BKLC vs XLG: Grades, Fees and Holdings Compared

BNY Mellon US Large Cap Core Equity ETF

BKLCANYSE Arca

Invesco S&P 500 Top 50 ETF

XLGBNYSE Arca

Overlap

61.5%by weight

Expense ratio

BKLC −0.20pt a year

BKLC0.00%XLG0.20%

Avg volume · 30D

XLG 1.9×the volume

BKLC628KXLG1.17M

5Y return · a year

XLG +0.7pt

BKLC+11.8%XLG+12.5%

BKLC vs XLG Performance

Oct 29, 2021 – Oct 30, 2026

+74.7%BKLC+80.1%XLG

Expense ratio: BKLC 0.00%, better; XLG 0.20%
Fund size: BKLC $6.88B; XLG $11.5B
1Y total return: BKLC +11.2%, better; XLG +3.3%
Yield (12M): BKLC No data; XLG 0.64%
Holdings: BKLC 504; XLG 53
Avg volume (30D): BKLC 628K sh; XLG 1.17M sh, better
NAV per share: BKLC $48.23; XLG $61.47
52W range

ETF.net Grade

Pillar letters and Scores for BKLC, XLG, with each pillar’s weight
Pillar	BKLC	XLG
Cost30% weight	A100Higher	C50
Mission25% weight	A100Higher	A86
Risk15% weight	C53Higher	D25
Tradability15% weight	B66	A95Higher
Holdings10% weight	B61Higher	D27
Durability5% weight	A73	A87Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. BKLC and XLG 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 XLG 14th 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 12BSPXVProShares S&P 500 Ex-Health Care ETFScore 63
Rank 14BXLGInvesco S&P 500 Top 50 ETFScore 61
Rank 14BXMAGLarge Cap Ex-Mag 7 ETFScore 61

Our read on each fund

ETF.net Research

BKLCABNY Mellon US Large Cap Core Equity ETF

XLGBInvesco S&P 500 Top 50 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%.

XLG The S&P 500's top shelf, bottled on its own. About 50 of the largest US companies, weighted by size, tracked since 2005. The same giants a total-market fund owns, without the several hundred smaller names riding behind them.

Stated mandate

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

XLG The fund seeks to track the performance of the S&P 500 Top 50 Index by investing at least 90% of assets in securities included in that 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.

XLG Concentration on purpose: it holds the 50 largest S&P 500 companies by float-adjusted market cap, weighted the same way, so the biggest names carry the most weight.yahoo.com
A two-decade track record (live since 2005) with index tracking that stays close to the benchmark and an actively traded market in the shares.
A lineup you can actually read: roughly 50 holdings, all household names, with cash paid out to shareholders quarterly.

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

XLG At 0.20% a year it costs more than the typical large-cap index fund in its group, where rivals like SCHX and VV charge 0.03%.
Non-diversified by SEC definition. With about 50 stocks, one giant or one sector stumbling moves this fund more than it moves a 500-stock index.yahoo.com
It is the S&P 500 minus its smaller half, so next to a broad US fund it concentrates exposure you likely already hold rather than adding a new corner of the market.

Full BKLC profile⁠

Full XLG profile⁠

BKLC vs XLG Holdings

How BKLC and XLG differ

Overlap by weight

61.5%

Shared holdings make up 99.9% of XLG and 61.5% of BKLC.

Level by level

Holdings51 in both61.5%
Sector11 Sectors84.4%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in BKLC and XLG, widest gap first
Sector	More in BKLCMore in XLG	BKLC	XLG
Technology	XLG +11.2 points	40.2%	51.4%
Industrials	BKLC +5.5 points	7.8%	2.3%
Communication	XLG +3.4 points	10.1%	13.5%
Health Care	BKLC +3.0 points	9.4%	6.4%
Utilities	BKLC +1.8 points	1.8%	0.0%
Financials	BKLC +1.6 points	10.9%	9.3%
Real Estate	BKLC +1.5 points	1.5%	0.0%
Materials	BKLC +1.2 points	1.7%	0.5%
Energy	BKLC +1.0 points	3.5%	2.5%
Consumer Staples	XLG +0.6 points	4.2%	4.8%
Consumer Discretionary	XLG +0.4 points	8.8%	9.2%

Country, concentration and asset class

Country by domicile

Country weights in BKLC and XLG, widest gap first
Country	More in BKLCMore in XLG	BKLC	XLG
United States	XLG +0.7 points	99.3%	100.0%
Other countries (7)	BKLC +0.7 points	0.7%	0.0%

