PVAL vs. ZIG

Last updated Jun 24, 2026

PVAL (Putnam Focused Large Cap Value ETF) and ZIG (Acquirers Fund) are both exchange-traded funds - PVAL is a Large Cap Value Equities fund actively managed by Putnam, while ZIG is a Large Cap Blend Equities fund tracking the Acquirer's Index. PVAL is actively managed, while ZIG is passively managed. Over the past 5 years, PVAL returned 16.54%/yr vs 9.54%/yr for ZIG. A 0.79 correlation means they provide meaningful diversification when combined. PVAL charges 0.55%/yr vs 1.85%/yr for ZIG.

Performance

PVAL vs. ZIG - Performance Comparison

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

Returns By Period

In the year-to-date period, PVAL achieves a 12.96% return, which is significantly higher than ZIG's 6.84% return.

PVAL

• 1D: -0.45%
• 1M: 1.91%
• YTD: 12.96%
• 6M: 12.02%
• 1Y: 31.50%
• 3Y*: 23.34%
• 5Y*: 16.54%
• 10Y*: —

ZIG

• 1D: -0.13%
• 1M: -1.85%
• YTD: 6.84%
• 6M: 5.65%
• 1Y: 12.97%
• 3Y*: 12.42%
• 5Y*: 9.54%
• 10Y*: —

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

PVAL vs. ZIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PVAL Putnam Focused Large Cap Value ETF	12.96%	24.13%	19.30%	18.41%	-2.61%	11.77%
ZIG Acquirers Fund	6.84%	-2.67%	11.34%	36.70%	-17.34%	18.07%

Correlation

The correlation between PVAL and ZIG is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.79

The correlation between PVAL and ZIG shifts across timeframes, from 0.65 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

PVAL vs. ZIG - Sectors Allocation Comparison

Sectors	PVAL	ZIG
Technology	17.1%	3.8%
Financial Services	11.8%	6.9%
Industrials	11.4%	10.2%
Healthcare	10.2%	4.2%
Consumer Cyclical	9.9%	39.9%
Energy	7.3%	14.6%
Consumer Defensive	5.1%	10.1%
Basic Materials	4.6%	10.3%
Utilities	4.3%	-
Communication Services	4.3%	-
Real Estate	2.0%	-

Return for Risk

PVAL vs. ZIG — 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: 89
PVAL Sortino Ratio Rank: 90
PVAL Omega Ratio Rank: 87
PVAL Calmar Ratio Rank: 84
PVAL Martin Ratio Rank: 84

ZIG

ZIG Risk / Return Rank: 23
ZIG Sharpe Ratio Rank: 22
ZIG Sortino Ratio Rank: 24
ZIG Omega Ratio Rank: 21
ZIG Calmar Ratio Rank: 23
ZIG Martin Ratio Rank: 25

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. ZIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) and Acquirers Fund (ZIG). 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	ZIG	Difference
Sharpe ratio: Return per unit of total volatility	2.85	0.73	+2.12
Sortino ratio: Return per unit of downside risk	3.98	1.26	+2.72
Omega ratio: Gain probability vs. loss probability	1.52	1.14	+0.38
Calmar ratio: Return relative to maximum drawdown	4.38	1.05	+3.33
Martin ratio: Return relative to average drawdown	16.61	3.12	+13.49

PVAL vs. ZIG - Sharpe Ratio Comparison

The current PVAL Sharpe Ratio is 2.85, which is higher than the ZIG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of PVAL and ZIG, 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. ZIG - Drawdown Comparison

The maximum PVAL drawdown since its inception was -16.64%, smaller than the maximum ZIG drawdown of -37.14%. Use the drawdown chart below to compare losses from any high point for PVAL and ZIG.

Drawdown Indicators

	PVAL	ZIG	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-37.14%	+20.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-12.38%	+5.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-29.75%	+14.33%
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	-29.75%	+13.11%
Current Drawdown Current decline from peak	-1.08%	-7.23%	+6.15%
Average Drawdown Average peak-to-trough decline	-3.00%	-9.71%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	4.16%	-2.26%

Volatility

PVAL vs. ZIG - Volatility Comparison

Putnam Focused Large Cap Value ETF (PVAL) and Acquirers Fund (ZIG) have volatilities of 3.55% and 3.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVAL	ZIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.49%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	9.91%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	17.95%	-6.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.29%	20.48%	-5.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.23%	22.08%	-6.85%

PVAL vs. ZIG - Expense Ratio Comparison

PVAL has a 0.55% expense ratio, which is lower than ZIG's 1.85% expense ratio.

Dividends

PVAL vs. ZIG - Dividend Comparison

PVAL's dividend yield for the trailing twelve months is around 0.97%, less than ZIG's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
PVAL Putnam Focused Large Cap Value ETF	0.97%	1.00%	1.34%	1.33%	0.59%	0.47%	0.00%
ZIG Acquirers Fund	1.79%	1.91%	1.96%	1.07%	1.26%	0.18%	0.18%

Frequently Asked Questions

Can I hold both PVAL and ZIG in my portfolio?

PVAL and ZIG have a correlation of 0.65, 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 ZIG?

PVAL has higher volatility (3.55%) compared to ZIG (3.49%). In terms of maximum drawdown, PVAL dropped -16.64% vs ZIG's -37.14%.

Which ETF is better, PVAL or ZIG?

On 5-year performance, PVAL leads with 16.54% vs 9.54% for ZIG. On fees, PVAL is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVAL or ZIG?

Over the 5-year period, PVAL has performed better with a 16.54% return vs 9.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVAL or ZIG?

PVAL is cheaper with a 0.55% expense ratio, compared with 1.85% for ZIG.

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

ZIG has the higher dividend yield at 1.79%, compared with 0.97% for PVAL.

What is the main difference between PVAL and ZIG?

PVAL is categorized as Large Cap Value Equities, while ZIG is Large Cap Blend Equities. They also come from different issuers: Putnam and Acquirers Funds. Their fees differ too: 0.55% for PVAL and 1.85% for ZIG.

Which has better risk-adjusted returns?

PVAL currently has the higher Sharpe Ratio (2.85 vs 0.73), 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.