Which returned more over the last year, PVAL or USO?

In the year to Oct 28, 2026, with distributions reinvested, PVAL returned +26.6% and USO +133.3%.

Which is cheaper, PVAL or USO?

PVAL is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

PVAL vs USO: Differences, Returns & Fees

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PVAL is an actively managed equity fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +26.6%.

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Net assets: $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

PVAL on its own →USO on its own →

At a glance

+26.6%

PVAL total return, 1 year

+133.3%

USO total return, 1 year

0.55%

PVAL expense ratio

0.86%

USO expense ratio

Pair scorecard

PVAL costs 0.31 points a year less; their one-year returns differ by 106.7 points.

PVAL vs USO: Differences, Returns & Fees
Measure	PVAL	USO
Return
Measure	PVAL	USO
Total return, 1 year	+26.6%	+133.3%
Drawdown
Measure	PVAL	USO
Below its high		82.3%, high on Jul 14, 2008
Benchmark
Measure	PVAL	USO
What it tracks	No index, actively managed	Oil futures
Cost and size
Measure	PVAL	USO
Expense ratio	0.55%	0.86%
Net assets, PVAL as of Aug 31, 2026 and USO as of Oct 28, 2026	$14.1bn	$1.9bn
Holdings
Measure	PVAL	USO
Holdings in common	not published
In the S&P 500, by weight	91%
Top ten holdings, share of the fund	42.8%

Method

Side by side

PVAL Putnam Focused Large Cap Value ETF USO United States Oil Fund, LP

Where it sits Stock ETF Commodity ETF

Issuer Putnam USCF

What it is Actively managed Holds oil futures

Total return, 1 year +26.6% +133.3%

Its benchmark over the same days +27.5% (IWD) not measured

Gap to its benchmark −0.9 pts vs IWD not measured

Expense ratio 0.55% 0.86%

Holdings 44 not counted

Net assets, PVAL as of Aug 31, 2026 and USO as of Oct 28, 2026 $14.1bn $1.9bn

PVAL and USO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

PVAL

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%.

USO

USO holds oil futures. Over the year to Oct 28, 2026 it returned +133.3% with distributions reinvested. The prospectus expense ratio is 0.86% a year. It sat 82.3% below its high of Jul 14, 2008 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, PVAL or USO?: In the year to Oct 28, 2026, with distributions reinvested, PVAL returned +26.6% and USO +133.3%.
Which is cheaper, PVAL or USO?: PVAL is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

BWET vs PVAL PVAL vs SLV GLD vs PVAL PVAL vs SIVR FDVV vs USO AVLV vs USO SPYD vs USO FNDX vs USO

Where to next

PVAL on its own →USO on its own →Hold both: look the portfolio through →Rankings →PVAL dividend history →PVAL holdings →Standards and sources →

Sources and dates

PVAL filings on SEC EDGAR ↗

PVAL prospectus with the expense ratio (SEC) ↗

Putnam website ↗

USCF website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, PVAL against USO, data as of Oct 28, 2026. https://etfiq.com/compare/any/pval-vs-uso

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