FTSL vs. BRLN
FTSL (First Trust Senior Loan Fund) and BRLN (BlackRock Floating Rate Loan ETF) are both Bank Loan funds. Both are actively managed. Over the past 3 years, FTSL returned 6.74%/yr vs 6.38%/yr for BRLN. Their 0.21 correlation means their historical movements had little consistent relationship. FTSL charges 0.70%/yr vs 0.55%/yr for BRLN.
Performance
FTSL vs. BRLN - Performance Comparison
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Returns By Period
In the year-to-date period, FTSL achieves a 1.33% return, which is significantly higher than BRLN's 1.04% return.
FTSL
- 1D
- 0.11%
- 1M
- 0.51%
- 6M
- 1.82%
- YTD
- 1.33%
- 1Y
- 3.96%
- 3Y*
- 6.74%
- 5Y*
- 5.15%
- 10Y*
- 4.42%
- ALL TIME*
- 4.00%
BRLN
- 1D
- 0.15%
- 1M
- 0.20%
- 6M
- 1.53%
- YTD
- 1.04%
- 1Y
- 2.71%
- 3Y*
- 6.38%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $268.27K | $207.64K | $312.99K | |
| $8.60M | $10.00M | $9.63M |
FTSL vs. BRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 1.33% | 5.98% | 8.27% | 11.58% | 1.34% |
BRLN BlackRock Floating Rate Loan ETF | 1.04% | 5.38% | 7.49% | 13.42% | 1.66% |
Correlation
The correlation between FTSL and BRLN is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | 0.21 |
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Return for Risk
FTSL vs. BRLN — Risk / Return Rank
FTSL
BRLN
FTSL vs. BRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) 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.
| FTSL | BRLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.62 | +0.08 |
| Martin ratioReturn relative to average drawdown | 6.32 | 5.61 | +0.72 |
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Drawdowns
FTSL vs. BRLN - Drawdown Comparison
The maximum FTSL drawdown since its inception was -22.67%, which is greater than BRLN's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for FTSL and BRLN.
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Drawdown Indicators
| FTSL | BRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -3.85% | -18.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -2.00% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -3.85% | +1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -6.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.81% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -0.33% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.58% | +0.05% |
Volatility
FTSL vs. BRLN - Volatility Comparison
The current volatility for First Trust Senior Loan Fund (FTSL) is 0.47%, while BlackRock Floating Rate Loan ETF (BRLN) has a volatility of 1.27%. This indicates that FTSL experiences smaller price fluctuations and is considered to be less risky than BRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTSL | BRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 1.27% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 2.78% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.15% | 3.31% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 3.78% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 3.78% | +1.40% |
FTSL vs. BRLN - Expense Ratio Comparison
FTSL has a 0.70% expense ratio, which is higher than BRLN's 0.55% expense ratio.
Dividends
FTSL vs. BRLN - Dividend Comparison
FTSL's dividend yield for the trailing twelve months is around 6.37%, which matches BRLN's 6.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRLN BlackRock Floating Rate Loan ETF | 5.73% | 6.50% | 7.87% | 9.06% | 1.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FTSL First Trust Senior Loan Fund | 6.37% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
Frequently Asked Questions
FTSL and BRLN have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRLN has higher volatility (1.27%) compared to FTSL (0.47%). In terms of maximum drawdown, FTSL dropped -22.67% vs BRLN's -3.85%.
On 3-year performance, FTSL leads with 6.74% vs 6.38% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, FTSL has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FTSL has performed better with a 6.74% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRLN is cheaper with a 0.55% expense ratio, compared with 0.70% for FTSL.
FTSL has the higher dividend yield at 6.37%, compared with 5.73% for BRLN.
They also come from different issuers: First Trust and BlackRock. Their fees differ too: 0.70% for FTSL and 0.55% for BRLN.
FTSL currently has the higher Sharpe Ratio (1.85 vs 0.98), 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.
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