BKLC vs SPXN: Grades, Fees and Holdings Compared

BNY Mellon US Large Cap Core Equity ETF

BKLCANYSE Arca

ProShares S&P 500 Ex-Financials ETF

SPXNBNYSE Arca

Overlap

83.6%by weight

Expense ratio

BKLC −0.09pt a year

BKLC0.00%SPXN0.09%

Avg volume · 30D

BKLC 685.0×the volume

BKLC628KSPXN917

5Y return · a year

SPXN +0.8pt

BKLC+11.8%SPXN+12.6%

BKLC vs SPXN Performance

Oct 29, 2021 – Oct 30, 2026

+74.7%BKLC+81.3%SPXN

Expense ratio: BKLC 0.00%, better; SPXN 0.09%
Fund size: BKLC $6.88B; SPXN $78M
1Y total return: BKLC +11.2%; SPXN +12.2%, better
Yield (12M): BKLC No data; SPXN 0.87%
Holdings: BKLC 504; SPXN 397
Avg volume (30D): BKLC 628K sh, better; SPXN 917 sh
NAV per share: BKLC $48.23; SPXN $82.80
52W range

ETF.net Grade

Pillar letters and Scores for BKLC, SPXN, with each pillar’s weight
Pillar	BKLC	SPXN
Cost30% weight	A100Higher	A73
Mission25% weight	A100Higher	A99
Risk15% weight	C53Higher	C43
Tradability15% weight	B66Higher	D34
Holdings10% weight	B61Higher	D34
Durability5% weight	A73Higher	B62

Rank among US Large-Cap funds

How we build Categories ›

Same Category. BKLC and SPXN 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 SPXN 10th 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 8BSPXTProShares S&P 500 Ex-Technology ETFScore 67
Rank 10BSPXNProShares S&P 500 Ex-Financials ETFScore 64
Rank 10BXOEFiShares S&P 500 ex S&P 100 ETFScore 64

Our read on each fund

ETF.net Research

BKLCABNY Mellon US Large Cap Core Equity ETF

SPXNBProShares S&P 500 Ex-Financials 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%.

SPXN The S&P 500 with one sector cut out. SPXN holds the index minus banks, insurers and the rest of the financials sector, so you get large-cap America with the Wall Street slice removed.

Stated mandate

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

SPXN SPXN is designed to provide large-cap S&P 500 exposure with the Financials sector excluded.

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.

SPXN Costs 0.09% a year, below the typical large-cap ETF in its group.
Does the one thing on the label: roughly 400 S&P 500 names with financials stripped out, tracked closely against its ex-financials benchmark.proshares.com
Plain-vanilla plumbing: a 1940 Act index ETF running since 2015, paying distributions quarterly. No swaps, no leverage, no reset math.
Sits in the upper half of its large-cap peer group on ETF.net's review.

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

SPXN Thinly traded, so spreads can be wider than the giants of the category. Limit orders matter more here.
Broad large-cap alternatives run cheaper: SCHX and VV both charge 0.03%.
Cutting a whole sector is an active call. Returns will drift from the plain S&P 500 in both directions, and the remaining sectors carry more weight.proshares.com

Full BKLC profile⁠

Full SPXN profile⁠

BKLC vs SPXN Holdings

How BKLC and SPXN differ

Overlap by weight

83.6%

Shared holdings make up 97.8% of SPXN and 83.6% of BKLC.

