HELS vs. BFLX

Last updated Jul 17, 2026

HELS (Hedgeye 130/30 Equity ETF) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. HELS charges 0.70%/yr vs 0.40%/yr for BFLX.

Performance

HELS vs. BFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye 130/30 Equity ETF (HELS) and iShares Flexible Equity Active ETF (BFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HELS

• 1D: -0.03%
• 1M: 2.03%
• 6M: -3.29%
• YTD: 0.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFLX

• 1D: -0.43%
• 1M: -1.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HELS vs. BFLX - Yearly Performance Comparison

	2026 (YTD)
HELS Hedgeye 130/30 Equity ETF	2.58%
BFLX iShares Flexible Equity Active ETF	0.50%

Correlation

The correlation between HELS and BFLX is 0.60, 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	0.60

Return for Risk

HELS vs. BFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye 130/30 Equity ETF (HELS) 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.

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

Drawdowns

HELS vs. BFLX - Drawdown Comparison

The maximum HELS drawdown since its inception was -13.60%, which is greater than BFLX's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for HELS and BFLX.

Drawdown Indicators

	HELS	BFLX	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-3.85%	-9.75%
Current Drawdown Current decline from peak	-5.84%	-2.25%	-3.59%
Average Drawdown Average peak-to-trough decline	-5.71%	-1.37%	-4.34%

Volatility

Volatility by Period

	HELS	BFLX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	14.09%	+2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	14.09%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	14.09%	+2.01%

HELS vs. BFLX - Expense Ratio Comparison

HELS has a 0.70% expense ratio, which is higher than BFLX's 0.40% expense ratio.

Dividends

HELS vs. BFLX - Dividend Comparison

HELS's dividend yield for the trailing twelve months is around 0.02%, while BFLX has not paid dividends to shareholders.

Position	TTM	2025
BFLX iShares Flexible Equity Active ETF	0.00%	0.00%
HELS Hedgeye 130/30 Equity ETF	0.02%	0.02%

Frequently Asked Questions

Can I hold both HELS and BFLX in my portfolio?

HELS and BFLX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HELS 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, HELS or BFLX?

BFLX is cheaper with a 0.40% expense ratio, compared with 0.70% for HELS.

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

HELS has the higher dividend yield at 0.02%, compared with 0.00% for BFLX.

What is the main difference between HELS and BFLX?

They also come from different issuers: Hedgeye and iShares. Their fees differ too: 0.70% for HELS and 0.40% for BFLX.