SRLN vs. BIZD
SRLN (State Street Blackstone Senior Loan ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - SRLN is a Bank Loan fund actively managed by State Street, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. SRLN is actively managed, while BIZD is passively managed. Over the past 10 years, SRLN returned 4.56%/yr vs 7.66%/yr for BIZD. At a 0.34 correlation, their price movements are largely independent. SRLN charges 0.70%/yr vs 12.86%/yr for BIZD.
Performance
SRLN vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, SRLN achieves a 0.75% return, which is significantly higher than BIZD's -9.43% return. Over the past 10 years, SRLN has underperformed BIZD with an annualized return of 4.56%, while BIZD has yielded a comparatively higher 7.66% annualized return.
SRLN
- 1D
- 0.10%
- 1M
- 0.28%
- YTD
- 0.75%
- 6M
- 1.14%
- 1Y
- 5.41%
- 3Y*
- 7.50%
- 5Y*
- 4.60%
- 10Y*
- 4.56%
BIZD
- 1D
- 0.16%
- 1M
- -1.20%
- YTD
- -9.43%
- 6M
- -8.46%
- 1Y
- -13.47%
- 3Y*
- 4.52%
- 5Y*
- 4.48%
- 10Y*
- 7.66%
SRLN vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 0.75% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
BIZD VanEck BDC Income ETF | -9.43% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between SRLN and BIZD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013 | 0.35 |
The correlation between SRLN and BIZD shifts across timeframes, from 0.34 (all time) to 0.50 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SRLN vs. BIZD — Risk / Return Rank
SRLN
BIZD
SRLN vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) and VanEck BDC Income ETF (BIZD). 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 | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +3.67 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.89 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | -0.61 | +2.28 |
| Martin ratioReturn relative to average drawdown | 6.17 | -1.02 | +7.19 |
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Drawdowns
SRLN vs. BIZD - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for SRLN and BIZD.
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Drawdown Indicators
| SRLN | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -55.44% | +33.15% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -22.22% | +18.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -22.56% | +18.30% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -22.91% | +14.98% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | -55.44% | +33.15% |
Current DrawdownCurrent decline from peak | -0.05% | -19.66% | +19.61% |
Average DrawdownAverage peak-to-trough decline | -1.10% | -6.75% | +5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 13.18% | -12.30% |
Volatility
SRLN vs. BIZD - Volatility Comparison
The current volatility for State Street Blackstone Senior Loan ETF (SRLN) is 0.58%, while VanEck BDC Income ETF (BIZD) has a volatility of 5.51%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRLN | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 5.51% | -4.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 15.14% | -12.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 18.48% | -15.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.91% | 17.44% | -13.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 21.77% | -15.71% |
SRLN vs. BIZD - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
SRLN vs. BIZD - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.49%, less than BIZD's 13.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 13.94% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
SRLN State Street 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 BIZD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (5.51%) compared to SRLN (0.58%). In terms of maximum drawdown, SRLN dropped -22.29% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.66% vs 4.56% for SRLN. On fees, SRLN is cheaper at 0.70% per year. On volatility, SRLN has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIZD has performed better with a 7.66% return vs 4.56%. 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 12.86% for BIZD.
BIZD has the higher dividend yield at 13.94%, compared with 7.49% for SRLN.
SRLN is categorized as Bank Loan, while BIZD is Financials Equities. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.70% for SRLN and 12.86% for BIZD.
SRLN currently has the higher Sharpe Ratio (1.87 vs -0.73), 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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