First Trust Dow Jones Select MicroCap Index Fund (FDM) Valuation
FDM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 9.5 trailing earnings
- Forward P/E
- 10.0 analyst estimates
- Price / sales
- 1.37
- Price / book
- 1.40
- EV / EBITDA
- 6.3
- Earnings yield
- 10.56% inverse of P/E
- Dividend yield
- 2.45% of the holdings
- Return on equity
- 14.8% combined
- Net margin
- 14.4% combined
- Beta
- 0.77 weighted, vs S&P 500
FDM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FDM | 9.5 | 10.0 | 1.37 | 1.40 | 2.45% | 14.8% | 14.4% | 0.2% |
| 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.
FDM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 57.2% | 10.5 | 9.9 | 2.27 | 1.29 | 2.09% | 12.3% |
| Healthcare | 6.2% | 4.4 | 8.8 | 1.64 | 2.54 | 0.27% | 57.6% |
| Industrials | 5.8% | 13.4 | 11.1 | 0.63 | 1.73 | 2.24% | 12.9% |
| Consumer Cyclical | 5.7% | 12.0 | 10.9 | 0.72 | 1.36 | 2.28% | 11.4% |
| Technology | 5.4% | 8.9 | 9.8 | 1.90 | 4.67 | 0.90% | 52.5% |
| Real Estate | 4.8% | 7.2 | 10.9 | 1.89 | 0.78 | 15.02% | 10.8% |
| Energy | 4.2% | 9.2 | 8.2 | 1.20 | 1.26 | 2.23% | 13.8% |
| Communication Services | 4.1% | 10.4 | 8.7 | 0.63 | 1.91 | 0.62% | 18.4% |
| Consumer Defensive | 3.8% | 12.0 | 15.2 | 0.53 | 1.68 | 0.96% | 13.9% |
| Basic Materials | 1.0% | 6.9 | 14.0 | 0.33 | 1.38 | 0.20% | 20.0% |
FDM 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 FDM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FDM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| PD | PagerDuty, Inc. | 2.25% | 8.0 | 11.0 | 2.6 | — | 2.74% |
| RIGL | Rigel Pharmaceuticals, Inc. | 1.52% | 2.7 | 9.3 | 3.1 | — | 5.43% |
| QNST | QuinStreet, Inc | 1.49% | 11.7 | 8.4 | 0.7 | — | 1.25% |
| APOG | Apogee Enterprises, Inc. | 1.44% | 13.1 | 13.8 | 0.6 | 2.61% | 1.07% |
| HRTG | Heritage Insurance Holdings, Inc. | 1.44% | 5.1 | — | 1.2 | — | 2.75% |
| ORRF | Orrstown Financial Services, Inc. | 1.39% | 9.4 | 8.9 | 3.2 | 2.88% | 1.44% |
| PAHC | Phibro Animal Health Corporation | 1.38% | 16.0 | 13.8 | 1.0 | 1.23% | 0.84% |
| IBCP | Independent Bank Corporation | 1.37% | 10.3 | 12.0 | 3.4 | 3.14% | 1.30% |
| REPX | Riley Exploration Permian, Inc. | 1.33% | 8.7 | 5.4 | 2.2 | 3.29% | 1.50% |
| HIPO | Hippo Holdings Inc. | 1.31% | 7.6 | — | 1.8 | — | 1.68% |
| GCMG | GCM Grosvenor Inc | 1.29% | 24.2 | 11.9 | 1.4 | 3.82% | 0.52% |
| SMP | Standard Motor Products, Inc. | 1.27% | 9.4 | 7.6 | 0.4 | 3.57% | 1.32% |
| FISI | Financial Institutions, Inc. | 1.27% | 9.8 | 11.3 | 3.2 | 3.26% | 1.27% |
| CTO | CTO Realty Growth, Inc. | 1.25% | 15.0 | 122.0 | 4.8 | 7.40% | 0.81% |
| ROOT | Root, Inc. | 1.23% | 14.3 | 3.4 | 0.5 | — | 0.84% |
| WASH | Washington Trust Bancorp, Inc. | 1.22% | 12.9 | 11.3 | 3.2 | 6.05% | 0.92% |
| SENEA | Seneca Foods Corporation | 1.21% | 9.8 | 39.4 | 0.7 | — | 1.20% |
| FLOC | Flowco Holdings Inc. | 1.20% | 14.9 | 10.5 | 2.5 | 1.91% | 0.78% |
| PGC | Peapack-Gladstone Financial Corporation | 1.18% | 15.1 | 9.6 | 2.7 | 0.46% | 0.76% |
| HTB | HomeTrust Bancshares, Inc. | 1.18% | 12.4 | 11.3 | 3.7 | 1.27% | 0.93% |
| CCBG | Capital City Bank Group, Inc. | 1.17% | 13.6 | 10.0 | 3.3 | 2.20% | 0.84% |
| SHBI | Shore Bancshares, Inc. | 1.16% | 11.4 | 10.1 | 3.3 | 2.48% | 0.99% |
| SMBC | Southern Missouri Bancorp, Inc. | 1.11% | 10.9 | 8.8 | 4.1 | 1.45% | 0.99% |
| CARE | Carter Bankshares, Inc. | 1.10% | 5.2 | 13.7 | 2.4 | 1.32% | 2.07% |
| OSPN | OneSpan Inc. | 1.10% | 9.9 | 14.0 | 2.6 | 2.97% | 1.09% |
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 FDM valuation
Adding up its 131 holdings with company data, FDM trades at 9.5 times trailing earnings and 10.0 times analysts' forward estimates, with a price-to-book ratio of 1.40 and a dividend yield of 2.45%. Its earnings yield of 10.56% is 5.23 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 14.9% of the fund and earn 20.0% of its combined profit. By sector, Industrials is the most expensive at 13.4 times earnings and Healthcare the cheapest at 4.4. Companies that lost money over the past year are 0.2% 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 97.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FDM chart, FDM performance, FDM holdings, FDM dividends.
FDM valuation FAQ
What is the P/E ratio of FDM?
Based on its holdings, FDM has a trailing P/E of 9.5 and a forward P/E of 10.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FDM?
The trailing earnings yield is 10.56% (1 ÷ P/E) and the forward earnings yield 10.00%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FDM more expensive than the S&P 500?
FDM trades at 9.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.0 and 19.9.
What is the price-to-book ratio of FDM?
The holdings of FDM trade at 1.40 times book value, with a combined return on equity of 14.8%.
Which sector in FDM has the highest P/E?
Industrials has the highest P/E at 13.4 and Healthcare the lowest at 4.4.