BKLC vs NBCR: Grades, Fees and Holdings Compared

BNY Mellon US Large Cap Core Equity ETF

BKLCANYSE Arca

Neuberger Berman Core Equity ETF

NBCRCNYSE Arca

Overlap

68.5%by weight

Expense ratio

BKLC −0.52pt a year

BKLC0.00%NBCR0.52%

Avg volume · 30D

BKLC 18.6×the volume

BKLC628KNBCR33.8K

BKLC vs NBCR Performance

Oct 31, 2025 – Oct 30, 2026

+11.2%BKLC+7.5%NBCR

Expense ratio: BKLC 0.00%, better; NBCR 0.52%
Fund size: BKLC $6.88B; NBCR $850M
1Y total return: BKLC +11.2%, better; NBCR +7.5%
Yield (12M): BKLC No data; NBCR 0.42%
Holdings: BKLC 504; NBCR 210
Avg volume (30D): BKLC 628K sh, better; NBCR 33.8K sh
NAV per share: BKLC $48.23; NBCR $34.41
52W range

ETF.net Grade

Pillar letters and Scores for BKLC, NBCR, with each pillar’s weight
Pillar	BKLC	NBCR
Cost30% weight	A100Higher	F21
Mission25% weight	A100	Not scored
Risk15% weight	C53Higher	C40
Tradability15% weight	B66Higher	B65
Holdings10% weight	B61	B67Higher
Durability5% weight	A73Higher	B58

Rank among US Large-Cap funds

How we build Categories ›

Same Category. BKLC and NBCR 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 NBCR 21st 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 19CRWLCRayliant NxtGen Multifactor US Equity ETFScore 46
Rank 21CNBCRNeuberger Berman Core Equity ETFScore 42
Rank 22CFLCCFederated Hermes MDT Large Cap Core ETFScore 41

Our read on each fund

ETF.net Research

BKLCABNY Mellon US Large Cap Core Equity ETF

NBCRCNeuberger Berman Core Equity 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%.

NBCR Neuberger Berman's 2024 entry into active core equity: a roughly 200-stock US portfolio built for long-term growth of capital, priced under the typical active equity fund rather than at the premium the label usually invites.

Stated mandate

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

NBCR The Fund seeks long-term growth of capital.

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.

NBCR Costs 0.52% a year, below the median for actively managed US equity ETFs. Active stock picking without the fee drag that usually comes attached.
Roughly 200 holdings: wide enough that no single name dominates, narrow enough that the manager's choices actually show up in results.
A plain mandate, plainly stated. The prospectus objective is long-term growth of capital from a mainly-equity portfolio, with no derivatives overlay or income-generation machinery bolted on.
Sits in the upper half of its active US equity peer group on our overall read, with holdings quality the standout piece.

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

NBCR Launched in 2024, so there is not yet a long record to judge the strategy through a full market cycle.
Trades thinly. Spreads can widen when volume is light, which matters more for larger orders than for small ones.
Cheaper systematic options crowd the same shelf: DFAC (0.17%), AVLC (0.15%) and DFAU (0.12%) all deliver core US equity for a fraction of the fee.

Full BKLC profile⁠

Full NBCR profile⁠

BKLC vs NBCR Holdings

How BKLC and NBCR differ

Overlap by weight

68.5%

Shared holdings make up 91.9% of NBCR and 71.1% of BKLC.

Level by level

Holdings165 in both68.5%
Countryby domicile98.3%
Asset classEquity100%

Sector

No Sector split for NBCR.

Country, concentration and asset class

Country by domicile

Country weights in BKLC and NBCR, widest gap first
Country	More in BKLCMore in NBCR	BKLC	NBCR
Canada	NBCR +1.2 points	0.0%	1.2%
United States	BKLC +1.1 points	99.3%	98.2%
Other countries (8)	BKLC +0.1 points	0.7%	0.6%

