Data as of Sep 21, 2026.
IBIT vs PVAL: how they differ
IBIT and PVAL hold 0% of their weight in the same names, and PVAL returned more over the year.
iShares Bitcoin Trust ETF and Putnam Focused Large Cap Value ETF.
What they hold in common
By the books each fund has filed, IBIT and PVAL hold 0% of their money in the same securities at the same weight.
| Only in IBIT | Only in PVAL |
|---|---|
| BITCOIN 100.00% | CISCO SYSTEMS INC 6.06% |
| USD CASH 0.00% | CITIGROUP INC 4.68% |
| EXXON MOBIL CORP 3.66% | |
| ALPHABET INC 3.33% | |
| ADVANCED MICRO DEVICES INC 3.09% | |
| SEAGATE TECHNOLOGY HOLDINGS PLC 3.08% | |
| AMAZON.COM INC 2.96% | |
| MICROSOFT CORP 2.96% |
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 May 29, 2026 and Sep 18, 2026.
| IBIT iShares Bitcoin Trust ETF | PVAL Putnam Focused Large Cap Value ETF | |
|---|---|---|
| Where it sits | Core fund | Core fund |
| Issuer | iShares | Putnam |
| What it is | Holds bitcoin | Actively managed |
| Total return, 1 year | −31.1% | +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 | 2 | 45 |
| Net assets | $63.7bn | $11.1bn |
IBIT in plain words
IBIT holds bitcoin. Over the year to Sep 18, 2026 it returned −31.1% 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 35.5% 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, IBIT or PVAL?
- In the year to Sep 21, 2026, with distributions reinvested, IBIT returned −31.1% 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, IBIT against PVAL, data as of Sep 21, 2026. https://etfiq.com/compare/any/ibit-vs-pval Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources