Fidelity Metaverse ETF (FMET) Valuation
FMET valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 61.5 trailing earnings
- Forward P/E
- 19.6 analyst estimates
- Price / sales
- 2.66
- Price / book
- 5.56
- EV / EBITDA
- 18.5
- Earnings yield
- 1.63% inverse of P/E
- Dividend yield
- 0.59% of the holdings
- Return on equity
- 9.0% combined
- Net margin
- 4.3% combined
- Beta
- 1.43 weighted, vs S&P 500
FMET valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FMET | 61.5 | 19.6 | 2.66 | 5.56 | 0.59% | 9.0% | 4.3% | 19.4% |
| 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.
FMET valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 53.4% | 37.1 | 18.7 | 2.87 | 6.66 | 0.41% | 18.0% |
| Communication Services | 36.8% | n/m | 17.1 | 1.87 | 4.60 | 0.35% | −2.9% |
| Real Estate | 8.2% | 72.0 | 57.8 | 9.83 | 3.88 | 2.41% | 5.4% |
FMET 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 FMET weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FMET largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMD | Advanced Micro Devices, Inc. | 5.32% | 134.9 | 39.5 | 20.9 | — | 2.98% |
| META | Meta Platforms, Inc. | 5.02% | 26.7 | 22.1 | 7.9 | 0.30% | 14.20% |
| MSFT | Microsoft Corporation | 4.69% | 29.5 | 25.1 | 11.8 | 0.74% | 12.03% |
| QCOM | QUALCOMM Incorporated | 4.63% | 19.9 | 19.6 | 4.2 | 2.14% | 17.57% |
| AAPL | Apple Inc. | 4.51% | 39.4 | 35.2 | 10.7 | 0.31% | 8.65% |
| EQIX | Equinix, Inc. | 4.41% | 63.4 | 52.1 | 9.8 | 2.09% | 5.25% |
| NVDA | NVIDIA Corporation | 4.40% | 27.1 | 24.9 | 17.1 | 0.47% | 12.27% |
| GOOGL | Alphabet Inc. | 4.33% | 17.1 | 22.8 | 9.3 | 0.26% | 19.13% |
| ADBE | Adobe Inc. | 4.07% | 13.7 | 8.7 | 3.7 | — | 22.44% |
| MPWR | Monolithic Power Systems, Inc. | 3.86% | 73.7 | 38.8 | 18.2 | 0.66% | 3.96% |
| DLR | Digital Realty Trust, Inc. | 3.81% | 85.4 | 66.2 | 9.8 | 2.77% | 3.37% |
| RBLX | Roblox Corporation | 3.39% | — | 192.3 | 6.2 | — | −6.88% |
| 9999 | NetEase Inc | 3.34% | — | — | — | — | — |
| TTWO | Take-Two Interactive Software, Inc. | 2.93% | — | 28.2 | 5.7 | — | −1.86% |
| PTC | PTC Inc. | 2.89% | 18.7 | 16.3 | 7.1 | — | 11.68% |
| RDDT | Reddit, Inc. | 2.23% | 36.3 | 23.2 | 10.8 | — | 4.65% |
| SMCI | Super Micro Computer, Inc. | 2.17% | 9.7 | 10.2 | 0.5 | — | 16.90% |
| 9888 | Baidu Inc | 2.15% | — | — | — | — | — |
| SWKS | Skyworks Solutions, Inc. | 1.97% | 41.3 | 17.8 | 4.7 | — | 3.61% |
| CRWV | CoreWeave, Inc. | 1.95% | — | — | 4.5 | — | −7.37% |
| PINS | Pinterest, Inc | 1.93% | 64.4 | 8.0 | 2.7 | — | 2.27% |
| U | Unity Software Inc. | 1.90% | — | 28.7 | 8.8 | — | −4.82% |
| EPAM | EPAM Systems, Inc. | 1.60% | 16.6 | 8.3 | 1.1 | — | 7.30% |
| SNAP | Snap Inc. | 1.59% | — | 7.7 | 1.6 | — | −2.99% |
| 3659 | Nexon Co Ltd | 1.45% | — | — | — | — | — |
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 FMET valuation
Adding up its 32 holdings with company data, FMET trades at 61.5 times trailing earnings and 19.6 times analysts' forward estimates, with a price-to-book ratio of 5.56 and a dividend yield of 0.59%. Its earnings yield of 1.63% is 3.70 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 45.2% of the fund and earn 118.5% of its combined profit. By sector, Real Estate is the most expensive at 72.0 times earnings and Technology the cheapest at 37.1. Companies that lost money over the past year are 19.4% 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 81.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FMET chart, FMET performance, FMET holdings, FMET dividends.
FMET valuation FAQ
What is the P/E ratio of FMET?
Based on its holdings, FMET has a trailing P/E of 61.5 and a forward P/E of 19.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FMET?
The trailing earnings yield is 1.63% (1 ÷ P/E) and the forward earnings yield 5.11%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FMET more expensive than the S&P 500?
FMET trades at 61.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.6 and 19.9.
What is the price-to-book ratio of FMET?
The holdings of FMET trade at 5.56 times book value, with a combined return on equity of 9.0%.
Which sector in FMET has the highest P/E?
Real Estate has the highest P/E at 72.0 and Technology the lowest at 37.1.