BKLC vs FEX: Grades, Fees and Holdings Compared

BNY Mellon US Large Cap Core Equity ETF

BKLCANYSE Arca

First Trust Large Cap Core AlphaDEX Fund

FEXBNasdaq

Overlap

33.6%by weight

Expense ratio

BKLC −0.57pt a year

BKLC0.00%FEX0.57%

Avg volume · 30D

BKLC 28.9×the volume

BKLC628KFEX21.8K

5Y return · a year

BKLC +1.7pt

BKLC+11.8%FEX+10.1%

BKLC vs FEX Performance

Oct 29, 2021 – Oct 30, 2026

+74.7%BKLC+62.1%FEX

Expense ratio: BKLC 0.00%, better; FEX 0.57%
Fund size: BKLC $6.88B; FEX $1.6B
1Y total return: BKLC +11.2%; FEX +18.8%, better
Yield (12M): BKLC No data; FEX 1.00%
Holdings: BKLC 504; FEX 376
Avg volume (30D): BKLC 628K sh, better; FEX 21.8K sh
NAV per share: BKLC $48.23; FEX $137.55
52W range

ETF.net Grade

Pillar letters and Scores for BKLC, FEX, with each pillar’s weight
Pillar	BKLC	FEX
Cost30% weight	A100Higher	F18
Mission25% weight	A100Higher	A86
Risk15% weight	C53	B59Higher
Tradability15% weight	B66	A79Higher
Holdings10% weight	B61	A88Higher
Durability5% weight	A73	A81Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. BKLC and FEX are both graded against the same 29 US Large-Cap funds, so their Grades compare head to head.

US Large-Cap⁠

Category · 29 funds

See all 29 ›

BKLC ranks 2nd and FEX 16th of 29 funds in the US Large-Cap Category.

Rank 1ASCHXSchwab U.S. Large-Cap ETFScore 83
Rank 2ABKLCBNY Mellon US Large Cap Core Equity ETFScore 82
Rank 3AEPSWisdomTree U.S. LargeCap FundScore 80
Rank 14BXMAGLarge Cap Ex-Mag 7 ETFScore 61
Rank 16BFEXFirst Trust Large Cap Core AlphaDEX FundScore 60
Rank 17BDSPYTema S&P 500 Historical Weight ETF StrategyScore 59

Our read on each fund

ETF.net Research

BKLCABNY Mellon US Large Cap Core Equity ETF

FEXBFirst Trust Large Cap Core AlphaDEX Fund

In short

BKLC BNY launched BKLC in April 2020 as one of the first US stock ETFs with a 0.00% fee, no waiver, no expiration date. It still charges nothing to hold roughly 500 large US companies, while the typical fund in its peer group charges 0.14%.

FEX Smart beta before anyone called it that. Since 2007, FEX has ranked the 500 biggest US stocks on growth and value metrics, kept the top 375, and weighted them by rank instead of size. An index fund that refuses to just be the market.

Stated mandate

BKLC The fund seeks to track the performance of the Solactive GBS United States 500 Index TR.

FEX The fund seeks to generally match, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX Large Cap Core Index. It normally invests at least 90% of net assets in index securities and uses an indexing approach to replicate the index.

Why people hold it

BKLC The fee is zero, not 'nearly zero.' No management fee and no waiver waiting to expire, against a 0.14% median in its large-cap peer group.prnewswire.com sec.gov
Even the discount giants charge something: SCHX and VV at 0.03%, VONE at 0.06%. BKLC's expense line reads 0.00%.
Boring by design: a rules-based basket of about 500 large US stocks tracking the Solactive GBS United States 500 Index, and the tracking has been tight.
Not a novelty product. It is a multi-billion-dollar fund run by BNY, and it pays distributions quarterly.

