LVLN vs. BKLN

Last updated Aug 1, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and BKLN (Invesco Senior Loan ETF) are both Bank Loan funds - LVLN tracks the S&P USD Select Leveraged Loan Index while BKLN tracks the Morningstar LSTA US Leveraged Loan 100 Index. Both are passively managed. Their 0.40 correlation means their historical movements had little consistent relationship. LVLN charges 0.40%/yr vs 0.65%/yr for BKLN.

Performance

LVLN vs. BKLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Leveraged Loan ETF (LVLN) and Invesco Senior Loan ETF (BKLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVLN achieves a 1.57% return, which is significantly higher than BKLN's 0.65% return.

LVLN

• 1D: -0.02%
• 1M: 0.28%
• 6M: 1.93%
• YTD: 1.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BKLN

• 1D: 0.05%
• 1M: 0.73%
• 6M: 1.39%
• YTD: 0.65%
• 1Y: 4.08%
• 3Y*: 6.92%
• 5Y*: 5.35%
• 10Y*: 4.23%
• ALL TIME*: 3.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKLN Invesco Senior Loan ETF	$118.65M	$121.61M	$174.22M
LVLN SPDR S&P Leveraged Loan ETF	$48.60K	$55.46K	$264.53K

LVLN vs. BKLN - Yearly Performance Comparison

	2026 (YTD)	2025
LVLN SPDR S&P Leveraged Loan ETF	1.57%	1.14%
BKLN Invesco Senior Loan ETF	0.65%	1.31%

Correlation

The correlation between LVLN and BKLN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.40

Return for Risk

LVLN vs. BKLN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LVLN

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

BKLN

BKLN Risk / Return Rank: 56
BKLN Sharpe Ratio Rank: 60
BKLN Sortino Ratio Rank: 63
BKLN Omega Ratio Rank: 77
BKLN Calmar Ratio Rank: 37
BKLN Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LVLN vs. BKLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Leveraged Loan ETF (LVLN) and Invesco Senior Loan ETF (BKLN). 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.

	LVLN	BKLN	Difference
Sharpe ratio: Return per unit of total volatility	—	1.41	—
Sortino ratio: Return per unit of downside risk	—	2.09	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	1.27	—
Martin ratio: Return relative to average drawdown	—	4.91	—

Drawdowns

LVLN vs. BKLN - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, smaller than the maximum BKLN drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for LVLN and BKLN.

Drawdown Indicators

	LVLN	BKLN	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-24.17%	+21.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.07%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.17%	—
Current Drawdown Current decline from peak	-0.26%	-0.05%	-0.21%
Average Drawdown Average peak-to-trough decline	-0.46%	-1.08%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.79%	—

Volatility

Volatility by Period

	LVLN	BKLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	2.77%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	4.47%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	6.41%	-3.81%

LVLN vs. BKLN - Expense Ratio Comparison

LVLN has a 0.40% expense ratio, which is lower than BKLN's 0.65% expense ratio.

Dividends

LVLN vs. BKLN - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 4.31%, less than BKLN's 6.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLN Invesco Senior Loan ETF	6.53%	6.95%	8.41%	8.59%	4.93%	3.11%	3.56%	4.86%	4.52%	3.50%	4.54%	4.12%
LVLN SPDR S&P Leveraged Loan ETF	4.31%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LVLN and BKLN in my portfolio?

LVLN and BKLN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LVLN or BKLN?

On fees, LVLN is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LVLN or BKLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.65% for BKLN.

Which ETF pays a higher dividend yield, LVLN or BKLN?

BKLN has the higher dividend yield at 6.53%, compared with 4.31% for LVLN.

What is the main difference between LVLN and BKLN?

LVLN tracks S&P USD Select Leveraged Loan Index, while BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.40% for LVLN and 0.65% for BKLN.