Data as of Oct 28, 2026.
FDVV vs PVAL: Differences, Returns & Fees
Over the year to Oct 28, 2026, FDVV returned +13.5% to PVAL's +26.6%; 22% of their weight is in the same names.
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Net assets: $10.2bn on Sep 30, 2026 for Fidelity High Dividend ETF, and $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF.
Pair scorecard
FDVV costs 0.40 points a year less; their one-year returns differ by 13.1 points.
| Measure | FDVV | PVAL |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.5% | +26.6% |
| Benchmark | ||
| What it tracks | Fidelity High Dividend Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.15% | 0.55% |
| Net assets, FDVV as of Sep 30, 2026 and PVAL as of Aug 31, 2026 | $10.2bn | $14.1bn |
| Holdings | ||
| Holdings in common | 22% | |
| Top ten holdings, share of the fund | 33.8% | 42.8% |
Holdings in common uses holdings dated Jul 31, 2026 and Aug 31, 2026. Method
Risk and return
Jun 4, 2021 to Oct 23, 2026 · 281 weekly returnsPVAL returned more: +123.6% to +93.2%. FDVV swung slightly less: 14.3% to 14.9%. PVAL fell less at its worst: −15.6% to −19.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FDVV | PVAL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +93.2% | +123.6% | PVAL | Price change plus distributions, reinvested. |
| Annualized | +13.0% | +16.1% | PVAL | Total return as a yearly rate. |
| Price return | +61.3% | +111.2% | PVAL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.3% | 14.9% | FDVV (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.8% | 10.1% | FDVV (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −19.4% | −15.6% | PVAL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.67 | 0.83 | PVAL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.98 | 1.23 | PVAL | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.67 | 1.03 | PVAL | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 281 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FDVV and PVAL hold 22% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.
half
22% in common
Only in one fund ↓
Side by side
FDVV and PVAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FDVV and PVAL are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FDVV follows Fidelity High Dividend Index and PVAL follows No index, actively managed.
- Holdings in common. 22% of the weight is in the same securities (holdings dated Jul 31, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FDVV returned +13.5% and PVAL +26.6% with distributions reinvested, a gap of 13.1 points.
Data as of Oct 28, 2026.
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FDVV
FDVV tracks an index of High Dividend. Over the year to Oct 28, 2026 it returned +13.5% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 87% of the fund by weight is stocks the S&P 500 also holds, across 95 positions, with the top ten at 33.8%.
Over the year to Oct 28, 2026 it returned +26.6% with distributions reinvested, against +27.5% for its benchmark, the Russell 1000 Value Index.
PVAL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Aug 31, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 44 positions, with the top ten at 42.8%.
Questions people ask
- Which returned more over the last year, FDVV or PVAL?
- In the year to Oct 28, 2026, with distributions reinvested, FDVV returned +13.5% and PVAL +26.6%.
- Which is cheaper, FDVV or PVAL?
- FDVV is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FDVV against PVAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdvv-vs-pval
ETFIQ. (Oct 28, 2026). FDVV against PVAL. Retrieved from https://etfiq.com/compare/any/fdvv-vs-pval
[FDVV against PVAL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fdvv-vs-pval)
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