PVAL vs VOO
Putnam Focused Large Cap Value ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. PVAL delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | PVAL | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.03% | |
| AUM | $14.0B | $997.4B | |
| Dividend Yield | 0.90% | 1.08% | |
| Holdings | 48 | 509 | |
| YTD Return | +18.43% | +12.95% | |
| 1Y Return | +32.72% | +20.69% | |
| 3Y Return (annualized) | +24.25% | +22.09% | |
| 5Y Return (annualized) | +17.37% | +13.40% | |
| Volatility (annualized) | 14.7% | 14.1% | |
| Max Drawdown | -16.6% | -34.3% | |
| Fund Family | Putnam Investments | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | May 25, 2021 | Sep 7, 2010 |
PVAL vs VOO Performance
Putnam Focused Large Cap Value ETF (PVAL) is a ETF from Putnam Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PVAL returned +32.72% while VOO returned +20.69%. Year to date, PVAL is up 18.43% versus a gain of 12.95% for VOO.
Over three years, PVAL compounded at +24.25% per year against +22.09% for VOO; over five years the annualized figures are +17.37% and +13.40% respectively. Across the full 5-year window we track, PVAL has the edge at +17.02% annualized vs +13.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PVAL has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 14.1% for VOO. 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 -16.6% for PVAL and -34.3% for VOO. 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
PVAL charges 0.55% per year while VOO charges 0.03%. On a $10,000 position that is $55 vs $3 annually, a gap of $52 per year that compounds over a long holding period. On income, PVAL currently yields 0.90% against 1.08% for VOO.
Holdings Overlap
PVAL and VOO share 42 holdings out of 510 unique holdings combined, representing a 25.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PVAL or VOO?
PVAL has an expense ratio of 0.55% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, PVAL or VOO?
Over the past year PVAL returned +32.72% vs +20.69% for VOO, so PVAL leads on 1-year performance. Over the longest common window we track (5 years), PVAL annualized +17.02% vs +13.50% for VOO. Past performance does not guarantee future results.
Which is riskier, PVAL or VOO?
PVAL has been the more volatile fund at 14.7% annualized versus 14.1% for VOO. Worst drawdown: PVAL -16.6% vs VOO -34.3%.
Should I hold both PVAL and VOO?
PVAL and VOO 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 PVAL and VOO?
PVAL and VOO share 42 common holdings with a 25.6% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, PVAL or VOO?
PVAL yields 0.90% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
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