Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
PVAL vs QUAL: how they differ
PVAL and QUAL hold 12% of their weight in the same names, and PVAL returned more over the year.
Putnam Focused Large Cap Value ETF and iShares MSCI USA Quality Factor ETF.
What they hold in common
By the books each fund has filed, PVAL and QUAL hold 12% of their money in the same securities at the same weight.
| Holding | PVAL | QUAL |
|---|---|---|
| MICROSOFT CORP | 2.96% | 5.05% |
| ALPHABET INC | 3.33% | 2.54% |
| QUALCOMM INC | 2.15% | 1.42% |
| WALMART INC | 1.39% | 1.23% |
| UNITEDHEALTH GROUP INC | 1.66% | 1.03% |
| COCA-COLA COMPANY (THE) | 2.85% | 0.75% |
| PROLOGIS INC | 2.04% | 0.57% |
| BLACKROCK INC | 1.18% | 0.57% |
| PULTEGROUP INC | 1.68% | 0.50% |
| Only in PVAL | Only in QUAL |
|---|---|
| CISCO SYSTEMS INC 6.06% | NVIDIA CORPORATION 6.52% |
| CITIGROUP INC 4.68% | APPLE INC. 6.28% |
| EXXON MOBIL CORP 3.66% | META PLATFORMS, INC. 3.50% |
| ADVANCED MICRO DEVICES INC 3.09% | LAM RESEARCH CORPORATION 3.23% |
| SEAGATE TECHNOLOGY HOLDINGS PLC 3.08% | THE TJX COMPANIES, INC. 3.19% |
| AMAZON.COM INC 2.96% | VISA INC. 3.09% |
| FREEPORT-MCMORAN INC 2.95% | ELI LILLY AND COMPANY 2.92% |
| HILTON WORLDWIDE HOLDINGS INC 2.87% | KLA CORPORATION 2.79% |
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.
| PVAL Putnam Focused Large Cap Value ETF | QUAL iShares MSCI USA Quality Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Putnam | iShares |
| What it is | Putnam Focused Large Cap Value | MSCI USA Quality Factor |
| Total return, 1 year | +28.4% | +16.0% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +10.8 pts | −1.5 pts |
| Expense ratio | not published | 0.15% |
| Already in the S&P 500 | 94.9% | 98.9% |
| Holdings | 45 | 121 |
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%.
QUAL in plain words
QUAL is an index equity fund tracking the MSCI USA Quality Factor. Over the year to Sep 11, 2026 it returned +16.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Apr 30, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 121 positions, with the top ten at 39.1%. It sat 3.1% below its high of Aug 13, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, PVAL or QUAL?
- In the year to Sep 12, 2026, with distributions reinvested, PVAL returned +28.4% and QUAL returned +16.0%, so PVAL returned more. One year is one year; the longer windows are in the table.
- How much do PVAL and QUAL overlap with the S&P 500?
- By their latest filed holdings, 95% of PVAL and 99% of QUAL by weight is stocks the S&P 500 already holds. Between the two funds, 12% of their books are the same securities at the same weight.
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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, PVAL against QUAL, data as of Sep 12, 2026. https://etfiq.com/compare/any/PVAL-QUAL Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources