Franklin Small Cap Enhanced ETF (FSML) Valuation
FSML valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.6 trailing earnings
- Forward P/E
- 13.1 analyst estimates
- Price / sales
- 1.10
- Price / book
- 2.27
- EV / EBITDA
- 5.9
- Earnings yield
- 4.07% inverse of P/E
- Dividend yield
- 1.10% of the holdings
- Return on equity
- 9.2% combined
- Net margin
- 4.5% combined
- Beta
- 1.21 weighted, vs S&P 500
FSML valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FSML | 24.6 | 13.1 | 1.10 | 2.27 | 1.10% | 9.2% | 4.5% | 18.2% |
| 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.
FSML valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 19.4% | 11.2 | 10.3 | 2.23 | 1.38 | 1.91% | 12.3% |
| Healthcare | 18.5% | n/m | 22.7 | 2.99 | 6.01 | 0.00% | −9.1% |
| Technology | 15.3% | 28.2 | 15.1 | 1.41 | 3.27 | 0.30% | 11.6% |
| Industrials | 10.9% | 34.5 | 14.8 | 0.84 | 2.55 | 0.63% | 7.4% |
| Consumer Cyclical | 8.6% | 17.2 | 12.2 | 0.45 | 1.48 | 1.71% | 8.6% |
| Energy | 6.4% | 13.6 | 12.0 | 1.14 | 2.13 | 0.34% | 15.7% |
| Real Estate | 6.2% | 15.3 | 17.3 | 1.78 | 2.19 | 3.99% | 14.3% |
| Basic Materials | 5.4% | 87.1 | 8.1 | 0.46 | 1.54 | 1.58% | 1.8% |
| Consumer Defensive | 2.4% | 14.8 | 7.2 | 0.49 | 5.36 | 0.53% | 36.3% |
| Communication Services | 2.0% | n/m | 10.9 | 1.18 | 4.15 | 0.30% | −0.5% |
| Utilities | 1.7% | 25.4 | 19.6 | 2.70 | 2.30 | 2.43% | 9.1% |
FSML 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 FSML weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FSML largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| BOX | Box, Inc. | 1.56% | 57.3 | 17.6 | 4.4 | — | 0.74% |
| JXN | Jackson Financial Inc. | 1.31% | 143.5 | — | 1.4 | 2.76% | 0.25% |
| HNGE | Hinge Health, Inc. | 1.28% | 32.7 | 33.0 | 11.1 | — | 1.06% |
| TDC | Teradata Corporation | 1.28% | 6.4 | 9.6 | 1.7 | — | 5.42% |
| VLY | Valley National Bancorp | 1.26% | 10.7 | 8.4 | 3.5 | 3.48% | 3.18% |
| IDT | IDT Corporation | 1.26% | 23.3 | 12.0 | 1.5 | 0.35% | 1.45% |
| KSS | Kohl's Corporation | 1.25% | 9.6 | 8.5 | 0.2 | 2.32% | 3.50% |
| EXPO | Exponent, Inc. | 1.24% | 32.2 | 31.5 | 6.0 | 1.71% | 1.03% |
| CMC | Commercial Metals Company | 1.17% | 11.1 | 10.4 | 0.8 | 1.23% | 2.86% |
| BFH | Bread Financial Holdings, Inc. | 1.15% | 8.0 | 7.6 | 1.5 | 0.90% | 3.91% |
| TCBI | Texas Capital Bancshares, Inc. | 1.14% | 12.0 | 11.1 | 3.1 | 0.88% | 2.57% |
| MCY | Mercury General Corporation | 1.11% | 6.1 | 19.8 | 0.9 | 1.24% | 4.94% |
| BSIG | Brightsphere Investment Group Inc | 1.11% | — | — | — | — | — |
| CUBI | Customers Bancorp, Inc. | 1.10% | 9.1 | 8.3 | 3.1 | — | 3.28% |
| CNR | Core Natural Resources, Inc. | 1.09% | 45.6 | 8.9 | 1.1 | 0.44% | 0.64% |
| TBBK | The Bancorp, Inc. | 1.08% | 9.3 | 14.6 | 3.8 | — | 3.13% |
| GPOR | Gulfport Energy Corporation | 1.06% | 6.6 | 6.8 | 2.2 | — | 4.35% |
| AX | Axos Financial, Inc. | 1.04% | 10.4 | 9.6 | 3.6 | — | 2.70% |
| BKU | BankUnited, Inc. | 1.04% | 11.5 | 9.8 | 2.9 | 3.15% | 2.43% |
| IBOC | International Bancshares Corporation | 1.04% | 10.2 | 9.8 | 5.0 | 2.17% | 2.75% |
| HLF | Herbalife Nutrition Ltd. | 1.03% | 9.3 | 3.9 | 0.3 | — | 3.00% |
| ALX | Alexander's, Inc. | 1.00% | 7.1 | 35.6 | 5.6 | 7.70% | 3.84% |
| TPC | Tutor Perini Corporation | 0.99% | 33.5 | 12.9 | 0.7 | 0.46% | 0.80% |
| BJRI | BJ's Restaurants, Inc. | 0.99% | 31.8 | 23.8 | 0.9 | — | 0.84% |
| AWR | American States Water Company | 0.98% | 22.9 | 22.1 | 4.7 | 2.61% | 1.16% |
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 FSML valuation
Adding up its 275 holdings with company data, FSML trades at 24.6 times trailing earnings and 13.1 times analysts' forward estimates, with a price-to-book ratio of 2.27 and a dividend yield of 1.10%. Its earnings yield of 4.07% is 1.26 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 12.8% of the fund and earn 23.4% of its combined profit. By sector, Basic Materials is the most expensive at 87.1 times earnings and Financial Services the cheapest at 11.2. Companies that lost money over the past year are 18.2% 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 93.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FSML chart, FSML holdings, FSML dividends.
FSML valuation FAQ
What is the P/E ratio of FSML?
Based on its holdings, FSML has a trailing P/E of 24.6 and a forward P/E of 13.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FSML?
The trailing earnings yield is 4.07% (1 ÷ P/E) and the forward earnings yield 7.66%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FSML more expensive than the S&P 500?
FSML trades at 24.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.1 and 19.9.
What is the price-to-book ratio of FSML?
The holdings of FSML trade at 2.27 times book value, with a combined return on equity of 9.2%.
Which sector in FSML has the highest P/E?
Basic Materials has the highest P/E at 87.1 and Financial Services the lowest at 11.2.