ETF Launches: BKLC

BNY Mellon enters the ETF space with a fund charging an expense ratio of zero.

Reviewed by: Heather Bell
Edited by: Heather Bell


BNY Mellon US Large Cap Core Equity ETF (BKLC)
Firm launched a total of nine ETFs at rock bottom prices

After years of being best known as a behind-the-scenes player in the ETF industry, providing everything from indexes to custody services, in April, BNY Mellon issued its own ETFs. The lineup includes the BNY Mellon US Large Cap Core Equity ETF (BKLC), which comes with the hard-to-beat expense ratio of 0.00%.

There are no waivers to the fee, so the genuine cost of the ETF is zero.

All of the ETFs in the lineup list on the NYSE Arca and are lower or on par with the lowest prices in their respective asset classes. The funds that launched are all plain vanilla, cap-weighted ETFs that track Morningstar indexes.

The underlying benchmark for BKLC covers large cap stocks and REITs, screening out the bottom 25% of securities of its selection universe based on liquidity. The index is reconstituted semiannually.

BKLC’s top holdings include Microsoft, Apple and The complete roster of holdings includes more than 200 large cap securities.

BNY Mellon has made a bold move, similar to J.P. Morgan launching its low-cost BetaBuilders ETFs. However, like J.P. Morgan, it has the brand name and depth of experience to make a successful go of it in the ETF space.

Source: Data and information as of 4/30/2020.
ETF Filings sidebar covers launches and closures for the month of April 2020.


Heather Bell is a former managing editor of She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.