  As more exoplanets are being discovered around ultracool dwarfs,
understanding their magnetic activity -- and the implications for habitability
-- is of prime importance. To find stellar flares and photometric signatures
related to starspots, continuous monitoring is necessary, which can be achieved
with spaceborn observatories like the Transiting Exoplanet Survey Satellite
(TESS). We present an analysis of TRAPPIST-1 like ultracool dwarfs with TESS
full-frame image photometry from the first two years of the primary mission. A
volume-limited sample up to 50 pc is constructed consisting of 339 stars closer
than 0.5 mag to TRAPPIST-1 on the Gaia colour-magnitude diagram. The 30-min
cadence TESS light curves of 248 stars were analysed, searching for flares and
rotational modulation caused by starspots. The composite flare frequency
distribution of the 94 identified flares shows a power law index similar to
TRAPPIST-1, and contains flares up to $E_\mathrm{TESS} = 3 \times 10^{33}$ erg.
Rotational periods shorter than 5 days were determined for 42 stars, sampling
the regime of fast rotators. The ages of 88 stars from the sample were
estimated using kinematic information. A weak correlation between rotational
period and age is observed, which is consistent with magnetic braking.
