BKLN vs. LQD
BKLN (Invesco Senior Loan ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 10 years, BKLN returned 4.25%/yr vs 2.41%/yr for LQD. At a 0.13 correlation, their price movements are largely independent. BKLN charges 0.65%/yr vs 0.15%/yr for LQD.
Performance
BKLN vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, BKLN achieves a -0.04% return, which is significantly higher than LQD's -0.06% return. Over the past 10 years, BKLN has outperformed LQD with an annualized return of 4.25%, while LQD has yielded a comparatively lower 2.41% annualized return.
BKLN
- 1D
- 0.00%
- 1M
- -0.43%
- YTD
- -0.04%
- 6M
- 0.55%
- 1Y
- 4.39%
- 3Y*
- 7.44%
- 5Y*
- 5.09%
- 10Y*
- 4.25%
LQD
- 1D
- -0.10%
- 1M
- -0.67%
- YTD
- -0.06%
- 6M
- -0.06%
- 1Y
- 5.73%
- 3Y*
- 4.95%
- 5Y*
- -0.28%
- 10Y*
- 2.41%
BKLN vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | -0.04% | 6.88% | 8.21% | 12.53% | -2.51% | 2.32% | 1.32% | 10.03% | -1.32% | 2.13% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.06% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between BKLN and LQD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011 | 0.13 |
The correlation between BKLN and LQD shifts across timeframes, from 0.13 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BKLN vs. LQD — Risk / Return Rank
BKLN
LQD
BKLN vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
| BKLN | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.19 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.72 | -0.29 |
| Martin ratioReturn relative to average drawdown | 5.65 | 4.88 | +0.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BKLN | LQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.08 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | -0.03 | +1.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.28 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.54 | +0.11 |
Drawdowns
BKLN vs. LQD - Drawdown Comparison
The maximum BKLN drawdown since its inception was -24.17%, roughly equal to the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for BKLN and LQD.
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Drawdown Indicators
| BKLN | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.17% | -24.95% | +0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -3.34% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | -8.43% | +4.88% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | -24.95% | +17.64% |
Max Drawdown (10Y)Largest decline over 10 years | -24.17% | -24.95% | +0.78% |
Current DrawdownCurrent decline from peak | -0.48% | -4.21% | +3.73% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -3.99% | +2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.18% | -0.40% |
Volatility
BKLN vs. LQD - Volatility Comparison
The current volatility for Invesco Senior Loan ETF (BKLN) is 0.44%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.62%. This indicates that BKLN experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKLN | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 1.62% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 3.94% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 5.32% | -2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 8.65% | -4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 8.68% | -2.25% |
BKLN vs. LQD - Expense Ratio Comparison
BKLN has a 0.65% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
BKLN vs. LQD - Dividend Comparison
BKLN's dividend yield for the trailing twelve months is around 6.63%, more than LQD's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | 6.63% | 6.95% | 8.41% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.52% | 3.50% | 4.54% | 4.12% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.59% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
Frequently Asked Questions
BKLN and LQD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQD has higher volatility (1.62%) compared to BKLN (0.44%). In terms of maximum drawdown, BKLN dropped -24.17% vs LQD's -24.95%.
On 10-year performance, BKLN leads with 4.25% vs 2.41% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, BKLN has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BKLN has performed better with a 4.25% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQD is cheaper with a 0.15% expense ratio, compared with 0.65% for BKLN.
BKLN has the higher dividend yield at 6.63%, compared with 4.59% for LQD.
BKLN is categorized as Bank Loan, while LQD is Corporate Bonds. BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index, while LQD tracks iBoxx $ Liquid Investment Grade Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.65% for BKLN and 0.15% for LQD.
BKLN currently has the higher Sharpe Ratio (1.61 vs 1.08), 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.
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