BRLN vs SPY
iShares Floating Rate Loan Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BRLN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $54M | $789.1B | |
| Dividend Yield | 6.36% | 1.01% | |
| Holdings | 421 | 505 | |
| YTD Return | -1.94% | +13.39% | |
| 1Y Return | -0.86% | +22.52% | |
| 3Y Return (annualized) | +5.07% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 2.8% | 15.3% | |
| Max Drawdown | -3.9% | -56.5% | |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 4, 2022 | Jan 22, 1993 |
BRLN vs SPY Performance
iShares Floating Rate Loan Active ETF (BRLN) is a ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BRLN returned -0.86% while SPY returned +22.52%. Year to date, BRLN is down 1.94% versus a gain of 13.39% for SPY.
Over three years, BRLN compounded at +5.07% per year against +21.36% for SPY. Across the full 4-year window we track, SPY has the edge at +8.84% annualized vs +6.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.8% for BRLN. 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 -3.9% for BRLN and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BRLN charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, BRLN currently yields 6.36% against 1.01% for SPY.
Holdings Overlap
BRLN and SPY share 0 holdings out of 653 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BRLN or SPY?
BRLN has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, BRLN or SPY?
Over the past year BRLN returned -0.86% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BRLN annualized +6.45% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, BRLN or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.8% for BRLN. Worst drawdown: BRLN -3.9% vs SPY -56.5%.
Should I hold both BRLN and SPY?
BRLN and SPY have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BRLN and SPY?
BRLN and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 653 unique securities.
Which pays a higher dividend, BRLN or SPY?
BRLN yields 6.36% while SPY yields 1.01%, so BRLN currently pays the higher dividend yield.
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