MicroSectors FANG+ ETN (FNGS) Valuation
FNGS valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.4 trailing earnings
- Forward P/E
- 20.4 analyst estimates
- Price / sales
- 9.02
- Price / book
- 10.84
- EV / EBITDA
- 17.9
- Earnings yield
- 3.93% inverse of P/E
- Dividend yield
- 0.30% of the holdings
- Return on equity
- 42.6% combined
- Net margin
- 35.5% combined
- Beta
- 1.50 weighted, vs S&P 500
FNGS valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FNGS | 25.4 | 20.4 | 9.02 | 10.84 | 0.30% | 42.6% | 35.5% | 0.0% |
| 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.
FNGS valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 61.3% | 29.3 | 19.7 | 13.76 | 17.45 | 0.40% | 59.6% |
| Communication Services | 29.3% | 21.4 | 21.1 | 7.54 | 7.80 | 0.19% | 36.4% |
| Consumer Cyclical | 9.6% | 20.1 | 23.6 | 3.48 | 4.87 | 0.00% | 24.2% |
FNGS 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 FNGS weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FNGS largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 10.97% | 29.5 | 25.1 | 11.8 | 0.74% | 9.44% |
| PLTR | Palantir Technologies Inc. | 10.87% | 160.4 | 85.5 | 72.6 | — | 1.72% |
| AAPL | Apple Inc. | 10.56% | 39.4 | 35.2 | 10.7 | 0.31% | 6.81% |
| META | Meta Platforms, Inc. | 10.41% | 26.7 | 22.1 | 7.9 | 0.30% | 9.89% |
| AVGO | Broadcom Inc. | 9.85% | 43.3 | 19.4 | 17.6 | 0.79% | 5.77% |
| AMZN | Amazon.com, Inc. | 9.61% | 20.1 | 23.6 | 3.5 | — | 12.12% |
| MU | Micron Technology, Inc. | 9.55% | 11.8 | 7.0 | 7.5 | 0.07% | 20.49% |
| NFLX | Netflix, Inc. | 9.53% | 22.2 | 18.7 | 6.1 | — | 10.90% |
| NVDA | NVIDIA Corporation | 9.51% | 27.1 | 24.9 | 17.1 | 0.47% | 8.92% |
| GOOGL | Alphabet Inc. | 9.38% | 17.1 | 22.8 | 9.3 | 0.26% | 13.93% |
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 FNGS valuation
Adding up its 10 holdings with company data, FNGS trades at 25.4 times trailing earnings and 20.4 times analysts' forward estimates, with a price-to-book ratio of 10.84 and a dividend yield of 0.30%. Its earnings yield of 3.93% is 1.40 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 100.3% of the fund and earn 100.0% of its combined profit. By sector, Technology is the most expensive at 29.3 times earnings and Consumer Cyclical the cheapest at 20.1. Companies that lost money over the past year are 0.0% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FNGS chart, FNGS performance, FNGS holdings.
FNGS valuation FAQ
What is the P/E ratio of FNGS?
Based on its holdings, FNGS has a trailing P/E of 25.4 and a forward P/E of 20.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FNGS?
The trailing earnings yield is 3.93% (1 ÷ P/E) and the forward earnings yield 4.90%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FNGS more expensive than the S&P 500?
FNGS trades at 25.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.4 and 19.9.
What is the price-to-book ratio of FNGS?
The holdings of FNGS trade at 10.84 times book value, with a combined return on equity of 42.6%.
Which sector in FNGS has the highest P/E?
Technology has the highest P/E at 29.3 and Consumer Cyclical the lowest at 20.1.