BKLN vs. LVLN

Last updated Jun 23, 2026

BKLN (Invesco Senior Loan ETF) and LVLN (SPDR S&P Leveraged Loan ETF) are both Bank Loan funds - BKLN tracks the Morningstar LSTA US Leveraged Loan 100 Index while LVLN tracks the S&P USD Select Leveraged Loan Index. Both are passively managed. At a 0.46 correlation, their price movements are largely independent. BKLN charges 0.65%/yr vs 0.40%/yr for LVLN.

Performance

BKLN vs. LVLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Senior Loan ETF (BKLN) and SPDR S&P Leveraged Loan ETF (LVLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKLN achieves a -0.03% return, which is significantly lower than LVLN's 1.02% return.

BKLN

• 1D: 0.01%
• 1M: -0.04%
• YTD: -0.03%
• 6M: 0.26%
• 1Y: 4.45%
• 3Y*: 7.23%
• 5Y*: 5.17%
• 10Y*: 4.33%

LVLN

• 1D: -0.10%
• 1M: 0.07%
• YTD: 1.02%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKLN vs. LVLN - Yearly Performance Comparison

	2026 (YTD)	2025
BKLN Invesco Senior Loan ETF	-0.03%	1.31%
LVLN SPDR S&P Leveraged Loan ETF	1.02%	1.14%

Correlation

The correlation between BKLN and LVLN is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.46

Return for Risk

BKLN vs. LVLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKLN

BKLN Risk / Return Rank: 46
BKLN Sharpe Ratio Rank: 48
BKLN Sortino Ratio Rank: 50
BKLN Omega Ratio Rank: 63
BKLN Calmar Ratio Rank: 30
BKLN Martin Ratio Rank: 37

LVLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKLN vs. LVLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) and SPDR S&P Leveraged Loan ETF (LVLN). 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.

	BKLN	LVLN	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.38	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	1.45	—	—
Martin ratio: Return relative to average drawdown	5.68	—	—

Drawdowns

BKLN vs. LVLN - Drawdown Comparison

The maximum BKLN drawdown since its inception was -24.17%, which is greater than LVLN's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for BKLN and LVLN.

Drawdown Indicators

	BKLN	LVLN	Difference
Max Drawdown Largest peak-to-trough decline	-24.17%	-2.34%	-21.83%
Max Drawdown (1Y) Largest decline over 1 year	-3.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-7.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.17%	—	—
Current Drawdown Current decline from peak	-0.47%	-0.14%	-0.33%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.53%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	BKLN	LVLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	2.71%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.48%	2.71%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.43%	2.71%	+3.72%

BKLN vs. LVLN - Expense Ratio Comparison

BKLN has a 0.65% expense ratio, which is higher than LVLN's 0.40% expense ratio.

Dividends

BKLN vs. LVLN - Dividend Comparison

BKLN's dividend yield for the trailing twelve months is around 7.16%, more than LVLN's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLN Invesco Senior Loan ETF	6.59%	6.95%	8.41%	8.59%	4.93%	3.11%	3.56%	4.86%	4.52%	3.50%	4.54%	4.12%
LVLN SPDR S&P Leveraged Loan ETF	3.71%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKLN and LVLN in my portfolio?

BKLN and LVLN have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKLN or LVLN?

On fees, LVLN is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKLN or LVLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.65% for BKLN.

Which ETF pays a higher dividend yield, BKLN or LVLN?

BKLN has the higher dividend yield at 7.16%, compared with 3.71% for LVLN.

What is the main difference between BKLN and LVLN?

BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index, while LVLN tracks S&P USD Select Leveraged Loan Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.65% for BKLN and 0.40% for LVLN.