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PVAL · Putnam Focused Large Cap Value ETF

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$54.31
+0.1% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

PVAL is actively managed and returned +26.6% over the past year.

Why did PVAL return +123.6% against IWD’s +75.8%?Is a 0.55% fee low for a fund like PVAL?What do PVAL’s net flows of +$9.1bn over the 3 years to May 31, 2026 mean?
Equity fund · Actively managedPutnam ↗Expense ratio 0.55%Fund assets $14.1bn net assets, latest filing (Aug 31, 2026)First traded May 26, 2021Benchmark Russell 1000 Value Index, measured by IWD, which tracks the same indexSEC filings ↗Every Putnam fund ETFIQ coversDividend history

PVAL returned +26.6% over the year to Oct 28, 2026, charges 0.55% a year and holds $14.1bn in net assets on Aug 31, 2026.

Promise check: Not measuredIt names no index it tracks.

Compare with…Trading costsPut to the committeeaskIQ about PVALAdd to portfolioOverlapFlowsAlerts

PVAL risk and return scorecard

vs IWD · Jun 2021 to Oct 2026 · 281 weekly returns · dividend-adjusted

5.4 years
PVAL +123.6%, IWD +75.8%, Jun 2021 to Oct 2026, distributions reinvested.
Return
MeasurePVALIWDEdge
Total return+123.6%+75.8%PVAL
Annualized+16.1%+11.0%PVAL
Price return+111.2%+58.5%PVAL
Risk
MeasurePVALIWDEdge
Volatility14.9%14.3%IWD (slight)
Max drawdown−15.6%−18.6%PVAL
Upside capture105.1%100.0%PVAL (slight)
Downside capture94.0%100.0%PVAL (slight)
Risk-adjusted
MeasurePVALIWDEdge
Sharpe ratio0.830.55PVAL
Sortino ratio1.230.79PVAL
Alpha vs IWD
MeasurePVALIWDEdge
Alpha, a year+4.5%PVAL
Alpha t-stat2.66
Beta to IWD1.011.00Tie

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · May 31, 2026
12 months to May 31, 2026
+$6.4bn
3 years to May 31, 2026
+$9.1bn
5 years to May 31, 2026
+$9.2bn
askIQ: what do these flows mean? ↗

What you earned

PVAL +2.4%, IWD +3.5%: total return over one month to Oct 28, 2026.
PVAL+2.4%
IWD+3.5%
PVAL +3.7%, IWD +4.1%: total return over three months to Oct 28, 2026.
PVAL+3.7%
IWD+4.1%
PVAL +12.4%, IWD +14.7%: total return over six months to Oct 28, 2026.
PVAL+12.4%
IWD+14.7%
PVAL +20.0%, IWD +24.3%: total return over the year to Oct 28, 2026.
PVAL+20.0%
IWD+24.3%
PVAL +26.6%, IWD +27.5%: total return over one year to Oct 28, 2026.
PVAL+26.6%
IWD+27.5%
PVAL +103.5%, IWD +89.9%: total return over three years to Oct 28, 2026.
PVAL+103.5%
IWD+89.9%
PVAL +110.2%, IWD +72.9%: total return over five years to Oct 28, 2026.
PVAL+110.2%
IWD+72.9%
PVAL +128.5%, IWD +79.3%: total return since launch to Oct 28, 2026.
PVAL+128.5%
IWD+79.3%
askIQ: why did PVAL return +26.6% against IWD’s +27.5%? ↗

How concentrated, and what does it cost?

No index, actively managed
+26.6%
Total return, 1 year
Report
0.55%
Expense ratio
Report
44
Holdings
Report
−0.3%
Below its high
Report
1.1%
12-month yield, capital gains included, on its starting price
Report
$0.0957
Last payment (paid quarterly), ex-date Oct 6, 2026
Report
Sector mix
Cost against like funds
askIQ: is a 0.55% fee low for a fund like PVAL? ↗

More on PVAL

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Price, 1 year

$54.31+0.1%1 day, priceClose, Oct 28, 2026

Price only. Total return over the same days, distributions reinvested, was +26.6%. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

