ICVT vs SPY

Comparison between ISHARES CONVERTIBLE BOND ETF (ICVT, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed ICVT, delivering a return of +13.3% compared to +7.0%

ICVT vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ICVT(ETF)	SPY(ETF)
Net Assets	$5.30B	$652B
Expense Ratio	0.20%	0.09%
Max Drawdown	38.15%	56.47%
Sharpe Ratio	2.22	2.07
5Y Beta	0.57	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	-14.14%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

ICVT

$5.30B

Winner

SPY

$652B

Expense Ratio

ICVT

0.20%

Winner

SPY

0.09%

Max Drawdown

Winner

ICVT

38.15%

SPY

56.47%

Sharpe Ratio

Winner

ICVT

2.22

SPY

2.07

5Y Beta

Winner

ICVT

0.57

SPY

1.00

P/E Ratio

ICVT

N/A

SPY

28.24

Forward P/E

ICVT

N/A

SPY

21.85

5Y Dividends CAGR

ICVT

-14.14%

Winner

SPY

5.43%

5Y EPS CAGR

ICVT

N/A

SPY

25.79%

Debt to Equity

ICVT

N/A

SPY

22.35%

P/S Ratio

ICVT

N/A

SPY

3.55

P/B Ratio

ICVT

N/A

SPY

5.29

ICVT vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	ICVT	SPY
1 month	+8.84%	+9.11%
3 months	+11.42%	+6.59%
6 months	+15.74%	+10.56%
1 year	+37.59%	+32.04%
5 years(CAGR)	+6.99%	+13.35%
10 years(CAGR)	+13.67%	+15.49%
Max(CAGR)	+11.61%	+8.50%

ICVT

+8.84%

Winner

SPY

+9.11%

Winner

ICVT

+11.42%

SPY

+6.59%

Winner

ICVT

+15.74%

SPY

+10.56%

Winner

ICVT

+37.59%

SPY

+32.04%

5Y(CAGR)

ICVT

+6.99%

Winner

SPY

+13.35%

10Y(CAGR)

ICVT

+13.67%

Winner

SPY

+15.49%

Max(CAGR)

Winner

ICVT

+11.61%

SPY

+8.50%

ICVT vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	ICVT	SPY
2026	+17.27%	+8.27%
2025	+18.03%	+18.00%
2024	+11.71%	+25.59%
2023	+15.59%	+26.72%
2022	-20.76%	-18.64%
2021	-0.63%	+30.52%
2020	+59.30%	+17.28%
2019	+22.39%	+31.09%
2018	-1.05%	-5.24%
2017	+15.43%	+20.78%
2016	+11.50%	+13.59%
2015	-6.03%	+1.31%
2014	N/A	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

ICVT vs SPY Drawdown Comparison

The maximum drawdown for ICVT was -33.15%, occurring on Jun 16, 2022. Recovery took 1145 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current ICVT drawdown is -1.29%.

Rank	ICVT	SPY
#1	-33.15% Feb 12, 2021 - Sep 5, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-32.18% Feb 19, 2020 - Jun 5, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-18.52% Jun 23, 2015 - Oct 10, 2016	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-13.86% Aug 29, 2018 - Feb 25, 2019	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-8.63% Sep 1, 2020 - Oct 9, 2020	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-7.55% Nov 3, 2025 - Jan 16, 2026	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-6.75% Jan 26, 2018 - Mar 8, 2018	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-6.55% Jul 24, 2019 - Nov 25, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.17% Jan 28, 2026 - Apr 8, 2026	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-5.84% Mar 12, 2018 - May 30, 2018	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-5.49% May 3, 2019 - Jul 1, 2019	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-4.87% Jun 8, 2020 - Jun 17, 2020	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.66% Oct 13, 2020 - Nov 5, 2020	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.43% Jun 20, 2018 - Aug 28, 2018	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-3.78% Jan 25, 2021 - Feb 2, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between ICVT and SPY is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (1999 - 2026)

ICVT vs SPY dividend yield comparison.

Year	ICVT	SPY
2026	0.42%	0.24%
2025	1.73%	1.07%
2024	2.19%	1.21%
2023	1.85%	1.40%
2022	1.93%	1.65%
2021	7.70%	1.20%
2020	3.98%	1.52%
2019	1.86%	1.75%
2018	4.82%	2.04%
2017	2.56%	1.80%
2016	3.06%	2.03%
2015	1.57%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%