PVAL vs. VFMV

Last updated Jun 13, 2026

PVAL (Putnam Focused Large Cap Value ETF) and VFMV (Vanguard U.S. Minimum Volatility ETF) are both exchange-traded funds - PVAL is a Large Cap Value Equities fund actively managed by Putnam, while VFMV is a Mid Cap Blend Equities fund actively managed by Vanguard. Both are actively managed. Over the past 5 years, PVAL returned 16.29%/yr vs 9.55%/yr for VFMV. Their correlation of 0.81 suggests significant overlap in exposure. PVAL charges 0.55%/yr vs 0.13%/yr for VFMV.

Performance

PVAL vs. VFMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused Large Cap Value ETF (PVAL) and Vanguard U.S. Minimum Volatility ETF (VFMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVAL achieves a 13.07% return, which is significantly higher than VFMV's 8.57% return.

PVAL

• 1D: 1.06%
• 1M: 3.42%
• YTD: 13.07%
• 6M: 13.55%
• 1Y: 31.96%
• 3Y*: 23.14%
• 5Y*: 16.29%
• 10Y*: —

VFMV

• 1D: 0.40%
• 1M: 1.39%
• YTD: 8.57%
• 6M: 7.81%
• 1Y: 12.36%
• 3Y*: 14.22%
• 5Y*: 9.55%
• 10Y*: —

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

PVAL vs. VFMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PVAL Putnam Focused Large Cap Value ETF	13.07%	24.13%	19.30%	18.41%	-2.61%	11.77%
VFMV Vanguard U.S. Minimum Volatility ETF	8.57%	10.52%	16.91%	8.86%	-5.73%	11.87%

Correlation

The correlation between PVAL and VFMV 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	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.81

The correlation between PVAL and VFMV has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

PVAL vs. VFMV - Sectors Allocation Comparison

Sectors	PVAL	VFMV
Financial Services	19.1%	10.6%
Healthcare	12.6%	10.1%
Industrials	12.1%	10.1%
Technology	11.9%	25.1%
Consumer Cyclical	10.2%	6.9%
Energy	8.4%	3.9%
Consumer Defensive	8.3%	9.5%
Communication Services	5.8%	10.7%
Utilities	5.0%	6.7%
Basic Materials	4.4%	-
Real Estate	2.1%	6.4%

Return for Risk

PVAL vs. VFMV — Risk / Return Rank

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

PVAL

PVAL Risk / Return Rank: 90
PVAL Sharpe Ratio Rank: 93
PVAL Sortino Ratio Rank: 92
PVAL Omega Ratio Rank: 91
PVAL Calmar Ratio Rank: 88
PVAL Martin Ratio Rank: 88

VFMV

VFMV Risk / Return Rank: 47
VFMV Sharpe Ratio Rank: 46
VFMV Sortino Ratio Rank: 46
VFMV Omega Ratio Rank: 43
VFMV Calmar Ratio Rank: 47
VFMV Martin Ratio Rank: 53

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.

PVAL vs. VFMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) and Vanguard U.S. Minimum Volatility ETF (VFMV). 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	VFMV	Difference
Sharpe ratio: Return per unit of total volatility	2.89	1.41	+1.48
Sortino ratio: Return per unit of downside risk	4.03	2.05	+1.98
Omega ratio: Gain probability vs. loss probability	1.52	1.25	+0.28
Calmar ratio: Return relative to maximum drawdown	4.45	2.07	+2.38
Martin ratio: Return relative to average drawdown	16.87	8.03	+8.84

PVAL vs. VFMV - Sharpe Ratio Comparison

The current PVAL Sharpe Ratio is 2.89, which is higher than the VFMV Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of PVAL and VFMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PVAL vs. VFMV - Drawdown Comparison

The maximum PVAL drawdown since its inception was -16.64%, smaller than the maximum VFMV drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for PVAL and VFMV.

Drawdown Indicators

	PVAL	VFMV	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-33.64%	+17.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-6.00%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-10.35%	-5.07%
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	-15.41%	-1.23%
Current Drawdown Current decline from peak	0.00%	-0.98%	+0.98%
Average Drawdown Average peak-to-trough decline	-3.01%	-3.63%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.55%	+0.35%

Volatility

PVAL vs. VFMV - Volatility Comparison

Putnam Focused Large Cap Value ETF (PVAL) has a higher volatility of 3.68% compared to Vanguard U.S. Minimum Volatility ETF (VFMV) at 2.30%. This indicates that PVAL's price experiences larger fluctuations and is considered to be riskier than VFMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVAL	VFMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.30%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	6.32%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	8.83%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	11.75%	+3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.25%	14.23%	+1.02%

PVAL vs. VFMV - Expense Ratio Comparison

PVAL has a 0.55% expense ratio, which is higher than VFMV's 0.13% expense ratio.

Dividends

PVAL vs. VFMV - Dividend Comparison

PVAL's dividend yield for the trailing twelve months is around 0.97%, less than VFMV's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PVAL Putnam Focused Large Cap Value ETF	0.97%	1.00%	1.34%	1.33%	0.59%	0.47%	0.00%	0.00%	0.00%
VFMV Vanguard U.S. Minimum Volatility ETF	1.93%	2.12%	1.46%	2.20%	2.08%	1.31%	2.14%	2.43%	2.29%

Frequently Asked Questions

Can I hold both PVAL and VFMV in my portfolio?

PVAL and VFMV 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.

Which is riskier, PVAL or VFMV?

PVAL has higher volatility (3.68%) compared to VFMV (2.30%). In terms of maximum drawdown, PVAL dropped -16.64% vs VFMV's -33.64%.

Which ETF is better, PVAL or VFMV?

On 5-year performance, PVAL leads with 16.29% vs 9.55% for VFMV. On fees, VFMV is cheaper at 0.13% per year. On volatility, VFMV has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVAL or VFMV?

Over the 5-year period, PVAL has performed better with a 16.29% return vs 9.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVAL or VFMV?

VFMV is cheaper with a 0.13% expense ratio, compared with 0.55% for PVAL.

Which ETF pays a higher dividend yield, PVAL or VFMV?

VFMV has the higher dividend yield at 1.93%, compared with 0.97% for PVAL.

What is the main difference between PVAL and VFMV?

PVAL is categorized as Large Cap Value Equities, while VFMV is Mid Cap Blend Equities. They also come from different issuers: Putnam and Vanguard. Their fees differ too: 0.55% for PVAL and 0.13% for VFMV.

Which has better risk-adjusted returns?

PVAL currently has the higher Sharpe Ratio (2.89 vs 1.41), 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.