Data as of Sep 21, 2026.
FBTC vs PVAL: how they differ
FBTC is a spot crypto ETP and PVAL an actively managed equity fund, and over the year PVAL returned more, +26.7% against −31.0%.
Fidelity Wise Origin Bitcoin Fund and Putnam Focused Large Cap Value ETF.
| FBTC Fidelity Wise Origin Bitcoin Fund | PVAL Putnam Focused Large Cap Value ETF | |
|---|---|---|
| Where it sits | Core fund | Core fund |
| Issuer | Fidelity | Putnam |
| What it is | Holds bitcoin | Actively managed |
| Total return, 1 year | −31.0% | +26.7% |
| S&P 500 over the same days | +16.6% | +16.6% |
| Gap to the S&P 500 | −47.6 pts | +10.2 pts |
| Expense ratio | 0.25% | not published |
| Holdings | not filed | 45 |
| Net assets | $13.9bn | $11.1bn |
FBTC in plain words
FBTC holds bitcoin. Over the year to Sep 18, 2026 it returned −31.0% with distributions reinvested, against +16.6% for the S&P 500 and +21.8% for the Nasdaq-100. The prospectus expense ratio is 0.25% a year. It sat 35.4% below its high of Oct 6, 2025 on Sep 18, 2026.
PVAL in plain words
PVAL is actively managed and tracks no index. Over the year to Sep 18, 2026 it returned +26.7% with distributions reinvested, against +16.6% for the S&P 500 and +21.8% 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, FBTC or PVAL?
- In the year to Sep 21, 2026, with distributions reinvested, FBTC returned −31.0% and PVAL returned +26.7%, so PVAL returned more.
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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, FBTC against PVAL, data as of Sep 21, 2026. https://etfiq.com/compare/any/fbtc-vs-pval Free to use with attribution; the underlying files are at Open data.
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