Concentration

Weight in the 10 largest Holdings

BKLC36.9%
NBCR35.5%

Securities held

BKLC503
NBCR207

Asset class

BKLC: Equity
NBCR: Equity

Holdings

Only in BKLC338
In both165
Only in NBCR42

Only in BKLC

338 securities, 28.9% of BKLC by weight

Berkshire Hathaway Inc-Cl B1.16%
Johnson & Johnson1.01%
Walmart Inc0.82%
Palantir Technologies Inc-A0.60%
Applied Materials Inc0.47%
Palo Alto Networks Inc0.45%
Amgen Inc0.38%
Intl Business Machines Corp0.37%
Linde PLC0.36%
Gilead Sciences Inc0.32%
Kla Corp0.32%
Verizon Communications Inc0.29%
Pepsico Inc0.28%
Mcdonald's Corp0.27%
American Express Co0.27%
Marvell Technology Inc0.26%
Accenture Plc-Cl A0.24%
AT&T Inc0.23%
Schwab (Charles) Corp0.22%
Eaton Corp PLC0.22%
Seagate Technology Holdings0.22%
Progressive Corp0.21%
Chubb Ltd0.20%
Altria Group Inc0.20%
Marathon Petroleum Corp0.20%
Capital One Financial Corp0.19%
Medtronic PLC0.19%
Prologis Inc0.19%
Starbucks Corp0.18%
Valero Energy Corp0.18%
Lowe's Cos Inc0.18%
Newmont Corp0.18%
Booking Holdings Inc0.18%
Cme Group Inc0.17%
Duke Energy Corp0.16%
Southern Co/The0.15%
Equinix Inc0.15%
Adobe Inc0.15%
Corning Inc0.14%
Waste Management Inc0.14%
Cadence Design Sys Inc0.14%
Emerson Electric Co0.14%
Elevance Health Inc0.14%
Marriott International -Cl A0.14%
3M Co0.14%
Trane Technologies PLC0.14%
Quanta Services Inc0.14%
Johnson Controls Internation0.14%
Cloudflare Inc - Class A0.14%
Synopsys Inc0.13%

Only in NBCR

42 securities, 8.1% of NBCR by weight

Ryan Specialty Holdings Inc Common Stock0.94%
Lionsgate Studios Corp Common Stock0.94%
Ishares Russell 1000 Etf Ishares Russell 1000 Etf0.70%
Linde PLC Common Stock0.53%
Itt Inc Common Stock0.53%
Eaton Corp PLC Common Stock0.34%
Ssc Government Mm Gvmxx0.26%
Caci International Inc Class A Common Stock0.25%
Spotify Technology SA Common Stock0.25%
Wynn Resorts Ltd Common Stock0.22%
Brinker International Inc Common Stock0.20%
Unum Group Common Stock0.20%
Avery Dennison Corp Common Stock0.19%
Check Point Software Tech Common Stock0.19%
Element Solutions Inc Common Stock0.18%
Ball Corp Common Stock0.17%
Waste Connections Inc Common Stock0.15%
Transunion Common Stock0.14%
Tenet Healthcare Corp Common Stock0.13%
Valvoline Inc Common Stock0.12%
Toll Brothers Inc Common Stock0.11%
Floor & Decor Holdings Inc A Common Stock0.11%
Chewy Inc Class A Common Stock0.11%
Trimble Inc Common Stock0.11%
Fortune Brands Innovations I Common Stock0.11%
Regency Centers Corp Reit0.10%
Cytokinetics Inc Common Stock0.08%
Ionis Pharmaceuticals Inc Common Stock0.08%
Agnico Eagle Mines Ltd Common Stock0.08%
Americold Realty Trust Inc Reit0.06%
Udr Inc Reit0.06%
American Healthcare Reit Inc Reit0.06%
Talen Energy Corp Common Stock0.06%
Eastgroup Properties Inc Reit0.06%
Warby Parker Inc Class A Common Stock0.05%
Dt Midstream Inc Common Stock0.04%
Radnet Inc Common Stock0.04%
Ugi Corp Common Stock0.03%
Align Technology Inc Common Stock0.03%
Graphic Packaging Holding Co Common Stock0.02%
Builders Firstsource Inc Common Stock0.02%
Waystar Holding Corp Common Stock0.02%

Weight gaps

The 100 widest of 165 Holdings in both funds.

