SLYV vs. FTSL

Last updated Jun 4, 2026

SLYV (SPDR S&P 600 Small Cap Value ETF) and FTSL (First Trust Senior Loan Fund) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while FTSL is a High Yield Bonds fund actively managed by First Trust. SLYV is passively managed, while FTSL is actively managed. Over the past 10 years, SLYV returned 10.18%/yr vs 4.45%/yr for FTSL. At a 0.33 correlation, their price movements are largely independent. SLYV charges 0.15%/yr vs 0.86%/yr for FTSL.

Performance

SLYV vs. FTSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Value ETF (SLYV) and First Trust Senior Loan Fund (FTSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLYV achieves a 15.25% return, which is significantly higher than FTSL's 0.62% return. Over the past 10 years, SLYV has outperformed FTSL with an annualized return of 10.18%, while FTSL has yielded a comparatively lower 4.45% annualized return.

SLYV

• 1D: -1.18%
• 1M: 2.30%
• YTD: 15.25%
• 6M: 14.70%
• 1Y: 37.01%
• 3Y*: 14.08%
• 5Y*: 5.66%
• 10Y*: 10.18%

FTSL

• 1D: -0.02%
• 1M: 0.20%
• YTD: 0.62%
• 6M: 0.99%
• 1Y: 4.53%
• 3Y*: 7.34%
• 5Y*: 5.02%
• 10Y*: 4.45%

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

SLYV vs. FTSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYV SPDR S&P 600 Small Cap Value ETF	15.25%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%
FTSL First Trust Senior Loan Fund	0.62%	5.98%	8.27%	11.58%	-2.50%	3.94%	2.99%	10.11%	-1.30%	2.59%

Correlation

The correlation between SLYV and FTSL is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since May 3, 2013	0.33

The correlation between SLYV and FTSL shifts across timeframes, from 0.33 (all time) to 0.47 (5 years), reflecting how their relationship changes across market environments.

SLYV vs. FTSL - Sectors Allocation Comparison

Sectors	SLYV	FTSL
Financial Services	19.8%	-
Consumer Cyclical	15.9%	-
Industrials	11.6%	-
Technology	11.3%	-
Real Estate	8.7%	-
Energy	7.6%	-
Healthcare	7.5%	-
Basic Materials	7.1%	100.0%
Communication Services	4.4%	-
Consumer Defensive	3.8%	-
Utilities	2.2%	-

Return for Risk

SLYV vs. FTSL — Risk / Return Rank

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

SLYV

SLYV Risk / Return Rank: 65
SLYV Sharpe Ratio Rank: 59
SLYV Sortino Ratio Rank: 62
SLYV Omega Ratio Rank: 56
SLYV Calmar Ratio Rank: 77
SLYV Martin Ratio Rank: 70

FTSL

FTSL Risk / Return Rank: 60
FTSL Sharpe Ratio Rank: 63
FTSL Sortino Ratio Rank: 73
FTSL Omega Ratio Rank: 83
FTSL Calmar Ratio Rank: 39
FTSL Martin Ratio Rank: 44

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.

SLYV vs. FTSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) and First Trust Senior Loan Fund (FTSL). 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.

	SLYV	FTSL	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.15	-0.11
Sortino ratio: Return per unit of downside risk	2.95	3.35	-0.40
Omega ratio: Gain probability vs. loss probability	1.35	1.51	-0.15
Calmar ratio: Return relative to maximum drawdown	3.97	1.95	+2.02
Martin ratio: Return relative to average drawdown	13.09	7.25	+5.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLYV vs. FTSL - Sharpe Ratio Comparison

The current SLYV Sharpe Ratio is 2.05, which is comparable to the FTSL Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SLYV and FTSL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLYV	FTSL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.15	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	1.50	-1.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.86	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.85	-0.39

Drawdowns

SLYV vs. FTSL - Drawdown Comparison

The maximum SLYV drawdown since its inception was -61.15%, which is greater than FTSL's maximum drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for SLYV and FTSL.

Drawdown Indicators

	SLYV	FTSL	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-22.67%	-38.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-2.33%	-7.03%
Max Drawdown (3Y) Largest decline over 3 years	-28.68%	-2.66%	-26.02%
Max Drawdown (5Y) Largest decline over 5 years	-28.68%	-6.96%	-21.72%
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	-22.67%	-25.06%
Current Drawdown Current decline from peak	-1.18%	-0.03%	-1.15%
Average Drawdown Average peak-to-trough decline	-8.94%	-0.76%	-8.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	0.63%	+2.20%

Volatility

SLYV vs. FTSL - Volatility Comparison

SPDR S&P 600 Small Cap Value ETF (SLYV) has a higher volatility of 4.42% compared to First Trust Senior Loan Fund (FTSL) at 0.36%. This indicates that SLYV's price experiences larger fluctuations and is considered to be riskier than FTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLYV	FTSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	0.36%	+4.06%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	1.95%	+9.51%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	2.11%	+16.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.96%	3.35%	+18.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.96%	5.19%	+18.77%

SLYV vs. FTSL - Expense Ratio Comparison

SLYV has a 0.15% expense ratio, which is lower than FTSL's 0.86% expense ratio.

Dividends

SLYV vs. FTSL - Dividend Comparison

SLYV's dividend yield for the trailing twelve months is around 1.82%, less than FTSL's 6.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTSL First Trust Senior Loan Fund	6.46%	6.59%	7.56%	7.59%	4.77%	3.17%	3.48%	4.44%	4.29%	3.64%	3.70%	3.95%
SLYV SPDR S&P 600 Small Cap Value ETF	1.82%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%

Frequently Asked Questions

Can I hold both SLYV and FTSL in my portfolio?

SLYV and FTSL have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLYV or FTSL?

SLYV has higher volatility (4.42%) compared to FTSL (0.36%). In terms of maximum drawdown, SLYV dropped -61.15% vs FTSL's -22.67%.

Which ETF is better, SLYV or FTSL?

On 10-year performance, SLYV leads with 10.18% vs 4.45% for FTSL. On fees, SLYV is cheaper at 0.15% per year. On volatility, FTSL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLYV or FTSL?

Over the 10-year period, SLYV has performed better with a 10.18% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYV or FTSL?

SLYV is cheaper with a 0.15% expense ratio, compared with 0.86% for FTSL.

Which ETF pays a higher dividend yield, SLYV or FTSL?

FTSL has the higher dividend yield at 6.46%, compared with 1.82% for SLYV.

What is the main difference between SLYV and FTSL?

SLYV is categorized as Small Cap Value Equities, while FTSL is High Yield Bonds. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.15% for SLYV and 0.86% for FTSL.

Which has better risk-adjusted returns?

FTSL currently has the higher Sharpe Ratio (2.15 vs 2.05), 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.