ICVT vs IVV
iShares Convertible Bond ETF vs iShares Core S&P 500 ETF
Which is better, ICVT or IVV?
Convertibles against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ICVT | IVV |
|---|---|---|
| Expense Ratio | 0.20% | 0.03%Best |
| AUM | $7.8B | $886.7B |
| Dividend Yield | 1.39% | 1.10% |
| Holdings | 377 | 508 |
| YTD Return | +14.00%Best | +13.86% |
| 1Y Return | +21.57%Tie | +21.57%Tie |
| 3Y Return (annualized) | +16.58% | +21.48%Best |
| 5Y Return (annualized) | +4.97% | +12.88%Best |
| Volatility (annualized) | 14.6%Best | 15.2% |
| Max Drawdown | -33.3%Best | -33.9% |
| $10,000 over 5 years | $12,745 | $18,327Best |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Blend |
| Inception | Jun 2, 2015 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 4, 2015 to Sep 3, 2026 (11.2 years).
ICVT vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11.2 years both funds cover.
ICVT vs IVV Performance
iShares Convertible Bond ETF (ICVT) is an ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year ICVT returned +21.57% while IVV returned +21.57%. Year to date, ICVT is up 14.00% versus a gain of 13.86% for IVV.
Over three years, ICVT compounded at +16.58% per year against +21.48% for IVV; over five years the annualized figures are +4.97% and +12.88% respectively. Across the full 11-year window we track, IVV has the edge at +13.02% annualized vs +10.94%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 14.6% for ICVT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.3% for ICVT and -33.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ICVT charges 0.20% per year while IVV charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, ICVT currently yields 1.39% against 1.10% for IVV.
Holdings Overlap
At least 0.2% of IVV's money is in holdings ICVT also owns.
Stated as a floor: for ICVT, our book for it covers 36.8% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 128 positions we hold weights for in ICVT and 505 in IVV, against full books of 377 and 508.
Top Shared Holdings
| Stock | Weight in ICVT | Weight in IVV | Difference |
|---|---|---|---|
| XTSLABlackrock Cash Funds: Treasury, Sl Agency Shares | 1.30% | 0.18% | 1.12% |
You are not choosing between two funds in isolation.
Whichever of ICVT and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ICVT or IVV?
ICVT has an expense ratio of 0.20% while IVV charges 0.03%. IVV is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, ICVT or IVV?
Over the past year ICVT returned +21.57% vs +21.57% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (11 years), ICVT annualized +10.94% vs +13.02% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ICVT or IVV?
IVV has been the more volatile fund at 15.2% annualized versus 14.6% for ICVT. Worst drawdown: ICVT -33.3% vs IVV -33.9%.
Should I hold both ICVT and IVV?
ICVT and IVV have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, ICVT or IVV?
ICVT yields 1.39% while IVV yields 1.10%, so ICVT currently pays the higher dividend yield.
Is IVV better than ICVT?
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.