BKLN vs. SLNZ

Last updated Aug 4, 2026

BKLN (Invesco Senior Loan ETF) and SLNZ (TCW Senior Loan ETF) are both Bank Loan funds. BKLN is passively managed, while SLNZ is actively managed. Over the past year, BKLN returned 4.29% vs 4.82% for SLNZ. Their 0.09 correlation means their historical movements had little consistent relationship. Both charge a 0.65% expense ratio.

Performance

BKLN vs. SLNZ - Performance Comparison

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

Returns By Period

In the year-to-date period, BKLN achieves a 0.85% return, which is significantly lower than SLNZ's 2.65% return.

BKLN

• 1D: 0.20%
• 1M: 0.93%
• 6M: 1.44%
• YTD: 0.85%
• 1Y: 4.29%
• 3Y*: 6.97%
• 5Y*: 5.41%
• 10Y*: 4.21%
• ALL TIME*: 3.74%

SLNZ

• 1D: 0.15%
• 1M: 0.68%
• 6M: 2.53%
• YTD: 2.65%
• 1Y: 4.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.19%

*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)
BKLN Invesco Senior Loan ETF	$124.78M	$121.39M	$171.07M
SLNZ TCW Senior Loan ETF	$171.84K	$98.00K	$256.92K

BKLN vs. SLNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BKLN Invesco Senior Loan ETF	0.85%	6.88%	0.72%
SLNZ TCW Senior Loan ETF	2.65%	5.21%	0.94%

Correlation

The correlation between BKLN and SLNZ is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.09

Return for Risk

BKLN vs. SLNZ — Risk / Return Rank

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

BKLN

BKLN Risk / Return Rank: 61
BKLN Sharpe Ratio Rank: 66
BKLN Sortino Ratio Rank: 70
BKLN Omega Ratio Rank: 82
BKLN Calmar Ratio Rank: 39
BKLN Martin Ratio Rank: 47

SLNZ

SLNZ Risk / Return Rank: 44
SLNZ Sharpe Ratio Rank: 41
SLNZ Sortino Ratio Rank: 37
SLNZ Omega Ratio Rank: 45
SLNZ Calmar Ratio Rank: 49
SLNZ 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.

BKLN vs. SLNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) and TCW Senior Loan ETF (SLNZ). 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	SLNZ	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.11	+0.44
Sortino ratio: Return per unit of downside risk	2.31	1.48	+0.82
Omega ratio: Gain probability vs. loss probability	1.36	1.22	+0.13
Calmar ratio: Return relative to maximum drawdown	1.40	1.88	-0.48
Martin ratio: Return relative to average drawdown	5.42	5.89	-0.48

BKLN vs. SLNZ - Sharpe Ratio Comparison

The current BKLN Sharpe Ratio is 1.55, which is higher than the SLNZ Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of BKLN and SLNZ, 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

BKLN vs. SLNZ - Drawdown Comparison

The maximum BKLN drawdown since its inception was -24.17%, which is greater than SLNZ's maximum drawdown of -2.57%. Use the drawdown chart below to compare losses from any high point for BKLN and SLNZ.

Drawdown Indicators

	BKLN	SLNZ	Difference
Max Drawdown Largest peak-to-trough decline	-24.17%	-2.57%	-21.60%
Max Drawdown (1Y) Largest decline over 1 year	-3.07%	-2.57%	-0.50%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.42%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.82%	-0.03%

Volatility

BKLN vs. SLNZ - Volatility Comparison

Invesco Senior Loan ETF (BKLN) and TCW Senior Loan ETF (SLNZ) have volatilities of 0.37% and 0.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKLN	SLNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	0.37%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	3.35%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	4.36%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.47%	4.13%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.42%	4.13%	+2.29%

BKLN vs. SLNZ - Expense Ratio Comparison

Both BKLN and SLNZ have an expense ratio of 0.65%.

Dividends

BKLN vs. SLNZ - Dividend Comparison

BKLN's dividend yield for the trailing twelve months is around 6.51%, less than SLNZ's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLN Invesco Senior Loan ETF	6.51%	6.95%	8.41%	8.59%	4.93%	3.11%	3.56%	4.86%	4.52%	3.50%	4.54%	4.12%
SLNZ TCW Senior Loan ETF	7.46%	7.39%	1.39%	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 SLNZ in my portfolio?

BKLN and SLNZ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKLN or SLNZ?

SLNZ has higher volatility (0.37%) compared to BKLN (0.37%). In terms of maximum drawdown, BKLN dropped -24.17% vs SLNZ's -2.57%.

Which ETF is better, BKLN or SLNZ?

On 1-year performance, SLNZ leads with 4.82% vs 4.29% for BKLN. Both ETFs have the same 0.65% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKLN or SLNZ?

Over the 1-year period, SLNZ has performed better with a 4.82% return vs 4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKLN or SLNZ?

BKLN and SLNZ have the same expense ratio: 0.65% per year.

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

SLNZ has the higher dividend yield at 7.46%, compared with 6.51% for BKLN.

What is the main difference between BKLN and SLNZ?

They also come from different issuers: Invesco and TCW.

Which has better risk-adjusted returns?

BKLN currently has the higher Sharpe Ratio (1.55 vs 1.11), 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.