LONZ vs. USLN

Last updated Jul 17, 2026

LONZ (PIMCO Senior Loan Active Exchange-Traded Fund) and USLN (iShares Broad USD Floating Rate Loan ETF) are both Bank Loan funds. LONZ is actively managed, while USLN is passively managed. At a 0.32 correlation, their price movements are largely independent. LONZ charges 0.62%/yr vs 0.43%/yr for USLN.

Performance

LONZ vs. USLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) and iShares Broad USD Floating Rate Loan ETF (USLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LONZ

• 1D: 0.00%
• 1M: 0.53%
• 6M: 1.84%
• YTD: 2.37%
• 1Y: 4.81%
• 3Y*: 7.46%
• 5Y*: —
• 10Y*: —

USLN

• 1D: 0.05%
• 1M: 0.60%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LONZ vs. USLN - Yearly Performance Comparison

	2026 (YTD)
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	3.55%
USLN iShares Broad USD Floating Rate Loan ETF	2.46%

Correlation

The correlation between LONZ and USLN is 0.32, 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 Mar 4, 2026	0.32

Return for Risk

LONZ vs. USLN — Risk / Return Rank

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

LONZ

LONZ Risk / Return Rank: 77
LONZ Sharpe Ratio Rank: 83
LONZ Sortino Ratio Rank: 82
LONZ Omega Ratio Rank: 92
LONZ Calmar Ratio Rank: 59
LONZ Martin Ratio Rank: 69

USLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

LONZ vs. USLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) and iShares Broad USD Floating Rate Loan ETF (USLN). 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.

	LONZ	USLN	Difference
Sharpe ratio: Return per unit of total volatility	2.12	—	—
Sortino ratio: Return per unit of downside risk	2.96	—	—
Omega ratio: Gain probability vs. loss probability	1.50	—	—
Calmar ratio: Return relative to maximum drawdown	2.38	—	—
Martin ratio: Return relative to average drawdown	9.82	—	—

Drawdowns

LONZ vs. USLN - Drawdown Comparison

The maximum LONZ drawdown since its inception was -4.19%, which is greater than USLN's maximum drawdown of -0.75%. Use the drawdown chart below to compare losses from any high point for LONZ and USLN.

Drawdown Indicators

	LONZ	USLN	Difference
Max Drawdown Largest peak-to-trough decline	-4.19%	-0.75%	-3.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.19%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.47%	-0.19%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	—	—

Volatility

Volatility by Period

	LONZ	USLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.28%	2.34%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.18%	2.34%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.18%	2.34%	+0.84%

LONZ vs. USLN - Expense Ratio Comparison

LONZ has a 0.62% expense ratio, which is higher than USLN's 0.43% expense ratio.

Dividends

LONZ vs. USLN - Dividend Comparison

LONZ's dividend yield for the trailing twelve months is around 8.33%, more than USLN's 2.13% yield.

Position	TTM	2025	2024	2023	2022
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	8.33%	6.60%	8.16%	8.29%	3.33%
USLN iShares Broad USD Floating Rate Loan ETF	2.13%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LONZ and USLN in my portfolio?

LONZ and USLN have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LONZ or USLN?

On fees, USLN is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LONZ or USLN?

USLN is cheaper with a 0.43% expense ratio, compared with 0.62% for LONZ.

Which ETF pays a higher dividend yield, LONZ or USLN?

LONZ has the higher dividend yield at 8.33%, compared with 2.13% for USLN.

What is the main difference between LONZ and USLN?

They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.62% for LONZ and 0.43% for USLN.