ICLO vs. SRLN
Compare and contrast key facts about Invesco Aaa CLO Floating Rate Note ETF (ICLO) and SPDR Blackstone Senior Loan ETF (SRLN).
ICLO and SRLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022. SRLN is a passively managed fund by State Street that tracks the performance of the Markit iBoxx USD Liquid Leveraged Loan Index. It was launched on Apr 3, 2013.
Performance
ICLO vs. SRLN - Performance Comparison
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ICLO vs. SRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ICLO Invesco Aaa CLO Floating Rate Note ETF | 1.06% | 5.27% | 7.05% | 8.90% | 0.38% |
SRLN SPDR Blackstone Senior Loan ETF | -1.58% | 6.77% | 8.43% | 11.62% | 0.07% |
Returns By Period
In the year-to-date period, ICLO achieves a 1.06% return, which is significantly higher than SRLN's -1.58% return.
ICLO
- 1D
- 0.12%
- 1M
- 0.16%
- YTD
- 1.06%
- 6M
- 2.21%
- 1Y
- 5.57%
- 3Y*
- 6.89%
- 5Y*
- —
- 10Y*
- —
SRLN
- 1D
- 0.55%
- 1M
- 1.20%
- YTD
- -1.58%
- 6M
- 0.17%
- 1Y
- 5.24%
- 3Y*
- 7.42%
- 5Y*
- 4.46%
- 10Y*
- 4.48%
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ICLO vs. SRLN - Expense Ratio Comparison
ICLO has a 0.26% expense ratio, which is lower than SRLN's 0.70% expense ratio.
Return for Risk
ICLO vs. SRLN — Risk / Return Rank
ICLO
SRLN
ICLO vs. SRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Aaa CLO Floating Rate Note ETF (ICLO) and SPDR 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.
| ICLO | SRLN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 1.22 | +0.15 |
Sortino ratioReturn per unit of downside risk | 1.80 | 1.78 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.54 | 1.32 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.56 | +0.17 |
Martin ratioReturn relative to average drawdown | 21.75 | 5.67 | +16.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICLO | SRLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.22 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.79 | 0.67 | +2.11 |
Correlation
The correlation between ICLO and SRLN is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ICLO vs. SRLN - Dividend Comparison
ICLO's dividend yield for the trailing twelve months is around 5.35%, less than SRLN's 7.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICLO Invesco Aaa CLO Floating Rate Note ETF | 5.35% | 5.49% | 6.51% | 7.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SRLN SPDR Blackstone Senior Loan ETF | 7.73% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
Drawdowns
ICLO vs. SRLN - Drawdown Comparison
The maximum ICLO drawdown since its inception was -3.47%, smaller than the maximum SRLN drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for ICLO and SRLN.
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Drawdown Indicators
| ICLO | SRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.47% | -22.29% | +18.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -3.31% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.29% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.94% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -1.11% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 0.93% | -0.67% |
Volatility
ICLO vs. SRLN - Volatility Comparison
The current volatility for Invesco Aaa CLO Floating Rate Note ETF (ICLO) is 0.34%, while SPDR Blackstone Senior Loan ETF (SRLN) has a volatility of 1.77%. This indicates that ICLO experiences smaller price fluctuations and is considered to be less risky 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
| ICLO | SRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 1.77% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 0.80% | 2.55% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 4.32% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.48% | 3.89% | -1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 6.05% | -3.57% |