BKLN vs. MTUM
BKLN (Invesco Senior Loan ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, BKLN returned 4.32%/yr vs 17.54%/yr for MTUM. At a 0.45 correlation, their price movements are largely independent. BKLN charges 0.65%/yr vs 0.15%/yr for MTUM.
Performance
BKLN vs. MTUM - Performance Comparison
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Returns By Period
In the year-to-date period, BKLN achieves a -0.04% return, which is significantly lower than MTUM's 33.55% return. Over the past 10 years, BKLN has underperformed MTUM with an annualized return of 4.32%, while MTUM has yielded a comparatively higher 17.54% annualized return.
BKLN
- 1D
- 0.15%
- 1M
- -0.24%
- YTD
- -0.04%
- 6M
- 0.36%
- 1Y
- 4.59%
- 3Y*
- 7.18%
- 5Y*
- 5.09%
- 10Y*
- 4.32%
MTUM
- 1D
- 2.96%
- 1M
- 11.98%
- YTD
- 33.55%
- 6M
- 34.98%
- 1Y
- 46.22%
- 3Y*
- 33.86%
- 5Y*
- 15.90%
- 10Y*
- 17.54%
BKLN vs. MTUM - 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% |
MTUM iShares MSCI USA Momentum Factor ETF | 33.55% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
Correlation
The correlation between BKLN and MTUM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.45 |
The correlation between BKLN and MTUM has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
BKLN vs. MTUM — Risk / Return Rank
BKLN
MTUM
BKLN vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) and iShares MSCI USA Momentum Factor ETF (MTUM). 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 | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 4.02 | -2.52 |
| Martin ratioReturn relative to average drawdown | 5.88 | 15.48 | -9.61 |
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Drawdowns
BKLN vs. MTUM - Drawdown Comparison
The maximum BKLN drawdown since its inception was -24.17%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for BKLN and MTUM.
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Drawdown Indicators
| BKLN | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.17% | -34.08% | +9.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -11.54% | +8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | -20.99% | +17.44% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | -32.28% | +24.97% |
Max Drawdown (10Y)Largest decline over 10 years | -24.17% | -34.08% | +9.91% |
Current DrawdownCurrent decline from peak | -0.48% | 0.00% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -6.20% | +5.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 2.99% | -2.21% |
Volatility
BKLN vs. MTUM - Volatility Comparison
The current volatility for Invesco Senior Loan ETF (BKLN) is 0.53%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.20%. This indicates that BKLN experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKLN | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 11.20% | -10.67% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 18.83% | -16.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 21.08% | -18.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 20.99% | -16.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 21.23% | -14.80% |
BKLN vs. MTUM - Expense Ratio Comparison
BKLN has a 0.65% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
BKLN vs. MTUM - Dividend Comparison
BKLN's dividend yield for the trailing twelve months is around 6.63%, more than MTUM's 0.70% 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% |
MTUM iShares MSCI USA Momentum Factor ETF | 0.70% | 0.91% | 0.75% | 1.35% | 1.80% | 0.55% | 0.83% | 1.48% | 1.27% | 1.02% | 1.43% | 1.12% |
Frequently Asked Questions
BKLN and MTUM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (11.20%) compared to BKLN (0.53%). In terms of maximum drawdown, BKLN dropped -24.17% vs MTUM's -34.08%.
On 10-year performance, MTUM leads with 17.54% vs 4.32% for BKLN. On fees, MTUM is cheaper at 0.15% per year. On volatility, BKLN has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MTUM has performed better with a 17.54% return vs 4.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MTUM 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 0.70% for MTUM.
BKLN is categorized as Bank Loan, while MTUM is Momentum. BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.65% for BKLN and 0.15% for MTUM.
MTUM currently has the higher Sharpe Ratio (2.21 vs 1.68), 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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