FEX Weighting by rank, not size: the top scorers are split into quintiles and equal-weighted inside each, so the largest companies don't automatically run the portfolio.sec.gov
Trading since May 2007, it predates most of the factor-ETF boom and has grown into a multi-billion-dollar fund, rebuilt on the same quarterly schedule throughout.sec.gov
Roughly 400 large-cap names, with the tiered weighting keeping individual positions small rather than letting a handful of giants set the tone.sec.gov

Worth knowing

BKLC Zero fee is not zero cost. You still cross the bid-ask spread, and BKLC trades at moderate volume rather than the wall-to-wall liquidity of the biggest index funds.
One country, one asset class, one size band: US large-cap stocks. No bonds, no international, no small caps.
It opened in April 2020, so its live record is shorter than large-cap index rivals that have been running for decades.prnewswire.com

FEX At 0.57% it runs well above the roughly 0.20% typical for large-cap core, and plain cap-weighted rivals like SCHX (0.03%) and VONE (0.06%) charge a sliver of that.
Rebuilding the portfolio every quarter creates real turnover, which can mean more taxable gains in a brokerage account than a buy-and-hold index fund.sec.gov
It trades thinly next to the household-name index funds in the category, so bid-ask spreads carry more weight on bigger orders.

Full BKLC profile⁠

Full FEX profile⁠

BKLC vs FEX Holdings

How BKLC and FEX differ

Overlap by weight

33.6%

Shared holdings make up 87.7% of FEX and 81.3% of BKLC.

Level by level

Holdings332 in both33.6%
Sector11 Sectors74.4%
Countryby domicile98.6%
Asset classEquity100%

Sector

Sector weights in BKLC and FEX, widest gap first
Sector	More in BKLCMore in FEX	BKLC	FEX
Technology	BKLC +18.8 points	40.2%	21.4%
Industrials	FEX +8.2 points	7.8%	16.0%
Communication	BKLC +5.9 points	10.1%	4.2%
Utilities	FEX +4.9 points	1.8%	6.7%
Energy	FEX +4.0 points	3.5%	7.5%
Financials	FEX +3.3 points	10.9%	14.2%
Real Estate	FEX +2.2 points	1.5%	3.7%
Materials	FEX +1.2 points	1.7%	2.9%
Health Care	FEX +1.0 points	9.4%	10.4%
Consumer Discretionary	BKLC +0.9 points	8.8%	7.9%
Consumer Staples	FEX +0.9 points	4.2%	5.0%

Country, concentration and asset class

Country by domicile

Country weights in BKLC and FEX, widest gap first
Country	More in BKLCMore in FEX	BKLC	FEX
United States	BKLC +1.2 points	99.3%	98.1%
Other countries (7)	FEX +1.2 points	0.7%	1.9%

Concentration

Weight in the 10 largest Holdings

BKLC36.9%
FEX5.3%

Securities held

BKLC503
FEX375

Asset class

BKLC: Equity
FEX: Equity

Holdings

Only in BKLC171
In both332
Only in FEX43

Only in BKLC

171 securities, 18.7% of BKLC by weight

Alphabet Inc-Cl C2.16%
Tesla Inc1.87%
Walmart Inc0.82%
Costco Wholesale Corp0.69%
Netflix Inc0.40%
Thermo Fisher Scientific Inc0.39%
Intl Business Machines Corp0.37%
Linde PLC0.36%
Oracle Corp0.34%
BlackRock Inc0.28%
Mcdonald's Corp0.27%
Nextera Energy Inc0.26%
Deere & Co0.26%
Tjx Companies Inc0.23%
Intuitive Surgical Inc0.23%
Schwab (Charles) Corp0.22%
Boeing Co/The0.20%
S&P Global Inc0.20%
Altria Group Inc0.20%
Uber Technologies Inc0.20%
Prologis Inc0.19%
Automatic Data Processing0.18%
Mckesson Corp0.18%
Booking Holdings Inc0.18%
Cme Group Inc0.17%
Duke Energy Corp0.16%
Stryker Corp0.15%
Corning Inc0.14%
Waste Management Inc0.14%
Cadence Design Sys Inc0.14%
Elevance Health Inc0.14%
Trane Technologies PLC0.14%
Williams Cos Inc0.14%
Synopsys Inc0.13%
Space Exploration Techn-Cl A0.13%
American Tower Corp0.13%
Blackstone Inc0.13%
Illinois Tool Works0.12%
Howmet Aerospace Inc0.12%
Norfolk Southern Corp0.12%
Sherwin-Williams Co/The0.12%
Mercadolibre Inc0.12%
Royal Caribbean Cruises Ltd0.11%
Colgate-Palmolive Co0.11%
Air Products & Chemicals Inc0.11%
O'reilly Automotive Inc0.11%
Transdigm Group Inc0.10%
Arthur J Gallagher & Co0.10%
Cummins Inc0.10%
Digital Realty Trust Inc0.10%

