USAF vs. BRLN

Last updated Jun 4, 2026

USAF (Atlas America Fund) and BRLN (BlackRock Floating Rate Loan ETF) are both exchange-traded funds - USAF is a Diversified Portfolio fund actively managed by Atlas, while BRLN is a Bank Loan fund actively managed by BlackRock. Both are actively managed. Over the past year, USAF returned 6.07% vs 5.10% for BRLN. At a correlation of -0.07, they often move in opposite directions. USAF charges 0.89%/yr vs 0.55%/yr for BRLN.

Performance

USAF vs. BRLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas America Fund (USAF) and BlackRock Floating Rate Loan ETF (BRLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAF achieves a 2.08% return, which is significantly higher than BRLN's 1.35% return.

USAF

• 1D: -0.37%
• 1M: -0.68%
• YTD: 2.08%
• 6M: 2.69%
• 1Y: 6.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRLN

• 1D: -0.21%
• 1M: 0.94%
• YTD: 1.35%
• 6M: 2.23%
• 1Y: 5.10%
• 3Y*: 7.36%
• 5Y*: —
• 10Y*: —

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

USAF vs. BRLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USAF Atlas America Fund	2.08%	9.09%	0.23%
BRLN BlackRock Floating Rate Loan ETF	1.35%	5.38%	0.44%

Correlation

The correlation between USAF and BRLN is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	-0.07

Return for Risk

USAF vs. BRLN — Risk / Return Rank

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

USAF

USAF Risk / Return Rank: 27
USAF Sharpe Ratio Rank: 28
USAF Sortino Ratio Rank: 25
USAF Omega Ratio Rank: 29
USAF Calmar Ratio Rank: 28
USAF Martin Ratio Rank: 25

BRLN

BRLN Risk / Return Rank: 52
BRLN Sharpe Ratio Rank: 48
BRLN Sortino Ratio Rank: 53
BRLN Omega Ratio Rank: 51
BRLN Calmar Ratio Rank: 51
BRLN Martin Ratio Rank: 57

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.

USAF vs. BRLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas America Fund (USAF) and BlackRock Floating Rate Loan ETF (BRLN). 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.

	USAF	BRLN	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.68	-0.66
Sortino ratio: Return per unit of downside risk	1.36	2.60	-1.24
Omega ratio: Gain probability vs. loss probability	1.19	1.32	-0.13
Calmar ratio: Return relative to maximum drawdown	1.37	2.56	-1.19
Martin ratio: Return relative to average drawdown	3.27	9.95	-6.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAF vs. BRLN - Sharpe Ratio Comparison

The current USAF Sharpe Ratio is 1.02, which is lower than the BRLN Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of USAF and BRLN, 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

	USAF	BRLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.68	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	2.19	-0.87

Drawdowns

USAF vs. BRLN - Drawdown Comparison

The maximum USAF drawdown since its inception was -4.46%, which is greater than BRLN's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for USAF and BRLN.

Drawdown Indicators

	USAF	BRLN	Difference
Max Drawdown Largest peak-to-trough decline	-4.46%	-3.85%	-0.61%
Max Drawdown (1Y) Largest decline over 1 year	-4.46%	-2.00%	-2.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.85%	—
Current Drawdown Current decline from peak	-3.41%	-0.21%	-3.20%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.31%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	0.51%	+1.35%

Volatility

USAF vs. BRLN - Volatility Comparison

Atlas America Fund (USAF) has a higher volatility of 1.08% compared to BlackRock Floating Rate Loan ETF (BRLN) at 0.81%. This indicates that USAF's price experiences larger fluctuations and is considered to be riskier than BRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAF	BRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.81%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	4.74%	2.24%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	6.00%	3.06%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	3.73%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	3.73%	+1.96%

USAF vs. BRLN - Expense Ratio Comparison

USAF has a 0.89% expense ratio, which is higher than BRLN's 0.55% expense ratio.

Dividends

USAF vs. BRLN - Dividend Comparison

USAF's dividend yield for the trailing twelve months is around 2.45%, less than BRLN's 6.35% yield.

Position	TTM	2025	2024	2023	2022
BRLN BlackRock Floating Rate Loan ETF	6.35%	6.50%	7.87%	9.06%	1.48%
USAF Atlas America Fund	2.45%	2.50%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USAF and BRLN in my portfolio?

USAF and BRLN have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAF or BRLN?

USAF has higher volatility (1.08%) compared to BRLN (0.81%). In terms of maximum drawdown, USAF dropped -4.46% vs BRLN's -3.85%.

Which ETF is better, USAF or BRLN?

On 1-year performance, USAF leads with 6.07% vs 5.10% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, BRLN has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USAF or BRLN?

Over the 1-year period, USAF has performed better with a 6.07% return vs 5.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USAF or BRLN?

BRLN is cheaper with a 0.55% expense ratio, compared with 0.89% for USAF.

Which ETF pays a higher dividend yield, USAF or BRLN?

BRLN has the higher dividend yield at 6.35%, compared with 2.45% for USAF.

What is the main difference between USAF and BRLN?

USAF is categorized as Diversified Portfolio, while BRLN is Bank Loan. They also come from different issuers: Atlas and BlackRock. Their fees differ too: 0.89% for USAF and 0.55% for BRLN.

Which has better risk-adjusted returns?

BRLN currently has the higher Sharpe Ratio (1.68 vs 1.02), 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.