FTSL vs. SEIX
FTSL (First Trust Senior Loan Fund) and SEIX (Virtus Seix Senior Loan ETF) are both exchange-traded funds - FTSL is a High Yield Bonds fund actively managed by First Trust, while SEIX is a Bank Loan fund tracking the Credit Suisse Leveraged Loan Index. FTSL is actively managed, while SEIX is passively managed. Over the past 5 years, FTSL returned 4.99%/yr vs 5.75%/yr for SEIX. At a 0.29 correlation, their price movements are largely independent. FTSL charges 0.86%/yr vs 0.57%/yr for SEIX.
Performance
FTSL vs. SEIX - Performance Comparison
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Returns By Period
In the year-to-date period, FTSL achieves a 0.65% return, which is significantly lower than SEIX's 2.38% return.
FTSL
- 1D
- -0.01%
- 1M
- 0.20%
- YTD
- 0.65%
- 6M
- 0.65%
- 1Y
- 4.20%
- 3Y*
- 7.14%
- 5Y*
- 4.99%
- 10Y*
- 4.45%
SEIX
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 2.38%
- 6M
- 2.53%
- 1Y
- 6.02%
- 3Y*
- 7.78%
- 5Y*
- 5.75%
- 10Y*
- —
FTSL vs. SEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 0.65% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 3.25% |
SEIX Virtus Seix Senior Loan ETF | 2.38% | 5.10% | 8.42% | 12.51% | -1.77% | 5.49% | 3.17% | 3.44% |
Correlation
The correlation between FTSL and SEIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2019 | 0.29 |
The correlation between FTSL and SEIX shifts across timeframes, from 0.29 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FTSL vs. SEIX — Risk / Return Rank
FTSL
SEIX
FTSL vs. SEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) and Virtus Seix Senior Loan ETF (SEIX). 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 | SEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.86 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 5.35 | -3.54 |
| Martin ratioReturn relative to average drawdown | 6.72 | 21.39 | -14.67 |
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Drawdowns
FTSL vs. SEIX - Drawdown Comparison
The maximum FTSL drawdown since its inception was -22.67%, which is greater than SEIX's maximum drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for FTSL and SEIX.
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Drawdown Indicators
| FTSL | SEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -17.51% | -5.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -1.13% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -3.01% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -6.96% | -6.69% | -0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | 0.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -0.87% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.28% | +0.35% |
Volatility
FTSL vs. SEIX - Volatility Comparison
First Trust Senior Loan Fund (FTSL) and Virtus Seix Senior Loan ETF (SEIX) have volatilities of 0.33% and 0.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTSL | SEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.33% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 1.29% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.12% | 1.60% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 2.92% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 4.32% | +0.87% |
FTSL vs. SEIX - Expense Ratio Comparison
FTSL has a 0.86% expense ratio, which is higher than SEIX's 0.57% expense ratio.
Dividends
FTSL vs. SEIX - Dividend Comparison
FTSL's dividend yield for the trailing twelve months is around 6.46%, less than SEIX's 7.24% 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% |
SEIX Virtus Seix Senior Loan ETF | 7.24% | 7.52% | 8.09% | 8.74% | 5.76% | 4.16% | 3.75% | 3.82% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTSL and SEIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEIX has higher volatility (0.33%) compared to FTSL (0.33%). In terms of maximum drawdown, FTSL dropped -22.67% vs SEIX's -17.51%.
On 5-year performance, SEIX leads with 5.75% vs 4.99% for FTSL. On fees, SEIX is cheaper at 0.57% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SEIX has performed better with a 5.75% return vs 4.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEIX is cheaper with a 0.57% expense ratio, compared with 0.86% for FTSL.
SEIX has the higher dividend yield at 7.24%, compared with 6.46% for FTSL.
FTSL is categorized as High Yield Bonds, while SEIX is Bank Loan. They also come from different issuers: First Trust and Virtus. Their fees differ too: 0.86% for FTSL and 0.57% for SEIX.
SEIX currently has the higher Sharpe Ratio (3.78 vs 1.99), 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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