BFLX vs. TLT
BFLX (iShares Flexible Equity Active ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - BFLX is a Long-Short fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. BFLX is actively managed, while TLT is passively managed. At a 0.12 correlation, their price movements are largely independent. BFLX charges 0.40%/yr vs 0.15%/yr for TLT.
Performance
BFLX vs. TLT - Performance Comparison
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Returns By Period
BFLX
- 1D
- 0.76%
- 1M
- -0.90%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.10%
- 1M
- 2.37%
- YTD
- 2.23%
- 6M
- 1.17%
- 1Y
- 4.63%
- 3Y*
- -1.30%
- 5Y*
- -6.43%
- 10Y*
- -1.96%
BFLX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BFLX iShares Flexible Equity Active ETF | 0.36% |
TLT iShares 20+ Year Treasury Bond ETF | 5.75% |
Correlation
The correlation between BFLX and TLT is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 20, 2026 | 0.12 |
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Return for Risk
BFLX vs. TLT — Risk / Return Rank
BFLX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLT
BFLX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Flexible Equity Active ETF (BFLX) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.09 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.61 | — |
| Martin ratioReturn relative to average drawdown | — | 1.45 | — |
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Drawdowns
BFLX vs. TLT - Drawdown Comparison
The maximum BFLX drawdown since its inception was -3.85%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BFLX and TLT.
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Drawdown Indicators
| BFLX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.85% | -48.35% | +44.50% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -2.39% | -38.94% | +36.55% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -13.89% | +12.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.20% | — |
Volatility
BFLX vs. TLT - Volatility Comparison
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Volatility by Period
| BFLX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.44% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.71% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 9.53% | +5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.10% | 15.81% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.10% | 14.87% | +0.23% |
BFLX vs. TLT - Expense Ratio Comparison
BFLX has a 0.40% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
BFLX vs. TLT - Dividend Comparison
BFLX has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.48%.
| 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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.48% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
BFLX and TLT have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.40% for BFLX.
TLT has the higher dividend yield at 4.48%, compared with 0.00% for BFLX.
BFLX is categorized as Long-Short, while TLT is Government Bonds. Their fees differ too: 0.40% for BFLX and 0.15% for TLT.
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