BFLX vs. HDG
BFLX (iShares Flexible Equity Active ETF) and HDG (ProShares Hedge Replication) are both Long-Short funds. BFLX is actively managed, while HDG is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. BFLX charges 0.40%/yr vs 0.95%/yr for HDG.
Performance
BFLX vs. HDG - Performance Comparison
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Returns By Period
BFLX
- 1D
- 0.76%
- 1M
- -0.90%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDG
- 1D
- 0.11%
- 1M
- 0.55%
- YTD
- 6.89%
- 6M
- 6.56%
- 1Y
- 12.83%
- 3Y*
- 7.43%
- 5Y*
- 3.09%
- 10Y*
- 3.99%
BFLX vs. HDG - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BFLX iShares Flexible Equity Active ETF | 0.36% |
HDG ProShares Hedge Replication | 2.58% |
Correlation
The correlation between BFLX and HDG is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 20, 2026 | 0.80 |
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Return for Risk
BFLX vs. HDG — Risk / Return Rank
BFLX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HDG
BFLX vs. HDG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Flexible Equity Active ETF (BFLX) and ProShares Hedge Replication (HDG). 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.
| BFLX | HDG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.40 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.25 | — |
| Martin ratioReturn relative to average drawdown | — | 13.03 | — |
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Drawdowns
BFLX vs. HDG - Drawdown Comparison
The maximum BFLX drawdown since its inception was -3.85%, smaller than the maximum HDG drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for BFLX and HDG.
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Drawdown Indicators
| BFLX | HDG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.85% | -15.31% | +11.46% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.97% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.20% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.31% | — |
Current DrawdownCurrent decline from peak | -2.39% | -0.85% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -2.76% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.99% | — |
Volatility
BFLX vs. HDG - Volatility Comparison
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Volatility by Period
| BFLX | HDG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.95% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.33% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 6.24% | +8.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.10% | 7.24% | +7.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.10% | 7.11% | +7.99% |
BFLX vs. HDG - Expense Ratio Comparison
BFLX has a 0.40% expense ratio, which is lower than HDG's 0.95% expense ratio.
Dividends
BFLX vs. HDG - Dividend Comparison
BFLX has not paid dividends to shareholders, while HDG's dividend yield for the trailing twelve months is around 2.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFLX iShares Flexible Equity Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDG ProShares Hedge Replication | 2.37% | 2.55% | 3.50% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.51% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BFLX and HDG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BFLX is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BFLX is cheaper with a 0.40% expense ratio, compared with 0.95% for HDG.
HDG has the higher dividend yield at 2.37%, compared with 0.00% for BFLX.
They also come from different issuers: iShares and ProShares. Their fees differ too: 0.40% for BFLX and 0.95% for HDG.
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