BDMAX vs. FTLS
Compare and contrast key facts about BlackRock Global Equity Market Neutral Fund (BDMAX) and First Trust Long/Short Equity ETF (FTLS).
BDMAX is an actively managed fund by BlackRock. It was launched on Dec 20, 2012. FTLS is an actively managed fund by First Trust. It was launched on Sep 9, 2014.
Performance
BDMAX vs. FTLS - Performance Comparison
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BDMAX vs. FTLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDMAX BlackRock Global Equity Market Neutral Fund | 3.51% | 18.08% | 21.12% | 14.27% | 1.57% | 3.11% | -0.05% | -1.02% | 1.86% | 12.57% |
FTLS First Trust Long/Short Equity ETF | -0.80% | 9.09% | 18.80% | 16.94% | -5.56% | 19.65% | 2.56% | 16.16% | -4.81% | 14.41% |
Returns By Period
In the year-to-date period, BDMAX achieves a 3.51% return, which is significantly higher than FTLS's -0.80% return. Over the past 10 years, BDMAX has underperformed FTLS with an annualized return of 6.95%, while FTLS has yielded a comparatively higher 9.10% annualized return.
BDMAX
- 1D
- -0.41%
- 1M
- 0.89%
- YTD
- 3.51%
- 6M
- 6.52%
- 1Y
- 16.41%
- 3Y*
- 18.28%
- 5Y*
- 10.88%
- 10Y*
- 6.95%
FTLS
- 1D
- 1.32%
- 1M
- -1.17%
- YTD
- -0.80%
- 6M
- 0.98%
- 1Y
- 10.88%
- 3Y*
- 12.98%
- 5Y*
- 9.94%
- 10Y*
- 9.10%
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BDMAX vs. FTLS - Expense Ratio Comparison
Both BDMAX and FTLS have an expense ratio of 1.60%.
Return for Risk
BDMAX vs. FTLS — Risk / Return Rank
BDMAX
FTLS
BDMAX vs. FTLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Equity Market Neutral Fund (BDMAX) and First Trust Long/Short Equity ETF (FTLS). 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.
| BDMAX | FTLS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.54 | 1.04 | +1.50 |
Sortino ratioReturn per unit of downside risk | 3.72 | 1.56 | +2.16 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.21 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 4.83 | 1.90 | +2.92 |
Martin ratioReturn relative to average drawdown | 13.40 | 8.02 | +5.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BDMAX | FTLS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 1.04 | +1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.68 | 0.94 | +0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.21 | 0.81 | +0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.77 | +0.32 |
Correlation
The correlation between BDMAX and FTLS is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BDMAX vs. FTLS - Dividend Comparison
BDMAX's dividend yield for the trailing twelve months is around 8.64%, more than FTLS's 0.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDMAX BlackRock Global Equity Market Neutral Fund | 8.64% | 8.94% | 13.39% | 7.14% | 0.00% | 1.25% | 0.04% | 6.60% | 0.85% | 0.00% | 0.00% | 1.56% |
FTLS First Trust Long/Short Equity ETF | 0.95% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
Drawdowns
BDMAX vs. FTLS - Drawdown Comparison
The maximum BDMAX drawdown since its inception was -12.37%, smaller than the maximum FTLS drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for BDMAX and FTLS.
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Drawdown Indicators
| BDMAX | FTLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.37% | -20.54% | +8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -6.17% | +2.56% |
Max Drawdown (5Y)Largest decline over 5 years | -7.72% | -11.69% | +3.97% |
Max Drawdown (10Y)Largest decline over 10 years | -9.71% | -20.54% | +10.83% |
Current DrawdownCurrent decline from peak | -0.81% | -2.34% | +1.53% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -2.73% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.49% | -0.19% |
Volatility
BDMAX vs. FTLS - Volatility Comparison
The current volatility for BlackRock Global Equity Market Neutral Fund (BDMAX) is 1.56%, while First Trust Long/Short Equity ETF (FTLS) has a volatility of 2.93%. This indicates that BDMAX experiences smaller price fluctuations and is considered to be less risky than FTLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDMAX | FTLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 2.93% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.70% | 6.53% | -1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.91% | 10.50% | -3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.53% | 10.65% | -4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 11.31% | -5.54% |