iShares Convertible Bond ETF
U.S. bond index ETF · tracks Bloomberg U.S. Convertible Cash Pay Bond – $250MM Index
As of its 2026 Q2 report, iShares Convertible Bond ETF held 360 positions with $6.08B in net assets. Its ten largest holdings made up 18.3% of the fund. The ICVT share class costs 0.2% a year. Over the 12 months to May 2026, ICVT returned 41.0%, with dividends reinvested. In 2026 Q3 it added 67 new positions and exited 50.
The iShares Convertible Bond ETF (the Fund ) seeks to track the investment results of an index composed of U.S. dollar-denominated convertible securities, specifically cash pay bonds, with outstanding issue sizes greater than $250 million.
The fund tracks the Bloomberg U.S. Convertible Cash Pay Bond $250MM Index using representative sampling, holding a portfolio of U.S. dollar-denominated convertible bonds issued by financials, industrials, and utilities companies with at least $250 million outstanding. Because the fund samples rather than holds all index constituents, its returns may diverge from the index. The fund will not exercise conversion features on the bonds even when economically advantageous, treating them purely as fixed income securities.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
WESTERN DIGITAL CORP 3.00% · due 2028-11-15 | 5.19% | $315.60M | — |
LUMENTUM HOLDINGS INC 1.50% · due 2029-12-15 | 2.16% | $131.18M | — |
ALIBABA GROUP HOLDING 0.50% · due 2031-06-01 | 2.07% | $125.85M | — |
LUMENTUM HOLDINGS INC 0.38% · due 2032-03-15 | 1.75% | $106.48M | — |
LUMENTUM HOLDINGS INC 0.50% · due 2028-06-15 | 1.67% | $101.49M | — |
BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | 1.28% | $77.74M | — |
BLOOM ENERGY CORP 0.00% · due 2030-11-15 | 1.23% | $74.63M | — |
LUMENTUM HOLDINGS INC 0.50% · due 2026-12-15 | 1.13% | $68.80M | — |
COREWEAVE INC 1.75% · due 2031-12-01 | 0.95% | $57.80M | — |
SEAGATE HDD CAYMAN 3.50% · due 2028-06-01 | 0.90% | $54.77M | — |
The 200 largest of 360 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.05% |
| Cash & short-term | 1.28% |
| Stocks | 0.13% |
By sector
- Information Technology
- 33.2%
- International
- 11.9%
- Health Care
- 11.2%
- Industrials
- 7.8%
- 10 other sectors
- 35.8%
- Information Technology
- 33.2%
- International
- 11.9%
- Health Care
- 11.2%
- Industrials
- 7.8%
- Utilities
- 7.0%
- Other
- 7.0%
- Financials
- 6.5%
- Consumer Discretionary
- 4.4%
- Real Estate
- 3.7%
- Communication Services
- 2.9%
- Energy
- 2.2%
- Cash
- 1.0%
- Consumer Staples
- 0.6%
- Materials
- 0.5%
How it has done
ICVT share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.98%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iShares Convertible Bond ETF is a U.S. bond index ETF that tracks the Bloomberg U.S. Convertible Cash Pay Bond – $250MM Index. 0% of ICVT’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.20%· ICVT 0.20%
- Portfolio turnover
- 30.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
67 new· the largest 8
50 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 78.4% |
| Zero-coupon or unclassified | 21.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.9% |
| 1-3y | 32.8% |
| 3-5y | 42.1% |
| 5-10y | 18.6% |
| 10y+ | 0.7% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 70% |
| Interest rates | 30% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +0.98 yr |
| Investment grade | +0.17 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.12 yr | 24% |
| 5 yr | 0.37 yr | 75% |
| 10 yr | 0.00 yr | 0% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.18 yr | 16% |
| 5 yr | 0.95 yr | 82% |
| 10 yr | 0.01 yr | 1% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.01 | $313 | $4.1k |
| 1 yr | +0.12 | +0.03 | +0.15 | $19.7k | $90.3k |
| 5 yr | +0.37 | +0.13 | +0.81 | $81.5k | $493.0k |
| 10 yr | +0.00 | +0.00 | +0.01 | $0 | $8.0k |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $52 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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