MFLX vs HFEQ
Comparison between FIRST TRUST FLEXIBLE MUNICIPAL HIGH INCOME ETF (MFLX, ETF) and UNLIMITED HFEQ EQUITY LONG/SHORT ETF (HFEQ, ETF).
MFLX vs HFEQ - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
MFLX
$19M
HFEQ
$19M
Expense Ratio
Winner
MFLX
0.75%
HFEQ
0.96%
Max Drawdown
MFLX
29.72%
Winner
HFEQ
13.58%
Sharpe Ratio
Winner
MFLX
1.21
HFEQ
1.14
5Y Beta
Winner
MFLX
-0.05
HFEQ
1.58
5Y Dividends CAGR
MFLX
1.25%
HFEQ
N/A
MFLX vs HFEQ - Historical Returns
Returns include dividend reinvestment.
1M
Winner
MFLX
+1.03%
HFEQ
-0.19%
3M
MFLX
+1.30%
Winner
HFEQ
+5.03%
6M
MFLX
+3.63%
Winner
HFEQ
+9.07%
1Y
MFLX
+8.70%
Winner
HFEQ
+26.33%
5Y(CAGR)
MFLX
-0.06%
HFEQ
N/A
10Y(CAGR)
MFLX
+2.13%
HFEQ
N/A
Max(CAGR)
MFLX
+2.13%
Winner
HFEQ
+30.04%
MFLX vs HFEQ - Annual Returns (2016 - 2026)
Returns include dividend reinvestment.
| Year | MFLX | HFEQ |
|---|---|---|
| 2026 | +3.03% | +8.54% |
| 2025 | +4.12% | +14.87% |
| 2024 | +4.73% | N/A |
| 2023 | +8.91% | N/A |
| 2022 | -19.65% | N/A |
| 2021 | +8.96% | N/A |
| 2020 | +7.00% | N/A |
| 2019 | +15.75% | N/A |
| 2018 | -4.71% | N/A |
| 2017 | +5.57% | N/A |
| 2016 | -7.63% | N/A |
MFLX vs HFEQ Drawdown Comparison
The maximum drawdown for MFLX was -26.76%, occurring on Mar 18, 2020. Recovery took 193 trading sessions.
The maximum drawdown for HFEQ was -12.46%, occurring on Mar 30, 2026. Recovery took 49 trading sessions.
The current MFLX drawdown is -3.94%. The current HFEQ drawdown is -3.97%.
| Rank | MFLX | HFEQ |
|---|---|---|
| #1 | -26.76% Feb 24, 2020 - Nov 25, 2020 | -12.46% Feb 25, 2026 - May 6, 2026 |
| #2 | -25.88% Aug 24, 2021 - Oct 27, 2022 | -10.71% Oct 27, 2025 - Jan 5, 2026 |
| #3 | -10.10% Sep 29, 2016 - Mar 26, 2019 | -7.12% Oct 6, 2025 - Oct 24, 2025 |
| #4 | -4.45% Feb 11, 2021 - Apr 14, 2021 | -5.24% May 6, 2026 - May 26, 2026 |
| #5 | -3.82% Sep 4, 2019 - Dec 11, 2019 | -3.97% Jun 4, 2026 - Jun 5, 2026 |
| #6 | -1.54% Jul 12, 2021 - Jul 28, 2021 | -2.72% Jul 23, 2025 - Aug 8, 2025 |
| #7 | -1.42% May 10, 2021 - May 26, 2021 | -2.36% Feb 20, 2026 - Feb 25, 2026 |
| #8 | -1.05% Dec 11, 2020 - Dec 31, 2020 | -2.20% Jan 28, 2026 - Feb 6, 2026 |
| #9 | -0.81% Apr 15, 2019 - May 2, 2019 | -2.15% Aug 22, 2025 - Sep 9, 2025 |
| #10 | -0.73% Dec 31, 2020 - Jan 19, 2021 | -2.12% Feb 11, 2026 - Feb 20, 2026 |
| #11 | -0.71% Dec 26, 2019 - Jan 7, 2020 | -2.10% Jan 12, 2026 - Jan 22, 2026 |
| #12 | -0.69% Jun 10, 2021 - Jun 28, 2021 | -1.81% Aug 13, 2025 - Aug 22, 2025 |
| #13 | -0.69% Dec 11, 2019 - Dec 26, 2019 | -1.34% Sep 22, 2025 - Sep 30, 2025 |
| #14 | -0.67% Aug 4, 2021 - Aug 10, 2021 | -1.22% Jan 6, 2026 - Jan 9, 2026 |
| #15 | -0.62% Aug 20, 2019 - Aug 28, 2019 | -1.09% Jan 22, 2026 - Jan 27, 2026 |
Correlation
Correlation between MFLX and HFEQ is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (2016 - 2026)
MFLX vs HFEQ dividend yield comparison.
| Year | MFLX | HFEQ |
|---|---|---|
| 2026 | 1.75% | 0.00% |
| 2025 | 4.06% | 10.55% |
| 2024 | 3.81% | 0.00% |
| 2023 | 3.65% | 0.00% |
| 2022 | 4.27% | 0.00% |
| 2021 | 3.69% | 0.00% |
| 2020 | 3.21% | 0.00% |
| 2019 | 2.94% | 0.00% |
| 2018 | 3.74% | 0.00% |
| 2017 | 3.80% | 0.00% |
| 2016 | 0.98% | 0.00% |
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