ICVT vs IVV
iShares Convertible Bond ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. ICVT delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ICVT | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $7.2B | $865.2B | |
| Dividend Yield | 1.31% | 1.09% | |
| Holdings | 375 | 508 | |
| YTD Return | +15.38% | +13.43% | |
| 1Y Return | +26.10% | +22.61% | |
| 3Y Return (annualized) | +16.82% | +21.47% | |
| 5Y Return (annualized) | +5.89% | +13.26% | |
| Volatility (annualized) | 14.7% | 15.1% | |
| Max Drawdown | -33.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Convertible | Equity | |
| Inception | Jun 2, 2015 | May 15, 2000 |
ICVT vs IVV Performance
iShares Convertible Bond ETF (ICVT) is a ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year ICVT returned +26.10% while IVV returned +22.61%. Year to date, ICVT is up 15.38% versus a gain of 13.43% for IVV.
Over three years, ICVT compounded at +16.82% per year against +21.47% for IVV; over five years the annualized figures are +5.89% and +13.26% respectively. Across the full 11-year window we track, ICVT has the edge at +11.12% annualized vs +7.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.7% 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 -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 1.31% against 1.09% for IVV.
Holdings Overlap
ICVT and IVV share 0 holdings out of 612 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $17 per year of difference.
Which performed better, ICVT or IVV?
Over the past year ICVT returned +26.10% vs +22.61% for IVV, so ICVT leads on 1-year performance. Over the longest common window we track (11 years), ICVT annualized +11.12% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, ICVT or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 14.7% for ICVT. Worst drawdown: ICVT -33.3% vs IVV -56.5%.
Should I hold both ICVT and IVV?
ICVT and IVV have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ICVT and IVV?
ICVT and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 612 unique securities.
Which pays a higher dividend, ICVT or IVV?
ICVT yields 1.31% while IVV yields 1.09%, so ICVT currently pays the higher dividend yield.
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