IWD vs PVAL
iShares Russell 1000 Value ETF vs Putnam Focused Large Cap Value ETF
Which is better, IWD or PVAL?
Nearly the same fund. IWD costs less.
IWD has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. IWD is less concentrated, with 29.7% 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 | IWD | PVAL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.55% |
| AUM | $83.2B | $14.9B |
| Dividend Yield | 1.43% | 0.92% |
| Holdings | 869 | 93 |
| YTD Return | +21.07%Best | +17.95% |
| 1Y Return | +27.09% | +27.77%Best |
| 3Y Return (annualized) | +20.91% | +24.11%Best |
| 5Y Return (annualized) | +11.56% | +16.54%Best |
| Volatility (annualized) | 14.6%Tie | 14.6%Tie |
| Max Drawdown | -19.0% | -16.6%Best |
| $10,000 over 5 years | $17,280 | $21,497Best |
| Top 10 Weight | 29.7%Best | 42.7% |
| Fund Family | iShares by BlackRock (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 22, 2000 | 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).
IWD 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.
IWD vs PVAL Performance
iShares Russell 1000 Value ETF (IWD) is an ETF from iShares by BlackRock (US) and Putnam Focused Large Cap Value ETF (PVAL) is an ETF from Putnam Investments. Over the past year IWD returned +27.09% while PVAL returned +27.77%. Year to date, IWD is up 21.07% versus a gain of 17.95% for PVAL.
Over three years, IWD compounded at +20.91% per year against +24.11% for PVAL; over five years the annualized figures are +11.56% and +16.54% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IWD and PVAL have been equally volatile, both at 14.6% annualized.
The deepest peak-to-trough decline in our data was -19.0% for IWD 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IWD charges 0.18% per year while PVAL charges 0.55%. On a $10,000 position that is $18 vs $55 annually, a gap of $37 per year that compounds over a long holding period. On income, IWD currently yields 1.43% against 0.92% for PVAL.
Holdings Overlap
32.7% of IWD's money is in holdings PVAL also owns. 89.6% of PVAL's money is in holdings IWD also owns.
Most of PVAL is already inside IWD. Owning both mostly buys the same companies twice.
38 positions in common, counted across the 871 positions we hold weights for in IWD and 45 in PVAL, against full books of 869 and 93.
What only one of them owns
Our book lists 4 positions for PVAL that do not appear in our book for IWD (6.7% of the fund), and 755 for IWD that do not appear in PVAL (65.7%).
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 IWD | Weight in PVAL | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.23% | 9.26% | 4.03% |
| AAPLApple, Inc | 6.01% | 6.69% | 0.68% |
| AMZNAmazon.Com Inc | 6.06% | 4.70% | 1.36% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 1.85% | 3.76% | 1.91% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.18% | 2.88% | 1.70% |
| KOCoca-Cola Co/The | 0.81% | 2.94% | 2.13% |
| CCitigroup, Inc. | 0.49% | 3.24% | 2.75% |
| SCHWCharles Schwab Corp. | 0.41% | 3.24% | 2.83% |
| BACBank Of America Corp. | 0.89% | 2.69% | 1.80% |
| PMPhilip Morris International Inc. | 0.81% | 2.64% | 1.83% |
89.6% of PVAL is already inside IWD.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IWD or PVAL?
IWD has an expense ratio of 0.18% while PVAL charges 0.55%. IWD is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, IWD or PVAL?
Over the past year IWD returned +27.09% 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, IWD or PVAL?
IWD and PVAL have been equally volatile, both at 14.6% annualized. Worst drawdown: IWD -19.0% vs PVAL -16.6%.
Should I hold both IWD and PVAL?
IWD and PVAL have a monthly-return correlation of 0.97, 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 IWD and PVAL?
89.6% of PVAL's money is in holdings IWD also owns. 89.6% of PVAL's is in holdings IWD also owns. They hold 38 positions in common, counted across the 871 positions we hold weights for in IWD and 45 in PVAL.
Which pays a higher dividend, IWD or PVAL?
IWD yields 1.43% while PVAL yields 0.92%, so IWD currently pays the higher dividend yield.
Is PVAL better than IWD?
IWD has a lower expense ratio. PVAL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. IWD is less concentrated, with 29.7% 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.