CSM vs. BFLX

Last updated Jul 14, 2026

CSM (Proshares Large Cap Core Plus) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. CSM is passively managed, while BFLX is actively managed. A 0.75 correlation means they provide meaningful diversification when combined. CSM charges 0.45%/yr vs 0.40%/yr for BFLX.

Performance

CSM vs. BFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Large Cap Core Plus (CSM) and iShares Flexible Equity Active ETF (BFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CSM

• 1D: -0.66%
• 1M: 1.32%
• 6M: 7.25%
• YTD: 8.50%
• 1Y: 22.48%
• 3Y*: 19.76%
• 5Y*: 12.63%
• 10Y*: 13.96%

BFLX

• 1D: -1.12%
• 1M: -0.58%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSM vs. BFLX - Yearly Performance Comparison

	2026 (YTD)
CSM Proshares Large Cap Core Plus	2.78%
BFLX iShares Flexible Equity Active ETF	0.28%

Correlation

The correlation between CSM and BFLX is 0.75, 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	0.75

CSM vs. BFLX - Sectors Allocation Comparison

Sectors	CSM	BFLX
Technology	33.0%	30.3%
Financial Services	12.1%	15.4%
Consumer Cyclical	9.8%	11.3%
Industrials	9.6%	12.3%
Healthcare	9.2%	7.4%
Communication Services	8.9%	7.4%
Consumer Defensive	5.2%	4.6%
Utilities	3.9%	3.2%
Real Estate	3.6%	1.8%
Energy	2.9%	2.9%
Basic Materials	1.9%	3.4%

Return for Risk

CSM vs. BFLX — Risk / Return Rank

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

CSM

CSM Risk / Return Rank: 68
CSM Sharpe Ratio Rank: 72
CSM Sortino Ratio Rank: 71
CSM Omega Ratio Rank: 68
CSM Calmar Ratio Rank: 60
CSM Martin Ratio Rank: 68

BFLX

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

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.

CSM vs. BFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Large Cap Core Plus (CSM) and iShares Flexible Equity Active ETF (BFLX). 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.

	CSM	BFLX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.54	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	9.80	—	—

Drawdowns

CSM vs. BFLX - Drawdown Comparison

The maximum CSM drawdown since its inception was -36.11%, which is greater than BFLX's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for CSM and BFLX.

Drawdown Indicators

	CSM	BFLX	Difference
Max Drawdown Largest peak-to-trough decline	-36.11%	-3.85%	-32.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	—	—
Current Drawdown Current decline from peak	-1.28%	-2.47%	+1.19%
Average Drawdown Average peak-to-trough decline	-4.03%	-1.32%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	—	—

Volatility

Volatility by Period

	CSM	BFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	14.58%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	14.58%	+2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	14.58%	+3.78%

CSM vs. BFLX - Expense Ratio Comparison

CSM has a 0.45% expense ratio, which is higher than BFLX's 0.40% expense ratio.

Dividends

CSM vs. BFLX - Dividend Comparison

CSM's dividend yield for the trailing twelve months is around 1.04%, while BFLX has not paid dividends to shareholders.

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%
CSM Proshares Large Cap Core Plus	1.04%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%

Frequently Asked Questions

Can I hold both CSM and BFLX in my portfolio?

CSM and BFLX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSM or BFLX?

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, CSM or BFLX?

BFLX is cheaper with a 0.40% expense ratio, compared with 0.45% for CSM.

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

CSM has the higher dividend yield at 1.04%, compared with 0.00% for BFLX.

What is the main difference between CSM and BFLX?

They also come from different issuers: ProShares and iShares. Their fees differ too: 0.45% for CSM and 0.40% for BFLX.