The Alger ETF (ALAI) Valuation

NYSE Arca: ALAIP/E, earnings yield and other ratios of the holdings combined.

ALAI valuation today

Holdings combined · company data as of Oct 26, 2026
P/E (TTM)
40.2
trailing earnings
Forward P/E
24.8
analyst estimates
Price / sales
3.50
Price / book
10.01
EV / EBITDA
23.1
Earnings yield
2.49%
inverse of P/E
Dividend yield
0.34%
of the holdings
Return on equity
24.9%
combined
Net margin
8.7%
combined
Beta
1.63
weighted, vs S&P 500

ALAI valuation vs other stock ETFs

P/E (TTM)Forward P/E
ALAI valuation compared with other stock ETFs
ETFP/EFwd P/EP/SP/BDiv. yieldROENet marginLoss-makers
ALAI40.224.83.5010.010.34%24.9%8.7%13.5%
SPY25.919.93.675.471.08%21.1%14.2%1.9%
QQQ34.223.45.939.270.58%27.1%17.4%6.9%
DIA20.918.43.165.521.55%26.4%15.1%0.0%
VTI28.219.43.315.001.07%17.7%11.8%4.6%
IWMn/m13.91.252.031.38%−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.

ALAI valuation by sector

P/E (TTM)Forward P/E
ALAI valuation by sector
SectorWeightP/EFwd P/EP/SP/BDiv. yieldROE
Technology56.1%38.124.23.0412.910.45%33.9%
Communication Services13.0%21.921.68.617.460.23%34.1%
Consumer Cyclical10.2%30.730.73.056.150.02%20.0%
Industrials5.7%91.561.710.0615.030.15%16.4%
Healthcare4.4%57.136.13.527.350.38%12.9%
Utilities3.3%n/m11.52.968.140.00%−5.6%
Financial Services2.8%n/m34.48.976.410.11%−19.9%
Basic Materials0.4%34.318.13.865.180.86%15.1%

ALAI earnings yield vs bond yields

ALAI earnings yield (forward)
4.03%
ALAI earnings yield (trailing)
2.49%
ALAI dividend yield
0.34%
Bond market yield (AGG)
5.33%
T-bill yield (BIL)
3.91%

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 ALAI weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

ALAI largest holdings: valuation

ALAI largest holdings valuation
SymbolCompanyWeightP/EFwd P/EP/SDiv. yieldShare of earnings
NVDANVIDIA Corporation12.36%27.124.917.10.47%20.10%
MSFTMicrosoft Corporation9.25%29.525.111.80.74%13.82%
TSMTaiwan Semiconductor Manufacturing Company Limited6.13%26.721.40.40.91%10.09%
AMZNAmazon.com, Inc.5.29%20.123.63.5—11.59%
GOOGAlphabet Inc.4.63%16.921.89.20.26%12.07%
AVGOBroadcom Inc.3.77%43.319.417.60.79%3.84%
METAMeta Platforms, Inc.3.55%26.722.17.90.30%5.85%
YNDXYandex NV3.32%—————
STXSeagate Technology Holdings plc3.27%46.025.711.90.46%3.13%
TSLATesla, Inc.2.59%328.4158.713.5—0.35%
MUMicron Technology, Inc.2.39%11.87.07.50.07%8.92%
SPCXSpace Exploration Technologies Corp.2.38%—200.083.5—−0.46%
TLNTalen Energy Corporation2.24%—9.94.5—−1.15%
SNOWSnowflake Inc.2.21%—169.519.9—−1.01%
AMDAdvanced Micro Devices, Inc.1.99%134.939.520.9—0.65%
LITELumentum Holdings Inc.1.74%—42.924.8—−8.64%
WDCWestern Digital Corporation1.71%12.322.89.60.18%6.12%
AAPLApple Inc.1.63%39.435.210.70.31%1.83%
TWLOTwilio Inc1.33%33.843.76.7—1.74%
ILMNIllumina, Inc.1.24%49.040.38.8—1.12%
GFLGfl Environmental Holdings Inc1.17%—————
HOODRobinhood Markets, Inc.1.16%43.645.018.0—1.17%
GEVGE Vernova Inc.1.15%26.438.85.90.22%1.91%
NTRANatera, Inc.0.99%——20.9—−0.15%
FIGRFigure Technology Solutions, Inc.0.95%31.5—9.8—1.33%

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 ALAI valuation

Adding up its 64 holdings with company data, ALAI trades at 40.2 times trailing earnings and 24.8 times analysts' forward estimates, with a price-to-book ratio of 10.01 and a dividend yield of 0.34%. Its earnings yield of 2.49% is 2.84 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 54.2% of the fund and earn 89.7% of its combined profit. By sector, Industrials is the most expensive at 91.5 times earnings and Communication Services the cheapest at 21.9. Companies that lost money over the past year are 13.5% 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 95.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

Related: ALAI chart, ALAI performance, ALAI holdings, ALAI dividends.

ALAI valuation FAQ

What is the P/E ratio of ALAI?

Based on its holdings, ALAI has a trailing P/E of 40.2 and a forward P/E of 24.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of ALAI?

The trailing earnings yield is 2.49% (1 ÷ P/E) and the forward earnings yield 4.03%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is ALAI more expensive than the S&P 500?

ALAI trades at 40.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 24.8 and 19.9.

What is the price-to-book ratio of ALAI?

The holdings of ALAI trade at 10.01 times book value, with a combined return on equity of 24.9%.

Which sector in ALAI has the highest P/E?

Industrials has the highest P/E at 91.5 and Communication Services the lowest at 21.9.