DIVZ vs. PVAL

Last updated Apr 1, 2026

Compare and contrast key facts about Opal Dividend Income ETF (DIVZ) and Putnam Focused Large Cap Value ETF (PVAL).

DIVZ and PVAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DIVZ is an actively managed fund by TrueShares. It was launched on Jan 27, 2021. PVAL is an actively managed fund by Putnam. It was launched on May 25, 2021.

Performance

DIVZ vs. PVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Opal Dividend Income ETF (DIVZ) and Putnam Focused Large Cap Value ETF (PVAL). The values are adjusted to include any dividend payments, if applicable.

DIVZ vs. PVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	3.04%	16.72%	18.44%	-0.51%	3.51%	3.39%
PVAL Putnam Focused Large Cap Value ETF	1.82%	24.13%	19.30%	18.41%	-2.61%	11.44%

Returns By Period

In the year-to-date period, DIVZ achieves a 3.04% return, which is significantly higher than PVAL's 1.82% return.

DIVZ

• 1D: 0.18%
• 1M: -4.56%
• YTD: 3.04%
• 6M: 3.75%
• 1Y: 12.65%
• 3Y*: 13.65%
• 5Y*: 9.87%
• 10Y*: —

PVAL

• 1D: 2.05%
• 1M: -4.23%
• YTD: 1.82%
• 6M: 9.15%
• 1Y: 23.20%
• 3Y*: 20.23%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DIVZ vs. PVAL - Expense Ratio Comparison

DIVZ has a 0.65% expense ratio, which is higher than PVAL's 0.55% expense ratio.

DIVZ

Opal Dividend Income ETF

PVAL

Putnam Focused Large Cap Value ETF

Return for Risk

DIVZ vs. PVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIVZ

DIVZ Risk / Return Rank: 62
DIVZ Sharpe Ratio Rank: 62
DIVZ Sortino Ratio Rank: 58
DIVZ Omega Ratio Rank: 59
DIVZ Calmar Ratio Rank: 64
DIVZ Martin Ratio Rank: 68

PVAL

PVAL Risk / Return Rank: 81
PVAL Sharpe Ratio Rank: 80
PVAL Sortino Ratio Rank: 80
PVAL Omega Ratio Rank: 83
PVAL Calmar Ratio Rank: 80
PVAL Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIVZ vs. PVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) and Putnam Focused Large Cap Value ETF (PVAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DIVZ	PVAL	Difference
Sharpe ratio Return per unit of total volatility	1.06	1.45	-0.39
Sortino ratio Return per unit of downside risk	1.47	2.00	-0.53
Omega ratio Gain probability vs. loss probability	1.21	1.31	-0.10
Calmar ratio Return relative to maximum drawdown	1.58	2.06	-0.49
Martin ratio Return relative to average drawdown	6.66	9.20	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVZ vs. PVAL - Sharpe Ratio Comparison

The current DIVZ Sharpe Ratio is 1.06, which is comparable to the PVAL Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of DIVZ and PVAL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DIVZ	PVAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.45	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.96	-0.04

Correlation

The correlation between DIVZ and PVAL is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DIVZ vs. PVAL - Dividend Comparison

DIVZ's dividend yield for the trailing twelve months is around 2.68%, more than PVAL's 0.98% yield.

	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.68%	2.60%	2.63%	3.66%	3.23%	3.83%
PVAL Putnam Focused Large Cap Value ETF	0.98%	1.00%	1.34%	1.33%	0.59%	0.47%

Drawdowns

DIVZ vs. PVAL - Drawdown Comparison

The maximum DIVZ drawdown since its inception was -15.42%, smaller than the maximum PVAL drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for DIVZ and PVAL.

Drawdown Indicators

	DIVZ	PVAL	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-16.64%	+1.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-11.94%	+3.47%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Current Drawdown Current decline from peak	-4.56%	-5.33%	+0.77%
Average Drawdown Average peak-to-trough decline	-3.47%	-3.09%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	2.68%	-0.62%

Volatility

DIVZ vs. PVAL - Volatility Comparison

The current volatility for Opal Dividend Income ETF (DIVZ) is 2.80%, while Putnam Focused Large Cap Value ETF (PVAL) has a volatility of 4.48%. This indicates that DIVZ experiences smaller price fluctuations and is considered to be less risky than PVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVZ	PVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	4.48%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	6.57%	8.51%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	16.14%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.58%	15.39%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	15.39%	-2.78%