At a glance
BLCR charges 0.36% a year, below the 0.56% average of the 8 funds most like it (the cheapest of 9). It has $6.44B in assets, the largest of that group; it paid 0.34% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +18.6% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +26.9% a year. Its ten largest positions make up 45.5% of the fund, out of 43 in all.
The short version
iShares Large Cap Core Active ETF (BLCR) is an actively managed BlackRock fund. Its managers pick about 43 mostly US large-company stocks instead of tracking an index. Its expense ratio of 0.36% is the lowest among eight similar active funds, which average about 0.56%. It is also concentrated: the 10 largest holdings, led by Amazon and NVIDIA, made up about 45% of assets as of July 31, 2026.
Price history
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BLCR +18.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BLCR official prospectus, to Dec 31, 2024 | — | +17.20% | — | — | — | +24.97% |
| BLCR price data to Oct 27, 2026 | +15.7% | +18.6% | +26.9% | — | — | +26.5% |
- Over the year to Oct 27, 2026, BLCR returned +18.6%, 1st of 9 among similar funds.
- Its worst full calendar year was 2024 (+17.1%); its best was 2025 (+30.9%).
- The deepest fall in its price history was 21.3% (Jan 23, 2025 to Apr 8, 2025), recovered by Jun 4, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.7% | — |
| 2025 | +30.9% | — |
| 2024 | +17.1% | +17.20% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1340 | |
| 2025 | $0.1400 | -44.0% |
| 2024 | $0.2500 |
What's inside
As of Jul 31, 2026, the fund held 43 securities; the ten largest made up 45.49% of assets, and 2.91% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Amazon.com Inc | 7.45% | |
| NVIDIA Corp | 6.46% | |
| Microsoft Corp | 4.99% | |
| Alphabet Inc | 4.96% | |
| Meta Platforms Inc | 4.09% | |
| Visa Inc | 4.02% | |
| Cardinal Health Inc | 3.61% | |
| ATI Inc | 3.48% | |
| Apple Inc | 3.30% | |
| WESCO International Inc | 3.13% | |
| Micron Technology Inc | 3.09% | |
| Howmet Aerospace Inc | 2.88% | |
| Advanced Micro Devices Inc | 2.74% | |
| Hasbro Inc | 2.53% | |
| Air Products and Chemicals Inc | 2.35% |
By country
United States 91.89%Singapore 2.13%Ireland 1.92%United Kingdom 1.39%By asset type
Stocks 97.33%By sector
Sectors of the companies held, for the 70.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.20B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.13%, -0.67%, -3.55%.
How it works
BLCR does not follow an index. BlackRock Fund Advisors (BFA) relies on its portfolio managers' judgment to find "attractively valued companies" that it sees as good long-term opportunities. The goal is to maximize total return, meaning price gains plus dividends. At least 80% of net assets must go into large-company stocks. These are defined as companies within the size range of the Russell 1000 Index, which ran from about $1.03 billion to $4.94 trillion as of October 31, 2025. The fund mainly holds US stocks. It may put up to 25% of total assets into foreign companies and American Depositary Receipts (ADRs), which are US-traded shares of foreign firms.
There is no set formula for weighting or rebalancing. The managers decide how much to hold of each stock. The fund is legally non-diversified, so it can take larger positions in fewer companies. As of July 31, 2026, it held 43 stocks, led by Amazon (7.5%), NVIDIA (6.5%), Microsoft (5.0%) and Alphabet (5.0%). Portfolio turnover was 94%, which means heavy trading. Trading costs are not included in the expense ratio.
The fund may also use options, futures, swaps and forwards to seek extra return or to hedge. It can buy IPOs and convertible securities, and it can lend up to one-third of its assets. The July 31, 2026 holdings report showed no derivatives.
What it really costs
- BLCR charges 0.36% a year, versus an average of 0.56% for the similar funds below (1st of 9, cheapest first).
- Of that, 0.38% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.02% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $37 in the first year and $478 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BLCR | $37 | $120 | $211 | $478 |
In a retirement portfolio
It is a concentrated, non-diversified active stock fund with a beta of 1.25 and about three years of history, so it may work better alongside a broad core fund than in place of one.
