SLNZ vs. LVLN
SLNZ (TCW Senior Loan ETF) and LVLN (SPDR S&P Leveraged Loan ETF) are both Bank Loan funds. SLNZ is actively managed, while LVLN is passively managed. At a 0.14 correlation, their price movements are largely independent. SLNZ charges 0.65%/yr vs 0.40%/yr for LVLN.
Performance
SLNZ vs. LVLN - Performance Comparison
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Returns By Period
In the year-to-date period, SLNZ achieves a 1.80% return, which is significantly higher than LVLN's 1.00% return.
SLNZ
- 1D
- -0.10%
- 1M
- 0.47%
- YTD
- 1.80%
- 6M
- 1.92%
- 1Y
- 4.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LVLN
- 1D
- -0.02%
- 1M
- 0.05%
- YTD
- 1.00%
- 6M
- 1.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLNZ vs. LVLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SLNZ TCW Senior Loan ETF | 1.80% | 0.50% |
LVLN SPDR S&P Leveraged Loan ETF | 1.00% | 1.14% |
Correlation
The correlation between SLNZ and LVLN is 0.14, 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 | 0.14 |
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Return for Risk
SLNZ vs. LVLN — Risk / Return Rank
SLNZ
LVLN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SLNZ vs. LVLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Senior Loan ETF (SLNZ) 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.
| SLNZ | LVLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.22 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | — | — |
| Martin ratioReturn relative to average drawdown | 5.97 | — | — |
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Drawdowns
SLNZ vs. LVLN - Drawdown Comparison
The maximum SLNZ drawdown since its inception was -2.57%, which is greater than LVLN's maximum drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for SLNZ and LVLN.
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Drawdown Indicators
| SLNZ | LVLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.57% | -2.34% | -0.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.16% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -0.53% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | — | — |
Volatility
SLNZ vs. LVLN - Volatility Comparison
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Volatility by Period
| SLNZ | LVLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 2.70% | +1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.25% | 2.70% | +1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 2.70% | +1.55% |
SLNZ vs. LVLN - Expense Ratio Comparison
SLNZ has a 0.65% expense ratio, which is higher than LVLN's 0.40% expense ratio.
Dividends
SLNZ vs. LVLN - Dividend Comparison
SLNZ's dividend yield for the trailing twelve months is around 7.53%, more than LVLN's 3.71% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
LVLN SPDR S&P Leveraged Loan ETF | 3.71% | 0.49% | 0.00% |
SLNZ TCW Senior Loan ETF | 7.53% | 7.39% | 1.39% |
Frequently Asked Questions
SLNZ and LVLN have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
LVLN is cheaper with a 0.40% expense ratio, compared with 0.65% for SLNZ.
SLNZ has the higher dividend yield at 7.53%, compared with 3.71% for LVLN.
They also come from different issuers: TCW and State Street. Their fees differ too: 0.65% for SLNZ and 0.40% for LVLN.
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