Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
PVAL vs XBI: how they differ
PVAL and XBI hold 1% of their weight in the same names, and XBI returned more over the year.
Putnam Focused Large Cap Value ETF and State Street(R) SPDR(R) S&P(R) Biotech ETF.
What they hold in common
By the books each fund has filed, PVAL and XBI hold 1% of their money in the same securities at the same weight.
| Holding | PVAL | XBI |
|---|---|---|
| REGENERON PHARMACEUTICALS INC | 1.34% | 0.96% |
| Only in PVAL | Only in XBI |
|---|---|
| CISCO SYSTEMS INC 6.06% | Apogee Therapeutics Inc 1.49% |
| CITIGROUP INC 4.68% | Moderna Inc 1.41% |
| EXXON MOBIL CORP 3.66% | Twist Bioscience Corp 1.41% |
| ALPHABET INC 3.33% | Oruka Therapeutics Inc 1.38% |
| ADVANCED MICRO DEVICES INC 3.09% | Kymera Therapeutics Inc 1.36% |
| SEAGATE TECHNOLOGY HOLDINGS PLC 3.08% | Viking Therapeutics Inc 1.31% |
| AMAZON.COM INC 2.96% | Praxis Precision Medicines Inc 1.29% |
| MICROSOFT CORP 2.96% | Erasca Inc 1.27% |
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 Jun 30, 2026 and May 29, 2026.
| PVAL Putnam Focused Large Cap Value ETF | XBI State Street(R) SPDR(R) S&P(R) Biotech ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Putnam | State Street |
| What it is | Putnam Focused Large Cap Value | SPDR S&P Biotech |
| Total return, 1 year | +28.4% | +64.0% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +10.8 pts | +46.5 pts |
| Expense ratio | not published | 0.35% |
| Already in the S&P 500 | 94.9% | 8.5% |
| Holdings | 45 | 150 |
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%.
XBI in plain words
XBI is an index equity fund tracking the SPDR S&P Biotech. Over the year to Sep 11, 2026 it returned +64.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.35% a year. By its holdings filed for Jun 30, 2026, 8% of the fund by weight is stocks the S&P 500 also holds, across 150 positions, with the top ten at 13.3%. It sat 9.6% below its high of Feb 8, 2021 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, PVAL or XBI?
- In the year to Sep 12, 2026, with distributions reinvested, PVAL returned +28.4% and XBI returned +64.0%, so XBI returned more. One year is one year; the longer windows are in the table.
- How much do PVAL and XBI overlap with the S&P 500?
- By their latest filed holdings, 95% of PVAL and 8% of XBI by weight is stocks the S&P 500 already holds. Between the two funds, 1% 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 XBI, data as of Sep 12, 2026. https://etfiq.com/compare/any/PVAL-XBI Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources