Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) Valuation

NYSE Arca: FEACP/E, earnings yield and other ratios of the holdings combined.

FEAC valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 27.1
Forward P/E: 17.6
Price / sales: 2.50
Price / book: 4.48
EV / EBITDA: 12.6
Earnings yield: 3.69%
Dividend yield: 0.92%
Return on equity: 16.5%
Net margin: 9.2%
Beta: 1.14

FEAC valuation vs other stock ETFs

P/E (TTM)Forward P/E

FEAC valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
FEAC	27.1	17.6	2.50	4.48	0.92%	16.5%	9.2%	5.4%
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.

FEAC valuation by sector

P/E (TTM)Forward P/E

FEAC valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	39.1%	30.2	21.0	5.97	10.27	0.45%	34.1%
Financial Services	13.2%	13.6	14.2	2.78	2.31	1.19%	17.0%
Healthcare	12.6%	49.3	16.6	1.88	4.77	1.34%	9.7%
Industrials	9.0%	34.8	21.0	2.14	4.83	1.10%	13.9%
Communication Services	8.3%	19.7	16.1	2.47	3.05	1.11%	15.5%
Consumer Cyclical	6.6%	80.1	15.9	0.96	3.46	0.53%	4.3%
Basic Materials	2.8%	28.3	16.4	2.12	3.81	0.98%	13.5%
Energy	2.8%	20.3	11.3	1.29	2.57	1.57%	12.7%
Consumer Defensive	2.6%	54.3	17.3	0.90	3.54	1.60%	6.5%
Real Estate	0.8%	19.0	12.9	1.81	1.25	6.39%	6.6%
Utilities	0.4%	22.5	13.6	2.53	4.06	1.52%	18.0%
Financials	0.1%	16.2	—	4.22	1.27	1.94%	7.8%

FEAC earnings yield vs bond yields

FEAC earnings yield (forward)

5.67%

FEAC earnings yield (trailing)

3.69%

FEAC dividend yield

0.92%

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 FEAC weight splits by P/E

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

FEAC largest holdings: valuation

FEAC largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
NVDA	NVIDIA Corporation	7.65%	27.1	24.9	17.1	0.47%	7.89%
AAPL	Apple Inc.	7.43%	39.4	35.2	10.7	0.31%	5.27%
MSFT	Microsoft Corporation	4.74%	29.5	25.1	11.8	0.74%	4.49%
GOOGL	Alphabet Inc.	3.69%	17.1	22.8	9.3	0.26%	6.03%
AMZN	Amazon.com, Inc.	2.53%	20.1	23.6	3.5	—	3.52%
AVGO	Broadcom Inc.	2.48%	43.3	19.4	17.6	0.79%	1.60%
LLY	Eli Lilly and Company	2.20%	42.2	24.4	14.1	0.55%	1.46%
BRK.B	Berkshire Hathaway Inc.	1.96%	13.4	22.7	3.0	—	4.08%
MU	Micron Technology, Inc.	1.82%	11.8	7.0	7.5	0.07%	4.30%
META	Meta Platforms, Inc.	1.36%	26.7	22.1	7.9	0.30%	1.42%
ABBV	AbbVie Inc.	1.32%	80.6	16.4	7.8	2.42%	0.46%
CSCO	Cisco Systems, Inc.	1.16%	32.2	19.8	6.7	1.56%	1.00%
RTX	RTX Corporation	1.00%	34.1	24.6	2.8	1.51%	0.82%
GILD	Gilead Sciences, Inc.	0.96%	—	15.6	6.4	2.10%	−0.45%
ADI	Analog Devices, Inc.	0.95%	47.0	23.2	13.8	1.11%	0.57%
GCP	General Electric Company	0.91%	—	—	—	—	—
PGR	The Progressive Corporation	0.90%	11.0	12.7	1.4	0.18%	2.27%
SPGI	S&P Global Inc.	0.90%	26.1	19.9	7.9	0.90%	0.96%
V	Visa Inc.	0.88%	34.3	24.0	17.0	0.67%	0.72%
APH	Amphenol Corporation	0.87%	39.7	24.6	6.7	0.63%	0.61%
SCHW	The Charles Schwab Corporation	0.85%	15.7	12.9	5.9	1.39%	1.51%
CRWD	CrowdStrike Holdings, Inc.	0.84%	—	208.3	43.1	—	0.01%
UBER	Uber Technologies, Inc.	0.83%	15.4	15.9	2.6	—	1.51%
BMY	Bristol-Myers Squibb Company	0.81%	13.2	9.4	2.5	4.22%	1.72%
ETN	Eaton Corporation plc	0.80%	39.8	27.6	5.1	1.12%	0.56%

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 FEAC valuation

Adding up its 393 holdings with company data, FEAC trades at 27.1 times trailing earnings and 17.6 times analysts' forward estimates, with a price-to-book ratio of 4.48 and a dividend yield of 0.92%. Its earnings yield of 3.69% is 1.64 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 35.9% of the fund and earn 40.1% of its combined profit. By sector, Consumer Cyclical is the most expensive at 80.1 times earnings and Financial Services the cheapest at 13.6. Companies that lost money over the past year are 5.4% 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 97.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

FEAC valuation FAQ

What is the P/E ratio of FEAC?

Based on its holdings, FEAC has a trailing P/E of 27.1 and a forward P/E of 17.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of FEAC?

The trailing earnings yield is 3.69% (1 ÷ P/E) and the forward earnings yield 5.67%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is FEAC more expensive than the S&P 500?

FEAC trades at 27.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.6 and 19.9.

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

The holdings of FEAC trade at 4.48 times book value, with a combined return on equity of 16.5%.

Which sector in FEAC has the highest P/E?

Consumer Cyclical has the highest P/E at 80.1 and Financial Services the lowest at 13.6.