LVLN vs. BRLN

Last updated Jun 6, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and BRLN (BlackRock Floating Rate Loan ETF) are both Bank Loan funds. LVLN is passively managed, while BRLN is actively managed. At a 0.29 correlation, their price movements are largely independent. LVLN charges 0.40%/yr vs 0.55%/yr for BRLN.

Performance

LVLN vs. BRLN - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with LVLN having a 0.80% return and BRLN slightly lower at 0.79%.

LVLN

• 1D: -0.10%
• 1M: 0.35%
• YTD: 0.80%
• 6M: 1.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRLN

• 1D: -0.65%
• 1M: 0.16%
• YTD: 0.79%
• 6M: 1.42%
• 1Y: 4.48%
• 3Y*: 7.16%
• 5Y*: —
• 10Y*: —

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

LVLN vs. BRLN - Yearly Performance Comparison

	2026 (YTD)	2025
LVLN SPDR S&P Leveraged Loan ETF	0.80%	1.20%
BRLN BlackRock Floating Rate Loan ETF	0.79%	1.39%

Correlation

The correlation between LVLN and BRLN is 0.29, 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 Nov 19, 2025	0.29

Return for Risk

LVLN vs. BRLN — Risk / Return Rank

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

BRLN

BRLN Risk / Return Rank: 47
BRLN Sharpe Ratio Rank: 43
BRLN Sortino Ratio Rank: 46
BRLN Omega Ratio Rank: 45
BRLN Calmar Ratio Rank: 48
BRLN Martin Ratio Rank: 53

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.

LVLN vs. BRLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Leveraged Loan ETF (LVLN) and BlackRock Floating Rate Loan ETF (BRLN). 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.

Sharpe Ratios by Period

	LVLN	BRLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	2.13	-0.78

Drawdowns

LVLN vs. BRLN - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, smaller than the maximum BRLN drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for LVLN and BRLN.

Drawdown Indicators

	LVLN	BRLN	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-3.85%	+1.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.85%	—
Current Drawdown Current decline from peak	-0.36%	-0.76%	+0.40%
Average Drawdown Average peak-to-trough decline	-0.55%	-0.31%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.52%	—

Volatility

Volatility by Period

	LVLN	BRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	3.13%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	3.74%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.78%	3.74%	-0.96%

LVLN vs. BRLN - Expense Ratio Comparison

LVLN has a 0.40% expense ratio, which is lower than BRLN's 0.55% expense ratio.

Dividends

LVLN vs. BRLN - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 3.72%, less than BRLN's 6.39% yield.

Position	TTM	2025	2024	2023	2022
BRLN BlackRock Floating Rate Loan ETF	6.39%	6.50%	7.87%	9.06%	1.48%
LVLN SPDR S&P Leveraged Loan ETF	3.72%	0.49%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LVLN and BRLN in my portfolio?

LVLN and BRLN have a correlation of 0.29, 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 BRLN?

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 BRLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.55% for BRLN.

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

BRLN has the higher dividend yield at 6.39%, compared with 3.72% for LVLN.

What is the main difference between LVLN and BRLN?

They also come from different issuers: State Street and BlackRock. Their fees differ too: 0.40% for LVLN and 0.55% for BRLN.