BKLN vs. SHY
BKLN (Invesco Senior Loan ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, BKLN returned 4.25%/yr vs 1.63%/yr for SHY. At a correlation of -0.04, they often move in opposite directions. BKLN charges 0.65%/yr vs 0.15%/yr for SHY.
Performance
BKLN vs. SHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BKLN achieves a -0.04% return, which is significantly lower than SHY's 0.34% return. Over the past 10 years, BKLN has outperformed SHY with an annualized return of 4.25%, while SHY has yielded a comparatively lower 1.63% 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%
SHY
- 1D
- 0.05%
- 1M
- -0.19%
- YTD
- 0.34%
- 6M
- 0.74%
- 1Y
- 3.33%
- 3Y*
- 4.04%
- 5Y*
- 1.70%
- 10Y*
- 1.63%
BKLN vs. SHY - 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% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.34% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between BKLN and SHY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011 | -0.04 |
The correlation between BKLN and SHY shifts across timeframes, from -0.04 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BKLN vs. SHY — Risk / Return Rank
BKLN
SHY
BKLN vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) and iShares 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.51 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 3.76 | -2.33 |
| Martin ratioReturn relative to average drawdown | 5.65 | 15.12 | -9.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BKLN | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 2.51 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | 0.86 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 1.04 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.28 | -0.64 |
Drawdowns
BKLN vs. SHY - Drawdown Comparison
The maximum BKLN drawdown since its inception was -24.17%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for BKLN and SHY.
Loading charts...
Drawdown Indicators
| BKLN | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.17% | -5.71% | -18.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -0.89% | -2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | -0.97% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | -5.71% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -24.17% | -5.71% | -18.46% |
Current DrawdownCurrent decline from peak | -0.48% | -0.39% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -0.52% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.22% | +0.56% |
Volatility
BKLN vs. SHY - Volatility Comparison
Invesco Senior Loan ETF (BKLN) has a higher volatility of 0.44% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.38%. This indicates that BKLN's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BKLN | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 0.38% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 0.95% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 1.33% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 1.99% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 1.57% | +4.86% |
BKLN vs. SHY - Expense Ratio Comparison
BKLN has a 0.65% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
BKLN vs. SHY - Dividend Comparison
BKLN's dividend yield for the trailing twelve months is around 6.63%, more than SHY's 3.69% 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% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
BKLN and SHY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKLN has higher volatility (0.44%) compared to SHY (0.38%). In terms of maximum drawdown, BKLN dropped -24.17% vs SHY's -5.71%.
On 10-year performance, BKLN leads with 4.25% vs 1.63% for SHY. On fees, SHY is cheaper at 0.15% per year. Their volatility is very similar. 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 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY 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 3.69% for SHY.
BKLN is categorized as Bank Loan, while SHY is Government Bonds. BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index, while SHY tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.65% for BKLN and 0.15% for SHY.
SHY currently has the higher Sharpe Ratio (2.51 vs 1.61), 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.
Find the right allocation for BKLN and SHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer