Global X Clean Water ETF (AQWA) Valuation
AQWA valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.8 trailing earnings
- Forward P/E
- 17.7 analyst estimates
- Price / sales
- 2.39
- Price / book
- 2.95
- EV / EBITDA
- 13.7
- Earnings yield
- 4.39% inverse of P/E
- Dividend yield
- 1.79% of the holdings
- Return on equity
- 12.9% combined
- Net margin
- 10.5% combined
- Beta
- 0.89 weighted, vs S&P 500
AQWA valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| AQWA | 22.8 | 17.7 | 2.39 | 2.95 | 1.79% | 12.9% | 10.5% | 0.5% |
| 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.
AQWA valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 49.4% | 21.9 | 17.2 | 2.08 | 3.76 | 1.27% | 17.2% |
| Consumer Defensive | 2.8% | 65.7 | 13.3 | 1.06 | 2.40 | 2.43% | 3.6% |
| Technology | 2.4% | 29.6 | 26.2 | 4.16 | 5.61 | 1.39% | 19.0% |
AQWA 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 AQWA weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
AQWA largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AWK | American Water Works Company, Inc. | 8.70% | 23.4 | 20.0 | 5.1 | 2.65% | 12.09% |
| UU | United Utilities Group PLC | 7.84% | — | — | — | — | — |
| FERG | Ferguson plc | 7.53% | 22.8 | 17.6 | 1.4 | 1.54% | 10.74% |
| XYL | Xylem Inc. | 7.48% | 24.8 | 17.4 | 2.7 | 1.65% | 9.82% |
| WTRG | Essential Utilities, Inc. | 6.49% | 20.8 | 16.8 | 4.5 | 3.53% | 10.12% |
| SVT | Severn Trent PLC | 4.88% | — | — | — | — | — |
| ZWS | Zurn Elkay Water Solutions Corporation | 4.29% | 29.2 | 22.9 | 4.4 | 0.94% | 4.77% |
| CNM | Core & Main, Inc. | 4.14% | 17.3 | 17.2 | 1.0 | — | 7.79% |
| WTS | Watts Water Technologies, Inc. | 4.13% | 31.2 | 25.3 | 4.4 | 0.64% | 4.32% |
| WMS | Advanced Drainage Systems, Inc. | 3.99% | 21.8 | 20.8 | 3.0 | 0.62% | 5.94% |
| AOS | A. O. Smith Corporation | 3.96% | 16.5 | 13.8 | 2.1 | 2.57% | 7.80% |
| PNR | Pentair plc | 3.83% | 13.8 | 10.7 | 2.1 | 2.02% | 9.04% |
| PRMB | Primo Brands Corporation | 2.85% | 65.7 | 13.3 | 1.1 | 2.43% | 1.41% |
| 6370 | Kurita Water Industries Ltd | 2.61% | — | — | — | — | — |
| BMI | Badger Meter, Inc. | 2.40% | 29.6 | 26.2 | 4.2 | 1.39% | 2.64% |
| 021240 | COWAY Co. Ltd | 2.34% | — | — | — | — | — |
| FELE | Franklin Electric Co., Inc. | 2.31% | 28.9 | 18.5 | 2.0 | 1.12% | 2.60% |
| AWR | American States Water Company | 1.96% | 22.9 | 22.1 | 4.7 | 2.61% | 2.78% |
| MWA | Mueller Water Products, Inc. | 1.93% | 15.3 | 13.8 | 2.3 | 1.29% | 4.09% |
| 600008 | Beijing Capital Co Ltd | 1.73% | — | — | — | — | — |
| 0270 | Guangdong Investment Ltd | 1.73% | — | — | — | — | — |
| CWT | California Water Service Group | 1.73% | 20.8 | 17.5 | 2.7 | 2.89% | 2.70% |
| CSMG3 | Companhia de Saneamento de Minas Gerais | 1.43% | — | — | — | — | — |
| SJW | SJW Group Common Stock | 1.38% | — | — | — | — | — |
| A7RU | Keppel Infrastructure Trust | 1.12% | — | — | — | — | — |
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 AQWA valuation
Adding up its 22 holdings with company data, AQWA trades at 22.8 times trailing earnings and 17.7 times analysts' forward estimates, with a price-to-book ratio of 2.95 and a dividend yield of 1.79%. Its earnings yield of 4.39% is 0.93 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 59.5% of the fund and earn 82.4% of its combined profit. By sector, Consumer Defensive is the most expensive at 65.7 times earnings and Industrials the cheapest at 21.9. Companies that lost money over the past year are 0.5% 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 70.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: AQWA chart, AQWA performance, AQWA holdings, AQWA dividends.
AQWA valuation FAQ
What is the P/E ratio of AQWA?
Based on its holdings, AQWA has a trailing P/E of 22.8 and a forward P/E of 17.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of AQWA?
The trailing earnings yield is 4.39% (1 ÷ P/E) and the forward earnings yield 5.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is AQWA more expensive than the S&P 500?
AQWA trades at 22.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.7 and 19.9.
What is the price-to-book ratio of AQWA?
The holdings of AQWA trade at 2.95 times book value, with a combined return on equity of 12.9%.
Which sector in AQWA has the highest P/E?
Consumer Defensive has the highest P/E at 65.7 and Industrials the lowest at 21.9.