HYXF vs. SRLN
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and SRLN (State Street Blackstone Senior Loan ETF) are both exchange-traded funds - HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while SRLN is a Bank Loan fund actively managed by State Street. HYXF is passively managed, while SRLN is actively managed. Over the past 10 years, HYXF returned 5.07%/yr vs 4.54%/yr for SRLN. At a 0.49 correlation, their price movements are largely independent. HYXF charges 0.35%/yr vs 0.70%/yr for SRLN.
Performance
HYXF vs. SRLN - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.17% return, which is significantly higher than SRLN's 0.48% return. Over the past 10 years, HYXF has outperformed SRLN with an annualized return of 5.07%, while SRLN has yielded a comparatively lower 4.54% annualized return.
HYXF
- 1D
- -0.02%
- 1M
- 0.64%
- YTD
- 1.17%
- 6M
- 1.41%
- 1Y
- 5.28%
- 3Y*
- 8.92%
- 5Y*
- 3.58%
- 10Y*
- 5.07%
SRLN
- 1D
- -0.15%
- 1M
- 0.11%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 5.02%
- 3Y*
- 7.38%
- 5Y*
- 4.48%
- 10Y*
- 4.54%
HYXF vs. SRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.17% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | 6.89% |
SRLN State Street Blackstone Senior Loan ETF | 0.48% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
Correlation
The correlation between HYXF and SRLN is 0.56, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.49 |
The correlation between HYXF and SRLN has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
HYXF vs. SRLN — Risk / Return Rank
HYXF
SRLN
HYXF vs. SRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and State Street Blackstone Senior Loan ETF (SRLN). 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.
| HYXF | SRLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.55 | +0.52 |
| Martin ratioReturn relative to average drawdown | 9.22 | 5.72 | +3.50 |
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Drawdowns
HYXF vs. SRLN - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum SRLN drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for HYXF and SRLN.
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Drawdown Indicators
| HYXF | SRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -22.29% | +3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -3.26% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -4.26% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -7.93% | -8.07% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | -22.29% | +3.54% |
Current DrawdownCurrent decline from peak | -0.25% | -0.32% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -1.10% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.88% | -0.31% |
Volatility
HYXF vs. SRLN - Volatility Comparison
iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) has a higher volatility of 1.14% compared to State Street Blackstone Senior Loan ETF (SRLN) at 0.62%. This indicates that HYXF's price experiences larger fluctuations and is considered to be riskier than SRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYXF | SRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.62% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 2.67% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 2.91% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 3.92% | +4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 6.06% | +2.25% |
HYXF vs. SRLN - Expense Ratio Comparison
HYXF has a 0.35% expense ratio, which is lower than SRLN's 0.70% expense ratio.
Dividends
HYXF vs. SRLN - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.08%, less than SRLN's 7.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.08% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% | 0.00% |
SRLN State Street Blackstone Senior Loan ETF | 7.51% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
Frequently Asked Questions
HYXF and SRLN have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYXF has higher volatility (1.14%) compared to SRLN (0.62%). In terms of maximum drawdown, HYXF dropped -18.75% vs SRLN's -22.29%.
On 10-year performance, HYXF leads with 5.07% vs 4.54% for SRLN. On fees, HYXF is cheaper at 0.35% per year. On volatility, SRLN has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYXF has performed better with a 5.07% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYXF is cheaper with a 0.35% expense ratio, compared with 0.70% for SRLN.
SRLN has the higher dividend yield at 7.51%, compared with 6.08% for HYXF.
HYXF is categorized as High Yield Bonds, while SRLN is Bank Loan. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for HYXF and 0.70% for SRLN.
SRLN currently has the higher Sharpe Ratio (1.73 vs 1.38), 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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