USRD vs. BLCR

Last updated Jun 4, 2026

USRD (Themes US R&D Champions ETF) and BLCR (Blackrock Large Cap Core ETF) are both Large Cap Blend Equities funds. USRD is passively managed, while BLCR is actively managed. Over the past year, USRD returned 31.55% vs 47.09% for BLCR. Their correlation of 0.84 suggests significant overlap in exposure. USRD charges 0.29%/yr vs 0.36%/yr for BLCR.

Performance

USRD vs. BLCR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US R&D Champions ETF (USRD) and Blackrock Large Cap Core ETF (BLCR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with USRD having a 19.83% return and BLCR slightly lower at 19.56%.

USRD

• 1D: -1.22%
• 1M: 13.66%
• YTD: 19.83%
• 6M: 18.09%
• 1Y: 31.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLCR

• 1D: -0.33%
• 1M: 6.16%
• YTD: 19.56%
• 6M: 21.53%
• 1Y: 47.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USRD vs. BLCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USRD Themes US R&D Champions ETF	19.83%	12.44%	15.53%	3.66%
BLCR Blackrock Large Cap Core ETF	19.56%	30.93%	17.07%	2.85%

Correlation

The correlation between USRD and BLCR is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.84

The correlation between USRD and BLCR has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

USRD vs. BLCR - Sectors Allocation Comparison

Sectors	USRD	BLCR
Technology	58.5%	35.7%
Healthcare	14.4%	7.6%
Industrials	9.3%	13.5%
Communication Services	7.2%	11.0%
Consumer Cyclical	5.4%	10.9%
Basic Materials	2.1%	2.2%
Consumer Defensive	1.9%	-
Real Estate	1.1%	-
Energy	-	2.2%
Financial Services	-	12.1%
Utilities	-	1.6%

Return for Risk

USRD vs. BLCR — Risk / Return Rank

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

USRD

USRD Risk / Return Rank: 52
USRD Sharpe Ratio Rank: 56
USRD Sortino Ratio Rank: 55
USRD Omega Ratio Rank: 53
USRD Calmar Ratio Rank: 48
USRD Martin Ratio Rank: 45

BLCR

BLCR Risk / Return Rank: 87
BLCR Sharpe Ratio Rank: 89
BLCR Sortino Ratio Rank: 87
BLCR Omega Ratio Rank: 85
BLCR Calmar Ratio Rank: 84
BLCR Martin Ratio Rank: 91

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.

USRD vs. BLCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US R&D Champions ETF (USRD) and Blackrock Large Cap Core ETF (BLCR). 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.

	USRD	BLCR	Difference
Sharpe ratio: Return per unit of total volatility	1.89	3.05	-1.16
Sortino ratio: Return per unit of downside risk	2.63	4.02	-1.39
Omega ratio: Gain probability vs. loss probability	1.33	1.52	-0.19
Calmar ratio: Return relative to maximum drawdown	2.35	4.61	-2.26
Martin ratio: Return relative to average drawdown	7.30	21.86	-14.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USRD vs. BLCR - Sharpe Ratio Comparison

The current USRD Sharpe Ratio is 1.89, which is lower than the BLCR Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of USRD and BLCR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USRD	BLCR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	3.05	-1.16
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	1.90	-0.77

Drawdowns

USRD vs. BLCR - Drawdown Comparison

The maximum USRD drawdown since its inception was -23.79%, which is greater than BLCR's maximum drawdown of -21.29%. Use the drawdown chart below to compare losses from any high point for USRD and BLCR.

Drawdown Indicators

	USRD	BLCR	Difference
Max Drawdown Largest peak-to-trough decline	-23.79%	-21.29%	-2.50%
Max Drawdown (1Y) Largest decline over 1 year	-13.49%	-10.26%	-3.23%
Current Drawdown Current decline from peak	-1.22%	-0.37%	-0.85%
Average Drawdown Average peak-to-trough decline	-3.70%	-2.19%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	2.16%	+2.17%

Volatility

USRD vs. BLCR - Volatility Comparison

Themes US R&D Champions ETF (USRD) has a higher volatility of 5.55% compared to Blackrock Large Cap Core ETF (BLCR) at 4.45%. This indicates that USRD's price experiences larger fluctuations and is considered to be riskier than BLCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USRD	BLCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	4.45%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	13.33%	12.24%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	15.54%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	17.47%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.24%	17.47%	+1.77%

USRD vs. BLCR - Expense Ratio Comparison

USRD has a 0.29% expense ratio, which is lower than BLCR's 0.36% expense ratio.

Dividends

USRD vs. BLCR - Dividend Comparison

USRD's dividend yield for the trailing twelve months is around 0.35%, more than BLCR's 0.23% yield.

Position	TTM	2025	2024	2023
BLCR Blackrock Large Cap Core ETF	0.23%	0.33%	0.75%	0.13%
USRD Themes US R&D Champions ETF	0.35%	0.42%	2.44%	0.00%

Frequently Asked Questions

Can I hold both USRD and BLCR in my portfolio?

USRD and BLCR have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USRD or BLCR?

USRD has higher volatility (5.55%) compared to BLCR (4.45%). In terms of maximum drawdown, USRD dropped -23.79% vs BLCR's -21.29%.

Which ETF is better, USRD or BLCR?

On 1-year performance, BLCR leads with 47.09% vs 31.55% for USRD. On fees, USRD is cheaper at 0.29% per year. On volatility, BLCR has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USRD or BLCR?

Over the 1-year period, BLCR has performed better with a 47.09% return vs 31.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USRD or BLCR?

USRD is cheaper with a 0.29% expense ratio, compared with 0.36% for BLCR.

Which ETF pays a higher dividend yield, USRD or BLCR?

USRD has the higher dividend yield at 0.35%, compared with 0.23% for BLCR.

What is the main difference between USRD and BLCR?

They also come from different issuers: Themes and BlackRock. Their fees differ too: 0.29% for USRD and 0.36% for BLCR.

Which has better risk-adjusted returns?

BLCR currently has the higher Sharpe Ratio (3.05 vs 1.89), 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.