BKLC vs. FNILX

Last updated Jun 14, 2026

BKLC (BNY Mellon US Large Cap Core Equity ETF) and FNILX (Fidelity ZERO Large Cap Index Fund) are both Large Cap Blend Equities funds. Over the past 5 years, BKLC returned 13.79%/yr vs 13.10%/yr for FNILX. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.00% expense ratio.

Performance

BKLC vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon US Large Cap Core Equity ETF (BKLC) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKLC achieves a 9.04% return, which is significantly higher than FNILX's 8.36% return.

BKLC

• 1D: 0.43%
• 1M: -0.76%
• YTD: 9.04%
• 6M: 9.42%
• 1Y: 25.68%
• 3Y*: 21.79%
• 5Y*: 13.79%
• 10Y*: —

FNILX

• 1D: 1.81%
• 1M: -1.16%
• YTD: 8.36%
• 6M: 8.67%
• 1Y: 24.79%
• 3Y*: 21.29%
• 5Y*: 13.10%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BKLC vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKLC BNY Mellon US Large Cap Core Equity ETF	9.04%	18.06%	25.56%	30.88%	-20.52%	27.41%	37.31%
FNILX Fidelity ZERO Large Cap Index Fund	8.36%	17.81%	25.47%	27.45%	-19.37%	26.67%	41.09%

Correlation

The correlation between BKLC and FNILX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.98

The correlation between BKLC and FNILX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

BKLC vs. FNILX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKLC

BKLC Risk / Return Rank: 68
BKLC Sharpe Ratio Rank: 69
BKLC Sortino Ratio Rank: 65
BKLC Omega Ratio Rank: 69
BKLC Calmar Ratio Rank: 62
BKLC Martin Ratio Rank: 73

FNILX

FNILX Risk / Return Rank: 70
FNILX Sharpe Ratio Rank: 70
FNILX Sortino Ratio Rank: 65
FNILX Omega Ratio Rank: 66
FNILX Calmar Ratio Rank: 71
FNILX Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKLC vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon US Large Cap Core Equity ETF (BKLC) and Fidelity ZERO Large Cap Index Fund (FNILX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BKLC	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.92	+0.02
Sortino ratio: Return per unit of downside risk	2.60	2.60	0.00
Omega ratio: Gain probability vs. loss probability	1.35	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	2.69	2.66	+0.03
Martin ratio: Return relative to average drawdown	11.95	11.84	+0.11

BKLC vs. FNILX - Sharpe Ratio Comparison

The current BKLC Sharpe Ratio is 1.94, which is comparable to the FNILX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of BKLC and FNILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKLC vs. FNILX - Drawdown Comparison

The maximum BKLC drawdown since its inception was -26.14%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for BKLC and FNILX.

Drawdown Indicators

	BKLC	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-26.14%	-33.76%	+7.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-9.01%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-19.08%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-25.40%	-0.74%
Current Drawdown Current decline from peak	-2.43%	-2.87%	+0.44%
Average Drawdown Average peak-to-trough decline	-5.26%	-5.36%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.02%	+0.03%

Volatility

BKLC vs. FNILX - Volatility Comparison

BNY Mellon US Large Cap Core Equity ETF (BKLC) and Fidelity ZERO Large Cap Index Fund (FNILX) have volatilities of 4.60% and 4.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKLC	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.59%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	9.76%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	12.47%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	17.32%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.47%	20.05%	-2.58%

BKLC vs. FNILX - Expense Ratio Comparison

BKLC has a 0.00% expense ratio, which is lower than FNILX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKLC vs. FNILX - Dividend Comparison

BKLC's dividend yield for the trailing twelve months is around 1.03%, more than FNILX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BKLC BNY Mellon US Large Cap Core Equity ETF	1.03%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%	0.00%	0.00%
FNILX Fidelity ZERO Large Cap Index Fund	0.93%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%

Frequently Asked Questions

Can I hold both BKLC and FNILX in my portfolio?

With a correlation of 0.99, BKLC and FNILX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BKLC or FNILX?

BKLC has higher volatility (4.60%) compared to FNILX (4.59%). In terms of maximum drawdown, BKLC dropped -26.14% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

BKLC currently has the higher Sharpe Ratio (1.94 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.