PHB vs. BKLN
Compare and contrast key facts about Invesco Fundamental High Yield® Corporate Bond ETF (PHB) and Invesco Senior Loan ETF (BKLN).
PHB and BKLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PHB is a passively managed fund by Invesco that tracks the performance of the RAFI Bonds US High Yield 1-10 Index. It was launched on Nov 15, 2007. BKLN is a passively managed fund by Invesco that tracks the performance of the S&P/LSTA U.S. Leveraged Loan 100 Index. It was launched on Mar 3, 2011. Both PHB and BKLN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PHB or BKLN.
Performance
PHB vs. BKLN - Performance Comparison
Returns By Period
In the year-to-date period, PHB achieves a 5.26% return, which is significantly lower than BKLN's 7.03% return. Over the past 10 years, PHB has outperformed BKLN with an annualized return of 3.89%, while BKLN has yielded a comparatively lower 3.56% annualized return.
PHB
5.26%
-0.78%
3.63%
9.71%
3.44%
3.89%
BKLN
7.03%
0.45%
3.95%
9.23%
4.47%
3.56%
Key characteristics
| PHB | BKLN | |
|---|---|---|
| Sharpe Ratio | 2.31 | 3.96 |
| Sortino Ratio | 3.51 | 6.00 |
| Omega Ratio | 1.44 | 2.06 |
| Calmar Ratio | 3.43 | 5.61 |
| Martin Ratio | 15.34 | 46.86 |
| Ulcer Index | 0.65% | 0.20% |
| Daily Std Dev | 4.30% | 2.36% |
| Max Drawdown | -44.79% | -24.17% |
| Current Drawdown | -1.27% | -0.47% |
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PHB vs. BKLN - Expense Ratio Comparison
PHB has a 0.50% expense ratio, which is lower than BKLN's 0.65% expense ratio.
Correlation
The correlation between PHB and BKLN is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
PHB vs. BKLN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Fundamental High Yield® Corporate Bond ETF (PHB) 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.
Dividends
PHB vs. BKLN - Dividend Comparison
PHB's dividend yield for the trailing twelve months is around 5.59%, less than BKLN's 8.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHB Invesco Fundamental High Yield® Corporate Bond ETF | 5.59% | 4.68% | 3.53% | 3.38% | 3.89% | 4.03% | 4.45% | 4.14% | 4.58% | 4.70% | 4.48% | 4.62% |
BKLN Invesco Senior Loan ETF | 8.67% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.51% | 3.51% | 4.55% | 4.11% | 4.12% | 4.39% |
Drawdowns
PHB vs. BKLN - Drawdown Comparison
The maximum PHB drawdown since its inception was -44.79%, which is greater than BKLN's maximum drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for PHB and BKLN. For additional features, visit the drawdowns tool.
Volatility
PHB vs. BKLN - Volatility Comparison
Invesco Fundamental High Yield® Corporate Bond ETF (PHB) has a higher volatility of 1.26% compared to Invesco Senior Loan ETF (BKLN) at 0.66%. This indicates that PHB's price experiences larger fluctuations and is considered to be riskier than BKLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.