BKLC vs. VTEB
BKLC (BNY Mellon US Large Cap Core Equity ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both exchange-traded funds - BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index, while VTEB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 5 years, BKLC returned 13.79%/yr vs 0.80%/yr for VTEB. At a 0.17 correlation, their price movements are largely independent. BKLC charges 0.00%/yr vs 0.03%/yr for VTEB.
Performance
BKLC vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, BKLC achieves a 9.04% return, which is significantly higher than VTEB's 1.44% return.
BKLC
- 1D
- 0.43%
- 1M
- 0.56%
- YTD
- 9.04%
- 6M
- 9.42%
- 1Y
- 25.68%
- 3Y*
- 21.79%
- 5Y*
- 13.79%
- 10Y*
- —
VTEB
- 1D
- -0.08%
- 1M
- 1.22%
- YTD
- 1.44%
- 6M
- 1.95%
- 1Y
- 6.57%
- 3Y*
- 3.44%
- 5Y*
- 0.80%
- 10Y*
- 2.03%
BKLC vs. VTEB - 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.44% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 6.05% |
Correlation
The correlation between BKLC and VTEB is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020 | 0.17 |
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Return for Risk
BKLC vs. VTEB — Risk / Return Rank
BKLC
VTEB
BKLC vs. VTEB - 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 Vanguard Tax-Exempt Bond ETF (VTEB). 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 | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.51 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 2.35 | +0.34 |
| Martin ratioReturn relative to average drawdown | 11.95 | 8.30 | +3.65 |
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Drawdowns
BKLC vs. VTEB - Drawdown Comparison
The maximum BKLC drawdown since its inception was -26.14%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for BKLC and VTEB.
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Drawdown Indicators
| BKLC | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.14% | -17.00% | -9.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -2.71% | -6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -5.53% | -13.52% |
Max Drawdown (5Y)Largest decline over 5 years | -26.14% | -12.64% | -13.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -2.43% | -0.54% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -2.32% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 0.77% | +1.28% |
Volatility
BKLC vs. VTEB - Volatility Comparison
BNY Mellon US Large Cap Core Equity ETF (BKLC) has a higher volatility of 4.60% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.93%. This indicates that BKLC's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKLC | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 0.93% | +3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 2.04% | +7.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.63% | 2.70% | +9.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.23% | 3.90% | +13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 5.26% | +12.21% |
BKLC vs. VTEB - Expense Ratio Comparison
BKLC has a 0.00% expense ratio, which is lower than VTEB's 0.03% 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. VTEB - Dividend Comparison
BKLC's dividend yield for the trailing twelve months is around 1.03%, less than VTEB's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.36% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
BKLC and VTEB have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKLC has higher volatility (4.60%) compared to VTEB (0.93%). In terms of maximum drawdown, BKLC dropped -26.14% vs VTEB's -17.00%.
On 5-year performance, BKLC leads with 13.79% vs 0.80% for VTEB. On fees, BKLC is cheaper at 0.00% per year. On volatility, VTEB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKLC has performed better with a 13.79% return vs 0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKLC is cheaper with a 0.00% expense ratio, compared with 0.03% for VTEB.
VTEB has the higher dividend yield at 3.36%, compared with 1.03% for BKLC.
BKLC is categorized as Large Cap Blend Equities, while VTEB is Municipal Bonds. BKLC tracks Morningstar US Large Cap Index, while VTEB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: BNY Mellon and Vanguard. Their fees differ too: 0.00% for BKLC and 0.03% for VTEB.
VTEB currently has the higher Sharpe Ratio (2.38 vs 1.94), 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.
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