SLNZ vs. USLN
SLNZ (TCW Senior Loan ETF) and USLN (iShares Broad USD Floating Rate Loan ETF) are both Bank Loan funds. SLNZ is actively managed, while USLN is passively managed. At a correlation of -0.18, they often move in opposite directions. SLNZ charges 0.65%/yr vs 0.43%/yr for USLN.
Performance
SLNZ vs. USLN - Performance Comparison
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Returns By Period
SLNZ
- 1D
- 0.03%
- 1M
- 0.82%
- YTD
- 1.61%
- 6M
- 2.01%
- 1Y
- 4.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USLN
- 1D
- 0.02%
- 1M
- 0.54%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLNZ vs. USLN - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SLNZ TCW Senior Loan ETF | 2.62% |
USLN iShares Broad USD Floating Rate Loan ETF | 1.89% |
Correlation
The correlation between SLNZ and USLN is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026 | -0.18 |
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Return for Risk
SLNZ vs. USLN — Risk / Return Rank
SLNZ
USLN
SLNZ vs. USLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Senior Loan ETF (SLNZ) 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.
| SLNZ | USLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.20 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | — | — |
| Martin ratioReturn relative to average drawdown | 5.56 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLNZ | USLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 3.00 | -1.81 |
Drawdowns
SLNZ vs. USLN - Drawdown Comparison
The maximum SLNZ drawdown since its inception was -2.57%, which is greater than USLN's maximum drawdown of -0.75%. Use the drawdown chart below to compare losses from any high point for SLNZ and USLN.
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Drawdown Indicators
| SLNZ | USLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.57% | -0.75% | -1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.04% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -0.21% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | — | — |
Volatility
SLNZ vs. USLN - Volatility Comparison
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Volatility by Period
| SLNZ | USLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 2.58% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.28% | 2.58% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.28% | 2.58% | +1.70% |
SLNZ vs. USLN - Expense Ratio Comparison
SLNZ has a 0.65% expense ratio, which is higher than USLN's 0.43% expense ratio.
Dividends
SLNZ vs. USLN - Dividend Comparison
SLNZ's dividend yield for the trailing twelve months is around 7.54%, more than USLN's 1.54% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
SLNZ TCW Senior Loan ETF | 7.54% | 7.39% | 1.39% |
USLN iShares Broad USD Floating Rate Loan ETF | 1.54% | 0.00% | 0.00% |
Frequently Asked Questions
SLNZ and USLN have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USLN is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USLN is cheaper with a 0.43% expense ratio, compared with 0.65% for SLNZ.
SLNZ has the higher dividend yield at 7.54%, compared with 1.54% for USLN.
They also come from different issuers: TCW and iShares. Their fees differ too: 0.65% for SLNZ and 0.43% for USLN.
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