Summary

• The iShares Large Cap Core Active ETF is a highly concentrated, actively managed fund that has outperformed many similar ETFs since its inception in October 2023.
• BLCR's managers intentionally deviate from consensus, focusing on long-term earnings growth and momentum, differentiating it from passive Index funds.
• Fundamental analysis reveals an expensive portfolio, both relative to its peers and itself, based on its 5Y average P/E. Quality is also behind another active BlackRock ETF that I prefer.
• Still, BLCR deserves a spot on your watchlist based on its strong returns and differentiated results. An analysis comparing it with THRO, DYNF, CGGR, and IWB is to follow.

Investment Thesis

This article initiates my coverage of the iShares Large Cap Core Active ETF (BLCR), a highly concentrated fund that's outperformed the iShares Russell 1000 ETF (IWB) since its inception but displays several risky tendencies that

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