FTSL vs. EVLN

Last updated Aug 2, 2026

FTSL (First Trust Senior Loan Fund) and EVLN (Eaton Vance Floating-Rate ETF) are both Bank Loan funds. Both are actively managed. Over the past year, FTSL returned 3.96% vs 3.80% for EVLN. Their 0.35 correlation means their historical movements had little consistent relationship. FTSL charges 0.70%/yr vs 0.60%/yr for EVLN.

Performance

FTSL vs. EVLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Senior Loan Fund (FTSL) and Eaton Vance Floating-Rate ETF (EVLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTSL achieves a 1.33% return, which is significantly lower than EVLN's 1.55% 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%

EVLN

• 1D: -0.05%
• 1M: 0.02%
• 6M: 1.83%
• YTD: 1.55%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EVLN Eaton Vance Floating-Rate ETF	$6.06M	$4.09M	$3.77M
FTSL First Trust Senior Loan Fund	$8.60M	$10.00M	$9.63M

FTSL vs. EVLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FTSL First Trust Senior Loan Fund	1.33%	5.98%	7.51%
EVLN Eaton Vance Floating-Rate ETF	1.55%	5.59%	7.35%

Correlation

The correlation between FTSL and EVLN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024	0.35

Return for Risk

FTSL vs. EVLN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTSL

FTSL Risk / Return Rank: 72
FTSL Sharpe Ratio Rank: 81
FTSL Sortino Ratio Rank: 87
FTSL Omega Ratio Rank: 89
FTSL Calmar Ratio Rank: 48
FTSL Martin Ratio Rank: 54

EVLN

EVLN Risk / Return Rank: 76
EVLN Sharpe Ratio Rank: 84
EVLN Sortino Ratio Rank: 90
EVLN Omega Ratio Rank: 88
EVLN Calmar Ratio Rank: 60
EVLN Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTSL vs. EVLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) and Eaton Vance Floating-Rate ETF (EVLN). 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	EVLN	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.98	-0.13
Sortino ratio: Return per unit of downside risk	2.89	3.20	-0.31
Omega ratio: Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	1.71	2.09	-0.39
Martin ratio: Return relative to average drawdown	6.32	6.80	-0.47

FTSL vs. EVLN - Sharpe Ratio Comparison

The current FTSL Sharpe Ratio is 1.85, which is comparable to the EVLN Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of FTSL and EVLN, 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

FTSL vs. EVLN - Drawdown Comparison

The maximum FTSL drawdown since its inception was -22.67%, which is greater than EVLN's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for FTSL and EVLN.

Drawdown Indicators

	FTSL	EVLN	Difference
Max Drawdown Largest peak-to-trough decline	-22.67%	-2.78%	-19.89%
Max Drawdown (1Y) Largest decline over 1 year	-2.33%	-1.77%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-2.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.67%	—	—
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.75%	-0.21%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.54%	+0.09%

Volatility

FTSL vs. EVLN - Volatility Comparison

First Trust Senior Loan Fund (FTSL) has a higher volatility of 0.47% compared to Eaton Vance Floating-Rate ETF (EVLN) at 0.39%. This indicates that FTSL's price experiences larger fluctuations and is considered to be riskier than EVLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTSL	EVLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.39%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	1.96%	1.66%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	1.87%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	2.38%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.18%	2.38%	+2.80%

FTSL vs. EVLN - Expense Ratio Comparison

FTSL has a 0.70% expense ratio, which is higher than EVLN's 0.60% expense ratio.

Dividends

FTSL vs. EVLN - Dividend Comparison

FTSL's dividend yield for the trailing twelve months is around 6.37%, less than EVLN's 6.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVLN Eaton Vance Floating-Rate ETF	6.80%	7.28%	6.41%	0.00%	0.00%	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

Can I hold both FTSL and EVLN in my portfolio?

FTSL and EVLN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTSL or EVLN?

FTSL has higher volatility (0.47%) compared to EVLN (0.39%). In terms of maximum drawdown, FTSL dropped -22.67% vs EVLN's -2.78%.

Which ETF is better, FTSL or EVLN?

On 1-year performance, FTSL leads with 3.96% vs 3.80% for EVLN. On fees, EVLN is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTSL or EVLN?

Over the 1-year period, FTSL has performed better with a 3.96% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTSL or EVLN?

EVLN is cheaper with a 0.60% expense ratio, compared with 0.70% for FTSL.

Which ETF pays a higher dividend yield, FTSL or EVLN?

EVLN has the higher dividend yield at 6.80%, compared with 6.37% for FTSL.

What is the main difference between FTSL and EVLN?

They also come from different issuers: First Trust and Eaton Vance. Their fees differ too: 0.70% for FTSL and 0.60% for EVLN.

Which has better risk-adjusted returns?

EVLN currently has the higher Sharpe Ratio (1.98 vs 1.85), 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.