BKSE vs. BKLC

Last updated Jun 24, 2026

BKSE (BNY Mellon US Small Cap Core Equity ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - BKSE is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Index, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. Both are passively managed. Over the past 5 years, BKSE returned 7.44%/yr vs 13.37%/yr for BKLC. A 0.78 correlation means they provide meaningful diversification when combined. BKSE charges 0.04%/yr vs 0.00%/yr for BKLC.

Performance

BKSE vs. BKLC - Performance Comparison

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

Returns By Period

In the year-to-date period, BKSE achieves a 16.28% return, which is significantly higher than BKLC's 8.23% return.

BKSE

• 1D: -0.10%
• 1M: 3.72%
• YTD: 16.28%
• 6M: 14.10%
• 1Y: 34.93%
• 3Y*: 18.52%
• 5Y*: 7.44%
• 10Y*: —

BKLC

• 1D: -1.40%
• 1M: -1.17%
• YTD: 8.23%
• 6M: 7.30%
• 1Y: 23.79%
• 3Y*: 21.56%
• 5Y*: 13.37%
• 10Y*: —

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

BKSE vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKSE BNY Mellon US Small Cap Core Equity ETF	16.28%	13.09%	9.56%	22.37%	-18.44%	16.18%	53.89%
BKLC BNY Mellon US Large Cap Core Equity ETF	8.23%	18.06%	25.56%	30.88%	-20.52%	27.41%	37.31%

Correlation

The correlation between BKSE and BKLC is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.78

The correlation between BKSE and BKLC has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

BKSE vs. BKLC - Sectors Allocation Comparison

Sectors	BKSE	BKLC
Technology	16.8%	38.8%
Financial Services	16.3%	10.7%
Industrials	14.8%	8.1%
Consumer Cyclical	13.3%	10.1%
Healthcare	12.5%	8.4%
Real Estate	7.1%	1.7%
Energy	6.6%	3.2%
Basic Materials	4.6%	1.8%
Utilities	3.3%	2.0%
Consumer Defensive	2.8%	4.4%
Communication Services	2.0%	10.9%

Return for Risk

BKSE vs. BKLC — Risk / Return Rank

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

BKSE

BKSE Risk / Return Rank: 68
BKSE Sharpe Ratio Rank: 65
BKSE Sortino Ratio Rank: 67
BKSE Omega Ratio Rank: 58
BKSE Calmar Ratio Rank: 77
BKSE Martin Ratio Rank: 75

BKLC

BKLC Risk / Return Rank: 58
BKLC Sharpe Ratio Rank: 58
BKLC Sortino Ratio Rank: 54
BKLC Omega Ratio Rank: 57
BKLC Calmar Ratio Rank: 55
BKLC Martin Ratio Rank: 66

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.

BKSE vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon US Small Cap Core Equity ETF (BKSE) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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.

	BKSE	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.87	+0.11
Sortino ratio: Return per unit of downside risk	2.85	2.52	+0.33
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.73	2.62	+1.11
Martin ratio: Return relative to average drawdown	13.06	11.54	+1.52

BKSE vs. BKLC - Sharpe Ratio Comparison

The current BKSE Sharpe Ratio is 1.98, which is comparable to the BKLC Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of BKSE and BKLC, 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

BKSE vs. BKLC - Drawdown Comparison

The maximum BKSE drawdown since its inception was -29.08%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for BKSE and BKLC.

Drawdown Indicators

	BKSE	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-29.08%	-26.14%	-2.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	-9.10%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-26.76%	-19.05%	-7.71%
Max Drawdown (5Y) Largest decline over 5 years	-29.08%	-26.14%	-2.94%
Current Drawdown Current decline from peak	-0.10%	-3.16%	+3.06%
Average Drawdown Average peak-to-trough decline	-8.99%	-5.24%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.07%	+0.61%

Volatility

BKSE vs. BKLC - Volatility Comparison

The current volatility for BNY Mellon US Small Cap Core Equity ETF (BKSE) is 4.67%, while BNY Mellon US Large Cap Core Equity ETF (BKLC) has a volatility of 5.04%. This indicates that BKSE experiences smaller price fluctuations and is considered to be less risky than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKSE	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	5.04%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	10.09%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.77%	12.83%	+4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.46%	17.28%	+4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.26%	17.47%	+4.79%

BKSE vs. BKLC - Expense Ratio Comparison

BKSE has a 0.04% expense ratio, which is higher than BKLC's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKSE vs. BKLC - Dividend Comparison

BKSE's dividend yield for the trailing twelve months is around 1.13%, more than BKLC's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKLC BNY Mellon US Large Cap Core Equity ETF	1.04%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%
BKSE BNY Mellon US Small Cap Core Equity ETF	1.13%	1.26%	1.55%	1.38%	1.50%	1.17%	0.82%

Frequently Asked Questions

Can I hold both BKSE and BKLC in my portfolio?

BKSE and BKLC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKSE or BKLC?

BKLC has higher volatility (5.04%) compared to BKSE (4.67%). In terms of maximum drawdown, BKSE dropped -29.08% vs BKLC's -26.14%.

Which ETF is better, BKSE or BKLC?

On 5-year performance, BKLC leads with 13.37% vs 7.44% for BKSE. On fees, BKLC is cheaper at 0.00% per year. On volatility, BKSE has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKSE or BKLC?

Over the 5-year period, BKLC has performed better with a 13.37% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKSE or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 0.04% for BKSE.

Which ETF pays a higher dividend yield, BKSE or BKLC?

BKSE has the higher dividend yield at 1.13%, compared with 1.04% for BKLC.

What is the main difference between BKSE and BKLC?

BKSE is categorized as Small Cap Growth Equities, while BKLC is Large Cap Blend Equities. BKSE tracks Morningstar US Small Cap Index, while BKLC tracks Morningstar US Large Cap Index. Their fees differ too: 0.04% for BKSE and 0.00% for BKLC.

Which has better risk-adjusted returns?

BKSE currently has the higher Sharpe Ratio (1.98 vs 1.87), 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.