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SRLN vs. BBHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SRLN vs. BBHY

Last updated Jun 5, 2026

SRLN (SPDR Blackstone Senior Loan ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - SRLN tracks the Markit iBoxx USD Liquid Leveraged Loan Index while BBHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past 5 years, SRLN returned 4.63%/yr vs 4.12%/yr for BBHY. A 0.52 correlation means they provide meaningful diversification when combined. SRLN charges 0.70%/yr vs 0.15%/yr for BBHY.

Performance

SRLN vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Blackstone Senior Loan ETF (SRLN) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SRLN achieves a 0.73% return, which is significantly lower than BBHY's 1.73% return.

SRLN

1D
0.05%
1M
0.33%
YTD
0.73%
6M
1.31%
1Y
5.62%
3Y*
7.83%
5Y*
4.63%
10Y*
4.52%

BBHY

1D
0.15%
1M
0.49%
YTD
1.73%
6M
2.18%
1Y
7.10%
3Y*
8.76%
5Y*
4.12%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SRLN vs. BBHY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SRLN
SPDR Blackstone Senior Loan ETF		0.73%6.77%8.43%11.62%-5.30%4.49%3.13%10.03%-0.66%3.39%
BBHY
JPMorgan BetaBuilders USD High Yield Corporate Bond ETF		1.73%8.51%7.81%11.98%-10.37%3.88%5.36%14.35%-2.50%6.57%

Correlation

The correlation between SRLN and BBHY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.60

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2016

0.52

The correlation between SRLN and BBHY has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

SRLN vs. BBHY - Sectors Allocation Comparison

Sectors
SRLN
BBHY

Communication Services

91.8%
7.9%

Industrials

8.2%
8.4%

Basic Materials

-

3.2%

Consumer Cyclical

-

10.0%

Consumer Defensive

-

2.5%

Energy

-

5.2%

Financial Services

-

4.1%

Healthcare

-

5.4%

Real Estate

-

3.9%

Technology

-

4.0%

Utilities

-

2.0%

Communication Services

SRLN
91.8%
BBHY
7.9%

Industrials

SRLN
8.2%
BBHY
8.4%

Basic Materials

SRLN

-

BBHY
3.2%

Consumer Cyclical

SRLN

-

BBHY
10.0%

Consumer Defensive

SRLN

-

BBHY
2.5%

Energy

SRLN

-

BBHY
5.2%

Financial Services

SRLN

-

BBHY
4.1%

Healthcare

SRLN

-

BBHY
5.4%

Real Estate

SRLN

-

BBHY
3.9%

Technology

SRLN

-

BBHY
4.0%

Utilities

SRLN

-

BBHY
2.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Blackstone Senior Loan ETF

JPMorgan BetaBuilders USD High Yield Corporate Bond ETF

Often compared with SRLN:
SRLN vs. BKLNSRLN vs. HYBLSRLN vs. JBBBSRLN vs. SJNKSRLN vs. USHYSRLN vs. HYGSRLN vs. SEIX
Often compared with BBHY:
BBHY vs. SPHYBBHY vs. USHYBBHY vs. HYGBBHY vs. HYDBBHY vs. SPYBBHY vs. JNKBBHY vs. XB

Return for Risk

SRLN vs. BBHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SRLN
SRLN Risk / Return Rank: 5555
Overall Rank
SRLN Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
SRLN Sortino Ratio Rank: 6262
Sortino Ratio Rank
SRLN Omega Ratio Rank: 7676
Omega Ratio Rank
SRLN Calmar Ratio Rank: 3636
Calmar Ratio Rank
SRLN Martin Ratio Rank: 4141
Martin Ratio Rank
BBHY
BBHY Risk / Return Rank: 6565
Overall Rank
BBHY Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
BBHY Sortino Ratio Rank: 6666
Sortino Ratio Rank
BBHY Omega Ratio Rank: 6565
Omega Ratio Rank
BBHY Calmar Ratio Rank: 6262
Calmar Ratio Rank
BBHY Martin Ratio Rank: 7373
Martin Ratio Rank
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.

