SRLN vs. BSJR

Last updated Jun 5, 2026

SRLN (SPDR Blackstone Senior Loan ETF) and BSJR (Invesco BulletShares 2027 High Yield Corporate Bond ETF) are both High Yield Bonds funds - SRLN tracks the Markit iBoxx USD Liquid Leveraged Loan Index while BSJR tracks the NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. Both are passively managed. Over the past 5 years, SRLN returned 4.63%/yr vs 3.40%/yr for BSJR. A 0.57 correlation means they provide meaningful diversification when combined. SRLN charges 0.70%/yr vs 0.42%/yr for BSJR.

Performance

SRLN vs. BSJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Blackstone Senior Loan ETF (SRLN) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRLN achieves a 0.73% return, which is significantly lower than BSJR's 1.27% 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%

BSJR

• 1D: 0.15%
• 1M: 0.25%
• YTD: 1.27%
• 6M: 1.81%
• 1Y: 4.78%
• 3Y*: 7.93%
• 5Y*: 3.40%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SRLN vs. BSJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SRLN SPDR Blackstone Senior Loan ETF	0.73%	6.77%	8.43%	11.62%	-5.30%	4.49%	3.13%	2.30%
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	1.27%	7.41%	7.15%	11.91%	-11.35%	3.60%	5.69%	3.00%

Correlation

The correlation between SRLN and BSJR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	0.57

The correlation between SRLN and BSJR has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.

SRLN vs. BSJR - Sectors Allocation Comparison

Sectors	SRLN	BSJR
Communication Services	91.8%	6.0%
Industrials	8.2%	10.3%
Basic Materials	-	1.6%
Consumer Cyclical	-	11.2%
Consumer Defensive	-	1.8%
Energy	-	4.3%
Financial Services	-	13.8%
Healthcare	-	2.7%
Real Estate	-	4.2%
Technology	-	1.6%
Utilities	-	0.8%

Return for Risk

SRLN vs. BSJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SRLN

SRLN Risk / Return Rank: 55
SRLN Sharpe Ratio Rank: 59
SRLN Sortino Ratio Rank: 62
SRLN Omega Ratio Rank: 76
SRLN Calmar Ratio Rank: 36
SRLN Martin Ratio Rank: 41

BSJR

BSJR Risk / Return Rank: 79
BSJR Sharpe Ratio Rank: 71
BSJR Sortino Ratio Rank: 79
BSJR Omega Ratio Rank: 77
BSJR Calmar Ratio Rank: 80
BSJR Martin Ratio Rank: 88

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. BSJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Blackstone Senior Loan ETF (SRLN) and Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR). 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.

	SRLN	BSJR	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.27	-0.31
Sortino ratio: Return per unit of downside risk	2.85	3.51	-0.66
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	1.73	4.13	-2.40
Martin ratio: Return relative to average drawdown	6.41	19.06	-12.65
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. BSJR - Sharpe Ratio Comparison

The current SRLN Sharpe Ratio is 1.95, which is comparable to the BSJR Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SRLN and BSJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SRLN	BSJR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.27	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	0.51	+0.68
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	0.43	+0.27

Drawdowns

SRLN vs. BSJR - Drawdown Comparison

The maximum SRLN drawdown since its inception was -22.29%, roughly equal to the maximum BSJR drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for SRLN and BSJR.

Drawdown Indicators

	SRLN	BSJR	Difference
Max Drawdown Largest peak-to-trough decline	-22.29%	-22.58%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-1.16%	-2.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.26%	-3.15%	-1.11%
Max Drawdown (5Y) Largest decline over 5 years	-7.93%	-16.37%	+8.44%
Max Drawdown (10Y) Largest decline over 10 years	-22.29%	—	—
Current Drawdown Current decline from peak	-0.07%	-0.11%	+0.04%
Average Drawdown Average peak-to-trough decline	-1.10%	-3.25%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.25%	+0.63%

Volatility

SRLN vs. BSJR - Volatility Comparison

The current volatility for SPDR Blackstone Senior Loan ETF (SRLN) is 0.44%, while Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) has a volatility of 0.59%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than BSJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRLN	BSJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.59%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	1.45%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.89%	2.12%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.91%	6.73%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.06%	9.36%	-3.30%

SRLN vs. BSJR - Expense Ratio Comparison

SRLN has a 0.70% expense ratio, which is higher than BSJR's 0.42% expense ratio.

Dividends

SRLN vs. BSJR - Dividend Comparison

SRLN's dividend yield for the trailing twelve months is around 7.49%, more than BSJR's 5.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF	5.74%	6.19%	6.75%	6.48%	5.37%	4.49%	4.53%	1.20%	0.00%	0.00%	0.00%	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

Can I hold both SRLN and BSJR in my portfolio?

SRLN and BSJR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRLN or BSJR?

BSJR has higher volatility (0.59%) compared to SRLN (0.44%). In terms of maximum drawdown, SRLN dropped -22.29% vs BSJR's -22.58%.

Which ETF is better, SRLN or BSJR?

On 5-year performance, SRLN leads with 4.63% vs 3.40% for BSJR. On fees, BSJR is cheaper at 0.42% 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.

Which ETF has performed better, SRLN or BSJR?

Over the 5-year period, SRLN has performed better with a 4.63% return vs 3.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SRLN or BSJR?

BSJR is cheaper with a 0.42% expense ratio, compared with 0.70% for SRLN.

Which ETF pays a higher dividend yield, SRLN or BSJR?

SRLN has the higher dividend yield at 7.49%, compared with 5.74% for BSJR.

What is the main difference between SRLN and BSJR?

SRLN tracks Markit iBoxx USD Liquid Leveraged Loan Index, while BSJR tracks NASDAQ BulletShares USD High Yield Corporate Bond 2027 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.70% for SRLN and 0.42% for BSJR.

Which has better risk-adjusted returns?

BSJR currently has the higher Sharpe Ratio (2.27 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.