BSL vs SPY
BSL vs SPY
Blackstone Senior Floating Rate 2027 Term Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BSL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.09% | |
| AUM | $174M | $789.1B | |
| Dividend Yield | 8.07% | 1.01% | |
| Holdings | 354 | 505 | |
| YTD Return | +0.70% | +13.10% | |
| 1Y Return | -0.06% | +22.80% | |
| 3Y Return (annualized) | +8.46% | +20.98% | |
| 5Y Return (annualized) | +3.66% | +13.20% | |
| Volatility (annualized) | 12.2% | 15.3% | |
| Max Drawdown | -57.1% | -56.5% | |
| Fund Family | The Blackstone Group Inc | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | May 26, 2010 | Jan 22, 1993 |
BSL vs SPY Performance
Blackstone Senior Floating Rate 2027 Term Fund (BSL) is a ETF from The Blackstone Group Inc and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BSL returned -0.06% while SPY returned +22.80%. Year to date, BSL is up 0.70% versus a gain of 13.10% for SPY.
Over three years, BSL compounded at +8.46% per year against +20.98% for SPY; over five years the annualized figures are +3.66% and +13.20% respectively. Across the full 16-year window we track, SPY has the edge at +8.83% annualized vs +0.10%. 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 12.2% for BSL. 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 -57.1% for BSL 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
BSL and SPY share 0 holdings out of 600 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, BSL or SPY?
Over the past year BSL returned -0.06% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), BSL annualized +0.10% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, BSL or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.2% for BSL. Worst drawdown: BSL -57.1% vs SPY -56.5%.
Should I hold both BSL and SPY?
BSL and SPY have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BSL and SPY?
BSL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 600 unique securities.
Which pays a higher dividend, BSL or SPY?
BSL yields 8.07% while SPY yields 1.01%, so BSL currently pays the higher dividend yield.
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