Fund Evaluator:

BNY Mellon Large Cap Equity A Overview

BNY Mellon Large Cap Equity A (DLQAX) is an actively managed U.S. Equity Large Blend fund. BNY Mellon launched the fund in 1992.

The investment seeks to provide long-term capital appreciation. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large capitalization companies. The manager considers large-cap companies to be those companies with market capitalizations of $5 billion or more at the time of purchase. The fund invests primarily in equity securities of U.S. issuers, but may invest in the equity securities of foreign issuers, including those in emerging market countries.

About BNY Mellon Large Cap Equity A (DLQAX)

There are 6 members of the management team with an average tenure of 2.55 years: John Bailer (2023), Brian Ferguson (2023), Julianne McHugh (2025), Karen Miki Behr (2023), Keith Howell Jr. (2023), Peter Goslin (2023). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. BNY Mellon Large Cap Equity A has 93 securities in its portfolio. The top 10 holdings constitute 37.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

BNY Mellon Large Cap Equity A is part of the Equity global asset class and is within the U.S. Equity fund group. BNY Mellon Large Cap Equity A has 3.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.1%. There is 3.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). BNY Mellon Large Cap Equity A has 1.6% of the portfolio in cash.

Assets Under Management

The fund has $15 million in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

DLQAX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BNY Mellon Large Cap Equity A expense ratio is high compared to funds in the Large Blend category. BNY Mellon Large Cap Equity A has an expense ratio of 1.00%, which is 23% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. BNY Mellon Large Cap Equity A has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of July 2026, BNY Mellon Large Cap Equity A returned 1.6%, which earned it a grade of B, as the Large Blend category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

BNY Mellon Large Cap Equity A has a trailing yield of 0.39%, which is below the 0.56% category average.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

BNY Mellon Large Cap Equity A Grades

Year to date, the fund has returned 7.4%, 1.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.6% over the past year (grade of D), 16.7% over the past three years (grade of D) and 8.5% per year over the past five years (grade of F) and 13.3% per year over the past 10 years (grade of D).

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