Symbols

ICVT

iShares Convertible Bond ETF·CBOE

--(--)

Key Stats

Assets Under Management

5.41BUSD

Fund Flows (1Y)

2.23BUSD

Dividend Yield

1.60%

Discount/Premium to NAV

0.56%

Shares Outstanding

52.10M

Expense Ratio

0.20%

About iShares Convertible Bond ETF

Issuer

BlackRock Fund Advisors

Brand

iShares

Home Page

https://www.ishares.com/us/products/272819/ishares-convertible-bond-etf

Inception Date

Jun 2, 2015

Structure

Open-Ended Fund

Index Tracked

Bloomberg U.S. Convertible Cash Pay Bond > $250MM Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

BlackRock Fund Advisors

Distributor

BlackRock Investments LLC

ICVT offers modest differences from its State Street rival, CWB. The fund can hold smaller issues ($250M vs. $500M minimum) and screens out certain kinds of convertibles (mandatory, preferred, and zero coupons). Investors with a nuanced view of the space might appreciate having a choice in exposure. By design, convertible bonds hold equity-like upside while tending to fare well when rates rise. However, they carry more credit risk and are much more volatile than a diversified, total-market bond portfolio.