Schwab Fundamental U.S. Broad Market ETF (FNDB) Valuation

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

FNDB valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 24.8
Forward P/E: 14.6
Price / sales: 1.43
Price / book: 2.89
EV / EBITDA: 12.0
Earnings yield: 4.03%
Dividend yield: 1.80%
Return on equity: 11.6%
Net margin: 5.8%
Beta: 0.90

FNDB valuation vs other stock ETFs

P/E (TTM)Forward P/E

FNDB valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
FNDB	24.8	14.6	1.43	2.89	1.80%	11.6%	5.8%	5.8%
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.

FNDB valuation by sector

P/E (TTM)Forward P/E

FNDB valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	18.5%	32.6	19.1	3.24	6.06	0.81%	18.6%
Financial Services	14.7%	13.6	12.0	2.32	1.80	1.89%	13.3%
Healthcare	13.5%	45.9	14.6	0.96	3.26	1.80%	7.1%
Energy	9.7%	18.5	11.4	1.35	2.34	2.15%	12.6%
Consumer Cyclical	9.4%	30.8	13.9	0.81	2.86	1.59%	9.3%
Industrials	9.0%	32.8	17.0	1.37	3.89	1.59%	11.9%
Communication Services	7.9%	15.4	12.9	1.94	2.67	1.86%	17.3%
Consumer Defensive	7.8%	35.7	17.1	0.89	3.75	2.61%	10.5%
Basic Materials	3.1%	n/m	13.2	1.11	2.25	1.92%	−0.4%
Utilities	3.1%	17.5	14.5	2.42	1.89	3.29%	10.8%
Real Estate	2.2%	62.1	22.8	2.69	1.99	4.37%	3.2%
Services	0.0%	23.7	15.1	1.22	2.64	3.10%	11.2%

FNDB earnings yield vs bond yields

FNDB earnings yield (forward)

6.85%

FNDB earnings yield (trailing)

4.03%

FNDB dividend yield

1.80%

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 FNDB weight splits by P/E

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

FNDB largest holdings: valuation

FNDB largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	4.54%	39.4	35.2	10.7	0.31%	2.91%
MSFT	Microsoft Corporation	3.00%	29.5	25.1	11.8	0.74%	2.57%
XOM	Exxon Mobil Corporation	2.23%	23.0	14.8	2.0	2.30%	2.45%
AMZN	Amazon.com, Inc.	1.79%	20.1	23.6	3.5	—	2.25%
BRK.B	Berkshire Hathaway Inc.	1.58%	13.4	22.7	3.0	—	2.98%
CVX	Chevron Corporation	1.56%	21.2	15.2	2.1	3.16%	1.85%
GOOGL	Alphabet Inc.	1.52%	17.1	22.8	9.3	0.26%	2.24%
META	Meta Platforms, Inc.	1.47%	26.7	22.1	7.9	0.30%	1.39%
UNH	UnitedHealth Group Incorporated	1.42%	25.8	16.6	0.8	2.31%	1.39%
JPM	JPMorgan Chase & Co.	1.39%	14.2	13.5	4.7	1.94%	2.46%
GOOG	Alphabet Inc.	1.27%	16.9	21.8	9.2	0.26%	1.90%
WMT	Walmart Inc.	1.01%	43.0	38.0	1.3	0.83%	0.59%
JNJ	Johnson & Johnson	0.91%	38.8	21.0	6.2	2.10%	0.59%
VZ	Verizon Communications Inc.	0.82%	11.7	8.7	1.3	6.32%	1.78%
PG	The Procter & Gamble Company	0.80%	24.1	21.2	4.3	2.73%	0.84%
VLO	Valero Energy Corporation	0.80%	18.5	10.2	1.0	1.08%	1.09%
PFE	Pfizer Inc.	0.78%	38.9	9.7	2.6	5.81%	0.51%
BAC	Bank of America Corporation	0.78%	12.2	10.8	3.1	2.50%	1.61%
COP	ConocoPhillips	0.73%	19.4	12.7	2.7	2.29%	0.95%
MPC	Marathon Petroleum Corporation	0.71%	16.6	5.5	0.9	0.84%	1.08%
INTC	Intel Corporation	0.71%	—	63.3	8.3	—	−0.42%
WFC	Wells Fargo & Company	0.69%	11.8	10.2	3.0	2.38%	1.48%
T	AT&T Inc.	0.69%	7.7	9.9	1.3	4.74%	2.25%
ABBV	AbbVie Inc.	0.68%	80.6	16.4	7.8	2.42%	0.21%
MRK	Merck & Co., Inc.	0.67%	115.8	15.3	5.4	2.33%	0.15%

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 FNDB valuation

Adding up its 1,556 holdings with company data, FNDB trades at 24.8 times trailing earnings and 14.6 times analysts' forward estimates, with a price-to-book ratio of 2.89 and a dividend yield of 1.80%. Its earnings yield of 4.03% is 1.30 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 20.5% of the fund and earn 22.5% of its combined profit. By sector, Real Estate is the most expensive at 62.1 times earnings and Financial Services the cheapest at 13.6. Companies that lost money over the past year are 5.8% 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 99.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

FNDB valuation FAQ

What is the P/E ratio of FNDB?

Based on its holdings, FNDB has a trailing P/E of 24.8 and a forward P/E of 14.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of FNDB?

The trailing earnings yield is 4.03% (1 ÷ P/E) and the forward earnings yield 6.85%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is FNDB more expensive than the S&P 500?

FNDB trades at 24.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.6 and 19.9.

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

The holdings of FNDB trade at 2.89 times book value, with a combined return on equity of 11.6%.

Which sector in FNDB has the highest P/E?

Real Estate has the highest P/E at 62.1 and Financial Services the lowest at 13.6.