The Frontier Economic Fund (AKAF) Valuation
AKAF valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.0 trailing earnings
- Forward P/E
- 14.5 analyst estimates
- Price / sales
- 1.07
- Price / book
- 3.50
- EV / EBITDA
- 10.9
- Earnings yield
- 4.34% inverse of P/E
- Dividend yield
- 1.48% of the holdings
- Return on equity
- 15.2% combined
- Net margin
- 4.6% combined
- Beta
- 1.02 weighted, vs S&P 500
AKAF valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| AKAF | 23.0 | 14.5 | 1.07 | 3.50 | 1.48% | 15.2% | 4.6% | 3.9% |
| 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.
AKAF valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 32.9% | 34.3 | 14.5 | 0.80 | 3.37 | 1.20% | 9.8% |
| Consumer Cyclical | 17.4% | 21.5 | 14.5 | 1.42 | 4.94 | 1.49% | 23.0% |
| Energy | 16.5% | 16.1 | 13.6 | 1.48 | 2.45 | 1.89% | 15.2% |
| Technology | 7.0% | 21.6 | 18.8 | 3.28 | 6.49 | 0.94% | 30.1% |
| Consumer Defensive | 5.7% | 25.1 | 16.5 | 0.57 | 6.36 | 2.44% | 25.4% |
| Healthcare | 3.2% | 18.8 | 13.3 | 0.46 | 3.05 | 1.12% | 16.2% |
| Communication Services | 2.8% | 92.4 | 12.3 | 2.18 | 2.08 | 2.06% | 2.3% |
| Financial Services | 2.7% | 13.3 | 11.3 | 2.83 | 2.14 | 2.49% | 16.1% |
AKAF 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 AKAF weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
AKAF largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| COP | ConocoPhillips | 2.53% | 19.4 | 12.7 | 2.7 | 2.29% | 3.83% |
| XOM | Exxon Mobil Corporation | 2.37% | 23.0 | 14.8 | 2.0 | 2.30% | 3.01% |
| UBER | Uber Technologies, Inc. | 1.92% | 15.4 | 15.9 | 2.6 | — | 3.65% |
| DASH | DoorDash, Inc. | 1.79% | 99.6 | 38.0 | 5.2 | — | 0.53% |
| STO | Santos Ltd | 1.69% | — | — | — | — | — |
| 9101 | Nippon Yusen K.K | 1.66% | — | — | — | — | — |
| APA | APA Corporation | 1.65% | 10.4 | 9.4 | 2.0 | 2.03% | 4.66% |
| CCL | Carnival Corporation & plc | 1.55% | 11.4 | 8.4 | 1.3 | 1.74% | 3.98% |
| UPS | United Parcel Service, Inc. | 1.52% | 18.1 | 12.0 | 0.9 | 6.73% | 2.46% |
| RCL | Royal Caribbean Cruises Ltd. | 1.52% | 17.1 | 11.4 | 4.0 | 2.16% | 2.60% |
| DAL | Delta Air Lines, Inc. | 1.51% | 15.0 | 9.2 | 0.7 | 1.14% | 2.95% |
| REP | Repsol S.A. | 1.50% | — | — | — | — | — |
| NST | Northern Star Resources Ltd | 1.48% | — | — | — | — | — |
| HAL | Halliburton Company | 1.45% | 17.6 | 11.4 | 1.2 | 2.03% | 2.42% |
| DSV | DSV A/S | 1.45% | — | — | — | — | — |
| FDX | FedEx Corporation | 1.44% | 15.8 | 14.2 | 0.7 | 1.66% | 2.66% |
| XPO | XPO Logistics, Inc. | 1.42% | 54.9 | 27.0 | 2.5 | — | 0.76% |
| SLB | Schlumberger Limited | 1.40% | 23.9 | 15.9 | 2.0 | 2.38% | 1.72% |
| UAL | United Airlines Holdings, Inc. | 1.39% | 9.0 | 7.4 | 0.5 | — | 4.51% |
| 9107 | Kawasaki Kisen Kaisha Ltd. | 1.38% | — | — | — | — | — |
| BKR | Baker Hughes Company | 1.25% | 17.9 | 18.0 | 2.0 | 1.65% | 2.05% |
| TECK-B | Teck Resources Limited | 1.25% | — | — | — | — | — |
| FDXF | FedEx Freight Holding Company, Inc. | 1.25% | 25.8 | 22.2 | 1.9 | — | 1.42% |
| S32 | South32 Ltd | 1.22% | — | — | — | — | — |
| CDE | Coeur Mining, Inc. | 1.03% | 13.2 | 8.7 | 5.0 | 0.26% | 2.28% |
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 AKAF valuation
Adding up its 113 holdings with company data, AKAF trades at 23.0 times trailing earnings and 14.5 times analysts' forward estimates, with a price-to-book ratio of 3.50 and a dividend yield of 1.48%. Its earnings yield of 4.34% is 0.99 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 18.2% of the fund and earn 30.1% of its combined profit. By sector, Communication Services is the most expensive at 92.4 times earnings and Financial Services the cheapest at 13.3. Companies that lost money over the past year are 3.9% 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 78.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: AKAF chart, AKAF performance, AKAF holdings, AKAF dividends.
AKAF valuation FAQ
What is the P/E ratio of AKAF?
Based on its holdings, AKAF has a trailing P/E of 23.0 and a forward P/E of 14.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of AKAF?
The trailing earnings yield is 4.34% (1 ÷ P/E) and the forward earnings yield 6.92%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is AKAF more expensive than the S&P 500?
AKAF trades at 23.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.5 and 19.9.
What is the price-to-book ratio of AKAF?
The holdings of AKAF trade at 3.50 times book value, with a combined return on equity of 15.2%.
Which sector in AKAF has the highest P/E?
Communication Services has the highest P/E at 92.4 and Financial Services the lowest at 13.3.