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AVK · Advent Convertible and Income Fund

Know the company

Company overview

Advent Convertible and Income Fund blends convertible securities with other income investments. Convertibles can collect interest while also moving with the issuer's shares, so both credit and equity results matter to the cash story.

Business
Convertible and multi-asset income funds
Listing
AVK · XNYS
Reporting period
2026-04-30
Dividend schedule
Monthly

How the business works

Interest and dividends enter net investment income after fund costs. Convertible price changes and realized investment gains or losses are separate and can influence NAV and distributions.

Advent Convertible and Income Fund: financial report supporting reported earnings

Dividend & earnings snapshot

Reported earnings

Each measure shown separately, per share

Net investment income$0.23

Nov 1, 2025 to Apr 30, 2026

Distribution yield11.66%Sourced distributions divided by dated market price
Reported annual income yield2.93%Reported net investment income $0.3800 per share for 2024-11-01 to 2025-10-31, divided by approved 2025-10-31 market price $12.9900. Excludes capital gains; historical, not a current yield or forecast.
Annual earnings$0.38Public Researched estimate per share
Annual dividend$1.41Current regular payment annualized per share
Distribution supportSee period evidenceCash distributions, NAV and reported returns are shown separately; no earnings-coverage ratio is assigned.
Verified dividend dates and payment components

Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.

Verified earnings history and sources

The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.

Reporting periodEarnings measurePer shareSource
Nov 1, 2025 to Apr 30, 2026Net investment income$0.23Issuer source 1
Announced Jul 1, 2026

Reported NAV total return by period

Full-year fund-reported NAV total return. The shorter period remains in the table above and is not joined to this trend.

Market price and NAV per share

Reviewed USD market closes or SEC-reported prices matched to NAV dates. A different price date or split adjustment is shown in the label.

Business and earnings charts

Financial snapshot: 2026-04-30. Research reviewed 2026-09-21. Source dates are retained with each measure; historical results are not a forecast.

The assets it owns

$594.494 million net assetsPortfolio at April 30, 2026

Gross investments of $939.916 million exceed net assets because of financing and other net liabilities. This is not an unleveraged portfolio.

  • Convertible bonds44.682425%
  • Corporate bonds33.809863%
  • Convertible preferred stocks7.180148%
  • Common stocks5.85874%
  • Money-market funds3.336191%
  • Exchange-traded funds2.855604%
  • Senior floating-rate interests1.325288%
  • Asset-backed securities0.951741%

Eight nonoverlapping categories as a percentage of gross investments, not net assets. Exact values reconcile to $939,916,389.

AVK issuer financing data September18,2026

Reported earnings and distributions

2025-11-01 through 2026-04-30 · $ per share

Net investment income$0.2300
Realized and unrealized investment gains$0.5500
Total distributions$0.7000

For the six months ended April 30, 2026, AVK reported $0.23 of net investment income per common share and $0.70 of total distributions. Income was one source of that payment, not a complete measure of the convertible portfolio's result. Earlier chart points cover full fiscal years and should not be treated as six-month peers.

Advent Convertible and Income Fund: financial report supporting reported earnings

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting periodEnding NAVNAV changeDistributions / shareReported NAV total returnSource
Nov 1, 2025 to Apr 30, 2026$13.47+0.60%$0.70+6.24%AVK financial highlights in the SEC shareholder report for 2026-04-30. Distributions include all reported cash components for this exact fiscal period. Partial-period figures are not annualized.
Nov 1, 2024 to Oct 31, 2025$13.39+10.57%$1.41+23.69%AVK financial highlights in the SEC shareholder report for 2026-04-30. Distributions include all reported cash components for this exact fiscal period. Partial-period figures are not annualized.
Nov 1, 2023 to Oct 31, 2024$12.11+12.13%$1.41+25.66%AVK financial highlights in the SEC shareholder report for 2026-04-30. Distributions include all reported cash components for this exact fiscal period. Partial-period figures are not annualized.
Nov 1, 2022 to Oct 31, 2023$10.80-12.90%$1.41-2.42%AVK financial highlights in the SEC shareholder report for 2026-04-30. Distributions include all reported cash components for this exact fiscal period. Partial-period figures are not annualized.
Nov 1, 2021 to Oct 31, 2022$12.40-38.43%$2.79-27.04%AVK financial highlights in the SEC shareholder report for 2026-04-30. Distributions include all reported cash components for this exact fiscal period. Partial-period figures are not annualized.
Nov 1, 2020 to Oct 31, 2021$20.14+25.40%$1.41+34.59%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.
Nov 1, 2019 to Oct 31, 2020$16.06-1.71%$1.41+7.66%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.
Nov 1, 2018 to Oct 31, 2019$16.34+0.86%$1.41+9.94%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.
Nov 1, 2017 to Oct 31, 2018$16.20-8.11%$1.40-0.34%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.
Nov 1, 2016 to Oct 31, 2017$17.63+8.43%$1.24+16.55%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.
Nov 1, 2015 to Oct 31, 2016$16.26-4.97%$1.13+1.94%Exact AVK financial highlights. Reported actual per-share periods and total returns retain issuer corporate-action treatment; distributions and investment gains are distinct.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Distribution and NAV evidence

Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio.