Holding weights in BKLC and NBCR, widest gap first
Holding	More in BKLCMore in NBCR	BKLC	NBCR
Lam Research CorpLRCX	NBCR +0.78 points	0.46%	1.24%
Marsh & Mclennan CosMRSH	NBCR +0.73 points	0.14%	0.87%
Intel CorpINTC	NBCR +0.60 points	0.43%	1.03%
Aon Plc-Class AAON	NBCR +0.57 points	0.09%	0.66%
Broadcom IncAVGO	BKLC +0.54 points	2.32%	1.78%
Texas Instruments IncTXN	NBCR +0.49 points	0.41%	0.90%
Intercontinental Exchange InICE	NBCR +0.48 points	0.14%	0.62%
Draftkings Inc-Cl ADKNG	NBCR +0.48 points	0.01%	0.49%
Rtx CorpRTX	NBCR +0.44 points	0.41%	0.85%
Brown & Brown IncBRO	NBCR +0.42 points	0.03%	0.45%
Nvent Electric PLCNVT	NBCR +0.42 points	0.03%	0.45%
Exxonmobil Holdings CorpXOM	BKLC +0.41 points	1.19%	0.78%
Nike Inc -Cl BNKE	NBCR +0.41 points	0.08%	0.49%
Mastercard Inc - AMA	NBCR +0.39 points	0.77%	1.16%
Edwards Lifesciences CorpEW	NBCR +0.40 points	0.08%	0.48%
Costco Wholesale CorpCOST	NBCR +0.39 points	0.69%	1.08%
Visa Inc-Class A SharesV	NBCR +0.38 points	1.05%	1.43%
Apple IncAAPL	BKLC +0.33 points	7.53%	7.20%
Microsoft CorpMSFT	NBCR +0.33 points	5.84%	6.17%
Salesforce IncCRM	NBCR +0.31 points	0.28%	0.59%
Msci IncMSCI	NBCR +0.29 points	0.07%	0.36%
Advanced Micro DevicesAMD	NBCR +0.29 points	1.25%	1.54%
Yum! Brands IncYUM	NBCR +0.29 points	0.07%	0.36%
Abbott LaboratoriesABT	NBCR +0.27 points	0.29%	0.56%
Servicenow IncNOW	NBCR +0.27 points	0.17%	0.44%
Take-Two Interactive SoftwreTTWO	NBCR +0.27 points	0.05%	0.32%
Walt Disney Co/TheDIS	NBCR +0.27 points	0.30%	0.57%
O'reilly Automotive IncORLY	NBCR +0.26 points	0.11%	0.37%
Stryker CorpSYK	NBCR +0.26 points	0.15%	0.41%
Alphabet Inc-Cl CGOOG	BKLC +0.27 points	2.16%	1.89%
Snowflake IncSNOW	NBCR +0.26 points	0.16%	0.42%
Tradeweb Markets Inc-Class ATW	NBCR +0.26 points	0.02%	0.28%
Home Depot IncHD	NBCR +0.26 points	0.49%	0.75%
Woodward IncWWD	NBCR +0.25 points	0.03%	0.28%
Micron Technology IncMU	BKLC +0.24 points	1.53%	1.29%
Mondelez International Inc-AMDLZ	NBCR +0.24 points	0.13%	0.37%
Merck & Co. Inc.MRK	NBCR +0.23 points	0.56%	0.79%
Church & Dwight Co IncCHD	NBCR +0.23 points	0.04%	0.27%
Phillips 66PSX	NBCR +0.23 points	0.17%	0.40%
Devon Energy CorpDVN	NBCR +0.22 points	0.09%	0.31%
Ares Management Corp - AARES	NBCR +0.22 points	0.04%	0.26%
Howmet Aerospace IncHWM	NBCR +0.22 points	0.12%	0.34%
Lumentum Holdings IncLITE	NBCR +0.21 points	0.09%	0.30%
Pfizer IncPFE	NBCR +0.21 points	0.26%	0.47%
S&P Global IncSPGI	NBCR +0.21 points	0.20%	0.41%
Monster Beverage CorpMNST	NBCR +0.20 points	0.10%	0.30%
ConocophillipsCOP	NBCR +0.19 points	0.29%	0.48%
Crowdstrike Holdings Inc - ACRWD	NBCR +0.19 points	0.38%	0.57%
Verisk Analytics IncVRSK	NBCR +0.19 points	0.04%	0.23%
Pnc Financial Services GroupPNC	NBCR +0.19 points	0.13%	0.32%
Waters CorpWAT	NBCR +0.19 points	0.07%	0.26%
Sherwin-Williams Co/TheSHW	NBCR +0.19 points	0.12%	0.31%
General ElectricGE	NBCR +0.18 points	0.48%	0.66%
Biogen IncBIIB	NBCR +0.17 points	0.06%	0.23%
Ulta Beauty IncULTA	NBCR +0.17 points	0.04%	0.21%
Steel Dynamics IncSTLD	NBCR +0.17 points	0.05%	0.22%
Tjx Companies IncTJX	NBCR +0.17 points	0.23%	0.40%
Nasdaq IncNDAQ	NBCR +0.17 points	0.07%	0.24%
Western Digital CorpWDC	NBCR +0.16 points	0.19%	0.35%
Oracle CorpORCL	NBCR +0.16 points	0.34%	0.50%
AbbVie IncABBV	NBCR +0.16 points	0.80%	0.96%
Jacobs Solutions IncJ	NBCR +0.16 points	0.03%	0.19%
BlackRock IncBLK	NBCR +0.16 points	0.28%	0.44%
Royal Gold IncRGLD	NBCR +0.16 points	0.03%	0.19%
Lockheed Martin CorpLMT	NBCR +0.15 points	0.23%	0.38%
Danaher CorpDHR	NBCR +0.15 points	0.22%	0.37%
UnitedHealth Group IncUNH	NBCR +0.15 points	0.56%	0.71%
Bloom Energy Corp- ABE	NBCR +0.15 points	0.09%	0.24%
Thermo Fisher Scientific IncTMO	NBCR +0.15 points	0.39%	0.54%
Baker Hughes CoBKR	NBCR +0.15 points	0.08%	0.23%
Analog Devices IncADI	NBCR +0.14 points	0.31%	0.45%
Parker Hannifin CorpPH	NBCR +0.14 points	0.17%	0.31%
Republic Services IncRSG	NBCR +0.14 points	0.08%	0.22%
Meta Platforms Inc-Class AMETA	BKLC +0.13 points	2.06%	1.93%
United Rentals IncURI	NBCR +0.14 points	0.11%	0.25%
Procter & Gamble Co/ThePG	NBCR +0.14 points	0.58%	0.72%
Eli Lilly & CoLLY	BKLC +0.14 points	1.83%	1.69%
NVIDIA CorpNVDA	BKLC +0.13 points	7.28%	7.15%
Intuitive Surgical IncISRG	NBCR +0.14 points	0.23%	0.37%
Ge Vernova IncGEV	NBCR +0.13 points	0.35%	0.48%
Nucor CorpNUE	NBCR +0.13 points	0.10%	0.23%
Old Dominion Freight LineODFL	NBCR +0.13 points	0.05%	0.18%
Autodesk IncADSK	NBCR +0.12 points	0.09%	0.21%
Amazon.com IncAMZN	BKLC +0.13 points	3.53%	3.40%
Tesla IncTSLA	BKLC +0.13 points	1.87%	1.74%
Martin Marietta MaterialsMLM	NBCR +0.13 points	0.04%	0.17%
Echostar Corp-AECHO	NBCR +0.12 points	0.02%	0.14%
Cvs Health CorpCVS	NBCR +0.12 points	0.18%	0.30%
Sandisk CorpSNDK	NBCR +0.12 points	0.26%	0.38%
Freeport-Mcmoran IncFCX	NBCR +0.12 points	0.14%	0.26%
Eqt CorpEQT	NBCR +0.12 points	0.05%	0.17%
American Electric PowerAEP	NBCR +0.11 points	0.11%	0.22%
Vertex Pharmaceuticals IncVRTX	NBCR +0.11 points	0.22%	0.33%
Wells Fargo & CoWFC	NBCR +0.11 points	0.39%	0.50%
Csx CorpCSX	NBCR +0.10 points	0.15%	0.25%
Fifth Third BancorpFITB	NBCR +0.10 points	0.08%	0.18%
Dell Technologies -CDELL	NBCR +0.09 points	0.19%	0.28%
Uber Technologies IncUBER	NBCR +0.09 points	0.20%	0.29%
Arista Networks IncANET	NBCR +0.09 points	0.27%	0.36%
Kkr & Co IncKKR	NBCR +0.09 points	0.10%	0.19%

