BFLX vs. SLV

Last updated Jul 21, 2026

BFLX (iShares Flexible Equity Active ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - BFLX is a Long-Short fund actively managed by iShares, while SLV is a Silver fund tracking the LBMA Silver Price. BFLX is actively managed, while SLV is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. BFLX charges 0.40%/yr vs 0.50%/yr for SLV.

Performance

BFLX vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Flexible Equity Active ETF (BFLX) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BFLX

• 1D: -0.47%
• 1M: -2.64%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SLV

• 1D: 0.39%
• 1M: -14.33%
• 6M: -37.08%
• YTD: -20.86%
• 1Y: 47.30%
• 3Y*: 31.21%
• 5Y*: 16.83%
• 10Y*: 10.57%
• ALL TIME*: 7.03%

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

BFLX vs. SLV - Yearly Performance Comparison

	2026 (YTD)
BFLX iShares Flexible Equity Active ETF	-0.41%
SLV iShares Silver Trust	-23.80%

Correlation

The correlation between BFLX and SLV is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 20, 2026	0.54

Return for Risk

BFLX vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFLX

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

SLV

SLV Risk / Return Rank: 28
SLV Sharpe Ratio Rank: 28
SLV Sortino Ratio Rank: 29
SLV Omega Ratio Rank: 37
SLV Calmar Ratio Rank: 25
SLV Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFLX vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Flexible Equity Active ETF (BFLX) and iShares Silver Trust (SLV). 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	SLV	Difference
Sharpe ratio: Return per unit of total volatility	—	0.78	—
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	0.91	—
Martin ratio: Return relative to average drawdown	—	1.85	—

Drawdowns

BFLX vs. SLV - Drawdown Comparison

The maximum BFLX drawdown since its inception was -3.85%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for BFLX and SLV.

Drawdown Indicators

	BFLX	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-3.85%	-76.28%	+72.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-52.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-52.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.28%	—
Current Drawdown Current decline from peak	-3.14%	-51.72%	+48.58%
Average Drawdown Average peak-to-trough decline	-1.45%	-44.67%	+43.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.64%	—

Volatility

Volatility by Period

	BFLX	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	56.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	61.24%	-47.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	36.87%	-23.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	32.18%	-18.35%

BFLX vs. SLV - Expense Ratio Comparison

BFLX has a 0.40% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

BFLX vs. SLV - Dividend Comparison

Neither BFLX nor SLV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BFLX and SLV in my portfolio?

BFLX and SLV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BFLX or SLV?

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.

Which ETF is cheaper, BFLX or SLV?

BFLX is cheaper with a 0.40% expense ratio, compared with 0.50% for SLV.

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

BFLX and SLV have nearly identical dividend yields, around 0.00%.

What is the main difference between BFLX and SLV?

BFLX is categorized as Long-Short, while SLV is Silver. Their fees differ too: 0.40% for BFLX and 0.50% for SLV.