Principal Real Estate Active Opportunities ETF (BYRE) Valuation
BYRE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 48.4 trailing earnings
- Forward P/E
- 33.7 analyst estimates
- Price / sales
- 7.07
- Price / book
- 2.76
- EV / EBITDA
- 20.1
- Earnings yield
- 2.07% inverse of P/E
- Dividend yield
- 3.89% of the holdings
- Return on equity
- 5.7% combined
- Net margin
- 14.6% combined
- Beta
- 0.91 weighted, vs S&P 500
BYRE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| BYRE | 48.4 | 33.7 | 7.07 | 2.76 | 3.89% | 5.7% | 14.6% | 5.8% |
| 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.
BYRE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 93.6% | 46.7 | 33.7 | 7.17 | 2.76 | 3.92% | 5.9% |
| Technology | 0.7% | n/m | — | 2.53 | — | 0.00% | — |
BYRE 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 BYRE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
BYRE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WELL | Welltower Inc. | 8.83% | 105.3 | 78.1 | 13.3 | 1.45% | 4.61% |
| EQIX | Equinix, Inc. | 7.81% | 63.4 | 52.1 | 9.8 | 2.09% | 6.76% |
| AMT | American Tower Corporation | 7.20% | 25.5 | 24.6 | 7.9 | 3.86% | 15.53% |
| CCI | Crown Castle Inc. | 4.91% | 33.4 | 21.2 | 8.4 | 5.17% | 8.08% |
| VTR | Ventas, Inc. | 4.54% | 159.0 | 128.2 | 6.9 | 2.42% | 1.57% |
| SBRA | Sabra Health Care REIT, Inc. | 4.50% | 77.4 | 32.2 | 5.7 | 6.20% | 3.19% |
| PLD | Prologis, Inc. | 4.19% | 27.7 | 29.2 | 12.4 | 3.40% | 8.30% |
| EXR | Extra Space Storage Inc. | 3.64% | 30.8 | 29.0 | 8.8 | 4.64% | 6.49% |
| GLPI | Gaming and Leisure Properties, Inc. | 3.55% | 11.5 | 11.8 | 7.1 | 8.35% | 16.99% |
| ESS | Essex Property Trust, Inc. | 3.52% | 41.9 | 43.9 | 9.4 | 3.85% | 4.62% |
| IRM | Iron Mountain Incorporated | 3.50% | 80.4 | 58.5 | 4.4 | 3.07% | 2.40% |
| AMH | American Homes 4 Rent | 3.44% | 24.8 | 200.0 | 6.8 | 4.22% | 7.61% |
| EGP | EastGroup Properties, Inc. | 3.10% | 34.5 | 42.0 | 14.1 | 3.56% | 4.95% |
| DLR | Digital Realty Trust, Inc. | 2.88% | 85.4 | 66.2 | 9.8 | 2.77% | 1.85% |
| REXR | Rexford Industrial Realty, Inc. | 2.40% | — | 18.8 | 8.5 | 4.72% | −6.26% |
| AHR | American Healthcare REIT, Inc. | 2.30% | 79.4 | 48.1 | 4.6 | 1.88% | 1.59% |
| DOC | Healthpeak Properties, Inc. | 2.12% | 54.2 | 169.5 | 4.6 | 6.43% | 2.15% |
| SMA | SmartStop Self Storage REIT, Inc. | 2.01% | 64.5 | — | 6.9 | 4.68% | 1.72% |
| RHP | Ryman Hospitality Properties, Inc. | 1.79% | 30.7 | 25.8 | 3.2 | 3.81% | 3.21% |
| REG | Regency Centers Corporation | 1.64% | 24.7 | 28.9 | 8.1 | 4.12% | 3.64% |
| CUZ | Cousins Properties Incorporated | 1.56% | 691.0 | 10.1 | 4.4 | 4.63% | 0.12% |
| GEI | SL Green Realty Corp | 1.22% | — | — | — | — | — |
| NHI | National Health Investors, Inc. | 1.16% | 19.2 | 18.1 | 7.5 | 5.67% | 3.33% |
| MAC | The Macerich Company | 1.01% | — | — | 6.6 | 2.96% | −1.51% |
| BNL | Broadstone Net Lease, Inc. | 0.97% | 23.9 | 24.6 | 8.1 | 6.45% | 2.22% |
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 BYRE valuation
Adding up its 31 holdings with company data, BYRE trades at 48.4 times trailing earnings and 33.7 times analysts' forward estimates, with a price-to-book ratio of 2.76 and a dividend yield of 3.89%. Its earnings yield of 2.07% is 3.26 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 52.7% of the fund and earn 76.1% of its combined profit. Companies that lost money over the past year are 5.8% 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 93.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: BYRE chart, BYRE performance, BYRE holdings, BYRE dividends.
BYRE valuation FAQ
What is the P/E ratio of BYRE?
Based on its holdings, BYRE has a trailing P/E of 48.4 and a forward P/E of 33.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of BYRE?
The trailing earnings yield is 2.07% (1 ÷ P/E) and the forward earnings yield 2.96%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is BYRE more expensive than the S&P 500?
BYRE trades at 48.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 33.7 and 19.9.
What is the price-to-book ratio of BYRE?
The holdings of BYRE trade at 2.76 times book value, with a combined return on equity of 5.7%.