Level by level

Holdings332 in both83.6%
Sector11 Sectors87.5%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in BKLC and SPXN, widest gap first
Sector	More in BKLCMore in SPXN	BKLC	SPXN
Financials	BKLC +10.9 points	10.9%	0.0%
Technology	SPXN +6.1 points	40.2%	46.3%
Real Estate	BKLC +1.5 points	1.5%	0.0%
Communication	SPXN +1.4 points	10.1%	11.4%
Health Care	SPXN +1.3 points	9.4%	10.7%
Consumer Discretionary	SPXN +1.3 points	8.8%	10.1%
Industrials	SPXN +0.9 points	7.8%	8.7%
Consumer Staples	SPXN +0.8 points	4.2%	5.0%
Energy	SPXN +0.4 points	3.5%	3.9%
Utilities	SPXN +0.4 points	1.8%	2.2%
Materials	SPXN +0.1 points	1.7%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in BKLC and SPXN, widest gap first
Country	More in BKLCMore in SPXN	BKLC	SPXN
United States	SPXN +0.4 points	99.3%	99.7%
Switzerland	BKLC +0.2 points	0.3%	0.1%
Brazil	BKLC +0.1 points	0.1%	0.0%
China	Same weight	0.1%	0.1%
United Kingdom	BKLC +0.1 points	0.1%	0.0%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
Finland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BKLC36.9%
SPXN43.2%

Securities held

BKLC503
SPXN396

Asset class

BKLC: Equity
SPXN: Equity

Holdings

Only in BKLC171
In both332
Only in SPXN64

Only in BKLC

171 securities, 16.4% of BKLC by weight

JPMorgan Chase & Co1.37%
Berkshire Hathaway Inc-Cl B1.16%
Visa Inc-Class A Shares1.05%
Mastercard Inc - A0.77%
Bank of America Corp0.47%
Goldman Sachs Group Inc0.40%
Wells Fargo & Co0.39%
Morgan Stanley0.34%
Citigroup Inc0.32%
BlackRock Inc0.28%
American Express Co0.27%
Welltower Inc0.25%
Schwab (Charles) Corp0.22%
Progressive Corp0.21%
S&P Global Inc0.20%
Chubb Ltd0.20%
Capital One Financial Corp0.19%
Prologis Inc0.19%
Cme Group Inc0.17%
Snowflake Inc0.16%
Equinix Inc0.15%
Bank of New York Mellon Corp0.15%
Intercontinental Exchange In0.14%
Elevance Health Inc0.14%
Trane Technologies PLC0.14%
Marsh & Mclennan Cos0.14%
Us Bancorp0.14%
Cloudflare Inc - Class A0.14%
Pnc Financial Services Group0.13%
Space Exploration Techn-Cl A0.13%
American Tower Corp0.13%
Blackstone Inc0.13%
Travelers Cos Inc/The0.13%
Moody's Corp0.12%
Mercadolibre Inc0.12%
Simon Property Group Inc0.11%
Cheniere Energy Inc0.11%
Allstate Corp0.10%
Truist Financial Corp0.10%
Robinhood Markets Inc - A0.10%
Arthur J Gallagher & Co0.10%
Kkr & Co Inc0.10%
Digital Realty Trust Inc0.10%
Aon Plc-Class A0.09%
Aflac Inc0.09%
Natera Inc0.09%
Metlife Inc0.08%
Becton Dickinson and Co0.08%
Public Storage0.08%
PayPal Holdings Inc0.08%

