SRLN vs. BFEB
SRLN (State Street Blackstone Senior Loan ETF) and BFEB (Innovator S&P 500 Buffer ETF - February) are both exchange-traded funds - SRLN is a Bank Loan fund actively managed by State Street, while BFEB is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index February Series. SRLN is actively managed, while BFEB is passively managed. Over the past 5 years, SRLN returned 4.84%/yr vs 11.53%/yr for BFEB. Their 0.62 correlation means they have sometimes moved together and sometimes differently. SRLN charges 0.70%/yr vs 0.79%/yr for BFEB.
Performance
SRLN vs. BFEB - Performance Comparison
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Returns By Period
In the year-to-date period, SRLN achieves a 1.61% return, which is significantly lower than BFEB's 9.56% return.
SRLN
- 1D
- 0.22%
- 1M
- 0.85%
- 6M
- 1.93%
- YTD
- 1.61%
- 1Y
- 4.84%
- 3Y*
- 7.25%
- 5Y*
- 4.84%
- 10Y*
- 4.52%
- ALL TIME*
- 3.81%
BFEB
- 1D
- 0.66%
- 1M
- 1.41%
- 6M
- 6.78%
- YTD
- 9.56%
- 1Y
- 18.66%
- 3Y*
- 15.78%
- 5Y*
- 11.53%
- 10Y*
- —
- ALL TIME*
- 11.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $298.59K | $511.89K | $646.30K | |
| $44.81M | $49.21M | $72.42M |
SRLN vs. BFEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 1.61% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.31% |
BFEB Innovator S&P 500 Buffer ETF - February | 9.56% | 12.99% | 17.58% | 22.35% | -6.76% | 18.05% | 6.01% |
Correlation
The correlation between SRLN and BFEB is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2020 | 0.62 |
The correlation between SRLN and BFEB has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.
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Return for Risk
SRLN vs. BFEB — Risk / Return Rank
SRLN
BFEB
SRLN vs. BFEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) and Innovator S&P 500 Buffer ETF - February (BFEB). 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.
| SRLN | BFEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.42 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.92 | -1.43 |
| Martin ratioReturn relative to average drawdown | 5.50 | 14.38 | -8.88 |
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Drawdowns
SRLN vs. BFEB - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum BFEB drawdown of -27.20%. Use the drawdown chart below to compare losses from any high point for SRLN and BFEB.
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Drawdown Indicators
| SRLN | BFEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -27.20% | +4.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -6.41% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -13.82% | +9.56% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -14.84% | +6.91% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -2.73% | +1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.30% | -0.42% |
Volatility
SRLN vs. BFEB - Volatility Comparison
The current volatility for State Street Blackstone Senior Loan ETF (SRLN) is 0.51%, while Innovator S&P 500 Buffer ETF - February (BFEB) has a volatility of 2.31%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than BFEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRLN | BFEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 2.31% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 6.90% | -4.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 8.49% | -5.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 11.46% | -7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 14.16% | -8.10% |
SRLN vs. BFEB - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is lower than BFEB's 0.79% expense ratio.
Dividends
SRLN vs. BFEB - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.34%, while BFEB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFEB Innovator S&P 500 Buffer ETF - February | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SRLN State Street Blackstone Senior Loan ETF | 7.34% | 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 BFEB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BFEB has higher volatility (2.31%) compared to SRLN (0.51%). In terms of maximum drawdown, SRLN dropped -22.29% vs BFEB's -27.20%.
On 5-year performance, BFEB leads with 11.53% vs 4.84% for SRLN. On fees, SRLN is cheaper at 0.70% per year. On volatility, SRLN has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BFEB has performed better with a 11.53% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRLN is cheaper with a 0.70% expense ratio, compared with 0.79% for BFEB.
SRLN has the higher dividend yield at 7.34%, compared with 0.00% for BFEB.
SRLN is categorized as Bank Loan, while BFEB is Options Trading. They also come from different issuers: State Street and Innovator. Their fees differ too: 0.70% for SRLN and 0.79% for BFEB.
BFEB currently has the higher Sharpe Ratio (2.21 vs 1.66), 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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