SMI 3Fourteen Full-Cycle Trend ETF (FCTE) Valuation
FCTE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 29.6 trailing earnings
- Forward P/E
- 21.7 analyst estimates
- Price / sales
- 4.04
- Price / book
- 8.60
- EV / EBITDA
- 19.0
- Earnings yield
- 3.38% inverse of P/E
- Dividend yield
- 1.25% of the holdings
- Return on equity
- 29.1% combined
- Net margin
- 13.7% combined
- Beta
- 0.93 weighted, vs S&P 500
FCTE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FCTE | 29.6 | 21.7 | 4.04 | 8.60 | 1.25% | 29.1% | 13.7% | 0.0% |
| 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.
FCTE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 36.9% | 36.2 | 24.6 | 4.11 | 14.01 | 1.33% | 38.7% |
| Industrials | 26.0% | 27.0 | 21.4 | 2.76 | 6.83 | 1.41% | 25.3% |
| Financial Services | 16.3% | 19.9 | 15.7 | 4.50 | 5.30 | 1.25% | 26.6% |
| Consumer Defensive | 5.7% | 42.3 | 33.7 | 9.72 | 9.19 | 0.00% | 21.7% |
| Consumer Cyclical | 5.4% | 25.3 | 16.6 | 4.46 | 10.41 | 1.03% | 41.1% |
| Energy | 5.0% | 44.8 | 37.7 | 26.97 | 13.85 | 0.68% | 30.9% |
| Healthcare | 4.8% | 38.8 | 21.0 | 6.20 | 7.63 | 2.10% | 19.7% |
FCTE 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 FCTE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FCTE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MNST | Monster Beverage Corporation | 5.70% | 42.3 | 33.7 | 9.7 | — | 3.98% |
| CBOE | Cboe Global Markets, Inc. | 5.49% | 24.6 | 21.9 | 6.5 | 1.09% | 6.61% |
| FDS | FactSet Research Systems Inc. | 5.47% | 20.7 | 13.9 | 4.3 | 1.54% | 7.80% |
| LMT | Lockheed Martin Corporation | 5.39% | 20.3 | 16.2 | 1.7 | 2.61% | 7.83% |
| PAYX | Paychex, Inc. | 5.38% | 22.1 | 17.5 | 6.0 | 4.26% | 7.18% |
| EBAY | eBay Inc. | 5.36% | 25.3 | 16.6 | 4.5 | 1.03% | 6.26% |
| AON | Aon plc | 5.32% | 16.1 | 13.5 | 3.5 | 1.12% | 9.75% |
| ODFL | Old Dominion Freight Line, Inc. | 5.30% | 36.1 | 27.3 | 6.9 | 0.62% | 4.34% |
| GD | General Dynamics Corporation | 5.19% | 21.0 | 18.5 | 1.7 | 1.85% | 7.31% |
| NDSN | Nordson Corporation | 5.07% | 32.6 | 24.8 | 6.0 | 1.17% | 4.59% |
| GWW | W.W. Grainger, Inc. | 5.06% | 33.9 | 24.8 | 3.3 | 0.75% | 4.41% |
| TPL | Texas Pacific Land Corporation | 5.02% | 44.8 | 37.7 | 27.0 | 0.68% | 3.31% |
| CSCO | Cisco Systems, Inc. | 5.02% | 32.2 | 19.8 | 6.7 | 1.56% | 4.60% |
| TXN | Texas Instruments Incorporated | 4.92% | 42.1 | 27.5 | 13.0 | 2.20% | 3.45% |
| JNJ | Johnson & Johnson | 4.82% | 38.8 | 21.0 | 6.2 | 2.10% | 3.67% |
| JBL | Jabil Inc. | 4.74% | 28.5 | 19.3 | 0.8 | 0.11% | 4.91% |
| ANET | Arista Networks, Inc. | 4.62% | 55.8 | 39.2 | 21.2 | — | 2.45% |
| MPWR | Monolithic Power Systems, Inc. | 4.45% | 73.7 | 38.8 | 18.2 | 0.66% | 1.78% |
| LRCX | Lam Research Corporation | 3.90% | 45.8 | 33.7 | 14.2 | 0.50% | 2.52% |
| AMAT | Applied Materials, Inc. | 3.89% | 35.3 | 23.4 | 10.5 | 0.52% | 3.26% |
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 FCTE valuation
Adding up its 20 holdings with company data, FCTE trades at 29.6 times trailing earnings and 21.7 times analysts' forward estimates, with a price-to-book ratio of 8.60 and a dividend yield of 1.25%. Its earnings yield of 3.38% is 1.95 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 53.7% of the fund and earn 65.6% of its combined profit. By sector, Energy is the most expensive at 44.8 times earnings and Financial Services the cheapest at 19.9. Companies that lost money over the past year are 0.0% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FCTE chart, FCTE performance, FCTE holdings, FCTE dividends.
FCTE valuation FAQ
What is the P/E ratio of FCTE?
Based on its holdings, FCTE has a trailing P/E of 29.6 and a forward P/E of 21.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FCTE?
The trailing earnings yield is 3.38% (1 ÷ P/E) and the forward earnings yield 4.60%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FCTE more expensive than the S&P 500?
FCTE trades at 29.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.7 and 19.9.
What is the price-to-book ratio of FCTE?
The holdings of FCTE trade at 8.60 times book value, with a combined return on equity of 29.1%.
Which sector in FCTE has the highest P/E?
Energy has the highest P/E at 44.8 and Financial Services the lowest at 19.9.