FBCV vs PVAL
Fidelity Blue Chip Value ETF vs Putnam Focused Large Cap Value ETF
Which is better, FBCV or PVAL?
PVAL has been ahead.
PVAL has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. FBCV is less concentrated, with 33.3% of the fund in its ten largest positions against 42.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FBCV | PVAL |
|---|---|---|
| Expense Ratio | 0.57% | 0.55%Best |
| AUM | $184M | $14.9B |
| Dividend Yield | 1.25% | 0.92% |
| Holdings | 127 | 93 |
| YTD Return | +18.42%Best | +17.95% |
| 1Y Return | +24.20% | +27.77%Best |
| 3Y Return (annualized) | +16.61% | +24.11%Best |
| 5Y Return (annualized) | +10.11% | +16.54%Best |
| Volatility (annualized) | 13.0%Best | 14.6% |
| Max Drawdown | -15.6%Best | -16.6% |
| $10,000 over 5 years | $16,186 | $21,497Best |
| Top 10 Weight | 33.3%Best | 42.7% |
| Fund Family | Fidelity Investments (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 2, 2020 | May 25, 2021 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2021 to Oct 14, 2026 (5.4 years).
FBCV vs PVAL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.4 years both funds cover.
FBCV vs PVAL Performance
Fidelity Blue Chip Value ETF (FBCV) is an ETF from Fidelity Investments (US) and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year FBCV returned +24.20% while PVAL returned +27.77%. Year to date, FBCV is up 18.42% versus a gain of 17.95% for PVAL.
Over three years, FBCV compounded at +16.61% per year against +24.11% for PVAL; over five years the annualized figures are +10.11% and +16.54% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PVAL has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 13.0% for FBCV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.6% for FBCV and -16.6% for PVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FBCV charges 0.57% per year while PVAL charges 0.55%. On a $10,000 position that is $57 vs $55 annually, a gap of $2 per year that compounds over a long holding period. On income, FBCV currently yields 1.25% against 0.92% for PVAL.
Holdings Overlap
32.3% of FBCV's money is in holdings PVAL also owns. 47.5% of PVAL's money is in holdings FBCV also owns.
The two portfolios partly overlap.
The two holdings books were reported 69 days apart, FBCV as of Jul 31, 2026 and PVAL as of Oct 8, 2026, so some of the difference between them is the time between the two reports rather than the funds.
14 positions in common, counted across the 133 positions we hold weights for in FBCV and 45 in PVAL, against full books of 127 and 93.
What only one of them owns
Our book lists 29 positions for PVAL that do not appear in our book for FBCV (50.3% of the fund), and 96 for FBCV that do not appear in PVAL (59.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FBCV | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.24% | 9.26% | 4.02% |
| AMZNAmazon.Com Inc | 7.46% | 4.70% | 2.76% |
| AAPLApple, Inc | 4.64% | 6.69% | 2.05% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 3.37% | 3.76% | 0.39% |
| BACBank Of America Corp. | 2.64% | 2.69% | 0.05% |
| SCHWCharles Schwab Corp. | 1.23% | 3.24% | 2.01% |
| COPConocophillips Co | 1.79% | 2.00% | 0.21% |
| UNHUnited Healthcare Corp. | 1.45% | 2.22% | 0.77% |
| TMOThermo Fisherscientific Inc. | 1.14% | 2.48% | 1.34% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.60% | 2.88% | 2.28% |
47.5% of PVAL is already inside FBCV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, FBCV or PVAL?
FBCV has an expense ratio of 0.57% while PVAL charges 0.55%. PVAL is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FBCV or PVAL?
Over the past year FBCV returned +24.20% vs +27.77% for PVAL, so PVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FBCV or PVAL?
PVAL has been the more volatile fund at 14.6% annualized versus 13.0% for FBCV. Worst drawdown: FBCV -15.6% vs PVAL -16.6%.
Should I hold both FBCV and PVAL?
FBCV and PVAL have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FBCV and PVAL?
47.5% of PVAL's money is in holdings FBCV also owns. 47.5% of PVAL's is in holdings FBCV also owns. They hold 14 positions in common, counted across the 133 positions we hold weights for in FBCV and 45 in PVAL.
Which pays a higher dividend, FBCV or PVAL?
FBCV yields 1.25% while PVAL yields 0.92%, so FBCV currently pays the higher dividend yield.
Is PVAL better than FBCV?
PVAL has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. FBCV is less concentrated, with 33.3% of the fund in its ten largest positions against 42.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.