Only in SPXN

64 securities, 1.9% of SPXN by weight

Elevance Health Inc0.16%
Trane Technologies PLC0.16%
Becton Dickinson and Co0.10%
Honeywell Aerospace Inc0.09%
Steris PLC0.04%
Viatris Inc0.04%
Ptc Inc0.04%
Skyworks Solutions Inc0.04%
Best Buy Co Inc0.03%
Cf Industries Holdings Inc0.03%
Snap-On Inc0.03%
Apa Corp0.03%
Leidos Holdings Inc0.03%
Revvity Inc0.03%
Ball Corp0.03%
Idex Corp0.03%
Zebra Technologies Corp-Cl A0.03%
Charles River Laboratories0.03%
Nordson Corp0.03%
Hasbro Inc0.03%
Allegion PLC0.03%
Masco Corp0.03%
Gen Digital Inc0.03%
Stanley Black & Decker Inc0.03%
Bunge Global SA0.03%
Trimble Inc0.03%
Tyler Technologies Inc0.03%
Godaddy Inc - Class A0.03%
Textron Inc0.03%
C.h. Robinson Worldwide Inc0.03%
Gartner Inc0.03%
Jm Smucker Co/The0.02%
Avery Dennison Corp0.02%
Akamai Technologies Inc0.02%
Pinnacle West Capital0.02%
Huntington Ingalls Industrie0.02%
Mccormick & Co-Non Vtg Shrs0.02%
Baxter International Inc0.02%
Generac Holdings Inc0.02%
Solventum Corp0.02%
Cooper Cos Inc/The0.02%
Bio-Techne Corp0.02%
Lululemon Athletica Inc0.02%
Albemarle Corp0.02%
Aes Corp0.02%
Clorox Company0.02%
Pentair PLC0.02%
News Corp - Class A0.02%
Domino's Pizza Inc0.02%
Insulet Corp0.02%

Weight gaps

The 100 widest of 332 Holdings in both funds.

