BKLN vs SPY
Invesco Senior Loan ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BKLN or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BKLN | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $6.3B | $823.2B |
| Dividend Yield | 6.39% | 0.99% |
| Holdings | 167 | 1,515 |
| YTD Return | +1.92% | +13.53%Best |
| 1Y Return | +4.51% | +17.47%Best |
| 3Y Return (annualized) | +6.63% | +22.36%Best |
| 5Y Return (annualized) | +5.38% | +13.21%Best |
| Volatility (annualized) | 4.7%Best | 14.2% |
| Max Drawdown | -32.2%Best | -34.1% |
| $10,000 over 5 years | $12,995 | $18,596Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Mar 3, 2011 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2011 to Oct 14, 2026 (15.6 years).
BKLN vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BKLN vs SPY Performance
Invesco Senior Loan ETF (BKLN) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BKLN returned +4.51% while SPY returned +17.47%. Year to date, BKLN is up 1.92% versus a gain of 13.53% for SPY.
Over three years, BKLN compounded at +6.63% per year against +22.36% for SPY; over five years the annualized figures are +5.38% and +13.21% respectively. Across the full 16-year window we track, SPY has the edge at +12.42% annualized vs +1.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 4.7% for BKLN. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -32.2% for BKLN and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BKLN charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, BKLN currently yields 6.39% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 97 holdings in BKLN and 504 in SPY, totalling 48.6% and 99.8% of the two funds. That is not enough of BKLN to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 97 positions we hold weights for in BKLN and 504 in SPY, against full books of 167 and 1,515.
Top Shared Holdings
| Stock | Weight in BKLN | Weight in SPY | Difference |
|---|---|---|---|
| PSKYParamount Skydance Corp | 1.15% | 0.01% | 1.14% |
You are not choosing between two funds in isolation.
Whichever of BKLN and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BKLN or SPY?
BKLN has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, BKLN or SPY?
Over the past year BKLN returned +4.51% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), BKLN annualized +1.01% vs +12.42% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BKLN or SPY?
SPY has been the more volatile fund at 14.2% annualized versus 4.7% for BKLN. Worst drawdown: BKLN -32.2% vs SPY -34.1%.
Should I hold both BKLN and SPY?
BKLN and SPY have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BKLN or SPY?
BKLN yields 6.39% while SPY yields 0.99%, so BKLN currently pays the higher dividend yield.
Is SPY better than BKLN?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.