JPMorgan BetaBuilders MSCI US REIT (BBRE) Valuation
BBRE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 39.3 trailing earnings
- Forward P/E
- 32.0 analyst estimates
- Price / sales
- 6.61
- Price / book
- 2.27
- EV / EBITDA
- 18.1
- Earnings yield
- 2.55% inverse of P/E
- Dividend yield
- 3.98% of the holdings
- Return on equity
- 5.8% combined
- Net margin
- 16.8% combined
- Beta
- 0.96 weighted, vs S&P 500
BBRE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| BBRE | 39.3 | 32.0 | 6.61 | 2.27 | 3.98% | 5.8% | 16.8% | 5.6% |
| 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.
BBRE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 99.0% | 39.3 | 32.0 | 6.61 | 2.27 | 3.98% | 5.8% |
BBRE 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 BBRE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
BBRE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WELL | Welltower Inc. | 12.11% | 105.3 | 78.1 | 13.3 | 1.45% | 4.75% |
| PLD | Prologis, Inc. | 9.27% | 27.7 | 29.2 | 12.4 | 3.40% | 13.83% |
| SPG | Simon Property Group, Inc. | 4.42% | 14.5 | 30.7 | 11.2 | 4.33% | 12.61% |
| PSA | Public Storage | 4.23% | 28.5 | 27.2 | 11.4 | 4.02% | 6.14% |
| EQIX | Equinix, Inc. | 4.04% | 63.4 | 52.1 | 9.8 | 2.09% | 2.64% |
| DLR | Digital Realty Trust, Inc. | 3.89% | 85.4 | 66.2 | 9.8 | 2.77% | 1.88% |
| O | Realty Income Corporation | 3.79% | 40.6 | 33.7 | 8.7 | 5.81% | 3.86% |
| EQR | Equity Residential | 3.60% | — | — | — | — | — |
| VTR | Ventas, Inc. | 3.07% | 159.0 | 128.2 | 6.9 | 2.42% | 0.80% |
| IRM | Iron Mountain Incorporated | 2.71% | 80.4 | 58.5 | 4.4 | 3.07% | 1.39% |
| EXR | Extra Space Storage Inc. | 2.55% | 30.8 | 29.0 | 8.8 | 4.64% | 3.42% |
| VICI | VICI Properties Inc. | 2.10% | 9.2 | 7.8 | 6.3 | 7.80% | 9.47% |
| ESS | Essex Property Trust, Inc. | 1.58% | 41.9 | 43.9 | 9.4 | 3.85% | 1.56% |
| HST | Host Hotels & Resorts, Inc. | 1.48% | 16.2 | 22.2 | 2.7 | 3.34% | 3.79% |
| KIM | Kimco Realty Corporation | 1.37% | 27.0 | 27.5 | 7.0 | 4.89% | 2.10% |
| INVH | Invitation Homes Inc. | 1.33% | 24.8 | 30.4 | 5.6 | 4.43% | 2.21% |
| DOC | Healthpeak Properties, Inc. | 1.26% | 54.2 | 169.5 | 4.6 | 6.43% | 0.96% |
| SUI | Sun Communities, Inc. | 1.24% | 89.5 | 33.8 | 6.5 | 3.79% | 0.58% |
| MAA | Mid-America Apartment Communities, Inc. | 1.24% | 34.1 | 33.6 | 6.3 | 5.25% | 1.51% |
| WPC | W. P. Carey Inc. | 1.22% | 22.3 | 24.2 | 8.2 | 5.83% | 2.26% |
| REG | Regency Centers Corporation | 1.15% | 24.7 | 28.9 | 8.1 | 4.12% | 1.92% |
| ELS | Equity LifeStyle Properties, Inc. | 1.04% | 29.6 | 28.6 | 7.8 | 3.55% | 1.46% |
| UDR | UDR, Inc. | 1.00% | 21.7 | 51.5 | 7.1 | 5.08% | 1.91% |
| OHI | Omega Healthcare Investors, Inc. | 0.98% | 16.3 | 10.1 | 11.6 | 5.96% | 2.48% |
| AMH | American Homes 4 Rent | 0.96% | 24.8 | 200.0 | 6.8 | 4.22% | 1.59% |
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 BBRE valuation
Adding up its 98 holdings with company data, BBRE trades at 39.3 times trailing earnings and 32.0 times analysts' forward estimates, with a price-to-book ratio of 2.27 and a dividend yield of 3.98%. Its earnings yield of 2.55% is 2.78 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 51.1% of the fund and earn 51.3% of its combined profit. Companies that lost money over the past year are 5.6% 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 96.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: BBRE chart, BBRE performance, BBRE holdings, BBRE dividends.
BBRE valuation FAQ
What is the P/E ratio of BBRE?
Based on its holdings, BBRE has a trailing P/E of 39.3 and a forward P/E of 32.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of BBRE?
The trailing earnings yield is 2.55% (1 ÷ P/E) and the forward earnings yield 3.12%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is BBRE more expensive than the S&P 500?
BBRE trades at 39.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 32.0 and 19.9.
What is the price-to-book ratio of BBRE?
The holdings of BBRE trade at 2.27 times book value, with a combined return on equity of 5.8%.