USLN vs. LVLN

Last updated Jun 20, 2026

USLN (iShares Broad USD Floating Rate Loan ETF) and LVLN (SPDR S&P Leveraged Loan ETF) are both Bank Loan funds - USLN tracks the Morningstar LSTA US Leveraged Loan Broad Select Index while LVLN tracks the S&P USD Select Leveraged Loan Index. Both are passively managed. At a 0.27 correlation, their price movements are largely independent. USLN charges 0.43%/yr vs 0.40%/yr for LVLN.

Performance

USLN vs. LVLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD Floating Rate Loan ETF (USLN) and SPDR S&P Leveraged Loan ETF (LVLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USLN

• 1D: 0.01%
• 1M: 0.17%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LVLN

• 1D: 0.10%
• 1M: 0.17%
• YTD: 1.13%
• 6M: 1.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USLN vs. LVLN - Yearly Performance Comparison

	2026 (YTD)
USLN iShares Broad USD Floating Rate Loan ETF	1.87%
LVLN SPDR S&P Leveraged Loan ETF	3.21%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 4, 2026	0.27

Return for Risk

USLN vs. LVLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Floating Rate Loan ETF (USLN) and SPDR S&P Leveraged Loan ETF (LVLN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

USLN vs. LVLN - Drawdown Comparison

The maximum USLN drawdown since its inception was -0.75%, smaller than the maximum LVLN drawdown of -2.34%. Use the drawdown chart below to compare losses from any high point for USLN and LVLN.

Drawdown Indicators

	USLN	LVLN	Difference
Max Drawdown Largest peak-to-trough decline	-0.75%	-2.34%	+1.59%
Current Drawdown Current decline from peak	-0.06%	-0.04%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.53%	+0.32%

Volatility

Volatility by Period

	USLN	LVLN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	2.71%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.43%	2.71%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.43%	2.71%	-0.28%

USLN vs. LVLN - Expense Ratio Comparison

USLN has a 0.43% expense ratio, which is higher than LVLN's 0.40% expense ratio.

Dividends

USLN vs. LVLN - Dividend Comparison

USLN's dividend yield for the trailing twelve months is around 1.54%, less than LVLN's 3.71% yield.

Position	TTM	2025
LVLN SPDR S&P Leveraged Loan ETF	3.71%	0.49%
USLN iShares Broad USD Floating Rate Loan ETF	1.54%	0.00%

Frequently Asked Questions

Can I hold both USLN and LVLN in my portfolio?

USLN and LVLN 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 ETF is better, USLN or LVLN?

On fees, LVLN is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USLN or LVLN?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.43% for USLN.

Which ETF pays a higher dividend yield, USLN or LVLN?

LVLN has the higher dividend yield at 3.71%, compared with 1.54% for USLN.

What is the main difference between USLN and LVLN?

USLN tracks Morningstar LSTA US Leveraged Loan Broad Select Index, while LVLN tracks S&P USD Select Leveraged Loan Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.43% for USLN and 0.40% for LVLN.