Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
PVAL vs XLV: how they differ
PVAL and XLV hold 6% of their weight in the same names, and PVAL returned more over the year.
Putnam Focused Large Cap Value ETF and State Street(R) Health Care Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, PVAL and XLV hold 6% of their money in the same securities at the same weight.
| Holding | PVAL | XLV |
|---|---|---|
| THERMO FISHER SCIENTIFIC INC | 2.15% | 3.25% |
| UNITEDHEALTH GROUP INC | 1.66% | 6.59% |
| MCKESSON CORP | 2.44% | 1.59% |
| REGENERON PHARMACEUTICALS INC | 1.34% | 1.09% |
| Only in PVAL | Only in XLV |
|---|---|
| CISCO SYSTEMS INC 6.06% | Eli Lilly & Co 16.56% |
| CITIGROUP INC 4.68% | Johnson & Johnson 10.67% |
| EXXON MOBIL CORP 3.66% | AbbVie Inc 7.76% |
| ALPHABET INC 3.33% | Merck & Co Inc 5.54% |
| ADVANCED MICRO DEVICES INC 3.09% | Amgen Inc 3.41% |
| SEAGATE TECHNOLOGY HOLDINGS PLC 3.08% | Abbott Laboratories 2.76% |
| AMAZON.COM INC 2.96% | Gilead Sciences Inc 2.74% |
| MICROSOFT CORP 2.96% | Intuitive Surgical Inc 2.46% |
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 | XLV State Street(R) Health Care Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Putnam | State Street |
| What it is | Putnam Focused Large Cap Value | Health care |
| Total return, 1 year | +28.4% | +20.4% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +10.8 pts | +2.9 pts |
| Expense ratio | not published | 0.08% |
| Already in the S&P 500 | 94.9% | 100.0% |
| Holdings | 45 | 59 |
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%.
XLV in plain words
XLV is an index equity fund tracking the Health care. Over the year to Sep 11, 2026 it returned +20.4% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 59 positions, with the top ten at 61.7%. It sat 5.9% below its high of Aug 19, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, PVAL or XLV?
- In the year to Sep 12, 2026, with distributions reinvested, PVAL returned +28.4% and XLV returned +20.4%, so PVAL returned more. One year is one year; the longer windows are in the table.
- How much do PVAL and XLV overlap with the S&P 500?
- By their latest filed holdings, 95% of PVAL and 100% of XLV by weight is stocks the S&P 500 already holds. Between the two funds, 6% 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 XLV, data as of Sep 12, 2026. https://etfiq.com/compare/any/PVAL-XLV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources