PVAL vs. VITAX

Last updated Jun 4, 2026

PVAL (Putnam Focused Large Cap Value ETF) and VITAX (Vanguard Information Technology Index Fund Admiral Shares) are both funds - PVAL is a Large Cap Value Equities fund actively managed by Putnam, while VITAX is a Technology Equities fund tracking the MSCI US IMI Info Technology 25/50. PVAL is actively managed, while VITAX is passively managed. Over the past 5 years, PVAL returned 15.96%/yr vs 23.05%/yr for VITAX. A 0.65 correlation means they provide meaningful diversification when combined. PVAL charges 0.55%/yr vs 0.10%/yr for VITAX.

Performance

PVAL vs. VITAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused Large Cap Value ETF (PVAL) and Vanguard Information Technology Index Fund Admiral Shares (VITAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVAL achieves a 11.75% return, which is significantly lower than VITAX's 33.66% return.

PVAL

• 1D: -0.16%
• 1M: 3.63%
• YTD: 11.75%
• 6M: 14.36%
• 1Y: 32.58%
• 3Y*: 23.81%
• 5Y*: 15.96%
• 10Y*: —

VITAX

• 1D: 1.27%
• 1M: 19.87%
• YTD: 33.66%
• 6M: 32.51%
• 1Y: 62.61%
• 3Y*: 34.15%
• 5Y*: 23.05%
• 10Y*: 25.97%

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

PVAL vs. VITAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PVAL Putnam Focused Large Cap Value ETF	11.75%	24.13%	19.30%	18.41%	-2.61%	11.44%
VITAX Vanguard Information Technology Index Fund Admiral Shares	33.66%	21.78%	29.26%	52.69%	-29.67%	23.51%

Correlation

The correlation between PVAL and VITAX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since May 27, 2021	0.65

The correlation between PVAL and VITAX shifts across timeframes, from 0.52 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

PVAL vs. VITAX - Sectors Allocation Comparison

Sectors	PVAL	VITAX
Financial Services	19.1%	0.5%
Healthcare	12.6%	0.0%
Industrials	12.1%	0.4%
Technology	11.9%	98.5%
Consumer Cyclical	10.2%	0.1%
Energy	8.4%	0.3%
Consumer Defensive	8.3%	-
Communication Services	5.8%	0.5%
Utilities	5.0%	-
Basic Materials	4.4%	0.0%
Real Estate	2.1%	-

Return for Risk

PVAL vs. VITAX — Risk / Return Rank

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

PVAL

PVAL Risk / Return Rank: 87
PVAL Sharpe Ratio Rank: 88
PVAL Sortino Ratio Rank: 90
PVAL Omega Ratio Rank: 87
PVAL Calmar Ratio Rank: 83
PVAL Martin Ratio Rank: 84

VITAX

VITAX Risk / Return Rank: 81
VITAX Sharpe Ratio Rank: 93
VITAX Sortino Ratio Rank: 82
VITAX Omega Ratio Rank: 78
VITAX Calmar Ratio Rank: 85
VITAX Martin Ratio Rank: 65

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. VITAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) and Vanguard Information Technology Index Fund Admiral Shares (VITAX). 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.

	PVAL	VITAX	Difference
Sharpe ratio Return per unit of total volatility	3.04	3.18	-0.14
Sortino ratio Return per unit of downside risk	4.28	3.86	+0.42
Omega ratio Gain probability vs. loss probability	1.55	1.51	+0.05
Calmar ratio Return relative to maximum drawdown	4.53	4.00	+0.53
Martin ratio Return relative to average drawdown	17.33	12.75	+4.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PVAL vs. VITAX - Sharpe Ratio Comparison

The current PVAL Sharpe Ratio is 3.04, which is comparable to the VITAX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of PVAL and VITAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PVAL	VITAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	3.18	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.91	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.67	+0.40

Drawdowns

PVAL vs. VITAX - Drawdown Comparison

The maximum PVAL drawdown since its inception was -16.64%, smaller than the maximum VITAX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for PVAL and VITAX.

Drawdown Indicators

	PVAL	VITAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-54.81%	+38.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-16.38%	+9.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-27.38%	+11.96%
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	-35.10%	+18.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.02%	-8.02%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	5.13%	-3.24%

Volatility

PVAL vs. VITAX - Volatility Comparison

The current volatility for Putnam Focused Large Cap Value ETF (PVAL) is 2.30%, while Vanguard Information Technology Index Fund Admiral Shares (VITAX) has a volatility of 6.01%. This indicates that PVAL experiences smaller price fluctuations and is considered to be less risky than VITAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVAL	VITAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	6.01%	-3.71%
Volatility (6M) Calculated over the trailing 6-month period	8.19%	16.09%	-7.90%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	20.61%	-9.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	25.39%	-10.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.24%	24.84%	-9.60%

PVAL vs. VITAX - Expense Ratio Comparison

PVAL has a 0.55% expense ratio, which is higher than VITAX's 0.10% expense ratio.

Dividends

PVAL vs. VITAX - Dividend Comparison

PVAL's dividend yield for the trailing twelve months is around 0.98%, more than VITAX's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PVAL Putnam Focused Large Cap Value ETF	0.98%	1.00%	1.34%	1.33%	0.59%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.30%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both PVAL and VITAX in my portfolio?

PVAL and VITAX have a correlation of 0.52, 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 VITAX?

VITAX has higher volatility (6.01%) compared to PVAL (2.30%). In terms of maximum drawdown, PVAL dropped -16.64% vs VITAX's -54.81%.

Which has better risk-adjusted returns?

VITAX currently has the higher Sharpe Ratio (3.18 vs 3.04), 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.