Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
JAAA vs PVAL: how they differ
JAAA and PVAL hold 0% of their weight in the same names, and PVAL returned more over the year.
Janus Henderson AAA CLO ETF and Putnam Focused Large Cap Value ETF.
What they hold in common
By the books each fund has filed, JAAA and PVAL hold 0% of their money in the same securities at the same weight.
| Only in JAAA | Only in PVAL |
|---|---|
| KKR CLO 35 Ltd. 0.96% | CISCO SYSTEMS INC 6.06% |
| AB BSL CLO 1 Ltd. 0.88% | CITIGROUP INC 4.68% |
| Anchorage Capital CLO 16 Ltd. 0.82% | EXXON MOBIL CORP 3.66% |
| Anchorage Capital CLO 17 Ltd. 0.80% | ALPHABET INC 3.33% |
| Carlyle US CLO Ltd. 0.70% | ADVANCED MICRO DEVICES INC 3.09% |
| Carlyle US CLO Ltd. 0.67% | SEAGATE TECHNOLOGY HOLDINGS PLC 3.08% |
| Regatta XIX Funding Ltd. 0.67% | AMAZON.COM INC 2.96% |
| Magnetite XXXII Ltd. 0.67% | MICROSOFT CORP 2.96% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and May 29, 2026.
| JAAA Janus Henderson AAA CLO ETF | PVAL Putnam Focused Large Cap Value ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Janus | Putnam |
| What it is | Henderson AAA CLO | Putnam Focused Large Cap Value |
| Total return, 1 year | +4.9% | +28.4% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −12.6 pts | +10.8 pts |
| Expense ratio | 0.20% | not published |
| Already in the S&P 500 | 0.0% | 94.9% |
| Holdings | 600 | 45 |
JAAA in plain words
JAAA is an index equity fund tracking the Henderson AAA CLO. Over the year to Sep 11, 2026 it returned +4.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.20% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 600 positions, with the top ten at 7.5%.
PVAL in plain words
PVAL is an index equity fund tracking the Putnam Focused Large Cap Value. Over the year to Sep 11, 2026 it returned +28.4% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. By its holdings filed for May 29, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 45 positions, with the top ten at 35.6%.
Questions people ask
- Which returned more over the last year, JAAA or PVAL?
- In the year to Sep 12, 2026, with distributions reinvested, JAAA returned +4.9% and PVAL returned +28.4%, so PVAL returned more. One year is one year; the longer windows are in the table.
- How much do JAAA and PVAL overlap with the S&P 500?
- By their latest filed holdings, 0% of JAAA and 95% of PVAL by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, JAAA against PVAL, data as of Sep 12, 2026. https://etfiq.com/compare/any/JAAA-PVAL Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources