What Is PVAL? Putnam Focused Large Cap Value ETF
Last updated July 2026
Short answer
PVAL is Putnam Focused Large Cap Value ETF, an ETF that tracks a US large-cap value index at a 0.55% expense ratio. PVAL tracks a US large-cap value index. It is relatively new, launched in 2021. The ten largest positions are roughly 35% of assets, with CSCO the biggest at 6.0%. At 0.55% it costs more than the typical large value fund, nearer 0.27%. The distribution yield is about 0.97%.
PVAL is issued by Franklin Templeton Investments and tracks a US large-cap value index. It charges a 0.55% expense ratio, holds approximately $11.9B in assets under management, yields about 0.97%, and launched in 2021.
What is PVAL?
PVAL is Putnam Focused Large Cap Value ETF, an ETF that tracks a US large-cap value index at a 0.55% expense ratio. PVAL tracks a US large-cap value index. It is relatively new, launched in 2021. The ten largest positions are roughly 35% of assets, with CSCO the biggest at 6.0%. At 0.55% it costs more than the typical large value fund, nearer 0.27%. The distribution yield is about 0.97%.
PVAL is issued by Franklin Templeton Investments and tracks a US large-cap value index, so a single ticker gives you the whole portfolio of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
What does PVAL hold?
PVAL is weighted toward its largest constituents. As of August 2026, the top holdings are:
| Rank | Ticker | Company | % of PVAL | |
|---|---|---|---|---|
| 1 | CSCO | Cisco Systems Inc | 6.0% | |
| 2 | C | Citigroup Inc | 4.6% | |
| 3 | XOM | Exxon Mobil Corp | 3.6% | |
| 4 | GOOGL | Alphabet Inc Class A | 3.3% | |
| 5 | AMD | Advanced Micro Devices Inc | 3.1% | |
| 6 | STX | Seagate Technology Holdings PLC | 3.0% | |
| 7 | AMZN | Amazon.com Inc | 2.9% | |
| 8 | MSFT | Microsoft Corp | 2.9% | |
| 9 | FCX | Freeport-McMoRan Inc | 2.9% | |
| 10 | HLT | Hilton Worldwide Holdings Inc | 2.8% |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
How do I invest in PVAL?
There are three common ways to get PVAL exposure. Buy shares (or fractional shares) of PVAL directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so PVAL sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. PVAL trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is PVAL a good buy?
Whether PVAL is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks a US large-cap value index, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is PVAL a buy?
The bottom line on PVAL
PVAL gives you a US large-cap value index exposure in one ticker at a 0.55% expense ratio. Most investors use it as a core holding and layer more concentrated thematic portfolios on top.
More on PVAL
Whether PVAL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is PVAL a buy?
PVAL yields 0.97% as of August 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see PVAL dividend: yield and schedule.
New to funds like PVAL? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how PVAL fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in PVAL with AI
Connect the broker you already use and ask Walnut's AI how PVAL fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is PVAL's ticker symbol?
+
PVAL, Putnam Focused Large Cap Value ETF. Issued by Franklin Templeton Investments; tracks a US large-cap value index. Trades during US market hours, available at every major US brokerage.
What is PVAL's expense ratio?
+
0.55% as of August 2026.
What are PVAL's top holdings?
+
Top holdings as of August 2026: CSCO, C, XOM, GOOGL, AMD and others. See the full holdings table above.
How can I invest in PVAL through Walnut?
+
Walnut isn't a broker. Connect a brokerage and Walnut sits on top to help you build and track thematic portfolios. PVAL can be a constituent alongside individual stocks.
How do I compare PVAL to similar ETFs?
+
Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. PVAL's figures are above; the full method is in Walnut's guide on how to compare ETFs.
Related ETFs
Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to August 2026; verify current figures against Franklin Templeton Investments's fund page or your broker before investing.