VanEck ETF (DESK) Valuation
DESK valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 49.7 trailing earnings
- Forward P/E
- 28.2 analyst estimates
- Price / sales
- 3.75
- Price / book
- 1.25
- EV / EBITDA
- 13.4
- Earnings yield
- 2.01% inverse of P/E
- Dividend yield
- 4.56% of the holdings
- Return on equity
- 2.5% combined
- Net margin
- 7.6% combined
- Beta
- 1.15 weighted, vs S&P 500
DESK valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| DESK | 49.7 | 28.2 | 3.75 | 1.25 | 4.56% | 2.5% | 7.6% | 10.6% |
| 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.
DESK valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 96.5% | 49.7 | 28.2 | 3.75 | 1.25 | 4.56% | 2.5% |
DESK 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 DESK weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
DESK largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| VNO | Vornado Realty Trust | 10.56% | 823.2 | 57.1 | 3.6 | 2.25% | 0.69% |
| KRC | Kilroy Realty Corporation | 10.01% | 24.4 | 99.0 | 3.7 | 6.20% | 22.16% |
| CUZ | Cousins Properties Incorporated | 9.95% | 691.0 | 10.1 | 4.4 | 4.63% | 0.78% |
| BXP | BXP, Inc. | 9.84% | 31.8 | 27.3 | 3.4 | 4.73% | 16.66% |
| CDP | COPT Defense Properties | 9.22% | 23.1 | 38.2 | 4.9 | 3.84% | 21.48% |
| PDM | Piedmont Office Realty Trust, Inc. | 4.78% | — | 75.2 | 2.0 | — | −18.41% |
| HIW | Highwoods Properties, Inc. | 4.76% | 19.4 | 65.8 | 3.9 | 6.82% | 13.21% |
| ESRT | Empire State Realty Trust, Inc. | 4.48% | 231.0 | 129.9 | 1.8 | 3.03% | 1.04% |
| DEI | Douglas Emmett, Inc. | 4.46% | — | 9.0 | 1.9 | 7.79% | −3.08% |
| GEI | SL Green Realty Corp | 4.30% | — | — | — | — | — |
| SPG | Simon Property Group, Inc. | 4.22% | 14.5 | 30.7 | 11.2 | 4.33% | 15.70% |
| DEA | Easterly Government Properties, Inc. | 4.20% | 114.8 | 73.0 | 2.9 | 8.25% | 1.97% |
| O | Realty Income Corporation | 4.05% | 40.6 | 33.7 | 8.7 | 5.81% | 5.37% |
| PLD | Prologis, Inc. | 3.73% | 27.7 | 29.2 | 12.4 | 3.40% | 7.25% |
| WPC | W. P. Carey Inc. | 1.29% | 22.3 | 24.2 | 8.2 | 5.83% | 3.13% |
| KIM | Kimco Realty Corporation | 1.08% | 27.0 | 27.5 | 7.0 | 4.89% | 2.15% |
| EGP | EastGroup Properties, Inc. | 0.90% | 34.5 | 42.0 | 14.1 | 3.56% | 1.40% |
| REG | Regency Centers Corporation | 0.87% | 24.7 | 28.9 | 8.1 | 4.12% | 1.90% |
| BRX | Brixmor Property Group Inc. | 0.79% | 19.8 | 25.2 | 6.0 | 4.45% | 2.16% |
| FRT | Federal Realty Investment Trust | 0.73% | 21.5 | 34.7 | 7.0 | 4.36% | 1.82% |
| FR | First Industrial Realty Trust, Inc. | 0.63% | 21.4 | 36.8 | 10.6 | 3.40% | 1.59% |
| ADC | Agree Realty Corporation | 0.59% | 36.0 | 35.1 | 10.7 | 4.85% | 0.88% |
| NNN | NNN REIT Inc | 0.53% | 20.6 | 20.4 | 8.4 | 5.97% | 1.38% |
| REXR | Rexford Industrial Realty, Inc. | 0.49% | — | 18.8 | 8.5 | 4.72% | −1.25% |
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 DESK valuation
Adding up its 23 holdings with company data, DESK trades at 49.7 times trailing earnings and 28.2 times analysts' forward estimates, with a price-to-book ratio of 1.25 and a dividend yield of 4.56%. Its earnings yield of 2.01% is 3.31 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 72.4% of the fund and earn 70.2% of its combined profit. Companies that lost money over the past year are 10.6% 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 95.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: DESK chart, DESK performance, DESK holdings, DESK dividends.
DESK valuation FAQ
What is the P/E ratio of DESK?
Based on its holdings, DESK has a trailing P/E of 49.7 and a forward P/E of 28.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of DESK?
The trailing earnings yield is 2.01% (1 ÷ P/E) and the forward earnings yield 3.54%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is DESK more expensive than the S&P 500?
DESK trades at 49.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 28.2 and 19.9.
What is the price-to-book ratio of DESK?
The holdings of DESK trade at 1.25 times book value, with a combined return on equity of 2.5%.