FTLS vs. BFLX
FTLS (First Trust Long/Short Equity ETF) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. Both are actively managed. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FTLS charges 1.38%/yr vs 0.40%/yr for BFLX.
Performance
FTLS vs. BFLX - Performance Comparison
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Returns By Period
FTLS
- 1D
- 0.11%
- 1M
- 1.58%
- 6M
- 4.49%
- YTD
- 6.14%
- 1Y
- 14.52%
- 3Y*
- 13.17%
- 5Y*
- 10.08%
- 10Y*
- 9.44%
- ALL TIME*
- 9.00%
BFLX
- 1D
- 0.71%
- 1M
- 0.99%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.04M | $46.24M | $34.24M | |
| $8.46M | $8.04M | $9.00M |
FTLS vs. BFLX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FTLS First Trust Long/Short Equity ETF | 1.69% |
BFLX iShares Flexible Equity Active ETF | 0.94% |
Correlation
The correlation between FTLS and BFLX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 20, 2026 | 0.73 |
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Return for Risk
FTLS vs. BFLX — Risk / Return Rank
FTLS
BFLX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FTLS vs. BFLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) 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.
| FTLS | BFLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | — | — |
| Martin ratioReturn relative to average drawdown | 11.71 | — | — |
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Drawdowns
FTLS vs. BFLX - Drawdown Comparison
The maximum FTLS drawdown since its inception was -20.54%, which is greater than BFLX's maximum drawdown of -4.55%. Use the drawdown chart below to compare losses from any high point for FTLS and BFLX.
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Drawdown Indicators
| FTLS | BFLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -4.55% | -15.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.54% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | -1.82% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -1.66% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | — | — |
Volatility
FTLS vs. BFLX - Volatility Comparison
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Volatility by Period
| FTLS | BFLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.50% | 14.68% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.53% | 14.68% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 14.68% | -3.45% |
FTLS vs. BFLX - Expense Ratio Comparison
FTLS has a 1.38% expense ratio, which is higher than BFLX's 0.40% expense ratio.
Dividends
FTLS vs. BFLX - Dividend Comparison
FTLS's dividend yield for the trailing twelve months is around 0.88%, 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% |
FTLS First Trust Long/Short Equity ETF | 0.88% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
Frequently Asked Questions
FTLS and BFLX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BFLX is cheaper with a 0.40% expense ratio, compared with 1.38% for FTLS.
FTLS has the higher dividend yield at 0.88%, compared with 0.00% for BFLX.
They also come from different issuers: First Trust and iShares. Their fees differ too: 1.38% for FTLS and 0.40% for BFLX.
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