SRLN vs. EFR

Last updated Jul 15, 2026

SRLN (State Street Blackstone Senior Loan ETF) is Bank Loan fund actively managed by State Street, while EFR (Eaton Vance Senior Floating-Rate Trust) is a stock. Over the past 10 years, SRLN returned 4.52%/yr vs 6.02%/yr for EFR. At a 0.29 correlation, their price movements are largely independent.

Performance

SRLN vs. EFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Blackstone Senior Loan ETF (SRLN) and Eaton Vance Senior Floating-Rate Trust (EFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRLN achieves a 1.21% return, which is significantly higher than EFR's -0.16% return. Over the past 10 years, SRLN has underperformed EFR with an annualized return of 4.52%, while EFR has yielded a comparatively higher 6.02% annualized return.

SRLN

• 1D: -0.02%
• 1M: 0.70%
• 6M: 0.86%
• YTD: 1.21%
• 1Y: 4.43%
• 3Y*: 7.11%
• 5Y*: 4.66%
• 10Y*: 4.52%

EFR

• 1D: 0.38%
• 1M: 1.77%
• 6M: -1.92%
• YTD: -0.16%
• 1Y: -4.49%
• 3Y*: 6.58%
• 5Y*: 3.67%
• 10Y*: 6.02%

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

SRLN vs. EFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SRLN State Street Blackstone Senior Loan ETF	1.21%	6.77%	8.43%	11.62%	-5.30%	4.49%	3.13%	10.03%	-0.66%	3.39%
EFR Eaton Vance Senior Floating-Rate Trust	-0.16%	-4.85%	11.32%	29.25%	-18.73%	22.88%	0.83%	16.43%	-6.96%	3.37%

Correlation

The correlation between SRLN and EFR is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013	0.29

Return for Risk

SRLN vs. EFR — Risk / Return Rank

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

SRLN

SRLN Risk / Return Rank: 52
SRLN Sharpe Ratio Rank: 56
SRLN Sortino Ratio Rank: 58
SRLN Omega Ratio Rank: 71
SRLN Calmar Ratio Rank: 33
SRLN Martin Ratio Rank: 40

EFR

EFR Risk / Return Rank: 23
EFR Sharpe Ratio Rank: 19
EFR Sortino Ratio Rank: 17
EFR Omega Ratio Rank: 17
EFR Calmar Ratio Rank: 32
EFR Martin Ratio Rank: 30

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. EFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) and Eaton Vance Senior Floating-Rate Trust (EFR). 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	EFR	Difference
Sharpe ratio: Return per unit of total volatility	1.52	-0.58	+2.10
Sortino ratio: Return per unit of downside risk	2.22	-0.77	+2.99
Omega ratio: Gain probability vs. loss probability	1.33	0.90	+0.43
Calmar ratio: Return relative to maximum drawdown	1.36	-0.39	+1.76
Martin ratio: Return relative to average drawdown	5.03	-0.78	+5.81

SRLN vs. EFR - Sharpe Ratio Comparison

The current SRLN Sharpe Ratio is 1.52, which is higher than the EFR Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of SRLN and EFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SRLN vs. EFR - Drawdown Comparison

The maximum SRLN drawdown since its inception was -22.29%, smaller than the maximum EFR drawdown of -60.55%. Use the drawdown chart below to compare losses from any high point for SRLN and EFR.

Drawdown Indicators

	SRLN	EFR	Difference
Max Drawdown Largest peak-to-trough decline	-22.29%	-60.55%	+38.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-11.49%	+8.23%
Max Drawdown (3Y) Largest decline over 3 years	-4.26%	-18.30%	+14.04%
Max Drawdown (5Y) Largest decline over 5 years	-7.93%	-25.07%	+17.14%
Max Drawdown (10Y) Largest decline over 10 years	-22.29%	-42.04%	+19.75%
Current Drawdown Current decline from peak	-0.05%	-9.36%	+9.31%
Average Drawdown Average peak-to-trough decline	-1.09%	-9.01%	+7.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	5.75%	-4.87%

Volatility

SRLN vs. EFR - Volatility Comparison

The current volatility for State Street Blackstone Senior Loan ETF (SRLN) is 0.66%, while Eaton Vance Senior Floating-Rate Trust (EFR) has a volatility of 1.22%. This indicates that SRLN experiences smaller price fluctuations and is considered to be less risky than EFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRLN	EFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	1.22%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	6.59%	-3.87%
Volatility (1Y) Calculated over the trailing 1-year period	2.93%	7.84%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.92%	13.06%	-9.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.06%	14.91%	-8.85%

Dividends

SRLN vs. EFR - Dividend Comparison

SRLN's dividend yield for the trailing twelve months is around 7.41%, less than EFR's 8.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFR Eaton Vance Senior Floating-Rate Trust	8.72%	9.53%	9.76%	10.37%	10.39%	5.62%	6.39%	7.34%	7.46%	5.42%	5.82%	6.95%
SRLN State Street Blackstone Senior Loan ETF	7.41%	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 EFR in my portfolio?

SRLN and EFR have a correlation of 0.27, 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 EFR?

EFR has higher volatility (1.22%) compared to SRLN (0.66%). In terms of maximum drawdown, SRLN dropped -22.29% vs EFR's -60.55%.

Which has better risk-adjusted returns?

SRLN currently has the higher Sharpe Ratio (1.52 vs -0.58), 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.