BLCV vs PVAL
iShares Large Cap Value Active ETF vs Putnam Focused Large Cap Value ETF
Which is better, BLCV or PVAL?
PVAL has been ahead.
BLCV has a lower expense ratio. PVAL led over 1Y, 3Y and the full window. BLCV is less concentrated, with 42.1% of the fund in its ten largest positions against 42.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BLCV | PVAL |
|---|---|---|
| Expense Ratio | 0.45%Best | 0.55% |
| AUM | $339M | $14.4B |
| Dividend Yield | 1.21% | 0.89% |
| Holdings | 56 | 93 |
| YTD Return | +13.01% | +18.30%Best |
| 1Y Return | +21.44% | +29.64%Best |
| 3Y Return (annualized) | +19.71% | +24.26%Best |
| 5Y Return (annualized) | - | +17.02% |
| Volatility (annualized) | 13.6% | 11.9%Best |
| Max Drawdown | -13.4%Best | -15.4% |
| $10,000 over 3.4 years | $17,819 | $20,717Best |
| Top 10 Weight | 42.1%Best | 42.7% |
| Fund Family | BlackRock, Inc. (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 19, 2023 | May 25, 2021 |
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: May 23, 2023 to Oct 13, 2026 (3.4 years).
BLCV vs PVAL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.4 years both funds cover.
BLCV vs PVAL Performance
iShares Large Cap Value Active ETF (BLCV) is an ETF from BlackRock, Inc. (US) and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year BLCV returned +21.44% while PVAL returned +29.64%. Year to date, BLCV is up 13.01% versus a gain of 18.30% for PVAL.
Over three years, BLCV compounded at +19.71% per year against +24.26% for PVAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BLCV has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 11.9% for PVAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.4% for BLCV and -15.4% for PVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BLCV charges 0.45% per year while PVAL charges 0.55%. On a $10,000 position that is $45 vs $55 annually, a gap of $10 per year that compounds over a long holding period. On income, BLCV currently yields 1.21% against 0.89% for PVAL.
Holdings Overlap
33.1% of BLCV's money is in holdings PVAL also owns. 32.8% of PVAL's money is in holdings BLCV also owns.
The two portfolios partly overlap.
8 positions in common, counted across the 55 positions we hold weights for in BLCV and 45 in PVAL, against full books of 56 and 93.
What only one of them owns
Our book lists 34 positions for PVAL that do not appear in our book for BLCV (63.5% of the fund), and 46 for BLCV that do not appear in PVAL (64.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BLCV | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 8.30% | 9.26% | 0.96% |
| AMZNAmazon.Com Inc | 7.80% | 4.70% | 3.10% |
| AAPLApple, Inc | 5.77% | 6.69% | 0.92% |
| SCHWSchwab Strategic T | 3.19% | 3.24% | 0.05% |
| CCitigroup Inc. | 2.22% | 3.24% | 1.02% |
| UNHUnitedhealth Group Incorporated | 2.10% | 2.22% | 0.12% |
| COFCapital One Financial Corp. | 1.50% | 2.16% | 0.66% |
| FDXFedex Corp | 2.25% | 1.26% | 0.99% |
33.1% of BLCV is already inside PVAL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BLCV or PVAL?
BLCV has an expense ratio of 0.45% while PVAL charges 0.55%. BLCV is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, BLCV or PVAL?
Over the past year BLCV returned +21.44% vs +29.64% for PVAL, so PVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BLCV or PVAL?
BLCV has been the more volatile fund at 13.6% annualized versus 11.9% for PVAL. Worst drawdown: BLCV -13.4% vs PVAL -15.4%.
Should I hold both BLCV and PVAL?
BLCV and PVAL have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BLCV and PVAL?
33.1% of BLCV's money is in holdings PVAL also owns. 32.8% of PVAL's is in holdings BLCV also owns. They hold 8 positions in common, counted across the 55 positions we hold weights for in BLCV and 45 in PVAL.
Which pays a higher dividend, BLCV or PVAL?
BLCV yields 1.21% while PVAL yields 0.89%, so BLCV currently pays the higher dividend yield.
Is PVAL better than BLCV?
BLCV has a lower expense ratio. PVAL led over 1Y, 3Y and the full window. BLCV is less concentrated, with 42.1% of the fund in its ten largest positions against 42.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.