BKLC vs IWB: Grades, Fees and Holdings Compared

BNY Mellon US Large Cap Core Equity ETF

BKLCANYSE Arca

iShares Russell 1000 ETF

IWBANYSE Arca

Overlap

92.2%by weight

Expense ratio

BKLC −0.15pt a year

BKLC0.00%IWB0.15%

Avg volume · 30D

BKLC 1.2×the volume

BKLC628KIWB509K

5Y return · a year

BKLC +0.6pt

BKLC+11.8%IWB+11.2%

BKLC vs IWB Performance

Oct 29, 2021 – Oct 30, 2026

+74.7%BKLC+70.1%IWB

Expense ratio: BKLC 0.00%, better; IWB 0.15%
Fund size: BKLC $6.88B; IWB $48B
1Y total return: BKLC +11.2%; IWB +11.6%, better
Yield (12M): BKLC No data; IWB 0.92%
Holdings: BKLC 504; IWB 1027
Avg volume (30D): BKLC 628K sh, better; IWB 509K sh
NAV per share: BKLC $48.23; IWB $413.05
52W range

ETF.net Grade

Pillar letters and Scores for BKLC, IWB, with each pillar’s weight
Pillar	BKLC	IWB
Cost30% weight	A100Higher	B63
Mission25% weight	A100	A100
Risk15% weight	C53	C54Higher
Tradability15% weight	B66	A94Higher
Holdings10% weight	B61	A73Higher
Durability5% weight	A73	A91Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. BKLC and IWB 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 IWB 5th 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 4AVVVanguard Morningstar Large-Cap ETFScore 78
Rank 5AIWBiShares Russell 1000 ETFScore 77
Rank 5AVONEVanguard Russell 1000 ETFScore 77

Our read on each fund

ETF.net Research

BKLCABNY Mellon US Large Cap Core Equity ETF

IWBAiShares Russell 1000 ETF

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%.

IWB The Russell 1000 in one ticker: US large caps plus the mid-cap tier underneath them. IWB has tracked that index since 2000, making it the veteran of the group, though newer clones now chase the same benchmark for less.

Stated mandate

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

IWB The fund seeks to track the Russell 1000 Index and provides broad exposure to U.S. large- and mid-cap stocks.

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.

IWB One holding covers the Russell 1000, broad exposure to US large- and mid-cap stocks, so the megacap names and the tier below them arrive together.ishares.com
Trading since May 2000 and still actively traded, which is what keeps bid-ask spreads thin for everyday buyers.
Follows its index very closely, one of the tightest index-following records in its large-cap peer group.
A multi-billion-dollar iShares fund with a quarterly distribution schedule and no exotic structure: a plain 1940 Act ETF.

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

IWB At 0.15% a year it sits above the peer median. VONE tracks the same Russell 1000 for 0.06%, and SCHX and VV run large-cap core mandates at 0.03%.
All equity, all US. There are no bonds or overseas names inside to soften a domestic large-cap drawdown.

Full BKLC profile⁠

Full IWB profile⁠

BKLC vs IWB Holdings

How BKLC and IWB differ

Overlap by weight

92.2%

Shared holdings make up 98.7% of BKLC and 92.8% of IWB.

Level by level

Holdings482 in both92.2%
Sector11 Sectors95.3%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in BKLC and IWB, widest gap first
Sector	More in BKLCMore in IWB	BKLC	IWB
Technology	BKLC +3.4 points	40.2%	36.8%
Communication	BKLC +1.3 points	10.1%	8.8%
Financials	IWB +1.2 points	10.9%	12.1%
Industrials	IWB +1.1 points	7.8%	8.9%
Health Care	IWB +0.6 points	9.4%	10.0%
Consumer Staples	IWB +0.4 points	4.2%	4.6%
Real Estate	IWB +0.4 points	1.5%	1.9%
Energy	IWB +0.3 points	3.5%	3.8%
Materials	IWB +0.3 points	1.7%	2.0%
Consumer Discretionary	IWB +0.3 points	8.8%	9.1%
Utilities	IWB +0.2 points	1.8%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in BKLC and IWB, widest gap first
Country	More in BKLCMore in IWB	BKLC	IWB
United States	IWB +0.1 points	99.3%	99.4%
Switzerland	BKLC +0.1 points	0.3%	0.2%
Brazil	Same weight	0.1%	0.1%
China	BKLC +0.1 points	0.1%	0.0%
United Kingdom	Same weight	0.1%	0.1%
Canada	IWB +0.1 points	0.0%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
Other countries (3)	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BKLC36.9%
IWB34.5%

Securities held

BKLC503
IWB1,024

Asset class

BKLC: Equity
IWB: Equity

Holdings

Only in BKLC21
In both482
Only in IWB542

Only in BKLC

21 securities, 1.3% of BKLC by weight

Seagate Technology Holdings0.22%
Elevance Health Inc0.14%
Trane Technologies PLC0.14%
Mercadolibre Inc0.12%
Nxp Semiconductors NV0.10%
Te Connectivity PLC0.10%
Becton Dickinson and Co0.08%
Vivmark Residential0.07%
Block Inc0.07%
Dreyfus Institutional Preferred Government Money M0.04%
Amrize Ltd0.04%
Aercap Holdings NV0.04%
Net Current Assets0.04%
Steris PLC0.03%
Fiserv Inc0.03%
Bunge Global SA0.02%
Venture Global Inc-Cl A0.02%
Cerebras Systems Inc - A0.01%
Flutter Entertainment Plc-Di0.01%
Warner Music Group Corp-Cl A<0.01%
Symbotic Inc<0.01%

Only in IWB

542 securities, 7.1% of IWB by weight

Spotify Technology0.13%
Elevance Health Inc0.13%
Trane Technologies PLC0.13%
Becton Dickinson0.08%
Honeywell Aerospace Inc0.07%
Vivmark Residential0.07%
Nu Holdings Class A0.06%
Block Class A0.06%
Kenvue0.05%
Fiserv Inc0.04%
Restaurants Brands International0.04%
Guardant Health0.03%
Us Foods Holding0.03%
Steris0.03%
Viatris0.03%
Tenet Healthcare Corp0.03%
Ptc0.03%
Permian Resources Class A0.03%
Ovintiv0.03%
Roku Class A0.03%
Skyworks Solutions0.03%
Liberty Media Series C0.03%
Rubrik Class A0.03%
Cf Industries Holdings Inc0.03%
Apa0.03%
Best Buy0.03%
Brookfield Asset Management Voting0.03%
Td Synnex0.03%
Snap On Inc0.03%
East West Bancorp0.03%
Leidos Holdings0.03%
Nutanix Class A0.03%
Hf Sinclair0.03%
Itt Inc0.03%
Ball Corp0.03%
Charles River Laboratories Interna0.03%
Revvity0.03%
Reinsurance Group of America0.03%
Host Hotels & Resorts Reit0.02%
Zebra Technologies Corp Class A0.02%
Sharkninja0.02%
Idex0.02%
Exelixis Inc0.02%
Dynatrace Inc0.02%
Nordson0.02%
Api Group0.02%
Hasbro0.02%
Rb Global0.02%
Tyler Technologies0.02%
Jones Lang Lasalle0.02%

Weight gaps

The 100 widest of 482 Holdings in both funds.

