StarWind V2V Converter is a free-to-download tool that allows conversion and cloning of VMs from one format to another and is utilized when migration or hypervisor switch is required. Compared to typical converters built into hypervisors, StarWind V2V Converter performs bi-directional conversion between multiple VM formats. The software supports the most widely used formats: VMDK, VHD/VHDX (Windows Repair Mode aware), StarWind native IMG and QCOW. Release notes can be found here.
Conversion options are shown in the picture below: