Data as of Oct 28, 2026.
ONEQ vs PVAL: Differences, Returns & Fees
Over the year to Oct 28, 2026, ONEQ returned +12.7% to PVAL's +26.6%; 24% of their weight is in the same names.
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Net assets: $10.9bn on Sep 30, 2026 for Fidelity Nasdaq Composite Index ETF, and $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF.
Pair scorecard
ONEQ costs 0.34 points a year less; their one-year returns differ by 13.9 points.
| Measure | ONEQ | PVAL |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.7% | +26.6% |
| Drawdown | ||
| Below its high | 3.8%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Nasdaq Composite Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.21% | 0.55% |
| Net assets, ONEQ as of Sep 30, 2026 and PVAL as of Aug 31, 2026 | $10.9bn | $14.1bn |
| Holdings | ||
| Holdings in common | 24% | |
| Top ten holdings, share of the fund | 56.0% | 42.8% |
Holdings in common uses holdings dated Aug 31, 2026. Method
Risk and return
Jun 4, 2021 to Oct 23, 2026 · 281 weekly returnsPVAL returned more: +123.6% to +98.9%. PVAL swung less: 14.9% to 20.8%. PVAL fell less at its worst: −15.6% to −34.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ONEQ | PVAL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +98.9% | +123.6% | PVAL | Price change plus distributions, reinvested. |
| Annualized | +13.6% | +16.1% | PVAL | Total return as a yearly rate. |
| Price return | +90.7% | +111.2% | PVAL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.8% | 14.9% | PVAL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.8% | 10.1% | PVAL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −34.6% | −15.6% | PVAL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.83 | PVAL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.81 | 1.23 | PVAL | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.39 | 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, ONEQ and PVAL hold 24% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.
half
24% in common
Only in one fund ↓
Side by side
ONEQ and PVAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ONEQ and PVAL do different jobs. What does each one do in a portfolio?
- What each follows. ONEQ follows Nasdaq Composite Index and PVAL follows No index, actively managed.
- Holdings in common. 24% of the weight is in the same securities (holdings dated Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ONEQ returned +12.7% and PVAL +26.6% with distributions reinvested, a gap of 13.9 points.
Data as of Oct 28, 2026.
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ONEQ
ONEQ tracks the Nasdaq Composite. Over the year to Oct 28, 2026 it returned +12.7% with distributions reinvested. The prospectus expense ratio is 0.21% a year. By its holdings filed for Aug 31, 2026, 85% of the fund by weight is stocks the S&P 500 also holds, across 1,026 positions, with the top ten at 56.0%. It sat 3.8% below its high of Oct 6, 2026 on Oct 28, 2026.
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, ONEQ or PVAL?
- In the year to Oct 28, 2026, with distributions reinvested, ONEQ returned +12.7% and PVAL +26.6%.
- Which is cheaper, ONEQ or PVAL?
- ONEQ is cheaper, by 0.34 percentage points a year. That is about $34 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, ONEQ against PVAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/oneq-vs-pval
ETFIQ. (Oct 28, 2026). ONEQ against PVAL. Retrieved from https://etfiq.com/compare/any/oneq-vs-pval
[ONEQ against PVAL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/oneq-vs-pval)
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