JAVA vs PVAL
JPMorgan Active Value ETF vs Putnam Focused Large Cap Value ETF
Which is better, JAVA or PVAL?
Nearly the same fund. JAVA costs less.
JAVA has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. JAVA is less concentrated, with 29.8% 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 | JAVA | PVAL |
|---|---|---|
| Expense Ratio | 0.44%Best | 0.55% |
| AUM | $7.4B | $14.9B |
| Dividend Yield | 1.19% | 0.92% |
| Holdings | 153 | 93 |
| YTD Return | +13.15% | +17.95%Best |
| 1Y Return | +20.54% | +27.77%Best |
| 3Y Return (annualized) | +18.31% | +24.11%Best |
| 5Y Return (annualized) | +11.63% | +16.54%Best |
| Volatility (annualized) | 14.4%Best | 14.8% |
| Max Drawdown | -16.5%Best | -16.6% |
| $10,000 over 5 years | $17,334 | $21,497Best |
| Top 10 Weight | 29.8%Best | 42.7% |
| Fund Family | J.P. Morgan Asset Management | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 4, 2021 | May 25, 2021 |
Volatility and max drawdown are measured over the window both funds cover: Oct 5, 2021 to Oct 14, 2026 (5 years).
JAVA 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 years both funds cover.
JAVA vs PVAL Performance
JPMorgan Active Value ETF (JAVA) is an ETF from J.P. Morgan Asset Management and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year JAVA returned +20.54% while PVAL returned +27.77%. Year to date, JAVA is up 13.15% versus a gain of 17.95% for PVAL.
Over three years, JAVA compounded at +18.31% per year against +24.11% for PVAL; over five years the annualized figures are +11.63% and +16.54% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PVAL has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 14.4% for JAVA. 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 -16.5% for JAVA 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JAVA charges 0.44% per year while PVAL charges 0.55%. On a $10,000 position that is $44 vs $55 annually, a gap of $11 per year that compounds over a long holding period. On income, JAVA currently yields 1.19% against 0.92% for PVAL.
Holdings Overlap
37.0% of JAVA's money is in holdings PVAL also owns. 69.5% of PVAL's money is in holdings JAVA also owns.
The two portfolios partly overlap.
26 positions in common, counted across the 151 positions we hold weights for in JAVA and 45 in PVAL, against full books of 153 and 93.
What only one of them owns
Our book lists 16 positions for PVAL that do not appear in our book for JAVA (26.8% of the fund), and 124 for JAVA that do not appear in PVAL (62.7%).
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 JAVA | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 6.29% | 9.26% | 2.97% |
| AMZNAmazon.Com Inc | 7.63% | 4.70% | 2.93% |
| AAPLApple, Inc | 3.41% | 6.69% | 3.28% |
| SCHWCharles Schwab Corp. | 1.65% | 3.24% | 1.59% |
| BACBank Of America Corp. | 2.19% | 2.69% | 0.50% |
| CCitigroup, Inc. | 1.39% | 3.24% | 1.85% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 0.65% | 3.76% | 3.11% |
| COPConocophillips Co | 1.77% | 2.00% | 0.23% |
| ABBVAbbvie Inc. | 1.77% | 1.94% | 0.17% |
| PMPhilip Morris International Inc. | 1.07% | 2.64% | 1.57% |
69.5% of PVAL is already inside JAVA.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, JAVA or PVAL?
JAVA has an expense ratio of 0.44% while PVAL charges 0.55%. JAVA is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, JAVA or PVAL?
Over the past year JAVA returned +20.54% vs +27.77% 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, JAVA or PVAL?
PVAL has been the more volatile fund at 14.8% annualized versus 14.4% for JAVA. Worst drawdown: JAVA -16.5% vs PVAL -16.6%.
Should I hold both JAVA and PVAL?
JAVA and PVAL have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between JAVA and PVAL?
69.5% of PVAL's money is in holdings JAVA also owns. 69.5% of PVAL's is in holdings JAVA also owns. They hold 26 positions in common, counted across the 151 positions we hold weights for in JAVA and 45 in PVAL.
Which pays a higher dividend, JAVA or PVAL?
JAVA yields 1.19% while PVAL yields 0.92%, so JAVA currently pays the higher dividend yield.
Is PVAL better than JAVA?
JAVA has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. JAVA is less concentrated, with 29.8% 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.