First Trust Nasdaq Bank ETF (FTXO) Valuation
FTXO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 12.0 trailing earnings
- Forward P/E
- 10.6 analyst estimates
- Price / sales
- 3.42
- Price / book
- 1.35
- EV / EBITDA
- —
- Earnings yield
- 8.34% inverse of P/E
- Dividend yield
- 2.71% of the holdings
- Return on equity
- 11.3% combined
- Net margin
- 28.5% combined
- Beta
- 0.93 weighted, vs S&P 500
FTXO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FTXO | 12.0 | 10.6 | 3.42 | 1.35 | 2.71% | 11.3% | 28.5% | 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.
FTXO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 99.1% | 12.0 | 10.6 | 3.42 | 1.35 | 2.71% | 11.3% |
FTXO 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 FTXO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FTXO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WFC | Wells Fargo & Company | 7.84% | 11.8 | 10.2 | 3.0 | 2.38% | 8.06% |
| USB | U.S. Bancorp | 7.84% | 11.4 | 10.4 | 3.3 | 3.68% | 8.34% |
| JPM | JPMorgan Chase & Co. | 7.60% | 14.2 | 13.5 | 4.7 | 1.94% | 6.49% |
| C | Citigroup Inc. | 7.31% | 12.1 | 10.2 | 2.5 | 2.16% | 7.34% |
| BAC | Bank of America Corporation | 6.76% | 12.2 | 10.8 | 3.1 | 2.50% | 6.72% |
| PNC | The PNC Financial Services Group, Inc. | 4.04% | 11.6 | 10.7 | 3.5 | 3.68% | 4.24% |
| FCNCA | First Citizens BancShares, Inc. | 4.00% | 11.4 | 10.8 | 2.6 | 0.40% | 4.28% |
| CFG | Citizens Financial Group, Inc. | 3.98% | 13.8 | 9.9 | 3.3 | 2.90% | 3.50% |
| MTB | M&T Bank Corporation | 3.83% | 11.4 | 10.6 | 3.3 | 2.79% | 4.09% |
| FITB | Fifth Third Bancorp | 3.73% | 17.0 | 10.8 | 4.5 | 3.34% | 2.67% |
| RF | Regions Financial Corporation | 3.50% | 11.2 | 9.4 | 3.2 | 4.39% | 3.79% |
| KEY | KeyCorp | 3.36% | 11.6 | 9.9 | 2.9 | 4.10% | 3.52% |
| EWBC | East West Bancorp, Inc. | 1.88% | 12.2 | 12.7 | 6.0 | 2.52% | 1.87% |
| SSB | SouthState Corporation | 1.82% | 10.7 | 10.3 | 3.7 | 2.59% | 2.07% |
| FHN | First Horizon Corporation | 1.71% | 16.6 | 10.0 | 3.6 | 2.97% | 1.26% |
| ONB | Old National Bancorp | 1.57% | 11.1 | 8.4 | 3.6 | 2.32% | 1.73% |
| VLY | Valley National Bancorp | 1.50% | 10.7 | 8.4 | 3.5 | 3.48% | 1.70% |
| ZION | Zions Bancorporation, NA | 1.47% | 8.1 | 9.1 | 2.5 | 3.03% | 2.22% |
| UMBF | UMB Financial Corporation | 1.44% | 10.9 | 9.6 | 3.5 | 1.53% | 1.60% |
| PB | Prosperity Bancshares, Inc. | 1.43% | 11.7 | 9.3 | 5.9 | 3.54% | 1.49% |
| WTFC | Wintrust Financial Corporation | 1.36% | 11.6 | 10.9 | 3.5 | 1.53% | 1.43% |
| OZK | Bank OZK | 1.20% | 7.6 | 7.6 | 3.2 | 4.25% | 1.92% |
| BPOP | Popular, Inc. | 1.20% | 10.7 | 9.7 | 3.3 | 2.27% | 1.35% |
| BOKF | BOK Financial Corporation | 1.12% | 11.8 | 12.1 | 3.3 | 2.02% | 1.15% |
| UBSI | United Bankshares, Inc. | 1.09% | 12.7 | 13.6 | 5.1 | 3.26% | 1.05% |
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 FTXO valuation
Adding up its 49 holdings with company data, FTXO trades at 12.0 times trailing earnings and 10.6 times analysts' forward estimates, with a price-to-book ratio of 1.35 and a dividend yield of 2.71%. Its earnings yield of 8.34% is 3.02 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 56.9% of the fund and earn 55.7% of its combined profit. 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 99.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FTXO chart, FTXO performance, FTXO holdings, FTXO dividends.
FTXO valuation FAQ
What is the P/E ratio of FTXO?
Based on its holdings, FTXO has a trailing P/E of 12.0 and a forward P/E of 10.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FTXO?
The trailing earnings yield is 8.34% (1 ÷ P/E) and the forward earnings yield 9.44%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FTXO more expensive than the S&P 500?
FTXO trades at 12.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.6 and 19.9.
What is the price-to-book ratio of FTXO?
The holdings of FTXO trade at 1.35 times book value, with a combined return on equity of 11.3%.