HBDC vs. FLRN
HBDC (Hilton BDC Corporate Bond ETF) and FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) are both Corporate Bonds funds. HBDC is actively managed, while FLRN is passively managed. At a 0.17 correlation, their price movements are largely independent. HBDC charges 0.39%/yr vs 0.15%/yr for FLRN.
Performance
HBDC vs. FLRN - Performance Comparison
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Returns By Period
In the year-to-date period, HBDC achieves a 0.33% return, which is significantly lower than FLRN's 1.87% return.
HBDC
- 1D
- 0.00%
- 1M
- 0.53%
- YTD
- 0.33%
- 6M
- 0.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLRN
- 1D
- 0.03%
- 1M
- 0.45%
- YTD
- 1.87%
- 6M
- 2.19%
- 1Y
- 4.88%
- 3Y*
- 5.67%
- 5Y*
- 4.19%
- 10Y*
- 3.03%
HBDC vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBDC Hilton BDC Corporate Bond ETF | 0.33% | 2.66% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.87% | 2.86% |
Correlation
The correlation between HBDC and FLRN is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | 0.17 |
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Return for Risk
HBDC vs. FLRN — Risk / Return Rank
HBDC
FLRN
HBDC vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hilton BDC Corporate Bond ETF (HBDC) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| HBDC | FLRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 7.18 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.50 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.50 | +0.54 |
Drawdowns
HBDC vs. FLRN - Drawdown Comparison
The maximum HBDC drawdown since its inception was -2.96%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for HBDC and FLRN.
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Drawdown Indicators
| HBDC | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.96% | -14.64% | +11.68% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.23% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -1.83% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.04% | — |
Volatility
HBDC vs. FLRN - Volatility Comparison
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Volatility by Period
| HBDC | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 0.68% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 1.69% | +1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.99% | 4.20% | -1.21% |
HBDC vs. FLRN - Expense Ratio Comparison
HBDC has a 0.39% expense ratio, which is higher than FLRN's 0.15% expense ratio.
Dividends
HBDC vs. FLRN - Dividend Comparison
HBDC's dividend yield for the trailing twelve months is around 4.51%, which matches FLRN's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
HBDC Hilton BDC Corporate Bond ETF | 4.51% | 2.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HBDC and FLRN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLRN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.39% for HBDC.
HBDC and FLRN have nearly identical dividend yields, around 4.51%.
They also come from different issuers: Hilton and State Street. Their fees differ too: 0.39% for HBDC and 0.15% for FLRN.
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