
- Natural Gas0.2%
Geography
- United States84.18%
- Netherlands4.93%
- China3.20%
- Israel2.02%
- Australia1.34%
- Bermuda1.01%
- Canada1.01%
- Singapore0.78%
- 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.
ICVT$11,192
Returns run to the Oct 12, 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 | +13.6% |
| 1 month | −2.9% |
| 3 months | −5.8% |
| 1 year | +11.9% |
| 3 years | +17.1% |
| 5 years | +5.2% |
| 10 years | +12.3% |
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 | +13.6% | |
| 2025 | +18.1% | |
| 2024 | +10.6% | |
| 2023 | +15.3% | |
| 2022 | −20.7% | |
| 2021 | −0.5% | |
| 2020 | +61.0% |
ICVT in the news
ICVT Dividends
- 1.45%
- $1.60
- $0.14 per share
- Monthly
Distribution history
ICVT Risk
- 12.9%
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.
- 0.96
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
0.20%
ICVT0.20%
- The middle half of Convertible Bond funds
- Median 0.80%
No Convertible Bond fund charges less.
Other funds in Convertible Bond
- ACWBState Street SPDR Bloomberg Convertible Securities ETFExpense ratio 0.40%1 year return +11.4%
- BCVRTCalamos Convertible Equity Alternative ETFExpense ratio 0.69%1 year return +28.6%
- CFCVTFirst Trust SSI Strategic Convertible Securities ETFExpense ratio 0.95%1 year return +13.1%
- CMCVTMiller Convertible Total Return ETFExpense ratio 0.85%1 year return —
- CACVTAdvent Convertible Bond ETFExpense ratio 0.80%1 year return +7.2%