Only in FEX

43 securities, 12.0% of FEX by weight

PTC Inc.0.60%
Ovintiv Inc.0.54%
Permian Resources Corp.0.53%
Leidos Holdings, Inc.0.50%
SharkNinja Inc.0.49%
Fiserv, Inc.0.47%
HF Sinclair Corp.0.46%
CF Industries Holdings, Inc.0.46%
Medpace Holdings, Inc.0.45%
Guardant Health, Inc.0.43%
Annaly Capital Management, Inc.0.41%
Ball Corporation0.41%
Jones Lang LaSalle Incorporated0.40%
Tenet Healthcare Corporation0.37%
Gen Digital Inc.0.34%
Bunge Global S.A.0.31%
Best Buy Co., Inc.0.28%
Viatris Inc.0.28%
IDEX Corporation0.26%
News Corporation (Class A)0.26%
W.P. Carey Inc.0.25%
Nordson Corporation0.25%
Snap-on Incorporated0.25%
Nutanix, Inc. (Class A)0.24%
Jazz Pharmaceuticals Plc0.24%
Unity Software Inc.0.24%
Sitime Corporation0.23%
Performance Food Group Company0.18%
Steris Plc0.18%
Elevance Health Inc.0.18%
East West Bancorp, Inc.0.18%
Franklin Templeton, Inc.0.17%
ITT Inc.0.17%
TD SYNNEX Corporation0.16%
MACOM Technology Solutions Holdings, Inc.0.14%
Lattice Semiconductor Corporation0.13%
US Foods Holding Corp.0.10%
Flutter Entertainment Plc0.09%
Becton, Dickinson and Company0.09%
Liberty Media Corporation (Class C)0.09%
WESCO International, Inc.0.08%
Trane Technologies plc0.08%
Coeur Mining, Inc.0.06%

Weight gaps

The 100 widest of 332 Holdings in both funds.

