BRLN vs. BPAY

Last updated Jun 4, 2026

BRLN (BlackRock Floating Rate Loan ETF) and BPAY (BlackRock Future Financial and Technology ETF) are both exchange-traded funds - BRLN is a Bank Loan fund actively managed by BlackRock, while BPAY is a Financials Equities fund actively managed by BlackRock. Both are actively managed. Over the past 3 years, BRLN returned 7.36%/yr vs 8.49%/yr for BPAY. At a 0.16 correlation, their price movements are largely independent. BRLN charges 0.55%/yr vs 0.70%/yr for BPAY.

Performance

BRLN vs. BPAY - Performance Comparison

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

Returns By Period

In the year-to-date period, BRLN achieves a 1.35% return, which is significantly higher than BPAY's -12.44% return.

BRLN

• 1D: -0.21%
• 1M: 0.94%
• YTD: 1.35%
• 6M: 2.23%
• 1Y: 5.10%
• 3Y*: 7.36%
• 5Y*: —
• 10Y*: —

BPAY

• 1D: -4.23%
• 1M: -4.47%
• YTD: -12.44%
• 6M: -14.32%
• 1Y: -10.80%
• 3Y*: 8.49%
• 5Y*: —
• 10Y*: —

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

BRLN vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BRLN BlackRock Floating Rate Loan ETF	1.35%	5.38%	7.49%	13.42%	2.13%
BPAY BlackRock Future Financial and Technology ETF	-12.44%	8.54%	17.28%	13.19%	-6.87%

Correlation

The correlation between BRLN and BPAY is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022	0.16

Return for Risk

BRLN vs. BPAY — Risk / Return Rank

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

BRLN

BRLN Risk / Return Rank: 52
BRLN Sharpe Ratio Rank: 48
BRLN Sortino Ratio Rank: 53
BRLN Omega Ratio Rank: 51
BRLN Calmar Ratio Rank: 51
BRLN Martin Ratio Rank: 57

BPAY

BPAY Risk / Return Rank: 5
BPAY Sharpe Ratio Rank: 5
BPAY Sortino Ratio Rank: 5
BPAY Omega Ratio Rank: 5
BPAY Calmar Ratio Rank: 6
BPAY Martin Ratio Rank: 6

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.

BRLN vs. BPAY - Risk-Adjusted Trends Comparison

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

	BRLN	BPAY	Difference
Sharpe ratio: Return per unit of total volatility	1.68	-0.42	+2.09
Sortino ratio: Return per unit of downside risk	2.60	-0.42	+3.02
Omega ratio: Gain probability vs. loss probability	1.32	0.95	+0.37
Calmar ratio: Return relative to maximum drawdown	2.56	-0.32	+2.88
Martin ratio: Return relative to average drawdown	9.95	-0.64	+10.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRLN vs. BPAY - Sharpe Ratio Comparison

The current BRLN Sharpe Ratio is 1.68, which is higher than the BPAY Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of BRLN and BPAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BRLN	BPAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	-0.42	+2.09
Sharpe Ratio (All Time) Calculated using the full available price history	2.19	0.06	+2.13

Drawdowns

BRLN vs. BPAY - Drawdown Comparison

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

Drawdown Indicators

	BRLN	BPAY	Difference
Max Drawdown Largest peak-to-trough decline	-3.85%	-33.62%	+29.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	-33.62%	+31.62%
Max Drawdown (3Y) Largest decline over 3 years	-3.85%	-33.62%	+29.77%
Current Drawdown Current decline from peak	-0.21%	-26.03%	+25.82%
Average Drawdown Average peak-to-trough decline	-0.31%	-10.54%	+10.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	16.98%	-16.47%

Volatility

BRLN vs. BPAY - Volatility Comparison

The current volatility for BlackRock Floating Rate Loan ETF (BRLN) is 0.81%, while BlackRock Future Financial and Technology ETF (BPAY) has a volatility of 6.91%. This indicates that BRLN experiences smaller price fluctuations and is considered to be less risky than BPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRLN	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	6.91%	-6.10%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	18.71%	-16.47%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	26.01%	-22.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	24.35%	-20.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	24.35%	-20.62%

BRLN vs. BPAY - Expense Ratio Comparison

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

Dividends

BRLN vs. BPAY - Dividend Comparison

BRLN's dividend yield for the trailing twelve months is around 6.35%, less than BPAY's 7.41% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	7.41%	6.49%	0.48%	1.18%	0.18%
BRLN BlackRock Floating Rate Loan ETF	6.35%	6.50%	7.87%	9.06%	1.48%

Frequently Asked Questions

Can I hold both BRLN and BPAY in my portfolio?

BRLN and BPAY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRLN or BPAY?

BPAY has higher volatility (6.91%) compared to BRLN (0.81%). In terms of maximum drawdown, BRLN dropped -3.85% vs BPAY's -33.62%.

Which ETF is better, BRLN or BPAY?

On 3-year performance, BPAY leads with 8.49% vs 7.36% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, BRLN has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRLN or BPAY?

Over the 3-year period, BPAY has performed better with a 8.49% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRLN or BPAY?

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

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

BPAY has the higher dividend yield at 7.41%, compared with 6.35% for BRLN.

What is the main difference between BRLN and BPAY?

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

Which has better risk-adjusted returns?

BRLN currently has the higher Sharpe Ratio (1.68 vs -0.42), 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.