PVAL vs TVAL: Differences, Returns & Fees
PVAL and TVAL hold 27% of their weight in the same names, and PVAL returned +28.6% over the year. Net assets: $11.1bn on May 29, 2026 for Putnam Focused Large Cap Value ETF, and $1.1bn on Oct 9, 2026 for T. Rowe Price Value ETF.
TVAL costs 0.22 points a year less; their one-year returns differ by 1.8 points.
| PVAL | TVAL | |
|---|---|---|
| Expense ratio | 0.55% | 0.33% |
| Net assets, PVAL as of May 29, 2026 and TVAL as of Oct 9, 2026 | $11.1bn | $1.1bn |
| Total return, 1 year | +28.6% | +26.8% |
| What it tracks | No index, actively managed | No index, actively managed |
| Holdings in common | 27% | |
| Top ten holdings, share of the fund | 35.3% | 23.0% |
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, PVAL and TVAL hold 27% 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
27% in common
On the same fields
PVAL and TVAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
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.
About TVAL
TVAL is actively managed and tracks no index. The prospectus expense ratio is 0.33% a year. By its holdings filed for Jun 30, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 158 positions, with the top ten at 23.0%.
Over the year to Oct 9, 2026 it returned +26.8% with distributions reinvested, against +26.4% for its benchmark, the Russell 1000 Value Index.
Questions people ask
- Which returned more over the last year, PVAL or TVAL?
- In the year to Oct 9, 2026, with distributions reinvested, PVAL returned +28.6% and TVAL +26.8%.
- Which is cheaper, PVAL or TVAL?
- TVAL is cheaper, by 0.22 percentage points a year. That is about $22 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, PVAL against TVAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/pval-vs-tval
ETFIQ. (Oct 9, 2026). PVAL against TVAL. Retrieved from https://etfiq.com/compare/any/pval-vs-tval
[PVAL against TVAL (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/any/pval-vs-tval)
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