BUFP vs. BKLC

Last updated Jun 23, 2026

BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - BUFP is a Defined Outcome fund tracking the S&P 500, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. Both are passively managed. Over the past year, BUFP returned 17.31% vs 26.77% for BKLC. Their correlation of 0.92 suggests significant overlap in exposure. BUFP charges 0.50%/yr vs 0.00%/yr for BKLC.

Performance

BUFP vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) 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, BUFP achieves a 6.33% return, which is significantly lower than BKLC's 9.77% return.

BUFP

• 1D: 0.28%
• 1M: 0.57%
• YTD: 6.33%
• 6M: 6.42%
• 1Y: 17.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKLC

• 1D: -0.36%
• 1M: 0.24%
• YTD: 9.77%
• 6M: 9.28%
• 1Y: 26.77%
• 3Y*: 22.14%
• 5Y*: 13.82%
• 10Y*: —

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

BUFP vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	6.33%	12.92%	6.30%
BKLC BNY Mellon US Large Cap Core Equity ETF	9.77%	18.06%	9.95%

Correlation

The correlation between BUFP and BKLC is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024	0.92

The correlation between BUFP and BKLC has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

BUFP vs. BKLC - Sectors Allocation Comparison

Sectors	BUFP	BKLC
Technology	38.4%	38.8%
Financial Services	11.0%	10.7%
Communication Services	10.8%	10.9%
Consumer Cyclical	10.0%	10.1%
Healthcare	8.4%	8.4%
Industrials	7.9%	8.1%
Consumer Defensive	4.6%	4.4%
Energy	3.2%	3.2%
Utilities	2.1%	2.0%
Real Estate	1.8%	1.7%
Basic Materials	1.7%	1.8%

Return for Risk

BUFP vs. BKLC — Risk / Return Rank

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

BUFP

BUFP Risk / Return Rank: 88
BUFP Sharpe Ratio Rank: 87
BUFP Sortino Ratio Rank: 90
BUFP Omega Ratio Rank: 91
BUFP Calmar Ratio Rank: 79
BUFP Martin Ratio Rank: 92

BKLC

BKLC Risk / Return Rank: 66
BKLC Sharpe Ratio Rank: 67
BKLC Sortino Ratio Rank: 63
BKLC Omega Ratio Rank: 67
BKLC Calmar Ratio Rank: 61
BKLC Martin Ratio Rank: 72

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.

BUFP vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) 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.

	BUFP	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.11	+0.61
Sortino ratio: Return per unit of downside risk	4.02	2.82	+1.20
Omega ratio: Gain probability vs. loss probability	1.57	1.38	+0.18
Calmar ratio: Return relative to maximum drawdown	3.94	2.95	+0.99
Martin ratio: Return relative to average drawdown	21.61	13.05	+8.56

BUFP vs. BKLC - Sharpe Ratio Comparison

The current BUFP Sharpe Ratio is 2.72, which is comparable to the BKLC Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of BUFP 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

BUFP vs. BKLC - Drawdown Comparison

The maximum BUFP drawdown since its inception was -11.98%, smaller than the maximum BKLC drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for BUFP and BKLC.

Drawdown Indicators

	BUFP	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-11.98%	-26.14%	+14.16%
Max Drawdown (1Y) Largest decline over 1 year	-4.41%	-9.10%	+4.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.14%	—
Current Drawdown Current decline from peak	-0.19%	-1.78%	+1.59%
Average Drawdown Average peak-to-trough decline	-0.99%	-5.24%	+4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	2.06%	-1.26%

Volatility

BUFP vs. BKLC - Volatility Comparison

The current volatility for PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) is 1.99%, while BNY Mellon US Large Cap Core Equity ETF (BKLC) has a volatility of 4.83%. This indicates that BUFP 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

	BUFP	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.99%	4.83%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	5.11%	10.00%	-4.89%
Volatility (1Y) Calculated over the trailing 1-year period	6.40%	12.77%	-6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	17.27%	-7.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.46%	17.47%	-8.01%

BUFP vs. BKLC - Expense Ratio Comparison

BUFP has a 0.50% expense ratio, which is higher than BKLC's 0.00% expense ratio.

Dividends

BUFP vs. BKLC - Dividend Comparison

BUFP's dividend yield for the trailing twelve months is around 0.01%, less than BKLC's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKLC BNY Mellon US Large Cap Core Equity ETF	1.02%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUFP and BKLC in my portfolio?

With a correlation of 0.92, BUFP and BKLC 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, BUFP or BKLC?

BKLC has higher volatility (4.83%) compared to BUFP (1.99%). In terms of maximum drawdown, BUFP dropped -11.98% vs BKLC's -26.14%.

Which ETF is better, BUFP or BKLC?

On 1-year performance, BKLC leads with 26.77% vs 17.31% for BUFP. On fees, BKLC is cheaper at 0.00% per year. On volatility, BUFP has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFP or BKLC?

Over the 1-year period, BKLC has performed better with a 26.77% return vs 17.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFP or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 0.50% for BUFP.

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

BKLC has the higher dividend yield at 1.02%, compared with 0.01% for BUFP.

What is the main difference between BUFP and BKLC?

BUFP is categorized as Defined Outcome, while BKLC is Large Cap Blend Equities. BUFP tracks S&P 500, while BKLC tracks Morningstar US Large Cap Index. They also come from different issuers: PGIM and BNY Mellon. Their fees differ too: 0.50% for BUFP and 0.00% for BKLC.

Which has better risk-adjusted returns?

BUFP currently has the higher Sharpe Ratio (2.72 vs 2.11), 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.