SPIP vs. BKLN
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and Invesco Senior Loan ETF (BKLN).
SPIP and BKLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 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 SPIP 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: SPIP or BKLN.
Key characteristics
| SPIP | BKLN | |
|---|---|---|
| YTD Return | 3.68% | 7.53% |
| 1Y Return | 7.14% | 9.91% |
| 3Y Return (Ann) | -2.45% | 5.85% |
| 5Y Return (Ann) | 2.08% | 4.49% |
| 10Y Return (Ann) | 2.14% | 3.59% |
| Sharpe Ratio | 1.23 | 4.37 |
| Sortino Ratio | 1.87 | 6.74 |
| Omega Ratio | 1.22 | 2.21 |
| Calmar Ratio | 0.52 | 6.11 |
| Martin Ratio | 6.14 | 51.74 |
| Ulcer Index | 1.16% | 0.20% |
| Daily Std Dev | 5.83% | 2.32% |
| Max Drawdown | -15.38% | -24.17% |
| Current Drawdown | -7.47% | 0.00% |
Correlation
The correlation between SPIP and BKLN is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SPIP vs. BKLN - Performance Comparison
In the year-to-date period, SPIP achieves a 3.68% return, which is significantly lower than BKLN's 7.53% return. Over the past 10 years, SPIP has underperformed BKLN with an annualized return of 2.14%, while BKLN has yielded a comparatively higher 3.59% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPIP vs. BKLN - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is lower than BKLN's 0.65% expense ratio.
Risk-Adjusted Performance
SPIP vs. BKLN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) 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
SPIP vs. BKLN - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 3.21%, less than BKLN's 8.63% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 3.21% | 3.70% | 7.06% | 4.53% | 1.97% | 2.60% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
BKLN Invesco Senior Loan ETF | 8.63% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.51% | 3.51% | 4.55% | 4.11% | 4.12% | 4.39% |
Drawdowns
SPIP vs. BKLN - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.38%, smaller than the maximum BKLN drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for SPIP and BKLN. For additional features, visit the drawdowns tool.
Volatility
SPIP vs. BKLN - Volatility Comparison
SPDR Portfolio TIPS ETF (SPIP) has a higher volatility of 1.32% compared to Invesco Senior Loan ETF (BKLN) at 0.49%. This indicates that SPIP'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.