Capital Group U.S. Small and Mid Cap ETF (CGMM) Valuation

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

CGMM valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 29.1
Forward P/E: 16.3
Price / sales: 1.92
Price / book: 2.96
EV / EBITDA: 15.1
Earnings yield: 3.44%
Dividend yield: 1.04%
Return on equity: 10.2%
Net margin: 6.6%
Beta: 1.17

CGMM valuation vs other stock ETFs

P/E (TTM)Forward P/E

CGMM valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
CGMM	29.1	16.3	1.92	2.96	1.04%	10.2%	6.6%	12.7%
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.

CGMM valuation by sector

P/E (TTM)Forward P/E

CGMM valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Financial Services	18.9%	16.3	11.3	2.86	1.61	1.83%	9.9%
Technology	16.8%	55.2	16.4	1.47	3.64	0.10%	6.6%
Industrials	14.9%	39.3	21.7	2.86	5.54	0.81%	14.1%
Healthcare	12.9%	51.7	17.6	1.37	3.84	0.25%	7.4%
Consumer Cyclical	10.0%	44.1	23.6	1.89	5.94	1.37%	13.5%
Consumer Defensive	5.1%	32.5	20.0	1.05	4.78	0.00%	14.7%
Communication Services	4.3%	222.2	21.7	2.84	3.93	0.38%	1.8%
Energy	4.1%	16.4	11.7	2.23	1.57	2.26%	9.6%
Basic Materials	3.3%	14.4	14.6	1.93	2.32	1.29%	16.1%
Utilities	3.2%	13.3	10.6	1.69	1.35	3.18%	10.1%
Real Estate	2.8%	24.9	32.2	7.02	5.76	3.58%	23.1%

CGMM earnings yield vs bond yields

CGMM earnings yield (forward)

6.13%

CGMM earnings yield (trailing)

3.44%

CGMM dividend yield

1.04%

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 CGMM weight splits by P/E

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

CGMM largest holdings: valuation

CGMM largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
RNR	RenaissanceRe Holdings Ltd.	2.38%	6.1	8.1	1.3	0.47%	12.07%
EXC	Exelon Corporation	2.28%	16.0	13.7	1.8	3.86%	4.39%
USFD	US Foods Holding Corp.	2.25%	31.4	17.0	0.5	—	2.21%
TW	Tradeweb Markets Inc.	2.14%	27.2	26.0	11.1	0.49%	2.43%
XYZ	Block, Inc	1.97%	139.1	14.5	1.9	—	0.44%
DASH	DoorDash, Inc.	1.91%	99.6	38.0	5.2	—	0.59%
SWKS	Skyworks Solutions, Inc.	1.84%	41.3	17.8	4.7	—	1.37%
VYLR	Vylor Inc.	1.76%	103.1	—	2.7	—	0.53%
BE	Bloom Energy Corporation	1.68%	291.2	57.1	20.9	—	0.18%
CASY	Casey's General Stores, Inc.	1.68%	33.2	29.1	1.4	0.38%	1.56%
KEY	KeyCorp	1.48%	11.6	9.9	2.9	4.10%	3.91%
ALGN	Align Technology, Inc.	1.46%	25.6	11.7	2.5	—	1.75%
CPRT	Copart, Inc.	1.40%	18.0	17.2	5.5	—	2.40%
BSX	Boston Scientific Corporation	1.38%	18.0	13.2	3.1	—	2.37%
CFG	Citizens Financial Group, Inc.	1.36%	13.8	9.9	3.3	2.90%	3.04%
FANG	Diamondback Energy, Inc.	1.30%	38.8	10.0	3.5	2.16%	1.03%
Z	Zillow Group, Inc	1.27%	134.0	9.9	2.5	—	0.29%
ESNT	Essent Group Ltd.	1.26%	9.0	8.2	4.4	2.16%	4.31%
SLB	Schlumberger Limited	1.22%	23.9	15.9	2.0	2.38%	1.57%
NYT	The New York Times Company	1.21%	28.2	21.1	3.7	1.36%	1.32%
RGLD	Royal Gold, Inc.	1.21%	26.4	24.2	13.1	0.80%	1.41%
AKAM	Akamai Technologies, Inc.	1.20%	31.8	15.0	2.9	—	1.16%
SPG	Simon Property Group, Inc.	1.19%	14.5	30.7	11.2	4.33%	2.52%
RVMD	Revolution Medicines, Inc.	1.18%	—	—	9,035.1	—	−1.82%
VCTR	Victory Capital Holdings, Inc.	1.14%	19.9	12.7	4.3	1.84%	1.77%

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 CGMM valuation

Adding up its 109 holdings with company data, CGMM trades at 29.1 times trailing earnings and 16.3 times analysts' forward estimates, with a price-to-book ratio of 2.96 and a dividend yield of 1.04%. Its earnings yield of 3.44% is 1.89 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 19.9% of the fund and earn 25.7% of its combined profit. By sector, Communication Services is the most expensive at 222.2 times earnings and Utilities the cheapest at 13.3. Companies that lost money over the past year are 12.7% 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 96.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

CGMM valuation FAQ

What is the P/E ratio of CGMM?

Based on its holdings, CGMM has a trailing P/E of 29.1 and a forward P/E of 16.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of CGMM?

The trailing earnings yield is 3.44% (1 ÷ P/E) and the forward earnings yield 6.13%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is CGMM more expensive than the S&P 500?

CGMM trades at 29.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.3 and 19.9.

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

The holdings of CGMM trade at 2.96 times book value, with a combined return on equity of 10.2%.

Which sector in CGMM has the highest P/E?

Communication Services has the highest P/E at 222.2 and Utilities the lowest at 13.3.