Holding weights in BKLC and SPXN, widest gap first
Holding	More in BKLCMore in SPXN	BKLC	SPXN
NVIDIA CorpNVDA	SPXN +1.51 points	7.28%	8.79%
Apple IncAAPL	SPXN +1.40 points	7.53%	8.93%
Microsoft CorpMSFT	SPXN +1.04 points	5.84%	6.88%
Amazon.com IncAMZN	SPXN +0.66 points	3.53%	4.19%
Broadcom IncAVGO	SPXN +0.43 points	2.32%	2.75%
Alphabet Inc-Cl AGOOGL	SPXN +0.41 points	2.51%	2.92%
Meta Platforms Inc-Class AMETA	SPXN +0.35 points	2.06%	2.41%
Micron Technology IncMU	SPXN +0.24 points	1.53%	1.77%
Advanced Micro DevicesAMD	SPXN +0.21 points	1.25%	1.46%
Alphabet Inc-Cl CGOOG	SPXN +0.19 points	2.16%	2.35%
Eli Lilly & CoLLY	SPXN +0.18 points	1.83%	2.01%
Exxonmobil Holdings CorpXOM	SPXN +0.18 points	1.19%	1.37%
Johnson & JohnsonJNJ	SPXN +0.16 points	1.01%	1.17%
Walmart IncWMT	SPXN +0.16 points	0.82%	0.98%
Chevron CorpCVX	SPXN +0.16 points	0.67%	0.83%
Palantir Technologies Inc-APLTR	SPXN +0.15 points	0.60%	0.75%
Intel CorpINTC	SPXN +0.15 points	0.43%	0.58%
Tesla IncTSLA	SPXN +0.13 points	1.87%	2.00%
AbbVie IncABBV	SPXN +0.13 points	0.80%	0.93%
Costco Wholesale CorpCOST	SPXN +0.11 points	0.69%	0.80%
Cisco Systems IncCSCO	SPXN +0.10 points	0.63%	0.73%
UnitedHealth Group IncUNH	SPXN +0.09 points	0.56%	0.65%
Merck & Co. Inc.MRK	SPXN +0.10 points	0.56%	0.66%
Coca-Cola Co/TheKO	SPXN +0.09 points	0.56%	0.65%
Home Depot IncHD	SPXN +0.09 points	0.49%	0.58%
Procter & Gamble Co/ThePG	SPXN +0.09 points	0.58%	0.67%
Philip Morris InternationalPM	SPXN +0.08 points	0.50%	0.58%
General ElectricGE	SPXN +0.08 points	0.48%	0.56%
Applied Materials IncAMAT	SPXN +0.08 points	0.47%	0.55%
Caterpillar IncCAT	SPXN +0.08 points	0.43%	0.51%
Palo Alto Networks IncPANW	SPXN +0.08 points	0.45%	0.53%
Lam Research CorpLRCX	SPXN +0.07 points	0.46%	0.53%
Texas Instruments IncTXN	SPXN +0.08 points	0.41%	0.49%
Crowdstrike Holdings Inc - ACRWD	SPXN +0.07 points	0.38%	0.45%
Rtx CorpRTX	SPXN +0.07 points	0.41%	0.48%
Thermo Fisher Scientific IncTMO	SPXN +0.07 points	0.39%	0.46%
Amgen IncAMGN	SPXN +0.07 points	0.38%	0.45%
Oracle CorpORCL	SPXN +0.06 points	0.34%	0.40%
Netflix IncNFLX	SPXN +0.06 points	0.40%	0.46%
Linde PLCLIN	SPXN +0.06 points	0.36%	0.42%
Intl Business Machines CorpIBM	SPXN +0.06 points	0.37%	0.43%
Salesforce IncCRM	SPXN +0.05 points	0.28%	0.33%
Analog Devices IncADI	SPXN +0.05 points	0.31%	0.36%
Amphenol Corp-Cl AAPH	SPXN +0.06 points	0.29%	0.35%
Ge Vernova IncGEV	SPXN +0.06 points	0.35%	0.41%
Gilead Sciences IncGILD	SPXN +0.06 points	0.32%	0.38%
Mcdonald's CorpMCD	SPXN +0.05 points	0.27%	0.32%
Kla CorpKLAC	SPXN +0.05 points	0.32%	0.37%
Pepsico IncPEP	SPXN +0.05 points	0.28%	0.33%
Qualcomm IncQCOM	SPXN +0.04 points	0.27%	0.31%
Nextera Energy IncNEE	SPXN +0.05 points	0.26%	0.31%
Arista Networks IncANET	SPXN +0.04 points	0.27%	0.31%
Western Digital CorpWDC	SPXN +0.04 points	0.19%	0.23%
Deere & CoDE	SPXN +0.04 points	0.26%	0.30%
Pfizer IncPFE	SPXN +0.05 points	0.26%	0.31%
Walt Disney Co/TheDIS	SPXN +0.04 points	0.30%	0.34%
United Parcel Service-Cl BUPS	SPXN +0.04 points	0.10%	0.14%
Marvell Technology IncMRVL	SPXN +0.05 points	0.26%	0.31%
Dell Technologies -CDELL	SPXN +0.04 points	0.19%	0.23%
Lumentum Holdings IncLITE	SPXN +0.04 points	0.09%	0.13%
Union Pacific CorpUNP	SPXN +0.04 points	0.28%	0.32%
ConocophillipsCOP	SPXN +0.04 points	0.29%	0.33%
Tjx Companies IncTJX	SPXN +0.05 points	0.23%	0.28%
Verizon Communications IncVZ	SPXN +0.04 points	0.29%	0.33%
Uber Technologies IncUBER	SPXN +0.04 points	0.20%	0.24%
Abbott LaboratoriesABT	SPXN +0.04 points	0.29%	0.33%
Accenture Plc-Cl AACN	SPXN +0.04 points	0.24%	0.28%
Danaher CorpDHR	SPXN +0.04 points	0.22%	0.26%
Seagate Technology HoldingsSTX	SPXN +0.04 points	0.22%	0.26%
General Dynamics CorpGD	SPXN +0.04 points	0.13%	0.17%
Southern Co/TheSO	SPXN +0.04 points	0.15%	0.19%
Intuitive Surgical IncISRG	SPXN +0.04 points	0.23%	0.27%
Vertiv Holdings Co-AVRT	SPXN +0.04 points	0.12%	0.16%
Sandisk CorpSNDK	SPXN +0.04 points	0.26%	0.30%
Boeing Co/TheBA	SPXN +0.04 points	0.20%	0.24%
Eaton Corp PLCETN	SPXN +0.04 points	0.22%	0.26%
Vertex Pharmaceuticals IncVRTX	SPXN +0.03 points	0.22%	0.25%
Parker Hannifin CorpPH	SPXN +0.03 points	0.17%	0.20%
Altria Group IncMO	SPXN +0.03 points	0.20%	0.23%
AT&T IncT	SPXN +0.03 points	0.23%	0.26%
Medtronic PLCMDT	SPXN +0.03 points	0.19%	0.22%
Stryker CorpSYK	SPXN +0.03 points	0.15%	0.18%
Bristol-Myers Squibb CoBMY	SPXN +0.03 points	0.20%	0.23%
Corning IncGLW	SPXN +0.03 points	0.14%	0.17%
Lowe's Cos IncLOW	SPXN +0.03 points	0.18%	0.21%
Moderna IncMRNA	SPXN +0.03 points	0.12%	0.15%
Cvs Health CorpCVS	SPXN +0.02 points	0.18%	0.20%
Mckesson CorpMCK	SPXN +0.03 points	0.18%	0.21%
Starbucks CorpSBUX	SPXN +0.03 points	0.18%	0.21%
Adobe IncADBE	SPXN +0.03 points	0.15%	0.18%
Quanta Services IncPWR	SPXN +0.03 points	0.14%	0.17%
Servicenow IncNOW	SPXN +0.02 points	0.17%	0.19%
Phillips 66PSX	SPXN +0.03 points	0.17%	0.20%
Entergy CorpETR	SPXN +0.02 points	0.07%	0.09%
L3HARRIS Technologies IncLHX	SPXN +0.02 points	0.07%	0.09%
Valero Energy CorpVLO	SPXN +0.02 points	0.18%	0.20%
Doordash Inc - ADASH	SPXN +0.02 points	0.10%	0.12%
T-Mobile Us IncTMUS	SPXN +0.02 points	0.11%	0.13%
Datadog Inc - Class ADDOG	SPXN +0.02 points	0.12%	0.14%
Csx CorpCSX	SPXN +0.02 points	0.15%	0.17%

