Schwab Fundamental U.S. Large Company ETF (FNDX) Valuation
FNDX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.7 trailing earnings
- Forward P/E
- 14.6 analyst estimates
- Price / sales
- 1.46
- Price / book
- 2.97
- EV / EBITDA
- 12.3
- Earnings yield
- 4.22% inverse of P/E
- Dividend yield
- 1.80% of the holdings
- Return on equity
- 12.6% combined
- Net margin
- 6.1% combined
- Beta
- 0.88 weighted, vs S&P 500
FNDX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FNDX | 23.7 | 14.6 | 1.46 | 2.97 | 1.80% | 12.6% | 6.1% | 5.1% |
| 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.
FNDX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 19.2% | 30.3 | 19.5 | 3.45 | 6.35 | 0.83% | 20.9% |
| Financial Services | 14.7% | 13.6 | 12.2 | 2.34 | 1.84 | 1.82% | 13.5% |
| Healthcare | 13.8% | 43.4 | 14.5 | 0.94 | 3.26 | 1.88% | 7.5% |
| Energy | 10.9% | 18.4 | 11.5 | 1.37 | 2.37 | 2.15% | 12.8% |
| Consumer Cyclical | 8.9% | 31.8 | 13.8 | 0.82 | 2.88 | 1.64% | 9.1% |
| Industrials | 8.4% | 30.0 | 17.5 | 1.51 | 4.27 | 1.69% | 14.3% |
| Communication Services | 8.1% | 14.2 | 12.9 | 1.99 | 2.66 | 1.94% | 18.8% |
| Consumer Defensive | 7.9% | 33.7 | 17.4 | 0.88 | 3.97 | 2.65% | 11.8% |
| Basic Materials | 3.1% | n/m | 13.1 | 1.12 | 2.24 | 1.98% | −1.1% |
| Utilities | 3.1% | 17.4 | 14.4 | 2.44 | 1.90 | 3.31% | 11.0% |
| Real Estate | 1.7% | 30.4 | 24.4 | 3.11 | 2.62 | 3.94% | 8.6% |
FNDX 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 FNDX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FNDX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 4.94% | 39.4 | 35.2 | 10.7 | 0.31% | 2.99% |
| MSFT | Microsoft Corporation | 3.24% | 29.5 | 25.1 | 11.8 | 0.74% | 2.62% |
| XOM | Exxon Mobil Corporation | 2.68% | 23.0 | 14.8 | 2.0 | 2.30% | 2.78% |
| BRK.B | Berkshire Hathaway Inc. | 1.90% | 13.4 | 22.7 | 3.0 | — | 3.38% |
| CVX | Chevron Corporation | 1.84% | 21.2 | 15.2 | 2.1 | 3.16% | 2.07% |
| AMZN | Amazon.com, Inc. | 1.80% | 20.1 | 23.6 | 3.5 | — | 2.13% |
| GOOGL | Alphabet Inc. | 1.63% | 17.1 | 22.8 | 9.3 | 0.26% | 2.28% |
| JPM | JPMorgan Chase & Co. | 1.54% | 14.2 | 13.5 | 4.7 | 1.94% | 2.58% |
| UNH | UnitedHealth Group Incorporated | 1.53% | 25.8 | 16.6 | 0.8 | 2.31% | 1.42% |
| META | Meta Platforms, Inc. | 1.53% | 26.7 | 22.1 | 7.9 | 0.30% | 1.37% |
| GOOG | Alphabet Inc. | 1.23% | 16.9 | 21.8 | 9.2 | 0.26% | 1.74% |
| WMT | Walmart Inc. | 1.05% | 43.0 | 38.0 | 1.3 | 0.83% | 0.58% |
| JNJ | Johnson & Johnson | 0.97% | 38.8 | 21.0 | 6.2 | 2.10% | 0.60% |
| VLO | Valero Energy Corporation | 0.89% | 18.5 | 10.2 | 1.0 | 1.08% | 1.15% |
| VZ | Verizon Communications Inc. | 0.88% | 11.7 | 8.7 | 1.3 | 6.32% | 1.81% |
| COP | ConocoPhillips | 0.85% | 19.4 | 12.7 | 2.7 | 2.29% | 1.04% |
| MPC | Marathon Petroleum Corporation | 0.85% | 16.6 | 5.5 | 0.9 | 0.84% | 1.22% |
| PFE | Pfizer Inc. | 0.82% | 38.9 | 9.7 | 2.6 | 5.81% | 0.50% |
| PG | The Procter & Gamble Company | 0.81% | 24.1 | 21.2 | 4.3 | 2.73% | 0.81% |
| INTC | Intel Corporation | 0.80% | — | 63.3 | 8.3 | — | −0.45% |
| BAC | Bank of America Corporation | 0.77% | 12.2 | 10.8 | 3.1 | 2.50% | 1.51% |
| T | AT&T Inc. | 0.75% | 7.7 | 9.9 | 1.3 | 4.74% | 2.32% |
| ABBV | AbbVie Inc. | 0.72% | 80.6 | 16.4 | 7.8 | 2.42% | 0.21% |
| NVDA | NVIDIA Corporation | 0.71% | 27.1 | 24.9 | 17.1 | 0.47% | 0.63% |
| WFC | Wells Fargo & Company | 0.71% | 11.8 | 10.2 | 3.0 | 2.38% | 1.43% |
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 FNDX valuation
Adding up its 714 holdings with company data, FNDX trades at 23.7 times trailing earnings and 14.6 times analysts' forward estimates, with a price-to-book ratio of 2.97 and a dividend yield of 1.80%. Its earnings yield of 4.22% is 1.10 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 22.6% of the fund and earn 23.6% of its combined profit. By sector, Healthcare is the most expensive at 43.4 times earnings and Financial Services the cheapest at 13.6. Companies that lost money over the past year are 5.1% 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 99.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FNDX chart, FNDX performance, FNDX holdings, FNDX dividends.
FNDX valuation FAQ
What is the P/E ratio of FNDX?
Based on its holdings, FNDX has a trailing P/E of 23.7 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 FNDX?
The trailing earnings yield is 4.22% (1 ÷ P/E) and the forward earnings yield 6.83%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FNDX more expensive than the S&P 500?
FNDX trades at 23.7 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 FNDX?
The holdings of FNDX trade at 2.97 times book value, with a combined return on equity of 12.6%.
Which sector in FNDX has the highest P/E?
Healthcare has the highest P/E at 43.4 and Financial Services the lowest at 13.6.