BFLX vs. MKTN

Last updated Jun 30, 2026

BFLX (iShares Flexible Equity Active ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.39, they often move in opposite directions.

Performance

BFLX vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Flexible Equity Active ETF (BFLX) and Federated Hermes MDT Market Neutral ETF (MKTN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BFLX

• 1D: 0.76%
• 1M: -0.90%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MKTN

• 1D: -0.08%
• 1M: 0.12%
• YTD: 1.12%
• 6M: 1.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFLX vs. MKTN - Yearly Performance Comparison

	2026 (YTD)
BFLX iShares Flexible Equity Active ETF	0.36%
MKTN Federated Hermes MDT Market Neutral ETF	0.76%

Correlation

The correlation between BFLX and MKTN is -0.39, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 20, 2026	-0.39

Return for Risk

BFLX vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Flexible Equity Active ETF (BFLX) and Federated Hermes MDT Market Neutral ETF (MKTN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

BFLX vs. MKTN - Drawdown Comparison

The maximum BFLX drawdown since its inception was -3.85%, smaller than the maximum MKTN drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for BFLX and MKTN.

Drawdown Indicators

	BFLX	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-3.85%	-4.13%	+0.28%
Current Drawdown Current decline from peak	-2.39%	-0.79%	-1.60%
Average Drawdown Average peak-to-trough decline	-1.04%	-1.19%	+0.15%

Volatility

Volatility by Period

	BFLX	MKTN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.10%	6.71%	+8.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.10%	6.71%	+8.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.10%	6.71%	+8.39%

Dividends

BFLX vs. MKTN - Dividend Comparison

BFLX has not paid dividends to shareholders, while MKTN's dividend yield for the trailing twelve months is around 0.50%.

Position	TTM	2025
BFLX iShares Flexible Equity Active ETF	0.00%	0.00%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%

Frequently Asked Questions

Can I hold both BFLX and MKTN in my portfolio?

BFLX and MKTN have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, BFLX or MKTN?

MKTN has the higher dividend yield at 0.50%, compared with 0.00% for BFLX.

What is the main difference between BFLX and MKTN?

They also come from different issuers: iShares and Federated Hermes.