A multidimensional approach with a focus on redefining value daily

“We believe in looking forward every day to bring true value to investors by uncovering assets that benchmarks might miss.”

—  
Darren Jaroch, CFA, and Lauren DeMore, CFA
Portfolio Managers
Big ideas that set us apart

Putnam Focused Large Cap Value ETF

Company fundamentals can change over the course of 12 months. Unlike the Russell 1000 Value Index which is reconstituted annually, our team analyzes and redefines the value universe every day. That’s why our portfolio managers can uncover attractive stocks and opportunities that may not be part of the benchmark yet.

The right team

Darren Jaroch, CFA, and Lauren DeMore, CFA, bring a combined 44 years of industry experience and broad investing experience across the global market. They combine their analyses with ideas from analysts in Putnam's Equity Research organization and information from quantitative screening and risk-management tools.

Darren Jaroch, CFA
25 years in the investment industry
Lauren DeMore, CFA
19 years in the investment industry

Where do we look to enhance capital appreciation potential?

Value stocks.

Companies with solid financials

Cash flow generators.

Companies with strong cash flows, earnings quality, and capital allocation strategies

Dividend growers.

Companies willing and able to increase dividends

More about PVAL

Below you'll find our thought leadership and careful analysis of trends within value investing and culture.

Unpacking PVAL

Dig deep to see some big ideas we fit into PVAL

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Disclosure:

This ETF is different from a traditional ETF. 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 the 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.

Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.

Find PVAL through your own brokerage

Fund ticker: PVAL
Category: Value
Exchange: NYSE

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See complete details

Disclosure:

This ETF is different from a traditional ETF. 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 the 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.

Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.