IVV vs PVAL
iShares Core S&P 500 ETF vs Putnam Focused Large Cap Value ETF
Quick Verdict
IVV has a lower expense ratio. PVAL delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PVAL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.55% | |
| AUM | $907.0B | $14.0B | |
| Dividend Yield | 1.10% | 0.90% | |
| Holdings | 508 | 48 | |
| YTD Return | +13.22% | +18.98% | |
| 1Y Return | +21.62% | +32.97% | |
| 3Y Return (annualized) | +22.17% | +24.41% | |
| 5Y Return (annualized) | +13.42% | +17.57% | |
| Volatility (annualized) | 15.1% | 14.7% | |
| Max Drawdown | -56.5% | -16.6% | |
| Fund Family | iShares by BlackRock (US) | Putnam Investments | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | May 25, 2021 |
IVV vs PVAL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Putnam Focused Large Cap Value ETF (PVAL) is a ETF from Putnam Investments. Over the past year IVV returned +21.62% while PVAL returned +32.97%. Year to date, IVV is up 13.22% versus a gain of 18.98% for PVAL.
Over three years, IVV compounded at +22.17% per year against +24.41% for PVAL; over five years the annualized figures are +13.42% and +17.57% respectively. Across the full 5-year window we track, PVAL has the edge at +17.11% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.7% 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 -56.5% for IVV and -16.6% for PVAL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PVAL charges 0.55%. On a $10,000 position that is $3 vs $55 annually, a gap of $52 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.90% for PVAL.
Holdings Overlap
IVV and PVAL share 42 holdings out of 510 unique holdings combined, representing a 26.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PVAL?
IVV has an expense ratio of 0.03% while PVAL charges 0.55%. IVV is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, IVV or PVAL?
Over the past year IVV returned +21.62% vs +32.97% for PVAL, so PVAL leads on 1-year performance. Over the longest common window we track (5 years), IVV annualized +7.02% vs +17.11% for PVAL. Past performance does not guarantee future results.
Which is riskier, IVV or PVAL?
IVV has been the more volatile fund at 15.1% annualized versus 14.7% for PVAL. Worst drawdown: IVV -56.5% vs PVAL -16.6%.
Should I hold both IVV and PVAL?
IVV and PVAL have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PVAL?
IVV and PVAL share 42 common holdings with a 26.1% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, IVV or PVAL?
IVV yields 1.10% while PVAL yields 0.90%, so IVV currently pays the higher dividend yield.
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