iShares MSCI ACWI ETF (ACWI) Valuation
ACWI valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.3 trailing earnings
- Forward P/E
- 19.8 analyst estimates
- Price / sales
- 3.59
- Price / book
- 5.44
- EV / EBITDA
- 17.1
- Earnings yield
- 3.81% inverse of P/E
- Dividend yield
- 1.09% of the holdings
- Return on equity
- 20.7% combined
- Net margin
- 13.7% combined
- Beta
- 1.15 weighted, vs S&P 500
ACWI valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ACWI | 26.3 | 19.8 | 3.59 | 5.44 | 1.09% | 20.7% | 13.7% | 2.4% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
ACWI valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 31.4% | 33.9 | 23.4 | 9.12 | 12.36 | 0.55% | 36.5% |
| Industrials | 9.7% | 29.8 | 23.1 | 3.16 | 6.84 | 1.12% | 23.0% |
| Healthcare | 9.0% | 37.5 | 17.8 | 1.80 | 5.38 | 1.47% | 14.3% |
| Consumer Cyclical | 8.5% | 27.7 | 23.1 | 2.48 | 6.38 | 0.71% | 23.0% |
| Communication Services | 7.5% | 18.4 | 18.9 | 4.79 | 4.99 | 0.71% | 27.2% |
| Consumer Defensive | 4.9% | 28.9 | 21.5 | 1.69 | 6.95 | 2.32% | 24.1% |
| Energy | 4.3% | 19.8 | 12.9 | 1.86 | 2.61 | 2.28% | 13.2% |
| Utilities | 2.3% | 19.4 | 15.6 | 2.82 | 2.07 | 3.02% | 10.7% |
| Real Estate | 1.4% | 31.0 | 31.0 | 6.60 | 3.24 | 3.52% | 10.4% |
ACWI earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How ACWI weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ACWI largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 4.91% | 27.1 | 24.9 | 17.1 | 0.47% | 7.32% |
| AAPL | Apple Inc. | 4.79% | 39.4 | 35.2 | 10.7 | 0.31% | 4.91% |
| MSFT | Microsoft Corporation | 3.45% | 29.5 | 25.1 | 11.8 | 0.74% | 4.72% |
| AMZN | Amazon.com, Inc. | 2.45% | 20.1 | 23.6 | 3.5 | — | 4.93% |
| GOOGL | Alphabet Inc. | 1.93% | 17.1 | 22.8 | 9.3 | 0.26% | 4.57% |
| 2330 | Taiwan Semiconductor Manufacturing Co. Ltd. | 1.71% | — | — | — | — | — |
| GOOG | Alphabet Inc. | 1.46% | 16.9 | 21.8 | 9.2 | 0.26% | 3.49% |
| AVGO | Broadcom Inc. | 1.37% | 43.3 | 19.4 | 17.6 | 0.79% | 1.28% |
| META | Meta Platforms, Inc. | 1.37% | 26.7 | 22.1 | 7.9 | 0.30% | 2.07% |
| TSLA | Tesla, Inc. | 1.09% | 328.4 | 158.7 | 13.5 | — | 0.13% |
| LLY | Eli Lilly and Company | 1.07% | 42.2 | 24.4 | 14.1 | 0.55% | 1.02% |
| MU | Micron Technology, Inc. | 0.93% | 11.8 | 7.0 | 7.5 | 0.07% | 3.19% |
| JPM | JPMorgan Chase & Co. | 0.91% | 14.2 | 13.5 | 4.7 | 1.94% | 2.59% |
| AMD | Advanced Micro Devices, Inc. | 0.85% | 134.9 | 39.5 | 20.9 | — | 0.25% |
| 005930 | Samsung Electronics Co Ltd | 0.77% | — | — | — | — | — |
| BRK.B | Berkshire Hathaway Inc. | 0.77% | 13.4 | 22.7 | 3.0 | — | 2.32% |
| XOM | Exxon Mobil Corporation | 0.72% | 23.0 | 14.8 | 2.0 | 2.30% | 1.26% |
| V | Visa Inc. | 0.68% | 34.3 | 24.0 | 17.0 | 0.67% | 0.80% |
| JNJ | Johnson & Johnson | 0.61% | 38.8 | 21.0 | 6.2 | 2.10% | 0.63% |
| ASML | ASML Holding N.V. | 0.58% | — | — | — | — | — |
| WMT | Walmart Inc. | 0.54% | 43.0 | 38.0 | 1.3 | 0.83% | 0.50% |
| ABBV | AbbVie Inc. | 0.49% | 80.6 | 16.4 | 7.8 | 2.42% | 0.24% |
| MA | Mastercard Incorporated | 0.49% | 34.0 | 24.2 | 15.4 | 0.56% | 0.58% |
| 000660 | SK Hynix Inc | 0.48% | — | — | — | — | — |
| COST | Costco Wholesale Corporation | 0.45% | 47.6 | 40.3 | 1.4 | 0.59% | 0.38% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About ACWI valuation
Adding up its 539 holdings with company data, ACWI trades at 26.3 times trailing earnings and 19.8 times analysts' forward estimates, with a price-to-book ratio of 5.44 and a dividend yield of 1.09%. Its earnings yield of 3.81% is 1.52 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 24.5% of the fund and earn 34.5% of its combined profit. By sector, Healthcare is the most expensive at 37.5 times earnings and Communication Services the cheapest at 18.4. Companies that lost money over the past year are 2.4% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 65.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: ACWI chart, ACWI performance, ACWI holdings, ACWI dividends.
ACWI valuation FAQ
What is the P/E ratio of ACWI?
Based on its holdings, ACWI has a trailing P/E of 26.3 and a forward P/E of 19.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ACWI?
The trailing earnings yield is 3.81% (1 ÷ P/E) and the forward earnings yield 5.04%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ACWI more expensive than the S&P 500?
ACWI trades at 26.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.8 and 19.9.
What is the price-to-book ratio of ACWI?
The holdings of ACWI trade at 5.44 times book value, with a combined return on equity of 20.7%.
Which sector in ACWI has the highest P/E?
Healthcare has the highest P/E at 37.5 and Communication Services the lowest at 18.4.