IVV vs PVAL
iShares Core S&P 500 ETF vs Putnam Focused Large Cap Value ETF
Which is better, IVV or PVAL?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 42.0%.
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 | IVV | PVAL |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.55% |
| AUM | $886.7B | $14.1B |
| Dividend Yield | 1.10% | 0.90% |
| Holdings | 508 | 47 |
| YTD Return | +12.70% | +17.86%Best |
| 1Y Return | +19.36% | +30.06%Best |
| 3Y Return (annualized) | +21.16% | +23.30%Best |
| 5Y Return (annualized) | +12.75% | +16.99%Best |
| Volatility (annualized) | 15.4% | 14.6%Best |
| Max Drawdown | -24.5% | -16.6%Best |
| $10,000 over 5 years | $18,221 | $21,915Best |
| Top 10 Weight | 37.9%Best | 42.0% |
| Fund Family | iShares by BlackRock (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | May 25, 2021 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2021 to Sep 8, 2026 (5.3 years).
IVV 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 5.3 years both funds cover.
IVV vs PVAL Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year IVV returned +19.36% while PVAL returned +30.06%. Year to date, IVV is up 12.70% versus a gain of 17.86% for PVAL.
Over three years, IVV compounded at +21.16% per year against +23.30% for PVAL; over five years the annualized figures are +12.75% and +16.99% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 14.6% 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 -24.5% for IVV 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 0.88. 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
27.3% of IVV's money is in holdings PVAL also owns. 94.9% of PVAL's money is in holdings IVV also owns.
Most of PVAL is already inside IVV. Owning both mostly buys the same companies twice.
42 positions in common, counted across the 504 positions we hold weights for in IVV and 46 in PVAL, against full books of 508 and 47.
What only one of them owns
Our book lists 1 positions for PVAL that do not appear in our book for IVV (2.3% of the fund), and 452 for IVV that do not appear in PVAL (72.1%).
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 IVV | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 8.58% | 3.14% |
| AAPLApple Inc Ord | 6.86% | 6.60% | 0.26% |
| AMZNAmazon.Com Inc | 4.01% | 4.98% | 0.97% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 0.94% | 3.67% | 2.73% |
| CSCOCisco Systems Inc | 0.72% | 3.05% | 2.33% |
| CCitigroup, Inc. | 0.35% | 3.30% | 2.95% |
| KOCoca-cola Co. | 0.51% | 2.94% | 2.43% |
| SCHWCharles Schwab Corp. | 0.27% | 3.15% | 2.88% |
| BACBank Of America Corp Preferred Stock 6.5 | 0.62% | 2.73% | 2.11% |
| PMPhilip Morris International Inc. | 0.44% | 2.72% | 2.28% |
94.9% of PVAL is already inside IVV.
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, IVV or PVAL?
IVV has an expense ratio of 0.03% while PVAL charges 0.55%. IVV is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, IVV or PVAL?
Over the past year IVV returned +19.36% vs +30.06% 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, IVV or PVAL?
IVV has been the more volatile fund at 15.4% annualized versus 14.6% for PVAL. Worst drawdown: IVV -24.5% vs PVAL -16.6%.
Should I hold both IVV and PVAL?
IVV and PVAL have a monthly-return correlation of 0.88, 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 IVV and PVAL?
94.9% of PVAL's money is in holdings IVV also owns. 94.9% of PVAL's is in holdings IVV also owns. They hold 42 positions in common, counted across the 504 positions we hold weights for in IVV and 46 in PVAL.
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.
Is PVAL better than IVV?
IVV has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 42.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.