SRLN vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Blackstone Senior Loan ETF (SRLN) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

SRLNBBHYDifference
Sharpe ratioReturn per unit of total volatility
1.95
1.97

-0.02

Sortino ratioReturn per unit of downside risk
2.85
2.99

-0.14

Omega ratioGain probability vs. loss probability

1.45

1.39

+0.06

Calmar ratioReturn relative to maximum drawdown

1.73

3.00

-1.27

Martin ratioReturn relative to average drawdown

6.41

13.50

-7.09

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRLN vs. BBHY - Sharpe Ratio Comparison

The current SRLN Sharpe Ratio is 1.95, which is comparable to the BBHY Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SRLN and BBHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SRLNBBHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

1.97

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.19

0.57

+0.62

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

0.64

+0.06

Drawdowns

SRLN vs. BBHY - Drawdown Comparison

The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum BBHY drawdown of -24.98%. Use the drawdown chart below to compare losses from any high point for SRLN and BBHY.

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Drawdown Indicators

SRLNBBHYDifference

Max Drawdown

Largest peak-to-trough decline

-22.29%

-24.98%

+2.69%

Max Drawdown (1Y)

Largest decline over 1 year

-3.26%

-2.37%

-0.89%

Max Drawdown (3Y)

Largest decline over 3 years

-4.26%

-5.00%

+0.74%

Max Drawdown (5Y)

Largest decline over 5 years

-7.93%

-15.32%

+7.39%

Max Drawdown (10Y)

Largest decline over 10 years

-22.29%

—

—

Current Drawdown

Current decline from peak

-0.07%

-0.14%

+0.07%

Average Drawdown

Average peak-to-trough decline

-1.10%

-2.37%

+1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

0.53%

+0.35%

Volatility

SRLN vs. BBHY - Volatility Comparison

The current volatility for SPDR Blackstone Senior Loan ETF (SRLN) is 0.44%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 1.13%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SRLNBBHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.44%

1.13%

-0.69%

Volatility (6M)

Calculated over the trailing 6-month period

2.64%

2.85%

-0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

2.89%

3.62%

-0.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.91%

7.26%

-3.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.06%

7.53%

-1.47%

SRLN vs. BBHY - Expense Ratio Comparison

SRLN has a 0.70% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

SRLN vs. BBHY - Dividend Comparison

SRLN's dividend yield for the trailing twelve months is around 7.49%, more than BBHY's 6.94% yield.

PositionTTM20252024202320222021202020192018201720162015
BBHY
JPMorgan BetaBuilders USD High Yield Corporate Bond ETF		6.94%7.24%7.18%6.49%5.92%4.06%4.73%4.99%5.02%4.81%1.42%0.00%
SRLN
SPDR Blackstone Senior Loan ETF		7.49%7.67%8.58%8.44%5.72%4.45%4.91%5.39%4.98%4.01%3.94%4.43%

Frequently Asked Questions

SRLN and BBHY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BBHY has higher volatility (1.13%) compared to SRLN (0.44%). In terms of maximum drawdown, SRLN dropped -22.29% vs BBHY's -24.98%.

On 5-year performance, SRLN leads with 4.63% vs 4.12% for BBHY. On fees, BBHY is cheaper at 0.15% per year. On volatility, SRLN has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SRLN has performed better with a 4.63% return vs 4.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBHY is cheaper with a 0.15% expense ratio, compared with 0.70% for SRLN.

SRLN has the higher dividend yield at 7.49%, compared with 6.94% for BBHY.

SRLN tracks Markit iBoxx USD Liquid Leveraged Loan Index, while BBHY tracks ICE BofA US High Yield Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.70% for SRLN and 0.15% for BBHY.

BBHY currently has the higher Sharpe Ratio (1.97 vs 1.95), 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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