PVAL vs. KWIN
PVAL (Putnam Focused Large Cap Value ETF) and KWIN (KraneShares Wahed Alternative Income Index ETF) are both Large Cap Value Equities funds. PVAL is actively managed, while KWIN is passively managed. Their 0.05 correlation means their historical movements had little consistent relationship. PVAL charges 0.55%/yr vs 0.51%/yr for KWIN.
Performance
PVAL vs. KWIN - Performance Comparison
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Returns By Period
In the year-to-date period, PVAL achieves a 17.84% return, which is significantly higher than KWIN's 2.05% return.
PVAL
- 1D
- 0.06%
- 1M
- 3.62%
- 6M
- 13.49%
- YTD
- 17.84%
- 1Y
- 35.15%
- 3Y*
- 22.28%
- 5Y*
- 17.22%
- 10Y*
- —
- ALL TIME*
- 16.94%
KWIN
- 1D
- 0.27%
- 1M
- -1.00%
- 6M
- 1.90%
- YTD
- 2.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $349.84K | $511.88K | $448.46K | |
| $116.61M | $103.87M | $91.12M |
PVAL vs. KWIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PVAL Putnam Focused Large Cap Value ETF | 17.84% | 6.39% |
KWIN KraneShares Wahed Alternative Income Index ETF | 2.05% | 0.61% |
Correlation
The correlation between PVAL and KWIN is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | 0.05 |
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Return for Risk
PVAL vs. KWIN — Risk / Return Rank
PVAL
KWIN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PVAL vs. KWIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) and KraneShares Wahed Alternative Income Index ETF (KWIN). 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 | KWIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.54 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | — | — |
| Martin ratioReturn relative to average drawdown | 17.86 | — | — |
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Drawdowns
PVAL vs. KWIN - Drawdown Comparison
The maximum PVAL drawdown since its inception was -16.64%, which is greater than KWIN's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for PVAL and KWIN.
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Drawdown Indicators
| PVAL | KWIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.64% | -1.58% | -15.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.64% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.00% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -0.33% | -2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | — | — |
Volatility
PVAL vs. KWIN - Volatility Comparison
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Volatility by Period
| PVAL | KWIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.24% | 4.04% | +7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 4.04% | +11.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.14% | 4.04% | +11.10% |
PVAL vs. KWIN - Expense Ratio Comparison
PVAL has a 0.55% expense ratio, which is higher than KWIN's 0.51% expense ratio.
Dividends
PVAL vs. KWIN - Dividend Comparison
PVAL's dividend yield for the trailing twelve months is around 0.90%, while KWIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KWIN KraneShares Wahed Alternative Income Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PVAL Putnam Focused Large Cap Value ETF | 0.90% | 1.00% | 1.34% | 1.33% | 0.59% | 0.47% |
Frequently Asked Questions
PVAL and KWIN have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KWIN is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KWIN is cheaper with a 0.51% expense ratio, compared with 0.55% for PVAL.
PVAL has the higher dividend yield at 0.90%, compared with 0.00% for KWIN.
They also come from different issuers: Putnam and KraneShares. Their fees differ too: 0.55% for PVAL and 0.51% for KWIN.
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