ORR vs. BFLX
ORR (Militia Long/Short Equity ETF) and BFLX (iShares Flexible Equity Active ETF) are both Long-Short funds. Both are actively managed. A 0.55 correlation means they provide meaningful diversification when combined. ORR charges 14.19%/yr vs 0.40%/yr for BFLX.
Performance
ORR vs. BFLX - Performance Comparison
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Returns By Period
ORR
- 1D
- 0.23%
- 1M
- 0.80%
- 6M
- 4.24%
- YTD
- 8.15%
- 1Y
- 27.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BFLX
- 1D
- -0.43%
- 1M
- -1.16%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORR vs. BFLX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ORR Militia Long/Short Equity ETF | 0.99% |
BFLX iShares Flexible Equity Active ETF | 0.50% |
Correlation
The correlation between ORR and BFLX is 0.55, 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 | 0.55 |
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Return for Risk
ORR vs. BFLX — Risk / Return Rank
ORR
BFLX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ORR vs. BFLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Militia Long/Short Equity ETF (ORR) 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.
| ORR | BFLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | — | — |
| Martin ratioReturn relative to average drawdown | 6.42 | — | — |
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Drawdowns
ORR vs. BFLX - Drawdown Comparison
The maximum ORR drawdown since its inception was -9.90%, which is greater than BFLX's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for ORR and BFLX.
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Drawdown Indicators
| ORR | BFLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.90% | -3.85% | -6.05% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | — | — |
Current DrawdownCurrent decline from peak | -5.47% | -2.25% | -3.22% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -1.37% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | — | — |
Volatility
ORR vs. BFLX - Volatility Comparison
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Volatility by Period
| ORR | BFLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.32% | 14.09% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.36% | 14.09% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 14.09% | +1.27% |
ORR vs. BFLX - Expense Ratio Comparison
ORR has a 14.19% expense ratio, which is higher than BFLX's 0.40% expense ratio.
Dividends
ORR vs. BFLX - Dividend Comparison
Neither ORR nor BFLX has paid dividends to shareholders.
Frequently Asked Questions
ORR and BFLX have a correlation of 0.55, 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 14.19% for ORR.
ORR and BFLX have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Militia Investments and iShares. Their fees differ too: 14.19% for ORR and 0.40% for BFLX.
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