Concentration

Weight in the 10 largest Holdings

BKLC36.9%
XLG59.4%

Securities held

BKLC503
XLG52

Asset class

BKLC: Equity
XLG: Equity

Holdings

Only in BKLC452
In both51
Only in XLG1

Only in BKLC

452 securities, 38.5% of BKLC by weight

Palo Alto Networks Inc0.45%
Rtx Corp0.41%
Thermo Fisher Scientific Inc0.39%
Amgen Inc0.38%
Crowdstrike Holdings Inc - A0.38%
Gilead Sciences Inc0.32%
Citigroup Inc0.32%
Analog Devices Inc0.31%
Walt Disney Co/The0.30%
Amphenol Corp-Cl A0.29%
Conocophillips0.29%
Abbott Laboratories0.29%
Union Pacific Corp0.28%
Salesforce Inc0.28%
BlackRock Inc0.28%
American Express Co0.27%
Arista Networks Inc0.27%
Pfizer Inc0.26%
Nextera Energy Inc0.26%
Marvell Technology Inc0.26%
Deere & Co0.26%
Welltower Inc0.25%
Accenture Plc-Cl A0.24%
Tjx Companies Inc0.23%
Intuitive Surgical Inc0.23%
AT&T Inc0.23%
Lockheed Martin Corp0.23%
Schwab (Charles) Corp0.22%
Eaton Corp PLC0.22%
Seagate Technology Holdings0.22%
Danaher Corp0.22%
Vertex Pharmaceuticals Inc0.22%
Progressive Corp0.21%
Boeing Co/The0.20%
S&P Global Inc0.20%
Chubb Ltd0.20%
Altria Group Inc0.20%
Marathon Petroleum Corp0.20%
Bristol-Myers Squibb Co0.20%
Uber Technologies Inc0.20%
Capital One Financial Corp0.19%
Western Digital Corp0.19%
Medtronic PLC0.19%
Prologis Inc0.19%
Dell Technologies -C0.19%
Automatic Data Processing0.18%
Starbucks Corp0.18%
Valero Energy Corp0.18%
Lowe's Cos Inc0.18%
Mckesson Corp0.18%

Only in XLG

1 security, 0.0% of XLG by weight

Invesco Government & Agency Portfolio0.02%

Weight gaps

All 51 Holdings in both funds, largest gap first.

Holding weights in BKLC and XLG, widest gap first
Holding	More in BKLCMore in XLG	BKLC	XLG
NVIDIA CorpNVDA	XLG +5.08 points	7.28%	12.36%
Apple IncAAPL	XLG +4.64 points	7.53%	12.17%
Microsoft CorpMSFT	XLG +3.57 points	5.84%	9.41%
Amazon.com IncAMZN	XLG +2.19 points	3.53%	5.72%
Broadcom IncAVGO	XLG +1.60 points	2.32%	3.92%
Alphabet Inc-Cl AGOOGL	XLG +1.47 points	2.51%	3.98%
Berkshire Hathaway Inc-Cl BBRK.B	XLG +1.25 points	1.16%	2.41%
Meta Platforms Inc-Class AMETA	XLG +1.23 points	2.06%	3.29%
Alphabet Inc-Cl CGOOG	XLG +1.05 points	2.16%	3.21%
Micron Technology IncMU	XLG +0.99 points	1.53%	2.52%
Advanced Micro DevicesAMD	XLG +0.96 points	1.25%	2.21%
Tesla IncTSLA	XLG +0.85 points	1.87%	2.72%
JPMorgan Chase & CoJPM	XLG +0.81 points	1.37%	2.18%
Eli Lilly & CoLLY	XLG +0.80 points	1.83%	2.63%
Intel CorpINTC	XLG +0.66 points	0.43%	1.09%
Visa Inc-Class A SharesV	XLG +0.62 points	1.05%	1.67%
Exxonmobil Holdings CorpXOM	XLG +0.61 points	1.19%	1.80%
Johnson & JohnsonJNJ	XLG +0.57 points	1.01%	1.58%
Palantir Technologies Inc-APLTR	XLG +0.48 points	0.60%	1.08%
Walmart IncWMT	XLG +0.47 points	0.82%	1.29%
Mastercard Inc - AMA	XLG +0.46 points	0.77%	1.23%
AbbVie IncABBV	XLG +0.43 points	0.80%	1.23%
Chevron CorpCVX	XLG +0.42 points	0.67%	1.09%
Cisco Systems IncCSCO	XLG +0.39 points	0.63%	1.02%
Costco Wholesale CorpCOST	XLG +0.37 points	0.69%	1.06%
Applied Materials IncAMAT	XLG +0.33 points	0.47%	0.80%
UnitedHealth Group IncUNH	XLG +0.32 points	0.56%	0.88%
Bank of America CorpBAC	XLG +0.33 points	0.47%	0.80%
Procter & Gamble Co/ThePG	XLG +0.31 points	0.58%	0.89%
Lam Research CorpLRCX	XLG +0.30 points	0.46%	0.76%
Coca-Cola Co/TheKO	XLG +0.30 points	0.56%	0.86%
General ElectricGE	XLG +0.30 points	0.48%	0.78%
Merck & Co. Inc.MRK	XLG +0.30 points	0.56%	0.86%
Home Depot IncHD	XLG +0.29 points	0.49%	0.78%
Caterpillar IncCAT	XLG +0.28 points	0.43%	0.71%
Philip Morris InternationalPM	XLG +0.28 points	0.50%	0.78%
Texas Instruments IncTXN	XLG +0.27 points	0.41%	0.68%
Goldman Sachs Group IncGS	XLG +0.24 points	0.40%	0.64%
Oracle CorpORCL	XLG +0.24 points	0.34%	0.58%
Wells Fargo & CoWFC	XLG +0.22 points	0.39%	0.61%
Netflix IncNFLX	XLG +0.22 points	0.40%	0.62%
Ge Vernova IncGEV	XLG +0.22 points	0.35%	0.57%
Kla CorpKLAC	XLG +0.20 points	0.32%	0.52%
Qualcomm IncQCOM	XLG +0.20 points	0.27%	0.47%
Intl Business Machines CorpIBM	XLG +0.21 points	0.37%	0.58%
Morgan StanleyMS	XLG +0.20 points	0.34%	0.54%
Sandisk CorpSNDK	XLG +0.20 points	0.26%	0.46%
Linde PLCLIN	XLG +0.19 points	0.36%	0.55%
Mcdonald's CorpMCD	XLG +0.17 points	0.27%	0.44%
Pepsico IncPEP	XLG +0.16 points	0.28%	0.44%
Verizon Communications IncVZ	XLG +0.14 points	0.29%	0.43%

