BRLN vs. SNLN

Last updated Jun 4, 2026

BRLN (BlackRock Floating Rate Loan ETF) and SNLN (Highland iBoxx Senior Loan ETF) are both exchange-traded funds - BRLN is a Bank Loan fund actively managed by BlackRock, while SNLN is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid Leveraged Loan Index. BRLN is actively managed, while SNLN is passively managed. At a 0.07 correlation, their price movements are largely independent. BRLN charges 0.55%/yr vs 0.75%/yr for SNLN.

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.

Returns By Period

BRLN

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

SNLN

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

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

BRLN vs. SNLN - 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%
SNLN Highland iBoxx Senior Loan ETF	0.00%	0.00%	0.00%	5.84%	1.02%

Correlation

The correlation between BRLN and SNLN is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022	0.07

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: 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

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	1.68	—	—
Sortino ratio Return per unit of downside risk	2.60	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	2.56	—	—
Martin ratio Return relative to average drawdown	9.95	—	—
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	1.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.19	—	—

Drawdowns

Drawdown Indicators

	BRLN	SNLN	Difference
Max Drawdown Largest peak-to-trough decline	-3.85%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.85%	—	—
Current Drawdown Current decline from peak	-0.21%	—	—
Average Drawdown Average peak-to-trough decline	-0.31%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	—	—

Volatility

Volatility by Period

	BRLN	SNLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	—	—

BRLN vs. SNLN - Expense Ratio Comparison

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

Dividends

BRLN vs. SNLN - Dividend Comparison

BRLN's dividend yield for the trailing twelve months is around 6.35%, while SNLN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRLN BlackRock Floating Rate Loan ETF	6.35%	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%

Frequently Asked Questions

Can I hold both BRLN and SNLN in my portfolio?

BRLN and SNLN 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 ETF is better, BRLN or SNLN?

On fees, BRLN is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BRLN or SNLN?

BRLN is cheaper with a 0.55% expense ratio, compared with 0.75% for SNLN.

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

BRLN has the higher dividend yield at 6.35%, compared with 0.00% for SNLN.

What is the main difference between BRLN and SNLN?

BRLN is categorized as Bank Loan, while SNLN is High Yield Bonds. They also come from different issuers: BlackRock and Highland Capital Management. Their fees differ too: 0.55% for BRLN and 0.75% for SNLN.