EHLS vs. BFLX

Last updated Jul 14, 2026

EHLS (Even Herd Long Short ETF) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. EHLS charges 1.58%/yr vs 0.40%/yr for BFLX.

Performance

EHLS vs. BFLX - Performance Comparison

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

Returns By Period

EHLS

• 1D: -0.86%
• 1M: -3.66%
• 6M: 5.29%
• YTD: 11.25%
• 1Y: 18.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFLX

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

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

EHLS vs. BFLX - Yearly Performance Comparison

	2026 (YTD)
EHLS Even Herd Long Short ETF	-2.48%
BFLX iShares Flexible Equity Active ETF	0.28%

Correlation

The correlation between EHLS 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

EHLS vs. BFLX - Sectors Allocation Comparison

Sectors	EHLS	BFLX
Financial Services	14.7%	15.4%
Industrials	13.3%	12.3%
Technology	13.2%	30.3%
Energy	10.8%	2.9%
Healthcare	9.8%	7.4%
Basic Materials	8.9%	3.4%
Utilities	7.4%	3.2%
Real Estate	6.3%	1.8%
Consumer Cyclical	5.3%	11.3%
Communication Services	5.3%	7.4%
Consumer Defensive	5.0%	4.6%

Return for Risk

EHLS vs. BFLX — Risk / Return Rank

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

EHLS

EHLS Risk / Return Rank: 39
EHLS Sharpe Ratio Rank: 34
EHLS Sortino Ratio Rank: 31
EHLS Omega Ratio Rank: 33
EHLS Calmar Ratio Rank: 51
EHLS Martin Ratio Rank: 44

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.

EHLS vs. BFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Even Herd Long Short ETF (EHLS) 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.

	EHLS	BFLX	Difference
Sharpe ratio: Return per unit of total volatility	0.99	—	—
Sortino ratio: Return per unit of downside risk	1.39	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	2.04	—	—
Martin ratio: Return relative to average drawdown	5.68	—	—

Drawdowns

EHLS vs. BFLX - Drawdown Comparison

The maximum EHLS drawdown since its inception was -18.96%, which is greater than BFLX's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for EHLS and BFLX.

Drawdown Indicators

	EHLS	BFLX	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-3.85%	-15.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	—	—
Current Drawdown Current decline from peak	-5.23%	-2.47%	-2.76%
Average Drawdown Average peak-to-trough decline	-4.38%	-1.32%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	—	—

Volatility

Volatility by Period

	EHLS	BFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.80%	14.58%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	14.58%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	14.58%	+4.97%

EHLS vs. BFLX - Expense Ratio Comparison

EHLS has a 1.58% expense ratio, which is higher than BFLX's 0.40% expense ratio.

Dividends

EHLS vs. BFLX - Dividend Comparison

Neither EHLS nor BFLX has paid dividends to shareholders.

Position	TTM	2025	2024
BFLX iShares Flexible Equity Active ETF	0.00%	0.00%	0.00%
EHLS Even Herd Long Short ETF	0.00%	0.00%	1.03%

Frequently Asked Questions

Can I hold both EHLS and BFLX in my portfolio?

EHLS 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, EHLS 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, EHLS or BFLX?

BFLX is cheaper with a 0.40% expense ratio, compared with 1.58% for EHLS.

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

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

What is the main difference between EHLS and BFLX?

They also come from different issuers: N/A and iShares. Their fees differ too: 1.58% for EHLS and 0.40% for BFLX.