Holding weights in BKLC and FEX, widest gap first
Holding	More in BKLCMore in FEX	BKLC	FEX
Apple IncAAPL	BKLC +7.18 points	7.53%	0.35%
NVIDIA CorpNVDA	BKLC +6.90 points	7.28%	0.38%
Microsoft CorpMSFT	BKLC +5.67 points	5.84%	0.17%
Amazon.com IncAMZN	BKLC +3.20 points	3.53%	0.33%
Alphabet Inc-Cl AGOOGL	BKLC +2.30 points	2.51%	0.21%
Broadcom IncAVGO	BKLC +2.24 points	2.32%	0.08%
Meta Platforms Inc-Class AMETA	BKLC +1.77 points	2.06%	0.29%
Eli Lilly & CoLLY	BKLC +1.41 points	1.83%	0.42%
JPMorgan Chase & CoJPM	BKLC +1.28 points	1.37%	0.09%
Micron Technology IncMU	BKLC +1.18 points	1.53%	0.35%
Advanced Micro DevicesAMD	BKLC +0.90 points	1.25%	0.35%
Visa Inc-Class A SharesV	BKLC +0.85 points	1.05%	0.20%
Johnson & JohnsonJNJ	BKLC +0.83 points	1.01%	0.18%
Exxonmobil Holdings CorpXOM	BKLC +0.80 points	1.19%	0.39%
Berkshire Hathaway Inc-Cl BBRK.B	BKLC +0.69 points	1.16%	0.47%
Mastercard Inc - AMA	BKLC +0.67 points	0.77%	0.10%
AbbVie IncABBV	BKLC +0.61 points	0.80%	0.19%
Roper Technologies IncROP	FEX +0.50 points	0.07%	0.57%
Constellation Brands Inc-ASTZ	FEX +0.49 points	0.02%	0.51%
Procter & Gamble Co/ThePG	BKLC +0.48 points	0.58%	0.10%
Fidelity National Info ServFIS	FEX +0.48 points	0.02%	0.50%
UnitedHealth Group IncUNH	BKLC +0.47 points	0.56%	0.09%
Amcor PLCAMCR	FEX +0.45 points	0.03%	0.48%
Carnival Corp LtdCCL	FEX +0.45 points	0.05%	0.50%
Broadridge Financial SolutioBR	FEX +0.44 points	0.03%	0.47%
Cincinnati Financial CorpCINF	FEX +0.45 points	0.04%	0.49%
Martin Marietta MaterialsMLM	FEX +0.44 points	0.04%	0.48%
Arch Capital Group LtdACGL	FEX +0.43 points	0.06%	0.49%
Eqt CorpEQT	FEX +0.44 points	0.05%	0.49%
Cognizant Tech Solutions-ACTSH	FEX +0.43 points	0.05%	0.48%
Edison InternationalEIX	FEX +0.43 points	0.04%	0.47%
Expand Energy CorpEXE	FEX +0.43 points	0.03%	0.46%
Markel Group IncMKL	FEX +0.43 points	0.04%	0.47%
Occidental Petroleum CorpOXY	FEX +0.42 points	0.07%	0.49%
Charter Communications Inc-ACHTR	FEX +0.42 points	<0.01%	0.43%
Expeditors Intl Wash IncEXPD	FEX +0.42 points	0.04%	0.46%
P G & E CorpPCG	FEX +0.42 points	0.04%	0.46%
Pultegroup IncPHM	FEX +0.41 points	0.05%	0.46%
Hartford Insurance Group IncHIG	FEX +0.41 points	0.05%	0.46%
Fox Corp - Class AFOXA	FEX +0.41 points	0.02%	0.43%
Synchrony FinancialSYF	FEX +0.41 points	0.04%	0.45%
Applied Materials IncAMAT	BKLC +0.40 points	0.47%	0.07%
Dr Horton IncDHI	FEX +0.41 points	0.05%	0.46%
Corpay IncCPAY	FEX +0.40 points	0.04%	0.44%
American International GroupAIG	FEX +0.40 points	0.07%	0.47%
Vici Properties IncVICI	FEX +0.39 points	0.06%	0.45%
Allstate CorpALL	FEX +0.40 points	0.10%	0.50%
Devon Energy CorpDVN	FEX +0.39 points	0.09%	0.48%
Home Depot IncHD	BKLC +0.39 points	0.49%	0.10%
General ElectricGE	BKLC +0.40 points	0.48%	0.08%
Incyte CorpINCY	FEX +0.39 points	0.03%	0.42%
T Rowe Price Group IncTROW	FEX +0.39 points	0.04%	0.43%
Intel CorpINTC	BKLC +0.38 points	0.43%	0.05%
PayPal Holdings IncPYPL	FEX +0.38 points	0.08%	0.46%
Cisco Systems IncCSCO	BKLC +0.38 points	0.63%	0.25%
Eog Resources IncEOG	FEX +0.38 points	0.13%	0.51%
Okta IncOKTA	FEX +0.38 points	0.05%	0.43%
Global Payments IncGPN	FEX +0.38 points	0.03%	0.41%
Coca-Cola Co/TheKO	BKLC +0.37 points	0.56%	0.19%
Crh PLCCRH	FEX +0.37 points	0.10%	0.47%
Dollar Tree IncDLTR	FEX +0.36 points	0.04%	0.40%
First Citizens Bcshs -Cl AFCNCA	FEX +0.36 points	0.03%	0.39%
Dexcom IncDXCM	FEX +0.36 points	0.05%	0.41%
Everpure Inc-AP	FEX +0.35 points	0.06%	0.41%
The Cigna GroupCI	FEX +0.35 points	0.12%	0.47%
Travelers Cos Inc/TheTRV	FEX +0.34 points	0.13%	0.47%
Ppg Industries IncPPG	FEX +0.35 points	0.04%	0.39%
Netapp IncNTAP	FEX +0.34 points	0.06%	0.40%
Evergy IncEVRG	FEX +0.34 points	0.03%	0.37%
Copart IncCPRT	FEX +0.35 points	0.03%	0.38%
Halliburton CoHAL	FEX +0.34 points	0.05%	0.39%
Natera IncNTRA	FEX +0.34 points	0.09%	0.43%
Zimmer Biomet Holdings IncZBH	FEX +0.33 points	0.03%	0.36%
Zoetis IncZTS	FEX +0.34 points	0.05%	0.39%
Loews CorpL	FEX +0.33 points	0.03%	0.36%
Ameren CorporationAEE	FEX +0.33 points	0.05%	0.38%
West Pharmaceutical ServicesWST	FEX +0.33 points	0.05%	0.38%
Honeywell International IncHON	FEX +0.33 points	0.11%	0.44%
Lam Research CorpLRCX	BKLC +0.34 points	0.46%	0.12%
Diamondback Energy IncFANG	FEX +0.32 points	0.07%	0.39%
Consolidated Edison IncED	FEX +0.33 points	0.06%	0.39%
Ppl CorpPPL	FEX +0.32 points	0.04%	0.37%
Comcast Corp-Class ACMCSA	FEX +0.33 points	0.13%	0.46%
Eversource EnergyES	FEX +0.33 points	0.04%	0.36%
Expedia Group IncEXPE	FEX +0.32 points	0.05%	0.37%
Rtx CorpRTX	BKLC +0.32 points	0.41%	0.09%
Exelon CorpEXC	FEX +0.32 points	0.07%	0.39%
Super Micro Computer IncSMCI	FEX +0.31 points	0.03%	0.34%
Illumina IncILMN	FEX +0.32 points	0.05%	0.37%
Bank of America CorpBAC	BKLC +0.31 points	0.47%	0.16%
Nvr IncNVR	FEX +0.31 points	0.02%	0.33%
Philip Morris InternationalPM	BKLC +0.31 points	0.50%	0.19%
Ross Stores IncROST	FEX +0.31 points	0.11%	0.42%
Xcel Energy IncXEL	FEX +0.31 points	0.08%	0.39%
Nucor CorpNUE	FEX +0.30 points	0.10%	0.40%
Veeva Systems Inc-Class AVEEV	FEX +0.30 points	0.07%	0.37%
Mongodb IncMDB	FEX +0.31 points	0.04%	0.35%
Smurfit Westrock PLCSW	FEX +0.30 points	0.03%	0.33%
Merck & Co. Inc.MRK	BKLC +0.30 points	0.56%	0.26%
Caterpillar IncCAT	BKLC +0.30 points	0.43%	0.13%

