VictoryShares US 500 Volatility Wtd ETF (CFA) Valuation

NASDAQ: CFAP/E, earnings yield and other ratios of the holdings combined.

CFA valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 20.5
Forward P/E: 15.4
Price / sales: 1.92
Price / book: 3.06
EV / EBITDA: 13.5
Earnings yield: 4.89%
Dividend yield: 1.66%
Return on equity: 14.9%
Net margin: 9.4%
Beta: 0.87

CFA valuation vs other stock ETFs

P/E (TTM)Forward P/E

CFA valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
CFA	20.5	15.4	1.92	3.06	1.66%	14.9%	9.4%	0.1%
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.

CFA valuation by sector

P/E (TTM)Forward P/E

CFA valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Financial Services	19.3%	13.8	11.9	2.23	1.89	1.90%	13.6%
Industrials	16.9%	26.7	19.8	2.37	5.26	1.18%	19.7%
Technology	13.0%	26.4	18.2	3.14	4.86	0.79%	18.4%
Healthcare	11.6%	26.1	16.4	1.38	3.78	1.07%	14.5%
Consumer Cyclical	10.0%	22.1	16.9	1.63	5.26	1.62%	23.8%
Utilities	9.0%	19.3	15.5	2.62	1.93	3.15%	10.0%
Consumer Defensive	6.8%	24.4	16.6	0.93	4.02	2.49%	16.5%
Energy	5.6%	18.2	12.5	2.04	2.30	2.24%	12.6%
Basic Materials	3.9%	20.4	16.4	2.39	3.02	1.51%	14.8%
Communication Services	3.0%	16.4	12.2	1.69	2.41	2.03%	14.7%
Real Estate	0.3%	20.1	12.3	0.66	2.94	0.00%	14.6%

CFA earnings yield vs bond yields

CFA earnings yield (forward)

6.48%

CFA earnings yield (trailing)

4.89%

CFA dividend yield

1.66%

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 CFA weight splits by P/E

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

CFA largest holdings: valuation

CFA largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
BRK.B	Berkshire Hathaway Inc.	0.44%	13.4	22.7	3.0	—	0.69%
ATO	Atmos Energy Corporation	0.42%	19.9	17.6	5.7	2.39%	0.44%
WEC	WEC Energy Group, Inc.	0.42%	21.1	16.9	3.5	3.50%	0.41%
FE	FirstEnergy Corp.	0.41%	24.6	14.7	1.7	4.03%	0.34%
ED	Consolidated Edison, Inc.	0.40%	18.2	16.1	2.3	3.16%	0.46%
DUK	Duke Energy Corporation	0.39%	18.3	15.9	2.9	3.57%	0.44%
CNP	CenterPoint Energy, Inc.	0.38%	24.0	17.7	2.8	2.37%	0.33%
SO	The Southern Company	0.38%	22.0	17.0	3.5	3.33%	0.36%
L	Loews Corporation	0.38%	13.5	12.2	1.2	0.23%	0.58%
CMS	CMS Energy Corporation	0.38%	20.6	15.2	2.4	3.32%	0.38%
EVRG	Evergy, Inc.	0.38%	21.2	19.5	3.2	3.34%	0.37%
NI	NiSource Inc.	0.38%	22.7	17.4	3.0	2.81%	0.34%
PPL	PPL Corporation	0.37%	20.8	15.4	2.8	3.24%	0.37%
AEP	American Electric Power Company, Inc.	0.37%	22.0	17.2	3.0	2.99%	0.35%
AEE	Ameren Corporation	0.37%	18.7	17.5	3.5	2.83%	0.41%
AFL	Aflac Incorporated	0.37%	12.9	15.2	3.3	2.03%	0.59%
LNT	Alliant Energy Corporation	0.36%	21.6	17.5	4.0	3.13%	0.35%
KO	The Coca-Cola Company	0.36%	28.2	25.3	8.1	2.26%	0.26%
PEG	Public Service Enterprise Group Incorporated	0.36%	17.8	15.0	2.8	3.75%	0.42%
PG	The Procter & Gamble Company	0.36%	24.1	21.2	4.3	2.73%	0.31%
CB	Chubb Limited	0.35%	12.7	11.6	2.2	1.13%	0.57%
MKL	Markel Corporation	0.35%	10.2	15.2	1.4	—	0.70%
RSG	Republic Services, Inc.	0.34%	32.8	26.3	4.2	1.16%	0.22%
WRB	W. R. Berkley Corporation	0.34%	15.5	13.8	1.9	0.53%	0.46%
TRV	The Travelers Companies, Inc.	0.34%	10.5	10.8	1.7	1.28%	0.68%

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 CFA valuation

Adding up its 493 holdings with company data, CFA trades at 20.5 times trailing earnings and 15.4 times analysts' forward estimates, with a price-to-book ratio of 3.06 and a dividend yield of 1.66%. Its earnings yield of 4.89% is 0.44 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 4.0% of the fund and earn 4.4% of its combined profit. By sector, Industrials is the most expensive at 26.7 times earnings and Financial Services the cheapest at 13.8. Companies that lost money over the past year are 0.1% 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 99.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

CFA valuation FAQ

What is the P/E ratio of CFA?

Based on its holdings, CFA has a trailing P/E of 20.5 and a forward P/E of 15.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of CFA?

The trailing earnings yield is 4.89% (1 ÷ P/E) and the forward earnings yield 6.48%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is CFA more expensive than the S&P 500?

CFA trades at 20.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.4 and 19.9.

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

The holdings of CFA trade at 3.06 times book value, with a combined return on equity of 14.9%.

Which sector in CFA has the highest P/E?

Industrials has the highest P/E at 26.7 and Financial Services the lowest at 13.8.