SRLN vs. CSD
Compare and contrast key facts about SPDR Blackstone Senior Loan ETF (SRLN) and Invesco S&P Spin-Off ETF (CSD).
SRLN and CSD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SRLN is a passively managed fund by State Street that tracks the performance of the Markit iBoxx USD Liquid Leveraged Loan Index. It was launched on Apr 3, 2013. CSD is a passively managed fund by Invesco that tracks the performance of the S&P U.S. Spin-Off Index. It was launched on Dec 15, 2006. Both SRLN and CSD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SRLN vs. CSD - Performance Comparison
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SRLN vs. CSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRLN SPDR Blackstone Senior Loan ETF | -1.58% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
CSD Invesco S&P Spin-Off ETF | 12.97% | 21.58% | 27.61% | 23.77% | -15.04% | 13.01% | 10.79% | 20.61% | -17.82% | 20.64% |
Returns By Period
In the year-to-date period, SRLN achieves a -1.58% return, which is significantly lower than CSD's 12.97% return. Over the past 10 years, SRLN has underperformed CSD with an annualized return of 4.48%, while CSD has yielded a comparatively higher 12.09% annualized return.
SRLN
- 1D
- 0.55%
- 1M
- 1.20%
- YTD
- -1.58%
- 6M
- 0.17%
- 1Y
- 5.24%
- 3Y*
- 7.42%
- 5Y*
- 4.46%
- 10Y*
- 4.48%
CSD
- 1D
- 4.82%
- 1M
- -6.74%
- YTD
- 12.97%
- 6M
- 21.17%
- 1Y
- 50.42%
- 3Y*
- 26.15%
- 5Y*
- 12.70%
- 10Y*
- 12.09%
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SRLN vs. CSD - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is higher than CSD's 0.65% expense ratio.
Return for Risk
SRLN vs. CSD — Risk / Return Rank
SRLN
CSD
SRLN vs. CSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Blackstone Senior Loan ETF (SRLN) and Invesco S&P Spin-Off ETF (CSD). 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 | CSD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.22 | 1.74 | -0.52 |
Sortino ratioReturn per unit of downside risk | 1.78 | 2.30 | -0.53 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.99 | -1.44 |
Martin ratioReturn relative to average drawdown | 5.67 | 12.37 | -6.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SRLN | CSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.74 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.15 | 0.55 | +0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.49 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.39 | +0.29 |
Correlation
The correlation between SRLN and CSD is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SRLN vs. CSD - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.73%, more than CSD's 0.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRLN SPDR Blackstone Senior Loan ETF | 7.73% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
CSD Invesco S&P Spin-Off ETF | 0.14% | 0.16% | 0.17% | 0.51% | 0.86% | 0.73% | 0.99% | 1.08% | 0.99% | 0.60% | 1.62% | 2.61% |
Drawdowns
SRLN vs. CSD - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum CSD drawdown of -70.47%. Use the drawdown chart below to compare losses from any high point for SRLN and CSD.
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Drawdown Indicators
| SRLN | CSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -70.47% | +48.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -17.08% | +13.77% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -30.15% | +22.22% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | -57.55% | +35.26% |
Current DrawdownCurrent decline from peak | -1.94% | -7.06% | +5.12% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -14.35% | +13.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 4.13% | -3.20% |
Volatility
SRLN vs. CSD - Volatility Comparison
The current volatility for SPDR Blackstone Senior Loan ETF (SRLN) is 1.77%, while Invesco S&P Spin-Off ETF (CSD) has a volatility of 10.52%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than CSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRLN | CSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 10.52% | -8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 19.01% | -16.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 29.16% | -24.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.89% | 23.04% | -19.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.05% | 24.69% | -18.64% |