All 502 BKLC holdings⁠All 52 XLG 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 XLG Cost

Overpaying XLG vs BKLC

$4,155

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

BKLC 0.00%
$0
XLG 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

BKLC 0.00%
XLG 0.20%
Overpaying

Year by year

Year	BKLC	XLG	Overpaying
10	$0	$365	$365
20	$0	$1,421	$1,421
30	$0	$4,155	$4,155

Expense ratio

0.00%BKLC, cheaper
0.20%XLG

BKLC0.00%XLG0.20%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

BKLC cheapest of 29 funds

XLG 15th cheapest of 29 funds

BKLC vs XLG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKLC No data; XLG 0.64%
Payout (12M): BKLC No data; XLG $0.40
Last payment: BKLC $0.13; XLG $0.09
Ex-dividend: BKLC Oct 1, 2026; XLG Sep 21, 2026
Paid on: BKLC Oct 6, 2026; XLG Sep 25, 2026
Frequency: BKLC Quarterly; XLG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BKLCQuarterly · 20 paymentsAll BKLC payments⁠

XLGQuarterly · 39 paymentsAll XLG payments⁠

BKLC vs XLG Risk

Fall from peak · 5 years

BKLC
XLG

Risk facts

VolatilityStd dev, 3 years: BKLC 12.7%, betterXLG 14.5%
Return per unit of riskSharpe ratio, 3 years: BKLC 1.37, betterXLG 1.23
Worst fallMax drawdown, 5 years: BKLC −26.2%, betterXLG −28.0%
Market sensitivityBeta, 5 years: BKLC 1.02XLG 1.06; Market = 1

BKLC and XLG 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, 2026XLG

Popular comparisons

BKLCAvsSCHXA
BNY Mellon US Large Cap Core Equity ETF · Schwab U.S. Large-Cap ETF
Expense ratio
0.00% · 0.03%
Category
XLGBvsSCHXA
Invesco S&P 500 Top 50 ETF · Schwab U.S. Large-Cap ETF
Expense ratio
0.20% · 0.03%
Category
BKLCAvsEPSA
BNY Mellon US Large Cap Core Equity ETF · WisdomTree U.S. LargeCap Fund
Expense ratio
0.00% · 0.08%
Category
XLGBvsEPSA
Invesco S&P 500 Top 50 ETF · WisdomTree U.S. LargeCap Fund
Expense ratio
0.20% · 0.08%
Category
BKLCAvsVVA
BNY Mellon US Large Cap Core Equity ETF · Vanguard Morningstar Large-Cap ETF
Expense ratio
0.00% · 0.03%
Category
XLGBvsVVA
Invesco S&P 500 Top 50 ETF · Vanguard Morningstar Large-Cap ETF
Expense ratio
0.20% · 0.03%
Category

BKLC vs XLG

In short

Stated mandate

Why people hold it

Worth knowing

How BKLC and XLG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in XLG

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 XLG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BKLC

Only in XLG

Weight gaps