FLV vs PVAL
American Century Focused Large Cap Value ETF vs Putnam Focused Large Cap Value ETF
Which is better, FLV or PVAL?
PVAL has been ahead.
FLV has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. FLV is less concentrated, with 32.6% 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 | FLV | PVAL |
|---|---|---|
| Expense Ratio | 0.42%Best | 0.55% |
| AUM | $379M | $14.9B |
| Dividend Yield | 1.73% | 0.92% |
| Holdings | 56 | 93 |
| YTD Return | +13.86% | +18.64%Best |
| 1Y Return | +18.40% | +27.74%Best |
| 3Y Return (annualized) | +16.78% | +24.33%Best |
| 5Y Return (annualized) | +9.99% | +16.55%Best |
| Volatility (annualized) | 13.1%Best | 14.6% |
| Max Drawdown | -15.1%Best | -16.6% |
| $10,000 over 5 years | $16,098 | $21,506Best |
| Top 10 Weight | 32.6%Best | 42.7% |
| Fund Family | American Century ETFs | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 31, 2020 | May 25, 2021 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2021 to Oct 15, 2026 (5.4 years).
FLV 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 5.4 years both funds cover.
FLV vs PVAL Performance
American Century Focused Large Cap Value ETF (FLV) is an ETF from American Century ETFs and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year FLV returned +18.40% while PVAL returned +27.74%. Year to date, FLV is up 13.86% versus a gain of 18.64% for PVAL.
Over three years, FLV compounded at +16.78% per year against +24.33% for PVAL; over five years the annualized figures are +9.99% and +16.55% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PVAL has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 13.1% for FLV. 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 -15.1% for FLV and -16.6% 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FLV charges 0.42% per year while PVAL charges 0.55%. On a $10,000 position that is $42 vs $55 annually, a gap of $13 per year that compounds over a long holding period. On income, FLV currently yields 1.73% against 0.92% for PVAL.
Holdings Overlap
19.7% of FLV's money is in holdings PVAL also owns. 31.5% of PVAL's money is in holdings FLV also owns.
The two portfolios partly overlap.
The two holdings books were reported 100 days apart, FLV as of Jun 30, 2026 and PVAL as of Oct 8, 2026, so some of the difference between them is the time between the two reports rather than the funds.
8 positions in common, counted across the 52 positions we hold weights for in FLV 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 FLV (64.8% of the fund), and 39 for FLV that do not appear in PVAL (73.5%).
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 FLV | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 3.46% | 9.26% | 5.80% |
| AAPLApple, Inc | 2.58% | 6.69% | 4.11% |
| AMZNAmazon.Com Inc | 3.07% | 4.70% | 1.63% |
| SCHWSchwab Strategic T | 2.07% | 3.24% | 1.17% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.82% | 2.88% | 1.06% |
| UNHUnitedhealth Group Incorporated | 2.22% | 2.22% | 0.00% |
| BDXBecton Dickinson And Co. | 3.20% | 0.89% | 2.31% |
| PHMPultegroup Inc. | 1.26% | 1.65% | 0.39% |
31.5% of PVAL is already inside FLV.
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, FLV or PVAL?
FLV has an expense ratio of 0.42% while PVAL charges 0.55%. FLV is the cheaper option, by $13 a year on a $10,000 investment.
Which performed better, FLV or PVAL?
Over the past year FLV returned +18.40% vs +27.74% 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, FLV or PVAL?
PVAL has been the more volatile fund at 14.6% annualized versus 13.1% for FLV. Worst drawdown: FLV -15.1% vs PVAL -16.6%.
Should I hold both FLV and PVAL?
FLV and PVAL have a monthly-return correlation of 0.89, 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 FLV and PVAL?
31.5% of PVAL's money is in holdings FLV also owns. 31.5% of PVAL's is in holdings FLV also owns. They hold 8 positions in common, counted across the 52 positions we hold weights for in FLV and 45 in PVAL.
Which pays a higher dividend, FLV or PVAL?
FLV yields 1.73% while PVAL yields 0.92%, so FLV currently pays the higher dividend yield.
Is PVAL better than FLV?
FLV has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. FLV is less concentrated, with 32.6% 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.