BKLC vs SPY
BNY Mellon US Large Cap Core Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
BKLC has a lower expense ratio. SPY delivered stronger 1-year returns. BKLC offers more diversification with 511 holdings.
Side-by-Side Comparison
| Metric | BKLC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.09% | |
| AUM | $5.8B | $814.4B | |
| Dividend Yield | 1.60% | 1.01% | |
| Holdings | 511 | 505 | |
| YTD Return | -62.36% | +12.87% | |
| 1Y Return | -59.64% | +21.13% | |
| 3Y Return (annualized) | -15.64% | +20.86% | |
| 5Y Return (annualized) | -9.35% | +12.69% | |
| Volatility (annualized) | 31.4% | 15.3% | |
| Max Drawdown | -68.0% | -56.5% | |
| Fund Family | BNY Mellon Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 7, 2020 | Jan 22, 1993 |
BKLC vs SPY Performance
BNY Mellon US Large Cap Core Equity ETF (BKLC) is a ETF from BNY Mellon Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BKLC returned -59.64% while SPY returned +21.13%. Year to date, BKLC is down 62.36% versus a gain of 12.87% for SPY.
Over three years, BKLC compounded at -15.64% per year against +20.86% for SPY; over five years the annualized figures are -9.35% and +12.69% respectively. Across the full 6-year window we track, SPY has the edge at +8.80% annualized vs +0.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BKLC has been the more volatile fund, with annualized monthly volatility of 31.4% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -68.0% for BKLC and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BKLC charges 0.00% per year while SPY charges 0.09%. On a $10,000 position that is $0 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, BKLC currently yields 1.60% against 1.01% for SPY.
Holdings Overlap
BKLC and SPY share 412 holdings out of 585 unique holdings combined, representing a 94.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, BKLC or SPY?
BKLC has an expense ratio of 0.00% while SPY charges 0.09%. BKLC is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, BKLC or SPY?
Over the past year BKLC returned -59.64% vs +21.13% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), BKLC annualized +0.13% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, BKLC or SPY?
BKLC has been the more volatile fund at 31.4% annualized versus 15.3% for SPY. Worst drawdown: BKLC -68.0% vs SPY -56.5%.
Should I hold both BKLC and SPY?
BKLC and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BKLC and SPY?
BKLC and SPY share 412 common holdings with a 94.5% weight overlap. Combined, they hold 585 unique securities.
Which pays a higher dividend, BKLC or SPY?
BKLC yields 1.60% while SPY yields 1.01%, so BKLC currently pays the higher dividend yield.
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