BPAY vs. BRLN

Last updated Jun 24, 2026

BPAY (BlackRock Future Financial and Technology ETF) and BRLN (BlackRock Floating Rate Loan ETF) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while BRLN is a Bank Loan fund actively managed by BlackRock. Both are actively managed. Over the past 3 years, BPAY returned 9.14%/yr vs 6.90%/yr for BRLN. At a 0.17 correlation, their price movements are largely independent. BPAY charges 0.70%/yr vs 0.55%/yr for BRLN.

Performance

BPAY vs. BRLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and BlackRock Floating Rate Loan ETF (BRLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPAY achieves a -10.19% return, which is significantly lower than BRLN's 1.25% return.

BPAY

• 1D: -1.19%
• 1M: 0.93%
• YTD: -10.19%
• 6M: -12.22%
• 1Y: -17.49%
• 3Y*: 9.14%
• 5Y*: —
• 10Y*: —

BRLN

• 1D: -0.31%
• 1M: 0.60%
• YTD: 1.25%
• 6M: 1.66%
• 1Y: 4.80%
• 3Y*: 6.90%
• 5Y*: —
• 10Y*: —

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

BPAY vs. BRLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	-10.19%	8.54%	17.28%	13.19%	-7.82%
BRLN BlackRock Floating Rate Loan ETF	1.25%	5.38%	7.49%	13.42%	1.66%

Correlation

The correlation between BPAY and BRLN is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.17

Return for Risk

BPAY vs. BRLN — Risk / Return Rank

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

BPAY

BPAY Risk / Return Rank: 4
BPAY Sharpe Ratio Rank: 4
BPAY Sortino Ratio Rank: 4
BPAY Omega Ratio Rank: 4
BPAY Calmar Ratio Rank: 4
BPAY Martin Ratio Rank: 4

BRLN

BRLN Risk / Return Rank: 50
BRLN Sharpe Ratio Rank: 46
BRLN Sortino Ratio Rank: 49
BRLN Omega Ratio Rank: 48
BRLN Calmar Ratio Rank: 52
BRLN Martin Ratio Rank: 56

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.

BPAY vs. BRLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and BlackRock Floating Rate Loan ETF (BRLN). 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.

	BPAY	BRLN	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	1.52	-2.19
Sortino ratio: Return per unit of downside risk	-0.81	2.31	-3.11
Omega ratio: Gain probability vs. loss probability	0.91	1.29	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.52	2.41	-2.93
Martin ratio: Return relative to average drawdown	-0.98	9.21	-10.19

BPAY vs. BRLN - Sharpe Ratio Comparison

The current BPAY Sharpe Ratio is -0.68, which is lower than the BRLN Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of BPAY and BRLN, 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

BPAY vs. BRLN - Drawdown Comparison

The maximum BPAY drawdown since its inception was -33.62%, which is greater than BRLN's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for BPAY and BRLN.

Drawdown Indicators

	BPAY	BRLN	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	-3.85%	-29.77%
Max Drawdown (1Y) Largest decline over 1 year	-33.62%	-2.00%	-31.62%
Max Drawdown (3Y) Largest decline over 3 years	-33.62%	-3.85%	-29.77%
Current Drawdown Current decline from peak	-24.12%	-0.59%	-23.53%
Average Drawdown Average peak-to-trough decline	-10.72%	-0.32%	-10.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.90%	0.52%	+17.38%

Volatility

BPAY vs. BRLN - Volatility Comparison

BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 9.68% compared to BlackRock Floating Rate Loan ETF (BRLN) at 1.25%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than BRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPAY	BRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	1.25%	+8.43%
Volatility (6M) Calculated over the trailing 6-month period	19.74%	2.41%	+17.33%
Volatility (1Y) Calculated over the trailing 1-year period	25.97%	3.18%	+22.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	3.75%	+20.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	3.75%	+20.73%

BPAY vs. BRLN - Expense Ratio Comparison

BPAY has a 0.70% expense ratio, which is higher than BRLN's 0.55% expense ratio.

Dividends

BPAY vs. BRLN - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 7.55%, more than BRLN's 6.36% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	7.55%	6.49%	0.48%	1.18%	0.18%
BRLN BlackRock Floating Rate Loan ETF	6.36%	6.50%	7.87%	9.06%	1.48%

Frequently Asked Questions

Can I hold both BPAY and BRLN in my portfolio?

BPAY and BRLN have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPAY or BRLN?

BPAY has higher volatility (9.68%) compared to BRLN (1.25%). In terms of maximum drawdown, BPAY dropped -33.62% vs BRLN's -3.85%.

Which ETF is better, BPAY or BRLN?

On 3-year performance, BPAY leads with 9.14% vs 6.90% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, BRLN has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BPAY or BRLN?

Over the 3-year period, BPAY has performed better with a 9.14% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BPAY or BRLN?

BRLN is cheaper with a 0.55% expense ratio, compared with 0.70% for BPAY.

Which ETF pays a higher dividend yield, BPAY or BRLN?

BPAY has the higher dividend yield at 7.55%, compared with 6.36% for BRLN.

What is the main difference between BPAY and BRLN?

BPAY is categorized as Financials Equities, while BRLN is Bank Loan. Their fees differ too: 0.70% for BPAY and 0.55% for BRLN.

Which has better risk-adjusted returns?

BRLN currently has the higher Sharpe Ratio (1.52 vs -0.68), 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.