PCFI vs. LVLN

Last updated Jul 4, 2026

PCFI (Polen Floating Rate Income ETF) and LVLN (SPDR S&P Leveraged Loan ETF) are both Bank Loan funds. PCFI is actively managed, while LVLN is passively managed. At a 0.38 correlation, their price movements are largely independent. PCFI charges 0.49%/yr vs 0.40%/yr for LVLN.

Performance

PCFI vs. LVLN - Performance Comparison

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

Returns By Period

In the year-to-date period, PCFI achieves a 0.97% return, which is significantly lower than LVLN's 1.28% return.

PCFI

• 1D: 0.07%
• 1M: 1.43%
• 6M: 0.97%
• YTD: 0.97%
• 1Y: 0.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LVLN

• 1D: 0.05%
• 1M: 0.32%
• 6M: 1.61%
• YTD: 1.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCFI vs. LVLN - Yearly Performance Comparison

	2026 (YTD)	2025
PCFI Polen Floating Rate Income ETF	0.97%	0.35%
LVLN SPDR S&P Leveraged Loan ETF	1.28%	1.14%

Correlation

The correlation between PCFI and LVLN is 0.38, 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 18, 2025	0.38

Return for Risk

PCFI vs. LVLN — Risk / Return Rank

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

PCFI

PCFI Risk / Return Rank: 9
PCFI Sharpe Ratio Rank: 10
PCFI Sortino Ratio Rank: 9
PCFI Omega Ratio Rank: 9
PCFI Calmar Ratio Rank: 10
PCFI Martin Ratio Rank: 10

LVLN

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.

PCFI vs. LVLN - Risk-Adjusted Trends Comparison

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

	PCFI	LVLN	Difference
Sharpe ratio: Return per unit of total volatility	0.05	—	—
Sortino ratio: Return per unit of downside risk	0.10	—	—
Omega ratio: Gain probability vs. loss probability	1.01	—	—
Calmar ratio: Return relative to maximum drawdown	0.07	—	—
Martin ratio: Return relative to average drawdown	0.13	—	—

Drawdowns

PCFI vs. LVLN - Drawdown Comparison

The maximum PCFI drawdown since its inception was -4.01%, which is greater than LVLN's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for PCFI and LVLN.

Drawdown Indicators

	PCFI	LVLN	Difference
Max Drawdown Largest peak-to-trough decline	-4.01%	-2.34%	-1.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.01%	—	—
Current Drawdown Current decline from peak	-1.53%	0.00%	-1.53%
Average Drawdown Average peak-to-trough decline	-1.78%	-0.51%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	—	—

Volatility

Volatility by Period

	PCFI	LVLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.93%	2.70%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.17%	2.70%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.17%	2.70%	+4.47%

PCFI vs. LVLN - Expense Ratio Comparison

PCFI has a 0.49% expense ratio, which is higher than LVLN's 0.40% expense ratio.

Dividends

PCFI vs. LVLN - Dividend Comparison

PCFI's dividend yield for the trailing twelve months is around 9.59%, more than LVLN's 4.32% yield.

Position	TTM	2025
LVLN SPDR S&P Leveraged Loan ETF	4.32%	0.49%
PCFI Polen Floating Rate Income ETF	9.59%	7.83%

Frequently Asked Questions

Can I hold both PCFI and LVLN in my portfolio?

PCFI and LVLN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCFI or LVLN?

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, PCFI or LVLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.49% for PCFI.

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

PCFI has the higher dividend yield at 9.59%, compared with 4.32% for LVLN.

What is the main difference between PCFI and LVLN?

They also come from different issuers: Polen and State Street. Their fees differ too: 0.49% for PCFI and 0.40% for LVLN.