LVLN vs. SRLN

Last updated Aug 1, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and SRLN (State Street Blackstone Senior Loan ETF) are both Bank Loan funds from State Street. LVLN is passively managed, while SRLN is actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. LVLN charges 0.40%/yr vs 0.70%/yr for SRLN.

Performance

LVLN vs. SRLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Leveraged Loan ETF (LVLN) and State Street Blackstone Senior Loan ETF (SRLN). 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 SRLN's 1.38% return.

LVLN

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

SRLN

• 1D: 0.02%
• 1M: 0.62%
• 6M: 2.15%
• YTD: 1.38%
• 1Y: 4.61%
• 3Y*: 7.15%
• 5Y*: 4.79%
• 10Y*: 4.51%
• ALL TIME*: 3.80%

*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)
LVLN SPDR S&P Leveraged Loan ETF	$48.60K	$55.46K	$264.53K
SRLN State Street Blackstone Senior Loan ETF	$41.26M	$48.21M	$73.40M

LVLN vs. SRLN - Yearly Performance Comparison

	2026 (YTD)	2025
LVLN SPDR S&P Leveraged Loan ETF	1.57%	1.14%
SRLN State Street Blackstone Senior Loan ETF	1.38%	1.41%

Correlation

The correlation between LVLN and SRLN is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.53

Return for Risk

LVLN vs. SRLN — 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.

SRLN

SRLN Risk / Return Rank: 59
SRLN Sharpe Ratio Rank: 65
SRLN Sortino Ratio Rank: 66
SRLN Omega Ratio Rank: 78
SRLN Calmar Ratio Rank: 38
SRLN Martin Ratio Rank: 45

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. SRLN - Risk-Adjusted Trends Comparison

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

	LVLN	SRLN	Difference
Sharpe ratio: Return per unit of total volatility	—	1.49	—
Sortino ratio: Return per unit of downside risk	—	2.17	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	1.34	—
Martin ratio: Return relative to average drawdown	—	4.95	—

Drawdowns

LVLN vs. SRLN - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, smaller than the maximum SRLN drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for LVLN and SRLN.

Drawdown Indicators

	LVLN	SRLN	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-22.29%	+19.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.26%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.29%	—
Current Drawdown Current decline from peak	-0.26%	-0.02%	-0.24%
Average Drawdown Average peak-to-trough decline	-0.46%	-1.09%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	LVLN	SRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	2.94%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	3.92%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	6.06%	-3.46%

LVLN vs. SRLN - Expense Ratio Comparison

LVLN has a 0.40% expense ratio, which is lower than SRLN's 0.70% expense ratio.

Dividends

LVLN vs. SRLN - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 4.31%, less than SRLN's 7.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SRLN State Street Blackstone Senior Loan ETF	6.72%	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

Can I hold both LVLN and SRLN in my portfolio?

LVLN and SRLN have a correlation of 0.53, 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 SRLN?

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 SRLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.70% for SRLN.

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

SRLN has the higher dividend yield at 6.72%, compared with 4.31% for LVLN.

What is the main difference between LVLN and SRLN?

Their fees differ too: 0.40% for LVLN and 0.70% for SRLN.