Data as of Oct 28, 2026.
IWB vs PVAL: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWB returned +13.1% to PVAL's +26.6%; 26% of their weight is in the same names.
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Net assets: $49.1bn on Oct 28, 2026 for iShares Russell 1000 ETF, and $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF.
Pair scorecard
IWB costs 0.40 points a year less; their one-year returns differ by 13.5 points.
| Measure | IWB | PVAL |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.1% | +26.6% |
| Benchmark | ||
| What it tracks | Russell 1000 Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.15% | 0.55% |
| Net assets, IWB as of Oct 28, 2026 and PVAL as of Aug 31, 2026 | $49.1bn | $14.1bn |
| Holdings | ||
| Holdings in common | 26% | |
| Top ten holdings, share of the fund | 35.3% | 42.8% |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, IWB and PVAL hold 26% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
26% in common
Only in one fund ↓
Side by side
IWB and PVAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWB and PVAL do different jobs. What does each one do in a portfolio?
- What each follows. IWB follows Russell 1000 Index and PVAL follows No index, actively managed.
- Holdings in common. 26% of the weight is in the same securities (holdings dated Oct 27, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWB returned +13.1% and PVAL +26.6% with distributions reinvested, a gap of 13.5 points.
Data as of Oct 28, 2026.
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IWB
IWB tracks the Russell 1000. Over the year to Oct 28, 2026 it returned +13.1% with distributions reinvested, against +13.2% for its benchmark, the Russell 1000 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,025 positions, with the top ten at 35.3%.
PVAL
PVAL is actively managed and tracks no index. 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. 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, IWB or PVAL?
- In the year to Oct 28, 2026, with distributions reinvested, IWB returned +13.1% and PVAL +26.6%.
- Which is cheaper, IWB or PVAL?
- IWB 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.
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ETFIQ, IWB against PVAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwb-vs-pval
ETFIQ. (Oct 28, 2026). IWB against PVAL. Retrieved from https://etfiq.com/compare/any/iwb-vs-pval
[IWB against PVAL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwb-vs-pval)
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