Putnam Focused Large Cap Value ETF (PVAL) Performance
PVAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +19.2% since Dec 31, 2025
- 1 year
- +26.7% total return
- 5 years
- +15.8% a year
- Since first price
- +16.3% a year since 2021
PVAL trailing returns vs SPY, QQQ, AGG
| Period | PVAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.7% | +1.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.8% | +3.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +10.9% | +10.4% | +7.8% | +8.4% | −1.5% |
| YTD | +19.2% | +18.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +26.7% | +25.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +99.0%+25.8%/yr | +91.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +107.9%+15.8%/yr | +96.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 26, 2021 | +126.8%+16.3%/yr | +114.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PVAL vs SPY
From May 26, 2021: PVAL grew to $22,677, SPY to $19,515.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PVAL returns by calendar year
3 of 4 full years positive. Best 2025 (+24.1%), worst 2022 (−2.6%). 2026 is year to date.
PVAL annual returns table
| Year | PVAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +19.2% | −7.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +24.1% | −14.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.3% | −7.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.4% | −8.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −2.6% | −16.6% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PVAL largest drawdowns
Now 1.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 30, 2022 | −16.6% | Sep 30, 2022 | Feb 1, 2023 | 6 months | 10 months |
| Nov 29, 2024 | −15.4% | Apr 8, 2025 | Jun 24, 2025 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PVAL risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +23.2% | +16.8% | +15.9% |
| Volatility (annualized) | 11.7% | 15.0% | 14.7% |
| Sharpe ratio | 1.49 | 0.88 | 0.85 |
| Sortino ratio | 2.70 | 1.47 | 1.42 |
| Best month | +6.9% | +11.5% | +11.5% |
| Worst month | −6.8% | −9.5% | −9.5% |
| Best 12 months | +35.8% | +35.8% | +35.8% |
| Worst 12 months | +7.1% | −6.1% | −6.1% |
| Positive months | 78% | 67% | 66% |
| Beta vs S&P 500 | 0.74 | 0.84 | — |
| Correlation with S&P 500 | 0.79 | 0.88 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PVAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 54 | −6.1% | +17.5% | +35.8% | 89% |
| 3-year (a year) | 30 | +11.2% | +18.3% | +25.6% | 100% |
| 5-year (a year) | 6 | +15.8% | +16.5% | +17.2% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
PVAL performance overview
Putnam Focused Large Cap Value ETF (PVAL) returned +26.7% over the past year and +15.8% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +16.3% a year, turning $10,000 into about $22,677. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −16.6%, from Mar 30, 2022 to Sep 30, 2022, and it took 4 months to get back to the old high. PVAL finished 3 of its 4 full calendar years with a gain; the best year was 2025 (+24.1%) and the worst 2022 (−2.6%). Volatility has been 14.7% a year.
Related: PVAL chart, PVAL holdings, PVAL dividends, PVAL valuation. See the PVAL overview for the latest quote and fund facts.
PVAL performance FAQ
What is the PVAL return over the past year?
PVAL returned +26.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 25.5%.
What is the average annual return of PVAL?
PVAL has returned +15.8% a year over 5 years, +16.3% a year since May 26, 2021 (total return, distributions reinvested).
How much would $10,000 invested in PVAL be worth?
$10,000 invested in PVAL at its first recorded close on May 26, 2021 would be worth about $22,677 on October 23, 2026 with distributions reinvested.
What was the worst year for PVAL?
The worst calendar year was 2022, with a total return of −2.6%. The best was 2025 at +24.1%.
What is the biggest drawdown of PVAL?
The largest peak-to-trough decline was −16.6% between March 30, 2022 and September 30, 2022. It recovered to the old high on February 1, 2023, 4 months after the bottom.
How volatile is PVAL?
Over the past 3 years PVAL had an annualized volatility of 11.7% and a Sharpe ratio of 1.49 (excess return over 1–3 month T-bills per unit of risk).