Data as of Oct 28, 2026.
PVAL vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, PVAL returned +26.6% to SPY's +13.6%; 28% of their weight is in the same names.
askIQ about this page
askIQ about PVAL and SPY
Net assets: $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.46 points a year less; their one-year returns differ by 13.0 points.
| Measure | PVAL | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +26.6% | +13.6% |
| Benchmark | ||
| What it tracks | No index, actively managed | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.55% | 0.09% |
| Net assets, PVAL as of Aug 31, 2026 and SPY as of Oct 27, 2026 | $14.1bn | $814.8bn |
| Holdings | ||
| Holdings in common | 28% | |
| Top ten holdings, share of the fund | 42.8% | 38.1% |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, PVAL and SPY hold 28% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
28% in common
Only in one fund ↓
Side by side
PVAL and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PVAL and SPY do different jobs. What does each one do in a portfolio?
- What each follows. PVAL follows No index, actively managed and SPY follows S&P 500 Index.
- Holdings in common. 28% of the weight is in the same securities (holdings dated Aug 31, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 PVAL returned +26.6% and SPY +13.6% with distributions reinvested, a gap of 13.0 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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%.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, PVAL or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, PVAL returned +26.6% and SPY +13.6%.
- Which is cheaper, PVAL or SPY?
- SPY is cheaper, by 0.46 percentage points a year. That is about $46 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, PVAL against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/pval-vs-spy
ETFIQ. (Oct 28, 2026). PVAL against SPY. Retrieved from https://etfiq.com/compare/any/pval-vs-spy
[PVAL against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/pval-vs-spy)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.