Holding weights in BKLC and IWB, widest gap first
Holding	More in BKLCMore in IWB	BKLC	IWB
NVIDIA CorpNVDA	BKLC +0.44 points	7.28%	6.84%
Apple IncAAPL	BKLC +0.39 points	7.53%	7.14%
Berkshire Hathaway Inc-Cl BBRK.B	IWB +0.29 points	1.16%	1.45%
Microsoft CorpMSFT	BKLC +0.29 points	5.84%	5.55%
Alphabet Inc-Cl CGOOG	BKLC +0.27 points	2.16%	1.89%
Eli Lilly & CoLLY	BKLC +0.21 points	1.83%	1.62%
Tesla IncTSLA	BKLC +0.20 points	1.87%	1.67%
Amazon.com IncAMZN	BKLC +0.19 points	3.53%	3.34%
Alphabet Inc-Cl AGOOGL	BKLC +0.17 points	2.51%	2.34%
Broadcom IncAVGO	BKLC +0.15 points	2.32%	2.17%
Meta Platforms Inc-Class AMETA	BKLC +0.12 points	2.06%	1.94%
Micron Technology IncMU	BKLC +0.10 points	1.53%	1.43%
Exxonmobil Holdings CorpXOM	BKLC +0.09 points	1.19%	1.10%
JPMorgan Chase & CoJPM	BKLC +0.08 points	1.37%	1.29%
Advanced Micro DevicesAMD	BKLC +0.07 points	1.25%	1.18%
Johnson & JohnsonJNJ	BKLC +0.07 points	1.01%	0.94%
AbbVie IncABBV	BKLC +0.05 points	0.80%	0.75%
Chevron CorpCVX	BKLC +0.04 points	0.67%	0.63%
Visa Inc-Class A SharesV	BKLC +0.05 points	1.05%	1.00%
Kimberly-Clark CorpKMB	BKLC +0.05 points	0.10%	0.05%
Costco Wholesale CorpCOST	BKLC +0.05 points	0.69%	0.64%
Lockheed Martin CorpLMT	BKLC +0.04 points	0.23%	0.19%
Walmart IncWMT	BKLC +0.04 points	0.82%	0.78%
Morgan StanleyMS	BKLC +0.04 points	0.34%	0.30%
Procter & Gamble Co/ThePG	BKLC +0.04 points	0.58%	0.54%
Cisco Systems IncCSCO	BKLC +0.04 points	0.63%	0.59%
Merck & Co. Inc.MRK	BKLC +0.03 points	0.56%	0.53%
Wells Fargo & CoWFC	BKLC +0.03 points	0.39%	0.36%
Coca-Cola Co/TheKO	BKLC +0.04 points	0.56%	0.52%
Netflix IncNFLX	BKLC +0.03 points	0.40%	0.37%
Philip Morris InternationalPM	BKLC +0.03 points	0.50%	0.47%
Palo Alto Networks IncPANW	BKLC +0.03 points	0.45%	0.42%
General ElectricGE	BKLC +0.03 points	0.48%	0.45%
UnitedHealth Group IncUNH	BKLC +0.03 points	0.56%	0.53%
Applied Materials IncAMAT	BKLC +0.03 points	0.47%	0.44%
American Express CoAXP	BKLC +0.03 points	0.27%	0.24%
Goldman Sachs Group IncGS	BKLC +0.03 points	0.40%	0.37%
Mastercard Inc - AMA	BKLC +0.03 points	0.77%	0.74%
Lam Research CorpLRCX	BKLC +0.03 points	0.46%	0.43%
Intl Business Machines CorpIBM	BKLC +0.02 points	0.37%	0.35%
Citigroup IncC	BKLC +0.03 points	0.32%	0.29%
Caterpillar IncCAT	BKLC +0.02 points	0.43%	0.41%
Rtx CorpRTX	BKLC +0.02 points	0.41%	0.39%
BlackRock IncBLK	BKLC +0.03 points	0.28%	0.25%
Amgen IncAMGN	BKLC +0.02 points	0.38%	0.36%
Lennar Corp - B ShsLEN.B	BKLC +0.02 points	0.02%	<0.01%
Abbott LaboratoriesABT	BKLC +0.03 points	0.29%	0.26%
Linde PLCLIN	BKLC +0.02 points	0.36%	0.34%
Home Depot IncHD	BKLC +0.02 points	0.49%	0.47%
AT&T IncT	BKLC +0.02 points	0.23%	0.20%
Thermo Fisher Scientific IncTMO	BKLC +0.02 points	0.39%	0.37%
Texas Instruments IncTXN	BKLC +0.02 points	0.41%	0.39%
Sandisk CorpSNDK	BKLC +0.02 points	0.26%	0.24%
Ge Vernova IncGEV	BKLC +0.02 points	0.35%	0.33%
Union Pacific CorpUNP	BKLC +0.02 points	0.28%	0.26%
Verizon Communications IncVZ	BKLC +0.02 points	0.29%	0.27%
Crowdstrike Holdings Inc - ACRWD	BKLC +0.02 points	0.38%	0.36%
Kla CorpKLAC	BKLC +0.02 points	0.32%	0.30%
Oracle CorpORCL	BKLC +0.02 points	0.34%	0.32%
Lennar Corp-ALEN	IWB +0.02 points	<0.01%	0.03%
Walt Disney Co/TheDIS	BKLC +0.02 points	0.30%	0.28%
Schwab (Charles) CorpSCHW	BKLC +0.01 points	0.22%	0.21%
Northrop Grumman CorpNOC	BKLC +0.02 points	0.13%	0.11%
Gilead Sciences IncGILD	BKLC +0.02 points	0.32%	0.30%
Boeing Co/TheBA	BKLC +0.01 points	0.20%	0.19%
Vici Properties IncVICI	BKLC +0.02 points	0.06%	0.04%
ConocophillipsCOP	BKLC +0.02 points	0.29%	0.27%
Medtronic PLCMDT	BKLC +0.02 points	0.19%	0.17%
Marvell Technology IncMRVL	BKLC +0.01 points	0.26%	0.25%
Truist Financial CorpTFC	BKLC +0.01 points	0.10%	0.09%
Chubb LtdCB	BKLC +0.02 points	0.20%	0.18%
Deere & CoDE	BKLC +0.02 points	0.26%	0.24%
Progressive CorpPGR	BKLC +0.02 points	0.21%	0.19%
Qualcomm IncQCOM	BKLC +0.02 points	0.27%	0.25%
Automatic Data ProcessingADP	BKLC +0.01 points	0.18%	0.17%
Salesforce IncCRM	BKLC +0.02 points	0.28%	0.26%
Pepsico IncPEP	BKLC +0.01 points	0.28%	0.27%
Newmont CorpNEM	BKLC +0.02 points	0.18%	0.16%
Waste Management IncWM	BKLC +0.02 points	0.14%	0.12%
Intuitive Surgical IncISRG	BKLC +0.01 points	0.23%	0.22%
Valero Energy CorpVLO	BKLC +0.02 points	0.18%	0.16%
Duke Energy CorpDUK	BKLC +0.02 points	0.16%	0.14%
Marriott International -Cl AMAR	BKLC +0.02 points	0.14%	0.12%
Eaton Corp PLCETN	BKLC +0.01 points	0.22%	0.21%
United Parcel Service-Cl BUPS	IWB +0.02 points	0.10%	0.12%
Analog Devices IncADI	BKLC +0.02 points	0.31%	0.29%
Bristol-Myers Squibb CoBMY	BKLC +0.02 points	0.20%	0.18%
Palantir Technologies Inc-APLTR	BKLC +0.01 points	0.60%	0.59%
Arista Networks IncANET	BKLC +0.02 points	0.27%	0.25%
Amphenol Corp-Cl AAPH	BKLC +0.01 points	0.29%	0.28%
Pfizer IncPFE	BKLC +0.01 points	0.26%	0.25%
Applovin Corp-Class AAPP	BKLC +0.01 points	0.09%	0.08%
Nike Inc -Cl BNKE	BKLC +0.01 points	0.08%	0.07%
Accenture Plc-Cl AACN	BKLC +0.01 points	0.24%	0.23%
Capital One Financial CorpCOF	BKLC +0.01 points	0.19%	0.18%
Ebay IncEBAY	BKLC +0.01 points	0.08%	0.07%
Crh PLCCRH	BKLC +0.01 points	0.10%	0.09%
Pultegroup IncPHM	BKLC +0.02 points	0.05%	0.03%
Vertex Pharmaceuticals IncVRTX	BKLC +0.02 points	0.22%	0.20%
Comcast Corp-Class ACMCSA	BKLC +0.01 points	0.13%	0.12%