Reporting period and filingNet investment income/shareCash distributions/shareOpening NAVClosing NAVNAV changeReported NAV total return
2015-11-01 to 2016-10-31 $0.75 $1.13 $17.11 $16.26 -4.97% 1.94%
2016-11-01 to 2017-10-31 $0.69 $1.24 $16.26 $17.63 8.43% 16.55%
2017-11-01 to 2018-10-31 $0.51 $1.40 $17.63 $16.20 -8.11% -0.34%
2018-11-01 to 2019-10-31 $0.47 $1.41 $16.20 $16.34 0.86% 9.94%
2019-11-01 to 2020-10-31 $0.33 $1.41 $16.34 $16.06 -1.71% 7.66%
2020-11-01 to 2021-10-31 $0.26 $1.41 $16.06 $20.14 25.40% 34.59%
2021-11-01 to 2022-10-31 $0.25 $2.79 $20.14 $12.40 -38.43% -27.04%
2022-11-01 to 2023-10-31 $0.38 $1.41 $12.40 $10.80 -12.90% -2.42%
2023-11-01 to 2024-10-31 $0.38 $1.41 $10.80 $12.11 12.13% 25.66%
2024-11-01 to 2025-10-31 $0.38 $1.41 $12.11 $13.39 10.57% 23.69%
2025-11-01 to 2026-04-30 $0.23 $0.70 $13.39 $13.47 0.60% 6.24%

Risk monitor

RiskCurrent conditionDirectionWhy it matters
Portfolio riskLosses or weaker cash generation in convertible and multi-asset income investments can reduce the resources available for future distributions.MonitorA change can affect future shareholder cash payments or the capital supporting them.
Leverage and financingThe current data service reports effective leverage of 37.05%. Financing magnifies gains and losses, and borrowing costs reduce income available to common shareholders.MonitorA change can affect future shareholder cash payments or the capital supporting them.

The assets behind the earnings

How AVK makes money

Financial snapshot: 2026-04-30. Research reviewed 2026-09-21. Source dates are retained with each measure; historical results are not a forecast.

The income-producing business

Convertible securities combine income with equity-linked returns, alongside other debt and income investments. Interest and dividends after expenses, investment gains and capital changes are distinct sources of distribution support.

For November 2025 through April 2026, net investment income was $0.23 per share and distributions were $0.70, an income-only comparison of 32.86%. Realized and unrealized investment gains contributed another $0.55 per share. Investment income alone cannot establish distribution sustainability for the convertible strategy; gains and capital changes must be considered separately.

Advent Convertible and Income Fund: financial report supporting reported earnings

Financing can amplify income and losses

The issuer reports $350 million of leverage outstanding and 37.33% leverage at September 18, 2026.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

AVK issuer financing data September18,2026

What the reported earnings support

Advent Convertible and Income Fund reported $0.2300 per share for 2025-11-01 through 2026-04-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

Advent Convertible and Income Fund: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Advent Convertible and Income Fund: financial report supporting reported earnings

What would change the earnings picture?

Read the next comparable income and distributions with convertible holdings, issuer credit, realized results and NAV.

Net asset value (NAV)

NAV per share$13.1700Sep 29, 2026
Market price$11.4500Sep 29, 2026
PREMIUM / DISCOUNT TO NAV13.06% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Current evidence and recent developments

  • Regular distribution screen: 11.50% on 2026-09-11.
  • Reported net investment income per common share: $0.23 for 2025-11-01 through 2026-04-30; not annualized.

What to watch next

  • Read the next comparable income and distributions with convertible holdings, issuer credit, realized results and NAV.

Fly High context

Read the next comparable income and distributions with convertible holdings, issuer credit, realized results and NAV.

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U.S. federal · Tax year 2025

Dividend tax treatment

Final issuer2025 tax information classifies85.17% as ordinary dividends and14.83% as return of capital, with no long-term capital gains.

Ordinary, nonqualified
78.65%
Qualified dividends
6.52%
Capital-gain distributions
0%
Return of capital
14.83%

Tax year: 2025.

Tax details and source
Total ordinary dividends (includes qualified)
85.17%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
Not stated

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

Public Research updated September 30, 2026 5:11 pm

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