PVAL vs WTV

PVALBPutnam Focused Large Cap Value ETF

WTVAWisdomTree U.S. Value Fund

In short

PVAL One of the rare active ETFs that keeps most of its book private: about 40 large-cap value stocks, a daily tracking basket instead of daily holdings, and 0.55% net of a waiver through December 31, 2026.

WTV Most value funds shop for low price tags. WTV shops for cash coming back to shareholders: dividends plus net buybacks, filtered for quality and profitability. Actively run, priced like an index fund at 0.12%.

Stated mandate

PVAL The fund seeks capital growth and current income.

WTV The fund seeks income and capital appreciation through primarily U.S. equities selected for high total shareholder yield and favorable relative quality characteristics.

Why people hold it

• PVAL Concentrated by design: about 40 names, with at least 80% of net assets in large caps the size of Russell 1000 Value members.sec.gov
• Semi-transparent wrapper: a tracking basket posts daily, the actual portfolio within eight business days after quarter-end, so the manager isn't telegraphing trades.franklintempleton.comsec.gov
• Active stock picking at 0.55% (0.56% gross), net of a waiver through December 31, 2026, which lands near the category median fee.
• The mandate pairs capital growth with current income, and this multi-billion-dollar fund pays quarterly.

• WTV Charges 0.12% a year, under a quarter of the 0.55% typical for active US value funds, and less than every same-benchmark rival in its group (JAVA 0.44%, CGVV 0.33%, TEQI 0.54%).
• "Value" here means cash returned: dividend yield plus net buyback yield, with quality and profitability screens, rather than a plain low price-to-book sort.wisdomtree.com
• About 160 US stocks, a multi-billion-dollar asset base, and a live track record dating to 2007. Distributions land quarterly.

Worth knowing

• PVAL You swap daily transparency for discretion: the tracking basket is not the real portfolio, and the prospectus flags wider spreads and larger premiums or discounts.sec.gov
• Rules-based rivals run much cheaper: WTV at 0.12%, AVLV at 0.15%, DFLV at 0.21%, none leaning on a fee waiver.
• About 40 holdings means one stock's move counts for more here than in a sprawling value index fund.

• WTV Full equity with no downside cushion, and a value tilt that can lean into a handful of sectors. Risk is the least polished part of the profile.
• Rules-based active, not an index tracker, so results can diverge from the Russell 1000 Value in either direction.
• Buybacks supply much of the shareholder yield, and companies can scale repurchases back more easily than they cut dividends.wisdomtree.com

Full PVAL profile⁠

Full WTV profile⁠