SRLN vs. BFRAX
SRLN (State Street Blackstone Senior Loan ETF) and BFRAX (BlackRock Floating Rate Income Fund) are both Bank Loan funds. Over the past 10 years, SRLN returned 4.52%/yr vs 4.36%/yr for BFRAX. At a 0.41 correlation, their price movements are largely independent. SRLN charges 0.70%/yr vs 0.90%/yr for BFRAX.
Performance
SRLN vs. BFRAX - Performance Comparison
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Returns By Period
In the year-to-date period, SRLN achieves a 0.28% return, which is significantly lower than BFRAX's 0.32% return. Both investments have delivered pretty close results over the past 10 years, with SRLN having a 4.52% annualized return and BFRAX not far behind at 4.36%.
SRLN
- 1D
- -0.20%
- 1M
- -0.09%
- YTD
- 0.28%
- 6M
- 0.45%
- 1Y
- 4.54%
- 3Y*
- 7.31%
- 5Y*
- 4.43%
- 10Y*
- 4.52%
BFRAX
- 1D
- -0.11%
- 1M
- -0.03%
- YTD
- 0.32%
- 6M
- 0.85%
- 1Y
- 3.91%
- 3Y*
- 6.39%
- 5Y*
- 4.66%
- 10Y*
- 4.36%
SRLN vs. BFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 0.28% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
BFRAX BlackRock Floating Rate Income Fund | 0.32% | 5.35% | 8.12% | 9.94% | -1.43% | 3.59% | 2.39% | 8.60% | -0.74% | 3.10% |
Correlation
The correlation between SRLN and BFRAX is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013 | 0.41 |
The correlation between SRLN and BFRAX shifts across timeframes, from 0.41 (all time) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SRLN vs. BFRAX — Risk / Return Rank
SRLN
BFRAX
SRLN vs. BFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) and BlackRock Floating Rate Income Fund (BFRAX). 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 | BFRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.53 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.37 | -0.98 |
| Martin ratioReturn relative to average drawdown | 5.17 | 7.32 | -2.15 |
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Drawdowns
SRLN vs. BFRAX - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum BFRAX drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for SRLN and BFRAX.
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Drawdown Indicators
| SRLN | BFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -44.69% | +22.40% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -1.70% | -1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -2.81% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -6.43% | -1.50% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | -20.61% | -1.68% |
Current DrawdownCurrent decline from peak | -0.52% | -0.53% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -1.10% | -6.78% | +5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.55% | +0.33% |
Volatility
SRLN vs. BFRAX - Volatility Comparison
State Street Blackstone Senior Loan ETF (SRLN) and BlackRock Floating Rate Income Fund (BFRAX) have volatilities of 0.64% and 0.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRLN | BFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.65% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 1.68% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 2.26% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 2.80% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 3.95% | +2.11% |
SRLN vs. BFRAX - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is lower than BFRAX's 0.90% expense ratio.
Dividends
SRLN vs. BFRAX - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.52%, more than BFRAX's 6.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFRAX BlackRock Floating Rate Income Fund | 6.47% | 6.68% | 8.00% | 6.24% | 4.09% | 2.91% | 3.81% | 4.65% | 4.58% | 3.45% | 3.90% | 4.02% |
SRLN State Street Blackstone Senior Loan ETF | 7.52% | 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 BFRAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BFRAX has higher volatility (0.65%) compared to SRLN (0.64%). In terms of maximum drawdown, SRLN dropped -22.29% vs BFRAX's -44.69%.
BFRAX currently has the higher Sharpe Ratio (1.79 vs 1.57), 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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