PVAL vs. DIVB
PVAL (Putnam Focused Large Cap Value ETF) and DIVB (iShares Core Dividend ETF) are both exchange-traded funds - PVAL is a Large Cap Value Equities fund actively managed by Putnam, while DIVB is a Dividend fund tracking the Morningstar US Dividend and Buyback Index. PVAL is actively managed, while DIVB is passively managed. Over the past 5 years, PVAL returned 16.78%/yr vs 12.91%/yr for DIVB. Their correlation of 0.90 suggests significant overlap in exposure. PVAL charges 0.55%/yr vs 0.05%/yr for DIVB.
Performance
PVAL vs. DIVB - Performance Comparison
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Returns By Period
In the year-to-date period, PVAL achieves a 14.45% return, which is significantly lower than DIVB's 22.13% return.
PVAL
- 1D
- 0.10%
- 1M
- 1.22%
- 6M
- 11.34%
- YTD
- 14.45%
- 1Y
- 28.14%
- 3Y*
- 22.37%
- 5Y*
- 16.78%
- 10Y*
- —
DIVB
- 1D
- 0.94%
- 1M
- 3.79%
- 6M
- 19.39%
- YTD
- 22.13%
- 1Y
- 29.18%
- 3Y*
- 21.85%
- 5Y*
- 12.91%
- 10Y*
- —
PVAL vs. DIVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PVAL Putnam Focused Large Cap Value ETF | 14.45% | 24.13% | 19.30% | 18.41% | -2.61% | 11.77% |
DIVB iShares Core Dividend ETF | 22.13% | 15.09% | 18.59% | 13.27% | -10.51% | 10.98% |
Correlation
The correlation between PVAL and DIVB is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.90 |
The correlation between PVAL and DIVB shifts across timeframes, from 0.80 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PVAL vs. DIVB — Risk / Return Rank
PVAL
DIVB
PVAL vs. DIVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) and iShares Core Dividend ETF (DIVB). 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.
| PVAL | DIVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.44 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 4.30 | -0.38 |
| Martin ratioReturn relative to average drawdown | 14.73 | 14.43 | +0.30 |
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Drawdowns
PVAL vs. DIVB - Drawdown Comparison
The maximum PVAL drawdown since its inception was -16.64%, smaller than the maximum DIVB drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for PVAL and DIVB.
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Drawdown Indicators
| PVAL | DIVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.64% | -36.93% | +20.29% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -6.82% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -15.45% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -16.64% | -21.08% | +4.44% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -4.94% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.03% | -0.11% |
Volatility
PVAL vs. DIVB - Volatility Comparison
The current volatility for Putnam Focused Large Cap Value ETF (PVAL) is 3.11%, while iShares Core Dividend ETF (DIVB) has a volatility of 3.92%. This indicates that PVAL experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PVAL | DIVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 3.92% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 8.50% | 9.02% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.12% | 11.90% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.26% | 15.30% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 18.34% | -3.16% |
PVAL vs. DIVB - Expense Ratio Comparison
PVAL has a 0.55% expense ratio, which is higher than DIVB's 0.05% expense ratio.
Dividends
PVAL vs. DIVB - Dividend Comparison
PVAL's dividend yield for the trailing twelve months is around 0.93%, less than DIVB's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 2.17% | 2.50% | 2.61% | 3.18% | 2.02% | 1.63% | 2.08% | 2.07% | 2.52% | 0.37% |
PVAL Putnam Focused Large Cap Value ETF | 0.93% | 1.00% | 1.34% | 1.33% | 0.59% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PVAL and DIVB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (3.92%) compared to PVAL (3.11%). In terms of maximum drawdown, PVAL dropped -16.64% vs DIVB's -36.93%.
On 5-year performance, PVAL leads with 16.78% vs 12.91% for DIVB. On fees, DIVB is cheaper at 0.05% per year. On volatility, PVAL has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PVAL has performed better with a 16.78% return vs 12.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVB is cheaper with a 0.05% expense ratio, compared with 0.55% for PVAL.
DIVB has the higher dividend yield at 2.17%, compared with 0.93% for PVAL.
PVAL is categorized as Large Cap Value Equities, while DIVB is Dividend. They also come from different issuers: Putnam and iShares. Their fees differ too: 0.55% for PVAL and 0.05% for DIVB.
PVAL currently has the higher Sharpe Ratio (2.55 vs 2.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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