USA vs. SRLN
USA (Liberty All-Star Equity Fund) is a stock, while SRLN (SPDR Blackstone Senior Loan ETF) is High Yield Bonds fund tracking the Markit iBoxx USD Liquid Leveraged Loan Index. Over the past 10 years, USA returned 12.11%/yr vs 4.52%/yr for SRLN. At a 0.42 correlation, their price movements are largely independent.
Performance
USA vs. SRLN - Performance Comparison
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Returns By Period
In the year-to-date period, USA achieves a -2.12% return, which is significantly lower than SRLN's 0.68% return. Over the past 10 years, USA has outperformed SRLN with an annualized return of 12.11%, while SRLN has yielded a comparatively lower 4.52% annualized return.
USA
- 1D
- -0.51%
- 1M
- 1.22%
- YTD
- -2.12%
- 6M
- 0.11%
- 1Y
- -2.70%
- 3Y*
- 9.02%
- 5Y*
- 1.77%
- 10Y*
- 12.11%
SRLN
- 1D
- -0.12%
- 1M
- 0.26%
- YTD
- 0.68%
- 6M
- 1.43%
- 1Y
- 5.57%
- 3Y*
- 7.88%
- 5Y*
- 4.62%
- 10Y*
- 4.52%
USA vs. SRLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USA Liberty All-Star Equity Fund | -2.12% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
SRLN SPDR Blackstone Senior Loan ETF | 0.68% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
Correlation
The correlation between USA and SRLN is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2013 | 0.42 |
The correlation between USA and SRLN shifts across timeframes, from 0.42 (all time) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
USA vs. SRLN — Risk / Return Rank
USA
SRLN
USA vs. SRLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Liberty All-Star Equity Fund (USA) and SPDR Blackstone Senior Loan ETF (SRLN). 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.
| USA | SRLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.44 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 1.71 | -1.89 |
| Martin ratioReturn relative to average drawdown | -0.43 | 6.35 | -6.78 |
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
| USA | SRLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.20 | 1.94 | -2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 1.19 | -1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.75 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.70 | -0.36 |
Drawdowns
USA vs. SRLN - Drawdown Comparison
The maximum USA drawdown since its inception was -69.15%, which is greater than SRLN's maximum drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for USA and SRLN.
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Drawdown Indicators
| USA | SRLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.15% | -22.29% | -46.86% |
Max Drawdown (1Y)Largest decline over 1 year | -15.28% | -3.26% | -12.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.69% | -4.26% | -13.43% |
Max Drawdown (5Y)Largest decline over 5 years | -34.05% | -7.93% | -26.12% |
Max Drawdown (10Y)Largest decline over 10 years | -47.07% | -22.29% | -24.78% |
Current DrawdownCurrent decline from peak | -7.37% | -0.12% | -7.25% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -1.10% | -10.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.31% | 0.88% | +5.43% |
Volatility
USA vs. SRLN - Volatility Comparison
Liberty All-Star Equity Fund (USA) has a higher volatility of 2.50% compared to SPDR Blackstone Senior Loan ETF (SRLN) at 0.44%. This indicates that USA's price experiences larger fluctuations and is considered to be riskier than SRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USA | SRLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.44% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 2.64% | +7.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.45% | 2.89% | +10.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 3.91% | +16.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.55% | 6.06% | +16.49% |
Dividends
USA vs. SRLN - Dividend Comparison
USA's dividend yield for the trailing twelve months is around 11.68%, more than SRLN's 7.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USA Liberty All-Star Equity Fund | 11.68% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
USA and SRLN have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (2.50%) compared to SRLN (0.44%). In terms of maximum drawdown, USA dropped -69.15% vs SRLN's -22.29%.
SRLN currently has the higher Sharpe Ratio (1.94 vs -0.20), 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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