Fidelity MSCI Information Technology ETF (FTEC) Valuation
FTEC valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 37.6 trailing earnings
- Forward P/E
- 22.9 analyst estimates
- Price / sales
- 7.09
- Price / book
- 10.72
- EV / EBITDA
- 24.1
- Earnings yield
- 2.66% inverse of P/E
- Dividend yield
- 0.50% of the holdings
- Return on equity
- 28.5% combined
- Net margin
- 18.9% combined
- Beta
- 1.54 weighted, vs S&P 500
FTEC valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FTEC | 37.6 | 22.9 | 7.09 | 10.72 | 0.50% | 28.5% | 18.9% | 5.6% |
| 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.
FTEC valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 99.8% | 36.1 | 22.9 | 7.12 | 10.81 | 0.50% | 29.9% |
| Financial Services | 0.4% | n/m | 44.1 | 7.07 | 5.55 | 0.00% | −250.4% |
| Industrials | 0.3% | 36.9 | 14.4 | 3.24 | 3.03 | 0.97% | 8.2% |
| Consumer Cyclical | 0.1% | n/m | — | 1,946.03 | 6.49 | 0.00% | −52.4% |
| Communication Services | 0.0% | n/m | 20.2 | 0.70 | 14.99 | 0.00% | −422.0% |
| Information Technology | 0.0% | n/m | 45.0 | 20.20 | 2.74 | 0.00% | −2.7% |
| Basic Materials | 0.0% | n/m | — | 2,445.72 | 7.80 | 0.00% | −33.4% |
FTEC 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 FTEC weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FTEC largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 18.11% | 27.1 | 24.9 | 17.1 | 0.47% | 25.08% |
| AAPL | Apple Inc. | 17.55% | 39.4 | 35.2 | 10.7 | 0.31% | 16.71% |
| MSFT | Microsoft Corporation | 11.94% | 29.5 | 25.1 | 11.8 | 0.74% | 15.19% |
| AVGO | Broadcom Inc. | 4.07% | 43.3 | 19.4 | 17.6 | 0.79% | 3.52% |
| MU | Micron Technology, Inc. | 3.78% | 11.8 | 7.0 | 7.5 | 0.07% | 11.99% |
| AMD | Advanced Micro Devices, Inc. | 3.19% | 134.9 | 39.5 | 20.9 | — | 0.89% |
| PLTR | Palantir Technologies Inc. | 1.81% | 160.4 | 85.5 | 72.6 | — | 0.42% |
| CSCO | Cisco Systems, Inc. | 1.65% | 32.2 | 19.8 | 6.7 | 1.56% | 1.92% |
| INTC | Intel Corporation | 1.51% | — | 63.3 | 8.3 | — | −1.34% |
| PANW | Palo Alto Networks, Inc. | 1.20% | 855.0 | 94.3 | 24.4 | — | 0.05% |
| LRCX | Lam Research Corporation | 1.18% | 45.8 | 33.7 | 14.2 | 0.50% | 0.96% |
| AMAT | Applied Materials, Inc. | 1.15% | 35.3 | 23.4 | 10.5 | 0.52% | 1.22% |
| TXN | Texas Instruments Incorporated | 1.06% | 42.1 | 27.5 | 13.0 | 2.20% | 0.95% |
| CRWD | CrowdStrike Holdings, Inc. | 0.98% | — | 208.3 | 43.1 | — | 0.01% |
| IBM | International Business Machines Corporation | 0.97% | 20.6 | 17.4 | 3.2 | 2.91% | 1.77% |
| ORCL | Oracle Corporation | 0.85% | 20.1 | 17.8 | 5.4 | 1.56% | 1.59% |
| CRM | Salesforce, Inc. | 0.84% | 22.0 | 14.0 | 4.5 | 0.73% | 1.44% |
| MRVL | Marvell Technology, Inc. | 0.78% | 72.3 | 62.1 | 21.7 | 0.11% | 0.41% |
| APH | Amphenol Corporation | 0.77% | 39.7 | 24.6 | 6.7 | 0.63% | 0.73% |
| SNDK | Sandisk Corporation | 0.77% | 17.6 | 8.0 | 9.3 | — | 1.63% |
| QCOM | QUALCOMM Incorporated | 0.76% | 19.9 | 19.6 | 4.2 | 2.14% | 1.43% |
| KLAC | KLA Corporation | 0.75% | 45.3 | 34.8 | 15.9 | 0.56% | 0.62% |
| ADI | Analog Devices, Inc. | 0.75% | 47.0 | 23.2 | 13.8 | 1.11% | 0.60% |
| ANET | Arista Networks, Inc. | 0.73% | 55.8 | 39.2 | 21.2 | — | 0.49% |
| NOW | ServiceNow, Inc. | 0.67% | 88.7 | 27.8 | 10.0 | — | 0.28% |
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 FTEC valuation
Adding up its 275 holdings with company data, FTEC trades at 37.6 times trailing earnings and 22.9 times analysts' forward estimates, with a price-to-book ratio of 10.72 and a dividend yield of 0.50%. Its earnings yield of 2.66% is 2.67 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 64.8% of the fund and earn 74.4% of its combined profit. By sector, Industrials is the most expensive at 36.9 times earnings and Technology the cheapest at 36.1. Companies that lost money over the past year are 5.6% 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 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FTEC chart, FTEC performance, FTEC holdings, FTEC dividends.
FTEC valuation FAQ
What is the P/E ratio of FTEC?
Based on its holdings, FTEC has a trailing P/E of 37.6 and a forward P/E of 22.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FTEC?
The trailing earnings yield is 2.66% (1 ÷ P/E) and the forward earnings yield 4.36%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FTEC more expensive than the S&P 500?
FTEC trades at 37.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.9 and 19.9.
What is the price-to-book ratio of FTEC?
The holdings of FTEC trade at 10.72 times book value, with a combined return on equity of 28.5%.
Which sector in FTEC has the highest P/E?
Industrials has the highest P/E at 36.9 and Technology the lowest at 36.1.