All 502 BKLC holdings⁠All 399 SPXN 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 SPXN Cost

Overpaying SPXN vs BKLC

$1,898

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

BKLC 0.00%
$0
SPXN 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

BKLC 0.00%
SPXN 0.09%
Overpaying

Year by year

Year	BKLC	SPXN	Overpaying
10	$0	$165	$165
20	$0	$646	$646
30	$0	$1,898	$1,898

Expense ratio

0.00%BKLC, cheaper
0.09%SPXN

BKLC0.00%SPXN0.09%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

BKLC cheapest of 29 funds

SPXN 7th cheapest of 29 funds

BKLC vs SPXN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKLC No data; SPXN 0.87%
Payout (12M): BKLC No data; SPXN $0.72
Last payment: BKLC $0.13; SPXN $0.18
Ex-dividend: BKLC Oct 1, 2026; SPXN Sep 23, 2026
Paid on: BKLC Oct 6, 2026; SPXN Sep 29, 2026
Frequency: BKLC Quarterly; SPXN Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BKLCQuarterly · 20 paymentsAll BKLC payments⁠

SPXNQuarterly · 39 paymentsAll SPXN payments⁠

BKLC vs SPXN Risk

Fall from peak · 5 years

BKLC
SPXN

Risk facts

VolatilityStd dev, 3 years: BKLC 12.7%, betterSPXN 13.0%
Return per unit of riskSharpe ratio, 3 years: BKLC 1.37SPXN 1.37
Worst fallMax drawdown, 5 years: BKLC −26.2%SPXN −24.5%, better
Market sensitivityBeta, 5 years: BKLC 1.02SPXN 1.04; Market = 1

BKLC and SPXN 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 SPXN

In short

Stated mandate

Why people hold it

Worth knowing

How BKLC and SPXN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in SPXN

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 SPXN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in SPXN

Weight gaps