First Trust SMID Growth Strength ETF (FSGS) Valuation
FSGS valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 18.1 trailing earnings
- Forward P/E
- 16.3 analyst estimates
- Price / sales
- 2.41
- Price / book
- 3.70
- EV / EBITDA
- 14.7
- Earnings yield
- 5.51% inverse of P/E
- Dividend yield
- 0.93% of the holdings
- Return on equity
- 20.4% combined
- Net margin
- 13.3% combined
- Beta
- 1.05 weighted, vs S&P 500
FSGS valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FSGS | 18.1 | 16.3 | 2.41 | 3.70 | 0.93% | 20.4% | 13.3% | 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.
FSGS valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 25.6% | 30.7 | 20.9 | 4.14 | 7.11 | 0.14% | 23.1% |
| Financial Services | 20.4% | 11.6 | 12.6 | 2.27 | 2.13 | 1.54% | 18.3% |
| Healthcare | 20.1% | 19.2 | 18.2 | 2.17 | 3.90 | 0.21% | 20.3% |
| Industrials | 14.9% | 29.3 | 20.1 | 2.25 | 6.24 | 0.50% | 21.3% |
| Consumer Cyclical | 8.0% | 21.8 | 18.1 | 2.16 | 5.34 | 0.36% | 24.5% |
| Real Estate | 4.1% | 6.2 | 9.2 | 1.50 | 1.40 | 10.19% | 22.6% |
| Communication Services | 3.1% | 14.0 | 8.4 | 1.26 | 2.47 | 0.44% | 17.7% |
| Energy | 1.9% | 16.2 | 36.4 | 2.94 | 3.07 | 0.00% | 18.9% |
FSGS 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 FSGS weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FSGS largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EFX | Equifax Inc. | 1.17% | 28.4 | 16.1 | 2.9 | 1.39% | 0.80% |
| UPWK | Upwork Inc. | 1.15% | 10.9 | 5.5 | 1.3 | — | 2.05% |
| DOCU | DocuSign, Inc. | 1.14% | 45.5 | 15.1 | 4.2 | — | 0.49% |
| UTHR | United Therapeutics Corporation | 1.12% | 19.1 | 16.4 | 7.2 | — | 1.15% |
| QTWO | Q2 Holdings, Inc. | 1.10% | 43.9 | 18.0 | 4.6 | — | 0.49% |
| MORN | Morningstar, Inc. | 1.10% | 19.7 | 19.8 | 3.0 | 0.96% | 1.08% |
| PATH | UiPath Inc. | 1.10% | 19.2 | 16.7 | 3.9 | — | 1.11% |
| AGYS | Agilysys, Inc. | 1.09% | 72.3 | 45.7 | 9.4 | — | 0.29% |
| PAY_old | Verifone Inc | 1.09% | — | — | — | — | — |
| FIGS | FIGS, Inc. | 1.09% | 57.9 | 31.5 | 4.5 | — | 0.37% |
| PCTY | Paylocity Holding Corporation | 1.09% | 33.8 | 15.4 | 5.2 | — | 0.63% |
| ESTC | Elastic N.V. | 1.09% | 26.2 | 27.4 | 5.3 | — | 0.81% |
| TW | Tradeweb Markets Inc. | 1.09% | 27.2 | 26.0 | 11.1 | 0.49% | 0.78% |
| TCBI | Texas Capital Bancshares, Inc. | 1.08% | 12.0 | 11.1 | 3.1 | 0.88% | 1.76% |
| FRSH | Freshworks Inc. | 1.08% | 21.8 | 15.7 | 4.0 | — | 0.96% |
| GWRE | Guidewire Software, Inc. | 1.08% | 103.6 | 34.8 | 9.4 | — | 0.20% |
| INOD | Innodata Inc. | 1.07% | 40.9 | 31.3 | 5.7 | — | 0.51% |
| PAYC | Paycom Software, Inc. | 1.07% | 26.6 | 16.7 | 5.3 | 0.60% | 0.78% |
| EXLS | ExlService Holdings, Inc. | 1.07% | 25.0 | 13.6 | 2.7 | — | 0.83% |
| APXT_old | Apex Treasury Corporation | 1.07% | — | — | — | — | — |
| MEDP | Medpace Holdings, Inc. | 1.06% | 36.3 | 31.9 | 6.2 | — | 0.57% |
| HLNE | Hamilton Lane Incorporated | 1.06% | 12.5 | 12.0 | 6.4 | 2.93% | 1.65% |
| ARLO | Arlo Technologies, Inc. | 1.06% | 43.4 | 13.8 | 2.2 | — | 0.47% |
| HQY | HealthEquity, Inc. | 1.06% | 33.2 | 19.7 | 5.6 | — | 0.62% |
| INCY | Incyte Corporation | 1.06% | 14.4 | 14.7 | 3.9 | — | 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 FSGS valuation
Adding up its 93 holdings with company data, FSGS trades at 18.1 times trailing earnings and 16.3 times analysts' forward estimates, with a price-to-book ratio of 3.70 and a dividend yield of 0.93%. Its earnings yield of 5.51% is 0.19 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 11.2% of the fund and earn 8.5% of its combined profit. By sector, Technology is the most expensive at 30.7 times earnings and Real Estate the cheapest at 6.2. 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 93.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FSGS chart, FSGS performance, FSGS holdings, FSGS dividends.
FSGS valuation FAQ
What is the P/E ratio of FSGS?
Based on its holdings, FSGS has a trailing P/E of 18.1 and a forward P/E of 16.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FSGS?
The trailing earnings yield is 5.51% (1 ÷ P/E) and the forward earnings yield 6.13%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FSGS more expensive than the S&P 500?
FSGS trades at 18.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.3 and 19.9.
What is the price-to-book ratio of FSGS?
The holdings of FSGS trade at 3.70 times book value, with a combined return on equity of 20.4%.
Which sector in FSGS has the highest P/E?
Technology has the highest P/E at 30.7 and Real Estate the lowest at 6.2.