FLSP vs. BFLX

Last updated Jul 14, 2026

FLSP (Franklin Liberty Systematic Style Premia ETF) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.26, they often move in opposite directions. FLSP charges 0.65%/yr vs 0.40%/yr for BFLX.

Performance

FLSP vs. BFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Systematic Style Premia ETF (FLSP) and iShares Flexible Equity Active ETF (BFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLSP

• 1D: 0.51%
• 1M: 0.58%
• 6M: 3.31%
• YTD: 3.20%
• 1Y: 19.30%
• 3Y*: 9.94%
• 5Y*: 8.08%
• 10Y*: —

BFLX

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

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

FLSP vs. BFLX - Yearly Performance Comparison

	2026 (YTD)
FLSP Franklin Liberty Systematic Style Premia ETF	2.10%
BFLX iShares Flexible Equity Active ETF	0.28%

Correlation

The correlation between FLSP and BFLX is -0.26, 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	-0.26

Return for Risk

FLSP vs. BFLX — Risk / Return Rank

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

FLSP

FLSP Risk / Return Rank: 87
FLSP Sharpe Ratio Rank: 86
FLSP Sortino Ratio Rank: 88
FLSP Omega Ratio Rank: 82
FLSP Calmar Ratio Rank: 92
FLSP Martin Ratio Rank: 87

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.

FLSP vs. BFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Systematic Style Premia ETF (FLSP) 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.

	FLSP	BFLX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	—	—
Sortino ratio: Return per unit of downside risk	3.16	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	4.81	—	—
Martin ratio: Return relative to average drawdown	14.40	—	—

Drawdowns

FLSP vs. BFLX - Drawdown Comparison

The maximum FLSP drawdown since its inception was -22.75%, which is greater than BFLX's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for FLSP and BFLX.

Drawdown Indicators

	FLSP	BFLX	Difference
Max Drawdown Largest peak-to-trough decline	-22.75%	-3.85%	-18.90%
Max Drawdown (1Y) Largest decline over 1 year	-4.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.52%	—	—
Current Drawdown Current decline from peak	-0.07%	-2.47%	+2.40%
Average Drawdown Average peak-to-trough decline	-6.21%	-1.32%	-4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	—	—

Volatility

Volatility by Period

	FLSP	BFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.84%	14.58%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.37%	14.58%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.45%	14.58%	-1.13%

FLSP vs. BFLX - Expense Ratio Comparison

FLSP has a 0.65% expense ratio, which is higher than BFLX's 0.40% expense ratio.

Dividends

FLSP vs. BFLX - Dividend Comparison

FLSP's dividend yield for the trailing twelve months is around 2.57%, while BFLX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
BFLX iShares Flexible Equity Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLSP Franklin Liberty Systematic Style Premia ETF	2.57%	2.65%	1.18%	1.19%	2.18%	1.19%	8.08%

Frequently Asked Questions

Can I hold both FLSP and BFLX in my portfolio?

FLSP and BFLX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLSP 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, FLSP or BFLX?

BFLX is cheaper with a 0.40% expense ratio, compared with 0.65% for FLSP.

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

FLSP has the higher dividend yield at 2.57%, compared with 0.00% for BFLX.

What is the main difference between FLSP and BFLX?

They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.65% for FLSP and 0.40% for BFLX.