First Trust Dow Jones Internet Index Fund (FDN) Valuation
FDN valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 29.1 trailing earnings
- Forward P/E
- 22.8 analyst estimates
- Price / sales
- 5.92
- Price / book
- 7.88
- EV / EBITDA
- 17.0
- Earnings yield
- 3.44% inverse of P/E
- Dividend yield
- 0.37% of the holdings
- Return on equity
- 27.1% combined
- Net margin
- 20.4% combined
- Beta
- 1.34 weighted, vs S&P 500
FDN valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FDN | 29.1 | 22.8 | 5.92 | 7.88 | 0.37% | 27.1% | 20.4% | 10.8% |
| 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.
FDN valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 44.0% | 43.4 | 25.7 | 7.64 | 9.62 | 0.54% | 22.2% |
| Communication Services | 28.2% | 23.0 | 22.2 | 7.80 | 7.86 | 0.20% | 34.2% |
| Consumer Cyclical | 23.2% | 24.5 | 21.1 | 3.90 | 7.44 | 0.26% | 30.4% |
| Financial Services | 2.4% | 13.4 | 11.6 | 1.79 | 2.71 | 0.74% | 20.2% |
| Healthcare | 1.6% | 50.9 | 30.2 | 14.53 | 5.90 | 0.00% | 11.6% |
| Industrials | 0.9% | 18.0 | 17.2 | 5.53 | 2.93 | 0.00% | 16.3% |
FDN 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 FDN weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FDN largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMZN | Amazon.com, Inc. | 10.52% | 20.1 | 23.6 | 3.5 | — | 15.20% |
| META | Meta Platforms, Inc. | 10.30% | 26.7 | 22.1 | 7.9 | 0.30% | 11.19% |
| CSCO | Cisco Systems, Inc. | 8.62% | 32.2 | 19.8 | 6.7 | 1.56% | 7.76% |
| NFLX | Netflix, Inc. | 5.85% | 22.2 | 18.7 | 6.1 | — | 7.66% |
| GOOGL | Alphabet Inc. | 5.76% | 17.1 | 22.8 | 9.3 | 0.26% | 9.79% |
| CRM | Salesforce, Inc. | 4.59% | 22.0 | 14.0 | 4.5 | 0.73% | 6.05% |
| GOOG | Alphabet Inc. | 4.25% | 16.9 | 21.8 | 9.2 | 0.26% | 7.31% |
| ANET | Arista Networks, Inc. | 4.09% | 55.8 | 39.2 | 21.2 | — | 2.13% |
| BKNG | Booking Holdings Inc. | 4.07% | 18.1 | 13.3 | 4.3 | 1.03% | 6.53% |
| SNOW | Snowflake Inc. | 3.99% | — | 169.5 | 19.9 | — | −1.20% |
| ORCL | Oracle Corporation | 3.62% | 20.1 | 17.8 | 5.4 | 1.56% | 5.23% |
| NET | Cloudflare, Inc. | 3.30% | — | 178.6 | 42.0 | — | −0.17% |
| DDOG | Datadog, Inc. | 3.09% | 494.2 | 84.7 | 22.4 | — | 0.18% |
| ABNB | Airbnb, Inc. | 2.62% | 39.6 | 25.4 | 7.9 | — | 1.92% |
| DASH | DoorDash, Inc. | 2.47% | 99.6 | 38.0 | 5.2 | — | 0.72% |
| PYPL | PayPal Holdings, Inc. | 1.78% | 10.7 | 9.1 | 1.4 | 0.99% | 4.83% |
| EBAY | eBay Inc. | 1.68% | 25.3 | 16.6 | 4.5 | 1.03% | 1.92% |
| CIEN | Ciena Corporation | 1.60% | 74.4 | 39.8 | 7.8 | — | 0.63% |
| VEEV | Veeva Systems Inc. | 1.60% | 50.9 | 30.2 | 14.5 | — | 0.91% |
| WDAY | Workday, Inc. | 1.49% | 38.9 | 17.7 | 4.5 | — | 1.11% |
| CVNA | Carvana Co. | 1.47% | 31.1 | 29.9 | 2.6 | — | 1.37% |
| RBLX | Roblox Corporation | 1.24% | — | 192.3 | 6.2 | — | −0.97% |
| TEAM | Atlassian Corporation | 1.22% | — | 36.2 | 8.0 | — | −0.02% |
| OKTA | Okta, Inc. | 1.22% | 112.8 | 54.3 | 10.7 | — | 0.31% |
| FFIV | F5, Inc. | 0.89% | 35.2 | 24.6 | 7.6 | — | 0.73% |
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 FDN valuation
Adding up its 40 holdings with company data, FDN trades at 29.1 times trailing earnings and 22.8 times analysts' forward estimates, with a price-to-book ratio of 7.88 and a dividend yield of 0.37%. Its earnings yield of 3.44% is 1.89 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 62.0% of the fund and earn 72.4% of its combined profit. By sector, Healthcare is the most expensive at 50.9 times earnings and Financial Services the cheapest at 13.4. Companies that lost money over the past year are 10.8% 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 99.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FDN chart, FDN performance, FDN holdings.
FDN valuation FAQ
What is the P/E ratio of FDN?
Based on its holdings, FDN has a trailing P/E of 29.1 and a forward P/E of 22.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FDN?
The trailing earnings yield is 3.44% (1 ÷ P/E) and the forward earnings yield 4.38%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FDN more expensive than the S&P 500?
FDN trades at 29.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.8 and 19.9.
What is the price-to-book ratio of FDN?
The holdings of FDN trade at 7.88 times book value, with a combined return on equity of 27.1%.
Which sector in FDN has the highest P/E?
Healthcare has the highest P/E at 50.9 and Financial Services the lowest at 13.4.