JFLI vs. BALI

Last updated Jun 4, 2026

JFLI (JPMorgan Flexible Income ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - JFLI is a Global Allocation fund actively managed by JPMorgan, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, JFLI returned 21.09% vs 26.38% for BALI. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

JFLI vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Flexible Income ETF (JFLI) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFLI achieves a 9.90% return, which is significantly lower than BALI's 11.22% return.

JFLI

• 1D: -0.32%
• 1M: 3.80%
• YTD: 9.90%
• 6M: 9.51%
• 1Y: 21.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALI

• 1D: -0.41%
• 1M: 4.44%
• YTD: 11.22%
• 6M: 11.78%
• 1Y: 26.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JFLI vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025
JFLI JPMorgan Flexible Income ETF	9.90%	9.49%
BALI Blackrock Advantage Large Cap Income ETF	11.22%	11.47%

Correlation

The correlation between JFLI and BALI is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.88

The correlation between JFLI and BALI has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

JFLI vs. BALI - Sectors Allocation Comparison

Sectors	JFLI	BALI
Technology	28.4%	35.0%
Financial Services	10.4%	9.0%
Communication Services	9.8%	10.6%
Consumer Cyclical	9.3%	10.2%
Consumer Defensive	8.1%	6.1%
Industrials	7.8%	8.0%
Healthcare	7.2%	9.4%
Utilities	6.5%	1.9%
Energy	5.0%	4.3%
Real Estate	4.6%	0.9%
Basic Materials	3.1%	1.4%

Return for Risk

JFLI vs. BALI — Risk / Return Rank

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

JFLI

JFLI Risk / Return Rank: 76
JFLI Sharpe Ratio Rank: 77
JFLI Sortino Ratio Rank: 79
JFLI Omega Ratio Rank: 80
JFLI Calmar Ratio Rank: 64
JFLI Martin Ratio Rank: 79

BALI

BALI Risk / Return Rank: 82
BALI Sharpe Ratio Rank: 81
BALI Sortino Ratio Rank: 81
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 77
BALI Martin Ratio Rank: 88

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.

JFLI vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Income ETF (JFLI) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	JFLI	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.67	-0.15
Sortino ratio: Return per unit of downside risk	3.58	3.72	-0.14
Omega ratio: Gain probability vs. loss probability	1.48	1.50	-0.02
Calmar ratio: Return relative to maximum drawdown	3.17	3.95	-0.77
Martin ratio: Return relative to average drawdown	15.34	19.71	-4.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JFLI vs. BALI - Sharpe Ratio Comparison

The current JFLI Sharpe Ratio is 2.53, which is comparable to the BALI Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of JFLI and BALI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JFLI	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.67	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.72	-0.43

Drawdowns

JFLI vs. BALI - Drawdown Comparison

The maximum JFLI drawdown since its inception was -12.87%, smaller than the maximum BALI drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for JFLI and BALI.

Drawdown Indicators

	JFLI	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-12.87%	-16.65%	+3.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-6.71%	+0.04%
Current Drawdown Current decline from peak	-0.32%	-0.41%	+0.09%
Average Drawdown Average peak-to-trough decline	-1.44%	-1.63%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	1.34%	+0.04%

Volatility

JFLI vs. BALI - Volatility Comparison

JPMorgan Flexible Income ETF (JFLI) has a higher volatility of 2.35% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 1.95%. This indicates that JFLI's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFLI	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	1.95%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	6.93%	7.47%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	8.39%	9.91%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.90%	12.93%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	12.93%	-1.03%

JFLI vs. BALI - Expense Ratio Comparison

Both JFLI and BALI have an expense ratio of 0.35%.

Dividends

JFLI vs. BALI - Dividend Comparison

JFLI's dividend yield for the trailing twelve months is around 7.18%, less than BALI's 7.66% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.66%	8.51%	7.13%	2.13%
JFLI JPMorgan Flexible Income ETF	7.18%	6.81%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JFLI and BALI in my portfolio?

JFLI and BALI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JFLI or BALI?

JFLI has higher volatility (2.35%) compared to BALI (1.95%). In terms of maximum drawdown, JFLI dropped -12.87% vs BALI's -16.65%.

Which ETF is better, JFLI or BALI?

On 1-year performance, BALI leads with 26.38% vs 21.09% for JFLI. Both ETFs have the same 0.35% expense ratio. On volatility, BALI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JFLI or BALI?

Over the 1-year period, BALI has performed better with a 26.38% return vs 21.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JFLI or BALI?

JFLI and BALI have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, JFLI or BALI?

BALI has the higher dividend yield at 7.66%, compared with 7.18% for JFLI.

What is the main difference between JFLI and BALI?

JFLI is categorized as Global Allocation, while BALI is Derivative Income. They also come from different issuers: JPMorgan and BlackRock.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.67 vs 2.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.