SPYM vs. BKLC

Last updated Jun 24, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 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, SPYM returned 13.13%/yr vs 13.37%/yr for BKLC. With a 0.98 correlation, they move nearly in lockstep. SPYM charges 0.02%/yr vs 0.00%/yr for BKLC.

Performance

SPYM vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) and BNY Mellon US Large Cap Core Equity ETF (BKLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPYM having a 8.21% return and BKLC slightly higher at 8.23%.

SPYM

• 1D: -1.44%
• 1M: -1.32%
• YTD: 8.21%
• 6M: 7.24%
• 1Y: 23.73%
• 3Y*: 20.77%
• 5Y*: 13.13%
• 10Y*: 15.61%

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)

SPYM vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPYM State Street SPDR Portfolio S&P 500 ETF	8.21%	17.79%	25.00%	26.24%	-18.09%	28.78%	38.26%
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 SPYM and BKLC 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	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.98

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

SPYM vs. BKLC - Sectors Allocation Comparison

Sectors	SPYM	BKLC
Technology	38.0%	38.8%
Financial Services	11.9%	10.7%
Communication Services	10.1%	10.9%
Consumer Cyclical	9.4%	10.1%
Healthcare	8.5%	8.4%
Industrials	8.0%	8.1%
Consumer Defensive	4.6%	4.4%
Energy	3.1%	3.2%
Utilities	2.6%	2.0%
Real Estate	1.8%	1.7%
Basic Materials	1.8%	1.8%

Return for Risk

SPYM vs. BKLC — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 59
SPYM Sharpe Ratio Rank: 59
SPYM Sortino Ratio Rank: 56
SPYM Omega Ratio Rank: 58
SPYM Calmar Ratio Rank: 56
SPYM Martin Ratio Rank: 67

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.

SPYM vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) 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.

	SPYM	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.87	+0.05
Sortino ratio: Return per unit of downside risk	2.61	2.52	+0.09
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	2.68	2.62	+0.05
Martin ratio: Return relative to average drawdown	11.98	11.54	+0.44

SPYM vs. BKLC - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 1.92, which is comparable to the BKLC Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of SPYM 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

SPYM vs. BKLC - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for SPYM and BKLC.

Drawdown Indicators

	SPYM	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-26.14%	-28.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-9.10%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-19.05%	+0.33%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-26.14%	+1.66%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	—	—
Current Drawdown Current decline from peak	-3.14%	-3.16%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.14%	-5.24%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.07%	-0.08%

Volatility

SPYM vs. BKLC - Volatility Comparison

State Street SPDR Portfolio S&P 500 ETF (SPYM) and BNY Mellon US Large Cap Core Equity ETF (BKLC) have volatilities of 4.83% and 5.04%, 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

	SPYM	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	5.04%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	10.09%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.46%	12.83%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	17.28%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	17.47%	+0.56%

SPYM vs. BKLC - Expense Ratio Comparison

SPYM has a 0.02% 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

SPYM vs. BKLC - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.30%, more than BKLC's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLC BNY Mellon US Large Cap Core Equity ETF	1.04%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.30%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SPYM and BKLC in my portfolio?

With a correlation of 0.99, SPYM 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, SPYM or BKLC?

BKLC has higher volatility (5.04%) compared to SPYM (4.83%). In terms of maximum drawdown, SPYM dropped -54.46% vs BKLC's -26.14%.

Which ETF is better, SPYM or BKLC?

On 5-year performance, BKLC leads with 13.37% vs 13.13% for SPYM. On fees, BKLC is cheaper at 0.00% per year. On volatility, SPYM has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYM or BKLC?

Over the 5-year period, BKLC has performed better with a 13.37% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYM or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 0.02% for SPYM.

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

SPYM has the higher dividend yield at 1.30%, compared with 1.04% for BKLC.

What is the main difference between SPYM and BKLC?

SPYM is categorized as S&P 500, while BKLC is Large Cap Blend Equities. SPYM tracks S&P 500 Index, while BKLC tracks Morningstar US Large Cap Index. They also come from different issuers: State Street and BNY Mellon. Their fees differ too: 0.02% for SPYM and 0.00% for BKLC.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (1.92 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.