PVAL returns by window: total return, cash paid and price change
WindowTotal returnBenchmark (IWD)Gap to IWDS&P 500 (SPY)
1M Sep 28 – Oct 28, 2026+2.4%+3.5%−1.1 pts+0.9%
3M Jul 29 – Oct 28, 2026+3.7%+4.1%−0.4 pts+6.1%
6M Apr 29 – Oct 28, 2026+12.4%+14.7%−2.3 pts+9.1%
YTD Dec 31, 2025 – Oct 28, 2026+20.0%+24.3%−4.3 pts+14.1%
1Y Oct 28, 2025 – Oct 28, 2026+26.6%+27.5%−0.9 pts+13.6%
3Y Oct 27, 2023 – Oct 28, 2026+103.5%+89.9%+13.6 pts+95.0%
5Y Oct 29, 2021 – Oct 28, 2026+110.2%+72.9%+37.3 pts+79.8%
Since launch May 26, 2021 – Oct 28, 2026+128.5%+79.3%+49.2 pts+98.4%
Since launch, annualised May 26, 2021 – Oct 28, 2026+16.4%–––

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Money in and out

Monthly data · as of May 31, 2026

PVAL: in the month to May 31, 2026, net $755m came in, by its SEC filing.

12 months
+$6.4bn
214.6% of $3.0bn on May 31, 2025
Jun 1, 2025 to May 31, 2026
monthly, from SEC filings
3 years
+$9.1bn
5,845.3% of $155m on May 31, 2023
Jun 1, 2023 to May 31, 2026
monthly, from SEC filings
5 years
+$9.2bn
236,771.2% of $3.9m on May 31, 2021
Jun 1, 2021 to May 31, 2026
monthly, from SEC filings
Since Mar 2021
+$9.2bn
Mar 1, 2021 to May 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions PVAL files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is May 2026. Every day and month ETFIQ holds for PVAL, back to Mar 2021, is in its flows file. Flows across every fund · How these flows are computed · Compare PVAL with other funds in the flows tool

Month by month, money in and money outJun 2023 to May 2026

PVAL, money in and money out each month from Jun 2023 to May 2026: two bars a month, money in above the line and money out below. Every bar is from PVAL’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 34 and went out in 2.

Every bar is from PVAL’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 34 and went out in 2.

MonthInOutNet
May 2026 SEC Form N-PORT+$907m−$152m+$755m
Apr 2026 SEC Form N-PORT+$670m$0+$670m
Mar 2026 SEC Form N-PORT+$442m−$12.8m+$429m
Feb 2026 SEC Form N-PORT+$1.1bn−$248m+$809m
Jan 2026 SEC Form N-PORT+$902m−$38.6m+$864m
Dec 2025 SEC Form N-PORT+$502m$0+$502m
Nov 2025 SEC Form N-PORT+$837m−$2.2m+$835m
Oct 2025 SEC Form N-PORT+$384m−$65.1m+$318m
Sep 2025 SEC Form N-PORT+$352m−$36.2m+$315m
Aug 2025 SEC Form N-PORT+$371m−$121m+$250m
Jul 2025 SEC Form N-PORT+$376m−$134m+$243m
Jun 2025 SEC Form N-PORT+$452m−$34.8m+$417m
May 2025 SEC Form N-PORT+$267m$0+$267m
Apr 2025 SEC Form N-PORT+$251m−$23.9m+$228m
Mar 2025 SEC Form N-PORT+$278m−$5.7m+$272m
Feb 2025 SEC Form N-PORT+$149m−$5.7m+$143m
Jan 2025 SEC Form N-PORT+$245m−$29.7m+$215m
Dec 2024 SEC Form N-PORT+$316m$0+$316m
Nov 2024 SEC Form N-PORT+$138m$0+$138m
Oct 2024 SEC Form N-PORT+$128m−$2.8m+$125m
Sep 2024 SEC Form N-PORT+$193m$0+$193m
Aug 2024 SEC Form N-PORT+$65.8m$0+$65.8m
Jul 2024 SEC Form N-PORT+$106m−$4.5m+$102m
Jun 2024 SEC Form N-PORT+$369m−$125m+$244m
May 2024 SEC Form N-PORT+$99.8m−$10.7m+$89.1m
Apr 2024 SEC Form N-PORT+$106m−$22.3m+$83.3m
Mar 2024 SEC Form N-PORT+$95.2m−$3.6m+$91.6m
Feb 2024 SEC Form N-PORT+$23.1m−$11.0m+$12.1m
Jan 2024 SEC Form N-PORT+$4.7m−$14.2m−$9.4m
Dec 2023 SEC Form N-PORT+$41.8m−$4.1m+$37.7m
Nov 2023 SEC Form N-PORT+$17.0m$0+$17.0m
Oct 2023 SEC Form N-PORT+$10.8m−$17.1m−$6.3m
Sep 2023 SEC Form N-PORT+$17.0m$0+$17.0m
Aug 2023 SEC Form N-PORT+$12.9m−$10.6m+$2.2m
Jul 2023 SEC Form N-PORT+$28.8m−$8.9m+$20.0m
Jun 2023 SEC Form N-PORT+$17.1m−$4.6m+$12.5m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of May 31, 2026. Updated when the fund files its next report.

