LVLN vs. USLN

Last updated Jun 6, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and USLN (iShares Broad USD Floating Rate Loan ETF) are both Bank Loan funds - LVLN tracks the S&P USD Select Leveraged Loan Index while USLN tracks the Morningstar LSTA US Leveraged Loan Broad Select Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. LVLN charges 0.40%/yr vs 0.43%/yr for USLN.

Performance

LVLN vs. USLN - Performance Comparison

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

Returns By Period

LVLN

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

USLN

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

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

LVLN vs. USLN - Yearly Performance Comparison

	2026 (YTD)
LVLN SPDR S&P Leveraged Loan ETF	1.99%
USLN iShares Broad USD Floating Rate Loan ETF	1.79%

Correlation

The correlation between LVLN and USLN is 0.30, 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 5, 2026	0.30

Return for Risk

LVLN vs. USLN - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	LVLN	USLN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	2.80	-1.44

Drawdowns

LVLN vs. USLN - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, which is greater than USLN's maximum drawdown of -0.75%. Use the drawdown chart below to compare losses from any high point for LVLN and USLN.

Drawdown Indicators

	LVLN	USLN	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-0.75%	-1.59%
Current Drawdown Current decline from peak	-0.36%	-0.14%	-0.22%
Average Drawdown Average peak-to-trough decline	-0.55%	-0.21%	-0.34%

Volatility

Volatility by Period

	LVLN	USLN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	2.57%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	2.57%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.78%	2.57%	+0.21%

LVLN vs. USLN - Expense Ratio Comparison

LVLN has a 0.40% expense ratio, which is lower than USLN's 0.43% expense ratio.

Dividends

LVLN vs. USLN - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 3.72%, more than USLN's 1.54% yield.

Position	TTM	2025
LVLN SPDR S&P Leveraged Loan ETF	3.72%	0.49%
USLN iShares Broad USD Floating Rate Loan ETF	1.54%	0.00%

Frequently Asked Questions

Can I hold both LVLN and USLN in my portfolio?

LVLN and USLN have a correlation of 0.30, 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 USLN?

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 USLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.43% for USLN.

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

LVLN has the higher dividend yield at 3.72%, compared with 1.54% for USLN.

What is the main difference between LVLN and USLN?

LVLN tracks S&P USD Select Leveraged Loan Index, while USLN tracks Morningstar LSTA US Leveraged Loan Broad Select Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for LVLN and 0.43% for USLN.