PGRI vs. TCV

Last updated Jul 10, 2026

PGRI (Putnam International Stock ETF) and TCV (Towle Value ETF) are both exchange-traded funds - PGRI is a Actively Managed fund actively managed by Putnam, while TCV is a Small Cap Value Equities fund actively managed by Towle. Both are actively managed. A 0.56 correlation means they provide meaningful diversification when combined. PGRI charges 0.55%/yr vs 0.85%/yr for TCV.

Performance

PGRI vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam International Stock ETF (PGRI) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGRI achieves a 8.61% return, which is significantly lower than TCV's 24.97% return.

PGRI

• 1D: 0.26%
• 1M: 0.82%
• 6M: 6.03%
• YTD: 8.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCV

• 1D: 0.94%
• 1M: 2.06%
• 6M: 16.12%
• YTD: 24.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGRI vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
PGRI Putnam International Stock ETF	8.61%	-1.11%
TCV Towle Value ETF	24.97%	-0.06%

Correlation

The correlation between PGRI and TCV is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.56

Return for Risk

PGRI vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam International Stock ETF (PGRI) and Towle Value ETF (TCV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

PGRI vs. TCV - Drawdown Comparison

The maximum PGRI drawdown since its inception was -12.87%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for PGRI and TCV.

Drawdown Indicators

	PGRI	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-12.87%	-12.23%	-0.64%
Current Drawdown Current decline from peak	-3.58%	-0.69%	-2.89%
Average Drawdown Average peak-to-trough decline	-3.04%	-3.35%	+0.31%

Volatility

Volatility by Period

	PGRI	TCV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.77%	21.26%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	21.26%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.77%	21.26%	-0.49%

PGRI vs. TCV - Expense Ratio Comparison

PGRI has a 0.55% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

PGRI vs. TCV - Dividend Comparison

PGRI's dividend yield for the trailing twelve months is around 0.11%, less than TCV's 0.58% yield.

Position	TTM	2025
PGRI Putnam International Stock ETF	0.11%	0.12%
TCV Towle Value ETF	0.58%	0.31%

Frequently Asked Questions

Can I hold both PGRI and TCV in my portfolio?

PGRI and TCV have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PGRI or TCV?

On fees, PGRI is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PGRI or TCV?

PGRI is cheaper with a 0.55% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, PGRI or TCV?

TCV has the higher dividend yield at 0.58%, compared with 0.11% for PGRI.

What is the main difference between PGRI and TCV?

PGRI is categorized as Actively Managed, while TCV is Small Cap Value Equities. They also come from different issuers: Putnam and Towle. Their fees differ too: 0.55% for PGRI and 0.85% for TCV.