Active ETF
Putnam Focused Large Cap Value ETF (Class A)
(PVAL)
A multidimensional approach that seeks relative value opportunities across U.S. equities
Investment strategy also available as:
Putnam Focused Large Cap Value ETF (PVAL)
This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:
- You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
- The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared with other ETFs because it provides less information to traders.
- These additional risks may be even greater in bad or uncertain market conditions.
- The ETF will publish on its website each day a Tracking Basket designed to help trading in shares of the ETF. While the Tracking Basket includes some of the ETF's holdings, it is not the ETF's actual portfolio.
The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF's performance. If other traders are able to copy or predict the ETF's investment strategy, however, this may hurt the ETF's performance.
For additional information regarding the unique attributes and risks of the ETF, see disclosure below and the Principal Investment Risks section of the prospectus.
Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
The funds have limited public-trading history and will operate differently from other actively managed ETFs that publish their portfolio holdings on a daily basis.
NAV as of 11/29/23
$29.97
Market data all data below as of 11/29/23
|
Closing market price
|
$29.99 |
|
30-day median bid-ask spread
|
0.30% |
|
Day high
|
$30.21 |
|
Day low
|
$29.98 |
|
Premium/Discount
|
0.07% |
|
30-day average trading volume
|
40,502 |
| Net assets and outstanding shares |
Download CSV |
How to buy Putnam ETFs
Putnam ETFs can be purchased and sold the same way you would buy or sell a stock — through most self-directed brokers or with the guidance of your advisor. Opening an online, self-directed brokerage account provides investors with:
- Accessibility to a variety of investment products
- Tools to help you build and optimize your portfolio
- Flexibility and freedom of managing your investment portfolio
Learn about Putnam active ETFs
ETF facts as of 10/31/23
Ticker
PVAL
Intraday NAV Ticker
PVALIV
CUSIP
746729300
Inception date
05/25/21
Total net assets
$204.62M
Total expense ratio
0.55%
Open to new investors
Category
Value
Turnover (fiscal year-end)
37%
Number of holdings
45
Fiscal year-end
August
Objective
Putnam Focused Large Cap Value ETF seeks capital growth and current income.
Strategy and process
- Disciplined processThe team combines fundamental research and quantitative tools to pursue multiple alpha sources, with a strong overlay of risk control.
- Dividend growthThe fund focuses on companies with strong cash flows and the ability to generate and grow dividends for investors.
- Seeks value dailyUnlike the benchmark, which defines the value universe once per year, management takes an active approach to defining value daily.
Literature
Related/Investment insights
A rising number of S&P 500 companies are now tying ESG metrics to executive pay. Explore insights on how this impacts corporate goals and investment opportunities.
Putnam Investments is pleased to share our 2023 Sustainability and Impact Report.
Compare
See how this fund stacks up against its peers with FundVisualizer®
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** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
| American International Group |
3.93% |
| Exxon Mobil Corp |
3.71% |
| Oracle Corp |
3.62% |
| ConocoPhillips |
3.47% |
| United Rentals |
3.16% |
| Bank Of America Corp |
3.07% |
| Regeneron Pharmaceuticals |
3.03% |
| Cigna Group/The |
3.01% |
| Apollo Asset Management |
2.86% |
| Gaming And Leisure Properties |
2.74% |
| Top 10 holdings, percent of portfolio |
32.60% |
Tracking Basket information as of 11/29/23
The Tracking Basket methodology maintains confidentiality of a portfolio's securities and trading strategies by disclosing a "tracking basket" composed of select recently disclosed portfolio holdings, liquid U.S. ETFs that convey information about the types of instruments in which the fund invests, and cash and cash equivalents. This Tracking Basket is disclosed daily and is used to facilitate the creation and redemption process with Authorized Participants (APs). Actual portfolio holdings for the Putnam ETFs will be disclosed on Putnam.com within eight business days following calendar quarter-end.
Sector weightings
as of 10/31/23
| Financials |
16.13% |
| Health care |
12.89% |
| Industrials |
11.72% |
| Information technology |
9.75% |
| Energy |
8.90% |
| Consumer staples |
8.84% |
| Consumer discretionary |
8.09% |
| Materials |
6.01% |
| Utilities |
5.95% |
Other |
11.73% |
| Cash and net other assets |
4.27% |
| Communication services |
4.03% |
| Real estate |
3.43% |
0
Sectors will vary over time.
Equity statistics as of 10/31/23
| Median market cap |
$61.43B |
| Weighted average market cap |
$185.26B |
| Price to book |
2.31 |
| Price to earnings |
12.24 |
The Russell 1000® Value Index is an unmanaged index of those companies in the large-cap Russell 1000® Index chosen for their value orientation. You cannot invest directly in an index.
Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.
Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Investing in an ETF is as easy as investing in a stock
Putnam ETFs, which trade on the New York Stock Exchange, can be purchased and sold the way you would buy or sell a stock — through a broker or with the help and guidance of your advisor. Brokerage commissions and transactions costs may vary, so be sure to check on these costs with your broker, advisor, or other financial intermediary.
By clicking on your broker below, you will leave the Putnam website.
The hyperlinks on this website are provided as a convenience, and Putnam is not responsible for the third-party information, services, or products offered through these platforms. Putnam does not endorse or recommend any broker, advisor, or other financial intermediary. For information on payments made to third-party intermediaries in connection to Putnam's ETFs, please review the fund's SAI or contact the intermediary directly to discuss as this may create a conflict of interest influencing such intermediaries to recommend a Putnam ETF over another investment.
Investing in an ETF is as easy as investing in a stock.
Putnam ETFs are available for purchase and sale through most self-directed brokers or with the help of your financial advisor. Opening an online self-directed brokerage account provides investors with:
- Accessibility to a variety of investment products
- Tools to help you build and optimize your portfolio
- Flexibility and freedom of managing your investment portfolio