All 502 BKLC holdings⁠All 375 FEX holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BKLC vs FEX Cost

Overpaying FEX vs BKLC

$11,271

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BKLC 0.00%
$0
FEX 0.57%
$11,271

Amount$10,000

Years30 years

Cost over time

BKLC 0.00%
FEX 0.57%
Overpaying

Year by year

Year	BKLC	FEX	Overpaying
10	$0	$1,023	$1,023
20	$0	$3,921	$3,921
30	$0	$11,271	$11,271

Expense ratio

0.00%BKLC, cheaper
0.57%FEX

BKLC0.00%FEX0.57%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

BKLC cheapest of 29 funds

FEX 24th cheapest of 29 funds

BKLC vs FEX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKLC No data; FEX 1.00%
Payout (12M): BKLC No data; FEX $1.38
Last payment: BKLC $0.13; FEX $0.41
Ex-dividend: BKLC Oct 1, 2026; FEX Sep 24, 2026
Paid on: BKLC Oct 6, 2026; FEX Sep 30, 2026
Frequency: BKLC Quarterly; FEX Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BKLCQuarterly · 20 paymentsAll BKLC payments⁠

FEXQuarterly · 39 paymentsAll FEX payments⁠

BKLC vs FEX Risk

Fall from peak · 5 years

BKLC
FEX

Risk facts

VolatilityStd dev, 3 years: BKLC 12.7%, betterFEX 13.1%
Return per unit of riskSharpe ratio, 3 years: BKLC 1.37, betterFEX 1.27
Worst fallMax drawdown, 5 years: BKLC −26.2%FEX −21.3%, better
Market sensitivityBeta, 5 years: BKLC 1.02FEX 0.95; Market = 1

BKLC and FEX in the news

All news⁠

Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026BKLC

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BKLC vs FEX

In short

Stated mandate

Why people hold it

Worth knowing

How BKLC and FEX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in FEX

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best S&P 500 ETF costs 0.02%. Equal weight is a different bet

How BKLC and FEX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in FEX

Weight gaps