All 502 BKLC holdings⁠All 206 NBCR 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 NBCR Cost

Overpaying NBCR vs BKLC

$10,351

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

BKLC 0.00%
$0
NBCR 0.52%
$10,351

Amount$10,000

Years30 years

Cost over time

BKLC 0.00%
NBCR 0.52%
Overpaying

Year by year

Year	BKLC	NBCR	Overpaying
10	$0	$935	$935
20	$0	$3,593	$3,593
30	$0	$10,351	$10,351

Expense ratio

0.00%BKLC, cheaper
0.52%NBCR

BKLC0.00%NBCR0.52%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

BKLC cheapest of 29 funds

NBCR 23rd cheapest of 29 funds

BKLC vs NBCR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKLC No data; NBCR 0.42%
Payout (12M): BKLC No data; NBCR $0.14
Last payment: BKLC $0.13; NBCR $0.14
Ex-dividend: BKLC Oct 1, 2026; NBCR Dec 18, 2025
Paid on: BKLC Oct 6, 2026; NBCR Dec 23, 2025
Frequency: BKLC Quarterly; NBCR Irregular

Distribution history

Per share, 2020 to 2026, same scale for both

BKLCQuarterly · 20 paymentsAll BKLC payments⁠

NBCRIrregular · 2 paymentsAll NBCR payments⁠

BKLC vs NBCR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BKLC 12.7%NBCR 12.2%since Sep 2024
Return per unit of riskSharpe ratio, 3 years: BKLC 1.37NBCR 0.75since Sep 2024
Worst fallMax drawdown, 5 years: BKLC −26.2%NBCR −18.2%since Aug 2024
Market sensitivityBeta, 5 years: BKLC 1.02NBCR 1.00; Market = 1

BKLC and NBCR 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 NBCR

In short

Stated mandate

Why people hold it

Worth knowing

How BKLC and NBCR differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in NBCR

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 NBCR differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in NBCR

Weight gaps