FELV vs PVAL: Differences, Returns & Fees
FELV and PVAL hold 22% of their weight in the same names. Net assets: $3.4bn on Sep 30, 2026 for Fidelity Enhanced Large Cap Value ETF, and $11.1bn on May 29, 2026 for Putnam Focused Large Cap Value ETF.
FELV costs 0.37 points a year less; their one-year returns differ by 0.1 points; FELV is 6.3 times larger.
| FELV | PVAL | |
|---|---|---|
| Expense ratio | 0.18% | 0.55% |
| Net assets, as of Feb 29, 2024 | $1.9bn | $305m |
| Total return, 1 year | +28.5% | +28.6% |
| What it tracks | No index, actively managed | No index, actively managed |
| Holdings in common | 22% | |
| Top ten holdings, share of the fund | 26.2% | 35.3% |
Holdings in common uses holdings dated May 29, 2026 and Jun 30, 2026.
What they hold in common
By the books each fund has filed, FELV and PVAL hold 22% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 29, 2026 and Jun 30, 2026.
half
22% in common
On the same fields
FELV and PVAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About FELV
FELV is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +28.5% with distributions reinvested. The prospectus expense ratio is 0.18% a year. By its holdings filed for Jun 30, 2026, 88% of the fund by weight is stocks the S&P 500 also holds, across 351 positions, with the top ten at 26.2%.
About PVAL
PVAL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for May 29, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 45 positions, with the top ten at 35.3%.
Over the year to Oct 9, 2026 it returned +28.6% with distributions reinvested, against +26.4% for its benchmark, the Russell 1000 Value Index.
Questions people ask
- Which returned more over the last year, FELV or PVAL?
- In the year to Oct 9, 2026, with distributions reinvested, FELV returned +28.5% and PVAL +28.6%.
- Which is cheaper, FELV or PVAL?
- FELV is cheaper, by 0.37 percentage points a year. That is about $37 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. 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.
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ETFIQ, FELV against PVAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/felv-vs-pval
ETFIQ. (Oct 9, 2026). FELV against PVAL. Retrieved from https://etfiq.com/compare/any/felv-vs-pval
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