These are some of the top performing ASX 200 value shares of the past year

What value is in a value share?

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Key points

  • ASX value shares have generated a lot of interest recently
  • Value shares are selected on a fundamental basis
  • But which ASX 200 value shares have been the best recent performers?

If 2020 and 2021 were the year of ASX growth shares, then 2022 could well be the year of value shares. That’s certainly shaping up as a viable scenario, judging by the kinds of shares investors have propelled higher and lower over the year so far.

We all know that ASX growth shares like Block Inc CDI (ASX: SQ2), Zip Co Ltd (ASX: Z1P) and Xero Limited (ASX: XRO) have had a rough couple of months. But which ASX value shares have been performing well over the past year or so?

Let’s look at some contenders.

So, perhaps surprisingly for some investors, ASX bank shares have been some of the best value shares over the past year. In particular, National Australia Bank Ltd. (ASX: NAB) and Commonwealth Bank of Australia (ASX: CBA). On today’s pricing, CBA remains up by more than 15.5% over the past 12 months. NAB has fared even better, up around 19.2%. With the latest round of earnings reports out of the way for these banks, investors have voted with their feet and rewarded these two companies for their recent performances.

But it doesn’t end there.

Some of the best performing ASX value shares revealed

Telstra Corporation Ltd (ASX: TLS) is another value share that has continued to reward investors. This ASX 200 telco has bested both NAB and CBA’s performance since February 2021, and has given back a return of 23%. Throw in the dividends, and Telstra has arguably been a pretty fantastic value share to own.

To a lesser extent, so has Woodside Petroleum Limited (ASX: WPL). Woodside shares have appreciated a very pleasing 29.5% or so just over the past six months. However, its 12-month performance isn’t quite as impressive at a solid 8.6%.

But not all value shares have rewarded shareholders. The Transurban Group (ASX: TCL) share price has virtually gone nowhere over the past year. And Woolworths Group Ltd (ASX: WOW) shares have lost around 3% over that same period.

Miners BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) have also been fairly lacklustre compared to some of the companies above. BHP shares are up around 5.9% over the past 12 months, while Rio has managed 1.55%.

All of the shares discussed today are major constituents of the S&P/ASX 200 Value Index. This index fishes value shares out of the entire ASX 200 Index. This is done using three factors: book value compared with share price, price-to-earnings (P/E) ratio and price-to-sales (P/S) ratio. If value shares continue to generate interest from ASX investors in 2022, expect to hear a lot more about those metrics going forward!

Motley Fool contributor Sebastian Bowen owns National Australia Bank Limited and Telstra Corporation Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc., Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Telstra Corporation Limited and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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