BLCR could add a low-cost actively managed stock sleeve, but its record is short. It launched on October 24, 2023, so it missed the 2008, 2020 and 2022 sell-offs. Its weakest full calendar year, 2024, was still a 17.1% gain. Its deepest drop was 21.3%, from January 23 to April 8, 2025. It regained that peak by June 4, 2025. Its beta was 1.25 for the year to October 27, 2026, which means it tended to swing about 25% more than the broad market. Someone forced to sell in a slump could lock in bigger losses. Income is minor: the yield was 0.34%, paid quarterly. In the SEC's standard $10,000 example, costs are $37 for one year and $478 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want active large-cap stock picking for 0.36% a year, below the roughly 0.56% average of similar active funds.
- Those comfortable with about 43 stocks, where the top 10, led by Amazon, NVIDIA, Microsoft and Alphabet, held about 45% as of July 31, 2026.
- People who want a growth-focused satellite position and don't rely on its income, since the yield was 0.34% as of October 27, 2026.
Look elsewhere if
- Investors who want broad index-tracking exposure. BLCR is non-diversified and depends on its managers' stock picks, with 94% portfolio turnover.
- Retirees who need meaningful dividend income from a stock fund. BLCR pays quarterly, but its trailing yield was only 0.34%.
- Those who want a record through bear markets. BLCR launched in October 2023, after the 2008, 2020 and 2022 downturns, and its beta was 1.25.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BLCR this fund | — | 0.36% | $6.44B | +18.6% | +26.9% |
| BGRO iShares Large Cap Growth Active ETF | 43% | 0.55% | $8.9M | +5.7% | — |
| PGRO Putnam Focused Large Cap Growth ETF | 39% | 0.56% | $212.1M | +3.1% | +24.6% |
| TCHP T. Rowe Price Blue Chip Growth ETF | 38% | 0.57% | $2.16B | -1.2% | +23.5% |
| NBGX Neuberger Berman Growth ETF | 37% | 0.44% | $14.9M | +4.4% | — |
| WINN Harbor Long-Term Growers ETF | 37% | 0.57% | $1.13B | +5.5% | +25.4% |
| CARK CastleArk Large Growth ETF | 35% | 0.54% | $319.2M | +4.4% | — |
| IWFG NYLI Winslow Focused Large Cap Growth ETF | 35% | 0.65% | $60.5M | -2.6% | +23.6% |
Questions investors ask
Is BLCR an index fund or actively managed?
BLCR is actively managed and does not track an index. BlackRock's portfolio managers choose stocks they see as attractively valued long-term opportunities, with the aim of maximizing total return. The Russell 1000 Index is used only to define which companies count as large caps for the fund's rule of keeping at least 80% of net assets in large-company stocks. As of July 31, 2026, it held 43 stocks. The prospectus listed portfolio turnover of 94%.
What is the expense ratio of BLCR?
BLCR's expense ratio is 0.36%, according to the prospectus filed November 26, 2025. That is a 0.38% management fee minus a 0.02% fee waiver. Eight similar active large-cap funds, matched by shared holdings, average about 0.56%, and BLCR's cost is the lowest of the group. In the SEC's standard example of $10,000 earning 5% a year, costs total $37 after one year, $211 after five years and $478 after 10 years.
Does BLCR pay dividends?
Yes, BLCR pays dividends quarterly, but they are small. In the 12 months to October 27, 2026, it paid about $0.164 per share, a trailing yield of 0.34%. That matches the fund's stated goal of maximizing total return rather than producing income. Most of any return has come from price changes. Investors who want steady cash from a stock fund would get little of it here.
BLCR vs BGRO: what's the difference?
Both are actively managed iShares large-cap ETFs, and their holdings overlap by about 43%, based on the latest N-PORT reports. BLCR is a core fund that looks for attractively valued companies, while BGRO, the iShares Large Cap Growth Active ETF, focuses on growth. BLCR costs 0.36% a year and BGRO costs 0.55%. In the year to October 27, 2026, BLCR returned 18.6% and BGRO returned 5.7%. BLCR is also much larger, with about $6.4 billion in net assets against about $8.9 million for BGRO.
Is BLCR riskier than the stock market?
BLCR has been somewhat riskier than the broad market. Its beta was 1.25 for the year to October 27, 2026, so it tended to move more than the market. Its volatility, a measure of how widely returns swing, was 17.3%. Its deepest drop was 21.3%, from January 23 to April 8, 2025, and it recovered by June 4, 2025. It is non-diversified and launched in October 2023, so it has no record in the 2008, 2020 or 2022 bear markets.