FTSL vs. SCYB

Last updated Jun 5, 2026

FTSL (First Trust Senior Loan Fund) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds. FTSL is actively managed, while SCYB is passively managed. Over the past year, FTSL returned 4.56% vs 7.03% for SCYB. A 0.56 correlation means they provide meaningful diversification when combined. FTSL charges 0.86%/yr vs 0.03%/yr for SCYB.

Performance

FTSL vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Senior Loan Fund (FTSL) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTSL achieves a 0.65% return, which is significantly lower than SCYB's 1.76% return.

FTSL

• 1D: 0.03%
• 1M: 0.20%
• YTD: 0.65%
• 6M: 0.98%
• 1Y: 4.56%
• 3Y*: 7.36%
• 5Y*: 5.02%
• 10Y*: 4.44%

SCYB

• 1D: 0.21%
• 1M: 0.46%
• YTD: 1.76%
• 6M: 1.99%
• 1Y: 7.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTSL vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTSL First Trust Senior Loan Fund	0.65%	5.98%	8.27%	5.38%
SCYB Schwab High Yield Bond ETF	1.76%	8.33%	8.15%	6.74%

Correlation

The correlation between FTSL and SCYB is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.56

The correlation between FTSL and SCYB has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

FTSL vs. SCYB - Sectors Allocation Comparison

Sectors	FTSL	SCYB
Basic Materials	100.0%	3.5%
Communication Services	-	8.9%
Consumer Cyclical	-	10.6%
Consumer Defensive	-	2.5%
Energy	-	5.8%
Financial Services	-	4.9%
Healthcare	-	5.8%
Industrials	-	8.7%
Real Estate	-	4.2%
Technology	-	4.5%
Utilities	-	2.0%

Return for Risk

FTSL vs. SCYB — Risk / Return Rank

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

FTSL

FTSL Risk / Return Rank: 63
FTSL Sharpe Ratio Rank: 67
FTSL Sortino Ratio Rank: 76
FTSL Omega Ratio Rank: 85
FTSL Calmar Ratio Rank: 40
FTSL Martin Ratio Rank: 45

SCYB

SCYB Risk / Return Rank: 62
SCYB Sharpe Ratio Rank: 57
SCYB Sortino Ratio Rank: 62
SCYB Omega Ratio Rank: 62
SCYB Calmar Ratio Rank: 59
SCYB Martin Ratio Rank: 71

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.

FTSL vs. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) and Schwab High Yield Bond ETF (SCYB). 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.

	FTSL	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.89	+0.28
Sortino ratio: Return per unit of downside risk	3.37	2.83	+0.54
Omega ratio: Gain probability vs. loss probability	1.51	1.37	+0.14
Calmar ratio: Return relative to maximum drawdown	1.97	2.89	-0.92
Martin ratio: Return relative to average drawdown	7.30	12.95	-5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTSL vs. SCYB - Sharpe Ratio Comparison

The current FTSL Sharpe Ratio is 2.17, which is comparable to the SCYB Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FTSL and SCYB, 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

	FTSL	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.89	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.70	-0.85

Drawdowns

FTSL vs. SCYB - Drawdown Comparison

The maximum FTSL drawdown since its inception was -22.67%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for FTSL and SCYB.

Drawdown Indicators

	FTSL	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-22.67%	-4.92%	-17.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.33%	-2.44%	+0.11%
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%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.76%	-0.52%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.54%	+0.09%

Volatility

FTSL vs. SCYB - Volatility Comparison

The current volatility for First Trust Senior Loan Fund (FTSL) is 0.36%, while Schwab High Yield Bond ETF (SCYB) has a volatility of 1.09%. This indicates that FTSL experiences smaller price fluctuations and is considered to be less risky than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTSL	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	1.09%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	1.95%	2.94%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	3.75%	-1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	5.13%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.18%	5.13%	+0.05%

FTSL vs. SCYB - Expense Ratio Comparison

FTSL has a 0.86% expense ratio, which is higher than SCYB's 0.03% expense ratio.

Dividends

FTSL vs. SCYB - Dividend Comparison

FTSL's dividend yield for the trailing twelve months is around 6.46%, less than SCYB's 6.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTSL First Trust Senior Loan Fund	6.46%	6.59%	7.56%	7.59%	4.77%	3.17%	3.48%	4.44%	4.29%	3.64%	3.70%	3.95%
SCYB Schwab High Yield Bond ETF	6.92%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTSL and SCYB in my portfolio?

FTSL and SCYB have a correlation of 0.50, 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 SCYB?

SCYB has higher volatility (1.09%) compared to FTSL (0.36%). In terms of maximum drawdown, FTSL dropped -22.67% vs SCYB's -4.92%.

Which ETF is better, FTSL or SCYB?

On 1-year performance, SCYB leads with 7.03% vs 4.56% for FTSL. On fees, SCYB is cheaper at 0.03% per year. On volatility, FTSL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTSL or SCYB?

Over the 1-year period, SCYB has performed better with a 7.03% return vs 4.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTSL or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.86% for FTSL.

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

SCYB has the higher dividend yield at 6.92%, compared with 6.46% for FTSL.

What is the main difference between FTSL and SCYB?

They also come from different issuers: First Trust and Charles Schwab. Their fees differ too: 0.86% for FTSL and 0.03% for SCYB.

Which has better risk-adjusted returns?

FTSL currently has the higher Sharpe Ratio (2.17 vs 1.89), 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.