PVAL key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$54.58 on Aug 14, 2026
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$42.82 on Nov 20, 2025
Close on Oct 28, 2026, within that range (ETFIQ)$54.31, 98% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)0.91, against IWD
R-squared, the same days (ETFIQ)0.85
Beta and R-squared measured over251 daily total returns, Oct 29, 2025 to Oct 28, 2026
Holdings44
Top ten weight42.8%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 12, 2025
Trading · PVALas of Nov 12, 2025
·
Not scored1 of 6 measured · Nov 12, 2025
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

PVAL top ten by weight, 42.8% of the fund, of its 44 equity positions, from the holdings filed for Aug 31, 2026. Source: the fund’s SEC filing.

MICROSOFT CORP MSFT 9.27%
APPLE INC AAPL 6.70%
AMAZON.COM INC AMZN 4.71%
EXXONMOBIL HOLDINGS CORP XOM 3.77%
CHARLES SCHWAB CORP (THE) SCHW 3.25%
CITIGROUP INC C 3.25%
FREEPORT-MCMORAN INC FCX 3.13%
COCA-COLA COMPANY (THE) KO 2.95%
CISCO SYSTEMS INC CSCO 2.88%
ALLSTATE CORP (THE) ALL 2.86%
Fund filings on SEC EDGAR ↗See all 44 holdings →Check overlap with another fund →

Source: Holdings filing (SEC Form N-PORT). Data as of Aug 31, 2026.

Funds near this one
MGVDFUVSCHVHDVRWLFDVV

Also against IWD, VYM, SCHG, IAU, DIA, SCHB, IEF, CGDV, VBR, LQD, VGK, FNDX, RDVY, VOE, PULS, SPHQ, HYG, DGRW, ONEQ, FDVV, PDBC, VPU, VDC, FELV, SEIV, SPY, QQQ, VUG, VGT, XLK, IWF, VIG, ITOT, VT, SCHX, SPYG, XLF, IVE, IWB, QUAL, VONG, XLV, DGRO, DYNF, SPYV, MGK, ACWI, IUSV, VOOG, CGGR, IYW, USMV, AVLV, SPMO, FTEC, VONV, DFUS, VHT, MTUM, HDV, SCHV, DFUV, AVUS, MGV, XLG, IGM, RWL, PRF, VLUE, SPYD, JAVA, SPLV, DFLV, VOOV, DLN, EAGL, IWX, SPHD, EQWL, NULV, BGIG, PWV, BKDV, DTD, FNDB, RDIV, DUSA, LGLV, TVAL, JVAL, OAKM, IUS, VEA, IEFA, IEMG, AGG, GLD, VWO, IJH, SGOV, IJR, RSP, BNDX, VB, EFA, IWM, SCHF, VEU, VCIT, IXUS, MUB, IUSB, VTEB, BIL, TLT, BSV, XLE, VCSH, GOVT, VGIT, VNQ, MBB, VGSH, IDEV, JAAA, AVUV, XLI, GLDM, VXF, EEM, SHY, AVEM, EMXC, SLV, USHY, MDY, EWY, XLU, EWJ, IGSB, DVY, VBK, XLY, XLC, SDY, SHV, VYMI, VTIP, AVDV, COWZ, IGIB, ACWX, USFR, IEI, BINC, VTWO, SCHP, MINT, TIP, XLP, BOXX, IWO, EMB, VBIL, EWT, PFF, MOAT, NOBL, FENI, SPSB, SCHH, IBB, VDE, VGLT, XBI, EWZ, VUSB, EZU, VPL, URTH, BOND, FDL, XLB, XLRE, CGBL, FTCS, IJS, FBCG, VCLT, IJT, VOX, JNK, INDA, MAGS, HGER, XOP, GRNY, KRE, AOR, IYR, HYMB, FXI, SIVR, EDV, GARP, ILF, DIVB, XOVR, USO, FLKR, IYE, VTC, BITO, XHB, IWC, XRT, BWET.

