BDJ vs. SRLN

Last updated Aug 4, 2026

BDJ (BlackRock Enhanced Equity Dividend Trust) and SRLN (State Street Blackstone Senior Loan ETF) are both funds - BDJ is a Derivative Income fund actively managed by BlackRock, while SRLN is a Bank Loan fund actively managed by State Street. Both are actively managed. Over the past 10 years, BDJ returned 10.53%/yr vs 4.52%/yr for SRLN. Their 0.37 correlation means their historical movements had little consistent relationship. BDJ charges 0.89%/yr vs 0.70%/yr for SRLN.

Performance

BDJ vs. SRLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Enhanced Equity Dividend Trust (BDJ) and State Street Blackstone Senior Loan ETF (SRLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDJ achieves a 8.31% return, which is significantly higher than SRLN's 1.61% return. Over the past 10 years, BDJ has outperformed SRLN with an annualized return of 10.53%, while SRLN has yielded a comparatively lower 4.52% annualized return.

BDJ

• 1D: 0.20%
• 1M: 2.20%
• 6M: 5.16%
• YTD: 8.31%
• 1Y: 23.61%
• 3Y*: 16.03%
• 5Y*: 9.08%
• 10Y*: 10.53%
• ALL TIME*: 6.89%

SRLN

• 1D: 0.22%
• 1M: 0.85%
• 6M: 1.93%
• YTD: 1.61%
• 1Y: 4.84%
• 3Y*: 7.25%
• 5Y*: 4.84%
• 10Y*: 4.52%
• ALL TIME*: 3.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDJ BlackRock Enhanced Equity Dividend Trust	$4.26M	$4.34M	$4.85M
SRLN State Street Blackstone Senior Loan ETF	$44.81M	$49.21M	$72.42M

BDJ vs. SRLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BDJ BlackRock Enhanced Equity Dividend Trust	8.31%	26.12%	16.87%	-6.67%	0.83%	26.56%	-7.58%	37.43%	-10.42%	20.78%
SRLN State Street Blackstone Senior Loan ETF	1.61%	6.77%	8.43%	11.62%	-5.30%	4.49%	3.13%	10.03%	-0.66%	3.39%

Correlation

The correlation between BDJ and SRLN is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (5Y) Shows whether the relationship held over a longer period.	0.52
Correlation (10Y) Provides a long-term view across more market conditions.	0.43
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013	0.37

The correlation between BDJ and SRLN shifts across timeframes, from 0.37 (all time) to 0.52 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BDJ vs. SRLN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BDJ

BDJ Risk / Return Rank: 66
BDJ Sharpe Ratio Rank: 81
BDJ Sortino Ratio Rank: 78
BDJ Omega Ratio Rank: 75
BDJ Calmar Ratio Rank: 47
BDJ Martin Ratio Rank: 47

SRLN

SRLN Risk / Return Rank: 63
SRLN Sharpe Ratio Rank: 71
SRLN Sortino Ratio Rank: 74
SRLN Omega Ratio Rank: 84
SRLN Calmar Ratio Rank: 41
SRLN Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BDJ vs. SRLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Equity Dividend Trust (BDJ) and State Street Blackstone Senior Loan ETF (SRLN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BDJ	SRLN	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.66	+0.29
Sortino ratio: Return per unit of downside risk	2.77	2.43	+0.34
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	1.93	1.49	+0.44
Martin ratio: Return relative to average drawdown	7.08	5.50	+1.58

BDJ vs. SRLN - Sharpe Ratio Comparison

The current BDJ Sharpe Ratio is 1.95, which is comparable to the SRLN Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of BDJ and SRLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BDJ vs. SRLN - Drawdown Comparison

The maximum BDJ drawdown since its inception was -59.46%, which is greater than SRLN's maximum drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for BDJ and SRLN.

Drawdown Indicators

	BDJ	SRLN	Difference
Max Drawdown Largest peak-to-trough decline	-59.46%	-22.29%	-37.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-3.26%	-9.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.37%	-4.26%	-10.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.39%	-7.93%	-13.46%
Max Drawdown (10Y) Largest decline over 10 years	-48.14%	-22.29%	-25.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.89%	-1.09%	-7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	0.88%	+2.46%

Volatility

BDJ vs. SRLN - Volatility Comparison

BlackRock Enhanced Equity Dividend Trust (BDJ) has a higher volatility of 3.07% compared to State Street Blackstone Senior Loan ETF (SRLN) at 0.51%. This indicates that BDJ's price experiences larger fluctuations and is considered to be riskier than SRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDJ	SRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	0.51%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	2.69%	+6.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	2.94%	+9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	3.92%	+12.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	6.06%	+12.34%

BDJ vs. SRLN - Expense Ratio Comparison

BDJ has a 0.89% expense ratio, which is higher than SRLN's 0.70% expense ratio.

Dividends

BDJ vs. SRLN - Dividend Comparison

BDJ's dividend yield for the trailing twelve months is around 8.73%, more than SRLN's 7.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDJ BlackRock Enhanced Equity Dividend Trust	8.73%	9.03%	8.21%	9.49%	12.18%	5.95%	7.08%	6.66%	7.21%	6.07%	6.88%	7.36%
SRLN State Street Blackstone Senior Loan ETF	7.34%	7.67%	8.58%	8.44%	5.72%	4.45%	4.91%	5.39%	4.98%	4.01%	3.94%	4.43%

Frequently Asked Questions

Can I hold both BDJ and SRLN in my portfolio?

BDJ and SRLN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDJ or SRLN?

BDJ has higher volatility (3.07%) compared to SRLN (0.51%). In terms of maximum drawdown, BDJ dropped -59.46% vs SRLN's -22.29%.

Which has better risk-adjusted returns?

BDJ currently has the higher Sharpe Ratio (1.95 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.