iShares Convertible Bond ETF (ICVT) Performance
ICVT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.7% since Dec 31, 2025
- 1 year
- +5.3% total return
- 5 years
- +2.4% a year
- 10 years
- +10.6% a year
- Since first price
- +9.2% a year since 2015
ICVT trailing returns vs AGG, TLT, SPY
| Period | ICVT total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −7.9% | −8.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −9.1% | −9.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −5.6% | −6.2% | −1.5% | −3.8% | +7.8% |
| YTD | +7.7% | +6.6% | −1.0% | −3.4% | +12.3% |
| 1 year | +5.3% | +3.7% | −1.1% | −6.9% | +14.4% |
| 3 years | +55.5%+15.9%/yr | +46.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +12.8%+2.4%/yr | +2.6% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +175.0%+10.6%/yr | +122.1% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJun 4, 2015 | +173.7%+9.2%/yr | +112.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ICVT vs AGG
From Jun 4, 2015: ICVT grew to $27,368, AGG to $12,084.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ICVT returns by calendar year
7 of 10 full years positive. Best 2020 (+56.2%), worst 2022 (−20.7%). 2026 is year to date.
ICVT annual returns table
| Year | ICVT | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +7.7% | −15.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +18.1% | −11.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +10.6% | −4.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +15.4% | −9.7% | +5.7% | +2.8% | +26.2% |
| 2022 | −20.7% | −23.4% | −13.0% | −31.2% | −18.2% |
| 2021 | −6.6% | −20.3% | −1.8% | −4.6% | +28.7% |
| 2020 | +56.2% | −32.2% | +7.5% | +18.2% | +18.3% |
| 2019 | +21.8% | −6.6% | +8.5% | +14.1% | +31.2% |
| 2018 | −0.3% | −13.8% | +0.1% | −1.6% | −4.6% |
| 2017 | +16.4% | −3.0% | +3.6% | +9.2% | +21.7% |
| 2016 | +9.7% | −11.1% | +2.4% | +1.2% | +12.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ICVT largest drawdowns
Now 15.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2021 | −37.3% | Jun 16, 2022 | Oct 2, 2025 | 1.3 years | 4.6 years |
| Feb 19, 2020 | −32.2% | Mar 23, 2020 | Jun 5, 2020 | 33 days | 4 months |
| Jun 23, 2015 | −18.5% | Feb 8, 2016 | Oct 10, 2016 | 8 months | 1.3 years |
| Jun 22, 2026 | −15.1% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
| Aug 29, 2018 | −13.8% | Dec 24, 2018 | Feb 25, 2019 | 4 months | 6 months |
| Sep 1, 2020 | −8.6% | Sep 8, 2020 | Oct 9, 2020 | 7 days | 38 days |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
ICVT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2015 |
|---|---|---|---|---|
| Annualized return | +17.4% | +4.5% | +11.4% | +10.3% |
| Volatility (annualized) | 12.9% | 14.1% | 14.7% | 14.7% |
| Sharpe ratio | 0.97 | 0.13 | 0.66 | 0.60 |
| Sortino ratio | 1.77 | 0.18 | 1.07 | 0.96 |
| Best month | +10.9% | +10.9% | +14.4% | +14.4% |
| Worst month | −6.9% | −7.8% | −13.8% | −13.8% |
| Best 12 months | +40.9% | +40.9% | +83.1% | +83.1% |
| Worst 12 months | +7.2% | −30.0% | −31.2% | −31.2% |
| Positive months | 69% | 60% | 65% | 64% |
| Beta vs S&P 500 | 0.81 | 0.66 | 0.75 | — |
| Correlation with S&P 500 | 0.78 | 0.74 | 0.78 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ICVT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 125 | −31.2% | +12.4% | +83.1% | 84% |
| 3-year (a year) | 101 | −7.5% | +11.2% | +25.9% | 84% |
| 5-year (a year) | 77 | +2.0% | +8.2% | +23.0% | 100% |
| 10-year (a year) | 17 | +8.9% | +11.2% | +13.1% | 100% |
Every holding period starting at a month-end since 2015. Returns for 3 years and longer are annualized.
ICVT performance overview
iShares Convertible Bond ETF (ICVT) returned +5.3% over the past year and +10.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2015 it has returned +9.2% a year, turning $10,000 into about $27,368. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −37.3%, from Feb 12, 2021 to Jun 16, 2022, and it took 3.3 years to get back to the old high. ICVT finished 7 of its 10 full calendar years with a gain; the best year was 2020 (+56.2%) and the worst 2022 (−20.7%). Volatility has been 14.7% a year.
Related: ICVT chart, ICVT dividends, ICVT bond profile. See the ICVT overview for the latest quote and fund facts.
ICVT performance FAQ
What is the ICVT return over the past year?
ICVT returned +5.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.7%.
What is the average annual return of ICVT?
ICVT has returned +2.4% a year over 5 years, +10.6% a year over 10 years, +9.2% a year since June 4, 2015 (total return, distributions reinvested).
How much would $10,000 invested in ICVT be worth?
$10,000 invested in ICVT at its first recorded close on June 4, 2015 would be worth about $27,368 on October 23, 2026 with distributions reinvested.
What was the worst year for ICVT?
The worst calendar year was 2022, with a total return of −20.7%. The best was 2020 at +56.2%.
What is the biggest drawdown of ICVT?
The largest peak-to-trough decline was −37.3% between February 12, 2021 and June 16, 2022. It recovered to the old high on October 2, 2025, 3.3 years after the bottom.
How volatile is ICVT?
Over the past 3 years ICVT had an annualized volatility of 12.9% and a Sharpe ratio of 0.97 (excess return over 1–3 month T-bills per unit of risk).