PVAL vs VYM
Putnam Focused Large Cap Value ETF vs Vanguard High Dividend Yield ETF
Which is better, PVAL or VYM?
Nearly the same fund. VYM costs less.
VYM has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. VYM is less concentrated, with 25.9% 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 | PVAL | VYM |
|---|---|---|
| Expense Ratio | 0.55% | 0.04%Best |
| AUM | $14.1B | $81.6B |
| Dividend Yield | 0.90% | 2.24% |
| Holdings | 47 | 613 |
| YTD Return | +18.36%Best | +14.82% |
| 1Y Return | +30.18%Best | +20.84% |
| 3Y Return (annualized) | +23.77%Best | +18.64% |
| 5Y Return (annualized) | +17.03%Best | +12.28% |
| Volatility (annualized) | 14.6% | 13.4%Best |
| Max Drawdown | -16.6% | -15.8%Best |
| $10,000 over 5 years | $21,953Best | $17,845 |
| Top 10 Weight | 42.0% | 25.9%Best |
| Fund Family | Putnam Investments | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 25, 2021 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2021 to Sep 4, 2026 (5.3 years).
PVAL vs VYM 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.
PVAL vs VYM Performance
Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PVAL returned +30.18% while VYM returned +20.84%. Year to date, PVAL is up 18.36% versus a gain of 14.82% for VYM.
Over three years, PVAL compounded at +23.77% per year against +18.64% for VYM; over five years the annualized figures are +17.03% and +12.28% 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 13.4% for VYM. 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 -15.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PVAL charges 0.55% per year while VYM charges 0.04%. On a $10,000 position that is $55 vs $4 annually, a gap of $51 per year that compounds over a long holding period. On income, PVAL currently yields 0.90% against 2.24% for VYM.
Holdings Overlap
46.6% of PVAL's money is in holdings VYM also owns. 18.1% of VYM's money is in holdings PVAL also owns.
The two portfolios partly overlap.
23 positions in common, counted across the 46 positions we hold weights for in PVAL and 602 in VYM, against full books of 47 and 613.
What only one of them owns
Our book lists 546 positions for VYM that do not appear in our book for PVAL (79.1% of the fund), and 19 for PVAL that do not appear in VYM (48.2%).
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 PVAL | Weight in VYM | Difference |
|---|---|---|---|
| XOMExxonmobil Holdings Corp Common Stock Usd | 3.67% | 2.36% | 1.31% |
| CSCOCisco Systems Inc | 3.05% | 1.93% | 1.12% |
| BACBank Of America Corp Preferred Stock 6.5 | 2.73% | 1.56% | 1.17% |
| KOCoca-cola Co. | 2.94% | 1.31% | 1.63% |
| CCitigroup, Inc. | 3.30% | 0.94% | 2.36% |
| UNHUnitedhealth Group | 2.40% | 1.56% | 0.84% |
| PMPhilip Morris International Inc. | 2.72% | 1.17% | 1.55% |
| ABBVAbbvie Inc. | 1.92% | 1.85% | 0.07% |
| ALLAllstate Corp/Thecommon Stock | 2.96% | 0.25% | 2.71% |
| COFCapital One Financial Corp. | 2.13% | 0.52% | 1.61% |
46.6% of PVAL is already inside VYM.
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, PVAL or VYM?
PVAL has an expense ratio of 0.55% while VYM charges 0.04%. VYM is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, PVAL or VYM?
Over the past year PVAL returned +30.18% vs +20.84% for VYM, so PVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PVAL or VYM?
PVAL has been the more volatile fund at 14.6% annualized versus 13.4% for VYM. Worst drawdown: PVAL -16.6% vs VYM -15.8%.
Should I hold both PVAL and VYM?
PVAL and VYM have a monthly-return correlation of 0.95, 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 PVAL and VYM?
46.6% of PVAL's money is in holdings VYM also owns. 18.1% of VYM's is in holdings PVAL also owns. They hold 23 positions in common, counted across the 46 positions we hold weights for in PVAL and 602 in VYM.
Which pays a higher dividend, PVAL or VYM?
PVAL yields 0.90% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
Is VYM better than PVAL?
VYM has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. VYM is less concentrated, with 25.9% 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.