SLV vs. BRLN
SLV (iShares Silver Trust) and BRLN (BlackRock Floating Rate Loan ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while BRLN is a Bank Loan fund actively managed by BlackRock. SLV is passively managed, while BRLN is actively managed. Over the past 3 years, SLV returned 39.38%/yr vs 6.90%/yr for BRLN. At a 0.02 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.55%/yr for BRLN.
Performance
SLV vs. BRLN - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -13.49% return, which is significantly lower than BRLN's 1.25% return.
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
BRLN
- 1D
- -0.31%
- 1M
- 0.60%
- YTD
- 1.25%
- 6M
- 1.66%
- 1Y
- 4.80%
- 3Y*
- 6.90%
- 5Y*
- —
- 10Y*
- —
SLV vs. BRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SLV iShares Silver Trust | -13.49% | 144.66% | 20.89% | -1.09% | 15.96% |
BRLN BlackRock Floating Rate Loan ETF | 1.25% | 5.38% | 7.49% | 13.42% | 1.66% |
Correlation
The correlation between SLV and BRLN is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | 0.02 |
The correlation between SLV and BRLN shifts across timeframes, from -0.09 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLV vs. BRLN — Risk / Return Rank
SLV
BRLN
SLV vs. BRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and BlackRock Floating Rate Loan ETF (BRLN). 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.
| SLV | BRLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.41 | -0.94 |
| Martin ratioReturn relative to average drawdown | 3.16 | 9.21 | -6.05 |
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Drawdowns
SLV vs. BRLN - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than BRLN's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for SLV and BRLN.
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Drawdown Indicators
| SLV | BRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -3.85% | -72.43% |
Max Drawdown (1Y)Largest decline over 1 year | -47.23% | -2.00% | -45.23% |
Max Drawdown (3Y)Largest decline over 3 years | -47.23% | -3.85% | -43.38% |
Max Drawdown (5Y)Largest decline over 5 years | -47.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.23% | — | — |
Current DrawdownCurrent decline from peak | -47.23% | -0.59% | -46.64% |
Average DrawdownAverage peak-to-trough decline | -44.65% | -0.32% | -44.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.91% | 0.52% | +21.39% |
Volatility
SLV vs. BRLN - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 14.34% compared to BlackRock Floating Rate Loan ETF (BRLN) at 1.25%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than BRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | BRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.34% | 1.25% | +13.09% |
Volatility (6M)Calculated over the trailing 6-month period | 59.27% | 2.41% | +56.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.33% | 3.18% | +57.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.59% | 3.75% | +32.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.09% | 3.75% | +28.34% |
SLV vs. BRLN - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than BRLN's 0.55% expense ratio.
Dividends
SLV vs. BRLN - Dividend Comparison
SLV has not paid dividends to shareholders, while BRLN's dividend yield for the trailing twelve months is around 6.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BRLN BlackRock Floating Rate Loan ETF | 6.36% | 6.50% | 7.87% | 9.06% | 1.48% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLV and BRLN have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.34%) compared to BRLN (1.25%). In terms of maximum drawdown, SLV dropped -76.28% vs BRLN's -3.85%.
On 3-year performance, SLV leads with 39.38% vs 6.90% for BRLN. On fees, SLV is cheaper at 0.50% per year. On volatility, BRLN has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SLV has performed better with a 39.38% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.55% for BRLN.
BRLN has the higher dividend yield at 6.36%, compared with 0.00% for SLV.
SLV is categorized as Silver, while BRLN is Bank Loan. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.50% for SLV and 0.55% for BRLN.
BRLN currently has the higher Sharpe Ratio (1.52 vs 1.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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