Invesco Zacks Mid-Cap ETF (CZA) Valuation
CZA valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 18.3 trailing earnings
- Forward P/E
- 14.2 analyst estimates
- Price / sales
- 1.45
- Price / book
- 2.44
- EV / EBITDA
- 11.8
- Earnings yield
- 5.45% inverse of P/E
- Dividend yield
- 2.05% of the holdings
- Return on equity
- 13.3% combined
- Net margin
- 7.9% combined
- Beta
- 0.77 weighted, vs S&P 500
CZA valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| CZA | 18.3 | 14.2 | 1.45 | 2.44 | 2.05% | 13.3% | 7.9% | 1.4% |
| 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.
CZA valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 23.5% | 13.9 | 11.0 | 1.69 | 1.78 | 2.55% | 12.8% |
| Industrials | 13.3% | 27.0 | 19.2 | 2.12 | 5.43 | 0.93% | 20.1% |
| Healthcare | 12.2% | 22.6 | 14.7 | 2.26 | 3.17 | 0.95% | 14.0% |
| Consumer Cyclical | 9.9% | 17.0 | 15.3 | 1.24 | 3.79 | 1.64% | 22.3% |
| Utilities | 8.8% | 19.0 | 15.7 | 2.46 | 1.76 | 3.40% | 9.3% |
| Technology | 8.0% | 15.7 | 11.6 | 1.06 | 2.11 | 0.41% | 13.4% |
| Basic Materials | 7.1% | 22.4 | 16.1 | 1.99 | 2.20 | 1.71% | 9.8% |
| Real Estate | 5.6% | 30.3 | 29.8 | 6.19 | 2.62 | 4.25% | 8.6% |
| Consumer Defensive | 5.4% | 25.5 | 14.6 | 0.40 | 2.21 | 2.46% | 8.7% |
| Energy | 3.4% | 12.8 | 13.2 | 0.91 | 2.88 | 4.47% | 22.5% |
CZA 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 CZA weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
CZA largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WCN | Waste Connections, Inc. | 2.23% | 40.6 | 18.1 | 4.3 | 0.83% | 1.08% |
| MSCI | MSCI Inc. | 2.22% | 31.1 | 24.7 | 12.4 | 1.44% | 1.40% |
| AIG | American International Group, Inc. | 2.10% | 14.8 | 8.5 | 1.6 | 2.48% | 2.78% |
| ED | Consolidated Edison, Inc. | 2.07% | 18.2 | 16.1 | 2.3 | 3.16% | 2.22% |
| WAT | Waters Corporation | 2.02% | 110.6 | 24.8 | 9.2 | — | 0.36% |
| SYY | Sysco Corporation | 1.86% | 21.9 | 15.2 | 0.5 | 2.68% | 1.66% |
| PRU | Prudential Financial, Inc. | 1.86% | 10.5 | 9.8 | 0.6 | 4.83% | 3.46% |
| ADM | Archer-Daniels-Midland Company | 1.82% | 22.6 | 15.6 | 0.5 | 2.52% | 1.57% |
| RPRX | Royalty Pharma plc | 1.82% | 32.4 | 29.4 | 13.9 | 1.54% | 1.10% |
| PEG | Public Service Enterprise Group Incorporated | 1.81% | 17.8 | 15.0 | 2.8 | 3.75% | 1.99% |
| HIG | The Hartford Financial Services Group, Inc. | 1.80% | 9.6 | 9.2 | 1.2 | 1.78% | 3.68% |
| BAP | Credicorp Ltd. | 1.67% | 14.7 | 10.1 | 1.4 | 3.69% | 2.22% |
| CMG | Chipotle Mexican Grill, Inc. | 1.66% | 27.4 | 28.5 | 3.0 | — | 1.19% |
| VG | Venture Global, Inc. | 1.66% | 10.0 | 14.4 | 1.9 | 1.26% | 3.24% |
| NTR | Nutrien Ltd | 1.62% | — | — | — | — | — |
| GEHC | GE HealthCare Technologies Inc. | 1.58% | 16.0 | 12.1 | 1.5 | 0.23% | 1.94% |
| ZTS | Zoetis Inc. | 1.58% | 13.1 | 12.0 | 3.4 | 2.67% | 2.37% |
| HBAN | Huntington Bancshares Incorporated | 1.55% | 11.7 | 8.6 | 3.4 | 4.06% | 2.58% |
| WTW | Willis Towers Watson Public Limited Company | 1.51% | 19.5 | 13.1 | 2.9 | 1.22% | 1.52% |
| NTRS | Northern Trust Corporation | 1.47% | 14.2 | 13.8 | 3.3 | 1.98% | 2.02% |
| TW | Tradeweb Markets Inc. | 1.41% | 27.2 | 26.0 | 11.1 | 0.49% | 1.02% |
| EXR | Extra Space Storage Inc. | 1.40% | 30.8 | 29.0 | 8.8 | 4.64% | 0.89% |
| ZM | Zoom Video Communications, Inc. | 1.38% | 8.7 | 15.1 | 5.5 | — | 3.10% |
| ATO | Atmos Energy Corporation | 1.35% | 19.9 | 17.6 | 5.7 | 2.39% | 1.33% |
| TDY | Teledyne Technologies Incorporated | 1.35% | 29.9 | 23.6 | 4.5 | — | 0.88% |
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 CZA valuation
Adding up its 93 holdings with company data, CZA trades at 18.3 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 2.44 and a dividend yield of 2.05%. Its earnings yield of 5.45% is 0.13 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 19.8% of the fund and earn 17.6% of its combined profit. By sector, Real Estate is the most expensive at 30.3 times earnings and Energy the cheapest at 12.8. Companies that lost money over the past year are 1.4% 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 94.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: CZA chart, CZA performance, CZA holdings, CZA dividends.
CZA valuation FAQ
What is the P/E ratio of CZA?
Based on its holdings, CZA has a trailing P/E of 18.3 and a forward P/E of 14.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of CZA?
The trailing earnings yield is 5.45% (1 ÷ P/E) and the forward earnings yield 7.04%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is CZA more expensive than the S&P 500?
CZA trades at 18.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.2 and 19.9.
What is the price-to-book ratio of CZA?
The holdings of CZA trade at 2.44 times book value, with a combined return on equity of 13.3%.
Which sector in CZA has the highest P/E?
Real Estate has the highest P/E at 30.3 and Energy the lowest at 12.8.