About PVAL

What it tracksNo index, actively managed
Fund typeEquity fund
Category (ETFIQ)Stocks · U.S. large-cap value
Expense ratio (485BPOS XBRL, Dec 23, 2025)0.55%
Price$54.31
First tradedMay 26, 2021
Net assets (SEC filing, whole fund, as filed for Aug 31, 2026)$14.1bnReport
Benchmark (ETFIQ, from its filings)Russell 1000 Value Index, measured by IWD, which tracks the same index
Benchmark named inits shareholder report, N-CSR, Oct 28, 2026
PVAL, 1 year to Oct 28, 2026+26.6%
IWD, the same days+27.5%
Against its benchmark, 1 year (ETFIQ)−0.9 pts
Below its high (ETFIQ)−0.3%
Holdings44
Top ten weight42.8%
Holdings as of (SEC N-PORT)Aug 31, 2026
Already in the S&P 500, by weight (ETFIQ)91.4%
Active share vs the S&P 500 (ETFIQ)75.3%
Already in the Nasdaq-100, by weight (ETFIQ)33.5%
IQ Investment Committee on PVAL

12 seats on PVAL, as of Oct 28, 2026: 1 Supports, 4 Mixed, 6 Challenges, 1 Not enough data.

In the tradition ofJohn BogleBogle-style Low CostMixed
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyChallenges
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityMixed
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceChallenges
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationMixed
In the tradition ofCathie WoodWood-style Disruptive InnovationChallenges
In the tradition ofJesse LivermoreLivermore-style Trend FollowingSupports
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatMixed
Put PVAL to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about PVAL

How has PVAL performed?
Over the year to Oct 28, 2026, PVAL returned +26.6% with distributions reinvested, against +27.5% for its benchmark, the Russell 1000 Value Index. Over three years the number is +103.5%.
What does PVAL cost?
The prospectus expense ratio is 0.55% a year.
What does PVAL hold?
44 positions as filed for Aug 31, 2026, with the top ten at 42.8% of the fund. 91% of its weight is in stocks the S&P 500 also holds.
How far is PVAL below its high?
0.3% below its high of Aug 14, 2026, measured on the reinvested series to Oct 28, 2026.
Sources and dates
Prices, PVAL, Benchmark (IWD) and S&P 500 (SPY)Tiingo end-of-day · Oct 28, 2026
Fee, 0.55%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $14.1bnSEC filing, whole fund · Aug 31, 2026
HoldingsHoldings filing (SEC Form N-PORT) · Aug 31, 2026 ↗
IssuerPutnam website ↗
All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
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ETFIQ, PVAL, stock fund, data as of Oct 28, 2026. https://etfiq.com/funds/pval

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

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PVAL: PVAL over 1 year: total return +26.6%, its benchmark Russell 1000 Value Index through IWD +27.5%, −0.8 pts. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/pval"><img src="https://etfiq.com/assistant/api/embed/core/pval.svg" alt="PVAL: PVAL over 1 year: total return +26.6%, its benchmark Russell 1000 Value Index through IWD +27.5%, −0.8 pts. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">PVAL: PVAL over 1 year: total return +26.6%, its benchmark Russell 1000 Value Index through IWD +27.5%, −0.8 pts. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/pval">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.