First Trust Dorsey Wright Momentum & Low… (DVOL) Valuation

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

DVOL valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 20.4
Forward P/E: 16.6
Price / sales: 2.22
Price / book: 3.32
EV / EBITDA: 16.1
Earnings yield: 4.89%
Dividend yield: 1.62%
Return on equity: 16.2%
Net margin: 10.8%
Beta: 0.87

DVOL valuation vs other stock ETFs

P/E (TTM)Forward P/E

DVOL valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
DVOL	20.4	16.6	2.22	3.32	1.62%	16.2%	10.8%	2.2%
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.

DVOL valuation by sector

P/E (TTM)Forward P/E

DVOL valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Financial Services	37.8%	13.3	11.3	2.71	1.98	1.96%	14.9%
Industrials	18.2%	36.0	26.5	2.58	6.93	0.77%	19.3%
Real Estate	11.3%	28.0	35.8	9.25	3.63	3.03%	13.0%
Consumer Cyclical	7.7%	29.9	22.9	4.56	21.42	0.98%	71.7%
Energy	7.4%	21.5	14.5	1.86	3.57	2.11%	16.6%
Healthcare	7.4%	34.1	18.5	0.90	8.55	1.34%	25.1%
Technology	4.5%	29.2	25.3	1.34	8.63	0.63%	29.6%
Basic Materials	2.8%	23.9	16.4	1.33	2.65	1.22%	11.1%
Consumer Defensive	1.4%	31.4	17.0	0.55	4.75	0.00%	15.1%
Communication Services	1.2%	n/m	119.0	1.51	478.28	0.00%	−311.4%

DVOL earnings yield vs bond yields

DVOL earnings yield (forward)

6.04%

DVOL earnings yield (trailing)

4.89%

DVOL dividend yield

1.62%

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 DVOL weight splits by P/E

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

DVOL largest holdings: valuation

DVOL largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
SPG	Simon Property Group, Inc.	3.45%	14.5	30.7	11.2	4.33%	4.87%
TRV	The Travelers Companies, Inc.	3.37%	10.5	10.8	1.7	1.28%	6.59%
CFR	Cullen/Frost Bankers, Inc.	3.17%	14.7	14.0	4.3	2.66%	4.43%
PRI	Primerica, Inc.	3.16%	11.4	14.0	2.5	1.70%	5.70%
CTAS	Cintas Corporation	3.11%	42.1	36.2	7.3	0.97%	1.51%
HLT	Hilton Worldwide Holdings Inc.	3.10%	50.6	28.7	15.2	0.17%	1.25%
CVX	Chevron Corporation	3.04%	21.2	15.2	2.1	3.16%	2.93%
WELL	Welltower Inc.	2.96%	105.3	78.1	13.3	1.45%	0.58%
BNY	The Bank of New York Mellon Corporation	2.95%	15.9	15.0	4.4	1.55%	3.81%
JPM	JPMorgan Chase & Co.	2.93%	14.2	13.5	4.7	1.94%	4.21%
RS	Reliance Steel & Aluminum Co.	2.82%	23.9	16.4	1.3	1.22%	2.41%
AAPL	Apple Inc.	2.78%	39.4	35.2	10.7	0.31%	1.44%
GWW	W.W. Grainger, Inc.	2.76%	33.9	24.8	3.3	0.75%	1.66%
PFG	Principal Financial Group, Inc.	2.64%	15.5	9.1	1.5	3.09%	3.48%
BPOP	Popular, Inc.	2.63%	10.7	9.7	3.3	2.27%	5.02%
AME	AMETEK, Inc.	2.52%	36.3	28.2	7.2	0.55%	1.42%
STT	State Street Corporation	2.48%	13.5	11.9	2.9	2.22%	3.75%
AHR	American Healthcare REIT, Inc.	2.47%	79.4	48.1	4.6	1.88%	0.64%
CTRE	CareTrust REIT, Inc.	2.45%	22.8	21.3	15.1	4.27%	2.20%
ONB	Old National Bancorp	2.39%	11.1	8.4	3.6	2.32%	4.43%
SCHW	The Charles Schwab Corporation	2.21%	15.7	12.9	5.9	1.39%	2.88%
AIT	Applied Industrial Technologies, Inc.	2.13%	30.2	27.8	2.4	0.62%	1.45%
ROST	Ross Stores, Inc.	2.13%	28.6	27.4	3.1	0.75%	1.52%
ARMK	Aramark	2.08%	38.7	21.5	0.7	0.87%	1.10%
WAB	Westinghouse Air Brake Technologies Corporation	2.08%	38.6	23.8	4.0	0.43%	1.11%

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 DVOL valuation

Adding up its 49 holdings with company data, DVOL trades at 20.4 times trailing earnings and 16.6 times analysts' forward estimates, with a price-to-book ratio of 3.32 and a dividend yield of 1.62%. 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 31.2% of the fund and earn 35.9% of its combined profit. By sector, Industrials is the most expensive at 36.0 times earnings and Financial Services the cheapest at 13.3. Companies that lost money over the past year are 2.2% 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 98.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

DVOL valuation FAQ

What is the P/E ratio of DVOL?

Based on its holdings, DVOL has a trailing P/E of 20.4 and a forward P/E of 16.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of DVOL?

The trailing earnings yield is 4.89% (1 ÷ P/E) and the forward earnings yield 6.04%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is DVOL more expensive than the S&P 500?

DVOL trades at 20.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.6 and 19.9.

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

The holdings of DVOL trade at 3.32 times book value, with a combined return on equity of 16.2%.

Which sector in DVOL has the highest P/E?

Industrials has the highest P/E at 36.0 and Financial Services the lowest at 13.3.