Fidelity Value Factor ETF (FVAL) Valuation
FVAL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.5 trailing earnings
- Forward P/E
- 14.7 analyst estimates
- Price / sales
- 2.08
- Price / book
- 3.42
- EV / EBITDA
- 13.3
- Earnings yield
- 5.13% inverse of P/E
- Dividend yield
- 1.40% of the holdings
- Return on equity
- 17.5% combined
- Net margin
- 10.7% combined
- Beta
- 1.06 weighted, vs S&P 500
FVAL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FVAL | 19.5 | 14.7 | 2.08 | 3.42 | 1.40% | 17.5% | 10.7% | 2.3% |
| 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.
FVAL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 35.8% | 21.7 | 16.3 | 3.54 | 5.88 | 0.78% | 27.0% |
| Financial Services | 11.8% | 10.7 | 10.3 | 1.95 | 1.47 | 1.67% | 13.7% |
| Healthcare | 9.8% | 40.8 | 13.9 | 1.23 | 4.06 | 1.96% | 9.9% |
| Consumer Cyclical | 8.6% | 23.4 | 18.6 | 1.83 | 5.06 | 0.96% | 21.6% |
| Communication Services | 8.4% | 16.9 | 17.4 | 3.92 | 4.48 | 0.73% | 26.5% |
| Industrials | 7.0% | 19.5 | 14.9 | 1.30 | 3.60 | 1.80% | 18.5% |
| Consumer Defensive | 4.4% | 42.6 | 14.7 | 0.91 | 3.37 | 3.03% | 7.9% |
| Energy | 3.9% | 16.4 | 12.4 | 2.07 | 2.05 | 2.36% | 12.5% |
| Basic Materials | 2.3% | 18.1 | 11.7 | 1.67 | 2.78 | 1.79% | 15.4% |
| Real Estate | 1.7% | 18.9 | 18.1 | 3.02 | 2.21 | 4.35% | 11.7% |
| Utilities | 1.6% | 13.6 | 12.8 | 2.17 | 1.59 | 3.66% | 11.7% |
FVAL 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 FVAL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FVAL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 7.57% | 27.1 | 24.9 | 17.1 | 0.47% | 5.73% |
| AAPL | Apple Inc. | 7.47% | 39.4 | 35.2 | 10.7 | 0.31% | 3.89% |
| MSFT | Microsoft Corporation | 5.66% | 29.5 | 25.1 | 11.8 | 0.74% | 3.94% |
| GOOGL | Alphabet Inc. | 4.68% | 17.1 | 22.8 | 9.3 | 0.26% | 5.62% |
| AMZN | Amazon.com, Inc. | 3.46% | 20.1 | 23.6 | 3.5 | — | 3.53% |
| AVGO | Broadcom Inc. | 2.59% | 43.3 | 19.4 | 17.6 | 0.79% | 1.22% |
| META | Meta Platforms, Inc. | 2.11% | 26.7 | 22.1 | 7.9 | 0.30% | 1.62% |
| MU | Micron Technology, Inc. | 2.08% | 11.8 | 7.0 | 7.5 | 0.07% | 3.61% |
| BRK.B | Berkshire Hathaway Inc. | 1.97% | 13.4 | 22.7 | 3.0 | — | 3.02% |
| LLY | Eli Lilly and Company | 1.76% | 42.2 | 24.4 | 14.1 | 0.55% | 0.85% |
| TSLA | Tesla, Inc. | 1.56% | 328.4 | 158.7 | 13.5 | — | 0.10% |
| V | Visa Inc. | 1.52% | 34.3 | 24.0 | 17.0 | 0.67% | 0.91% |
| ACN | Accenture plc | 1.42% | 16.9 | 12.4 | 1.9 | 2.98% | 1.71% |
| JNJ | Johnson & Johnson | 1.23% | 38.8 | 21.0 | 6.2 | 2.10% | 0.65% |
| ABBV | AbbVie Inc. | 1.17% | 80.6 | 16.4 | 7.8 | 2.42% | 0.30% |
| XOM | Exxon Mobil Corporation | 1.16% | 23.0 | 14.8 | 2.0 | 2.30% | 1.03% |
| QCOM | QUALCOMM Incorporated | 1.11% | 19.9 | 19.6 | 4.2 | 2.14% | 1.14% |
| CTSH | Cognizant Technology Solutions Corporation | 1.04% | 14.2 | 9.4 | 1.4 | 2.00% | 1.51% |
| SNDK | Sandisk Corporation | 1.01% | 17.6 | 8.0 | 9.3 | — | 1.18% |
| HPQ | HP Inc. | 1.00% | 11.5 | 9.9 | 0.5 | 4.00% | 1.79% |
| MRK | Merck & Co., Inc. | 0.95% | 115.8 | 15.3 | 5.4 | 2.33% | 0.17% |
| INTU | Intuit Inc. | 0.94% | 19.8 | 12.7 | 4.1 | 1.70% | 0.98% |
| ADBE | Adobe Inc. | 0.91% | 13.7 | 8.7 | 3.7 | — | 1.37% |
| PG | The Procter & Gamble Company | 0.88% | 24.1 | 21.2 | 4.3 | 2.73% | 0.75% |
| COST | Costco Wholesale Corporation | 0.87% | 47.6 | 40.3 | 1.4 | 0.59% | 0.37% |
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 FVAL valuation
Adding up its 130 holdings with company data, FVAL trades at 19.5 times trailing earnings and 14.7 times analysts' forward estimates, with a price-to-book ratio of 3.42 and a dividend yield of 1.40%. Its earnings yield of 5.13% is 0.20 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 39.3% of the fund and earn 33.0% of its combined profit. By sector, Consumer Defensive is the most expensive at 42.6 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 2.3% 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 99.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FVAL chart, FVAL performance, FVAL holdings, FVAL dividends.
FVAL valuation FAQ
What is the P/E ratio of FVAL?
Based on its holdings, FVAL has a trailing P/E of 19.5 and a forward P/E of 14.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FVAL?
The trailing earnings yield is 5.13% (1 ÷ P/E) and the forward earnings yield 6.80%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FVAL more expensive than the S&P 500?
FVAL trades at 19.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.7 and 19.9.
What is the price-to-book ratio of FVAL?
The holdings of FVAL trade at 3.42 times book value, with a combined return on equity of 17.5%.
Which sector in FVAL has the highest P/E?
Consumer Defensive has the highest P/E at 42.6 and Financial Services the lowest at 10.7.