BRLN vs. SNLN

Last updated Apr 1, 2026

Compare and contrast key facts about BlackRock Floating Rate Loan ETF (BRLN) and Highland iBoxx Senior Loan ETF (SNLN).

BRLN and SNLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BRLN is an actively managed fund by BlackRock. It was launched on Oct 4, 2022. SNLN is a passively managed fund by Highland Capital Management that tracks the performance of the Markit iBoxx USD Liquid Leveraged Loan Index. It was launched on Nov 8, 2012.

Performance

BRLN vs. SNLN - Performance Comparison

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

BRLN vs. SNLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BRLN BlackRock Floating Rate Loan ETF	-0.73%	5.38%	7.49%	13.42%	2.13%
SNLN Highland iBoxx Senior Loan ETF	0.00%	0.00%	0.00%	5.84%	1.02%

Returns By Period

BRLN

• 1D: -0.06%
• 1M: 0.57%
• YTD: -0.73%
• 6M: 0.50%
• 1Y: 4.36%
• 3Y*: 7.37%
• 5Y*: —
• 10Y*: —

SNLN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BRLN vs. SNLN - Expense Ratio Comparison

BRLN has a 0.55% expense ratio, which is lower than SNLN's 0.75% expense ratio.

SNLN

Highland iBoxx Senior Loan ETF

BRLN

BlackRock Floating Rate Loan ETF

Return for Risk

BRLN vs. SNLN — Risk / Return Rank

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

BRLN

BRLN Risk / Return Rank: 63
BRLN Sharpe Ratio Rank: 65
BRLN Sortino Ratio Rank: 65
BRLN Omega Ratio Rank: 61
BRLN Calmar Ratio Rank: 55
BRLN Martin Ratio Rank: 68

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. SNLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Loan ETF (BRLN) and Highland iBoxx Senior Loan ETF (SNLN). 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	SNLN	Difference
Sharpe ratio Return per unit of total volatility	1.11	—	—
Sortino ratio Return per unit of downside risk	1.63	—	—
Omega ratio Gain probability vs. loss probability	1.22	—	—
Calmar ratio Return relative to maximum drawdown	1.36	—	—
Martin ratio Return relative to average drawdown	6.78	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BRLN	SNLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.10	—	—

Correlation

The correlation between BRLN and SNLN is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BRLN vs. SNLN - Dividend Comparison

BRLN's dividend yield for the trailing twelve months is around 6.58%, while SNLN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRLN BlackRock Floating Rate Loan ETF	6.58%	6.50%	7.87%	9.06%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SNLN Highland iBoxx Senior Loan ETF	0.00%	0.00%	0.00%	5.50%	4.88%	2.83%	3.21%	4.72%	5.03%	4.75%	4.36%	4.36%

Drawdowns

Drawdown Indicators

	BRLN	SNLN	Difference
Max Drawdown Largest peak-to-trough decline	-3.85%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	—	—
Current Drawdown Current decline from peak	-1.04%	—	—
Average Drawdown Average peak-to-trough decline	-0.32%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	BRLN	SNLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	—	—