All 502 BKLC holdings⁠All 1,024 IWB 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 IWB Cost

Overpaying IWB vs BKLC

$3,137

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

BKLC 0.00%
$0
IWB 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

BKLC 0.00%
IWB 0.15%
Overpaying

Year by year

Year	BKLC	IWB	Overpaying
10	$0	$274	$274
20	$0	$1,071	$1,071
30	$0	$3,137	$3,137

Expense ratio

0.00%BKLC, cheaper
0.15%IWB

BKLC0.00%IWB0.15%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

BKLC cheapest of 29 funds

IWB 11th cheapest of 29 funds

BKLC vs IWB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKLC No data; IWB 0.92%
Payout (12M): BKLC No data; IWB $3.81
Last payment: BKLC $0.13; IWB $1.01
Ex-dividend: BKLC Oct 1, 2026; IWB Sep 15, 2026
Paid on: BKLC Oct 6, 2026; IWB Sep 18, 2026
Frequency: BKLC Quarterly; IWB Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BKLCQuarterly · 20 paymentsAll BKLC payments⁠

IWBQuarterly · 39 paymentsAll IWB payments⁠

BKLC vs IWB Risk

Fall from peak · 5 years

BKLC
IWB

Risk facts

VolatilityStd dev, 3 years: BKLC 12.7%IWB 12.5%, better
Return per unit of riskSharpe ratio, 3 years: BKLC 1.37IWB 1.39, better
Worst fallMax drawdown, 5 years: BKLC −26.2%IWB −25.2%, better
Market sensitivityBeta, 5 years: BKLC 1.02IWB 1.01; Market = 1

BKLC and IWB 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
Category Review
Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.
Updated Oct 16, 2026IWB

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BKLC vs IWB

In short

Stated mandate

Why people hold it

Worth knowing

How BKLC and IWB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in IWB

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

Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.

How BKLC and IWB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in IWB

Weight gaps