First Trust Energy AlphaDEX Fund (FXN) Valuation
FXN valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 15.1 trailing earnings
- Forward P/E
- 10.4 analyst estimates
- Price / sales
- 1.73
- Price / book
- 1.91
- EV / EBITDA
- 6.5
- Earnings yield
- 6.63% inverse of P/E
- Dividend yield
- 1.77% of the holdings
- Return on equity
- 12.7% combined
- Net margin
- 11.5% combined
- Beta
- 0.66 weighted, vs S&P 500
FXN valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FXN | 15.1 | 10.4 | 1.73 | 1.91 | 1.77% | 12.7% | 11.5% | 0.6% |
| 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.
FXN valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 91.4% | 14.9 | 10.4 | 1.67 | 1.87 | 1.92% | 12.5% |
| Technology | 5.9% | 13.5 | 10.4 | 3.38 | 2.55 | 0.00% | 18.9% |
| Utilities | 0.7% | 54.5 | 18.7 | 1.53 | 10.37 | 0.00% | 19.0% |
| Industrials | 0.6% | n/m | — | 28.02 | 2.60 | 0.00% | −13.3% |
FXN 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 FXN weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FXN largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MPC | Marathon Petroleum Corporation | 4.71% | 16.6 | 5.5 | 0.9 | 0.84% | 4.52% |
| AR | Antero Resources Corporation | 4.45% | 11.1 | 9.0 | 2.1 | — | 6.36% |
| PSX | Phillips 66 | 4.40% | 16.8 | 9.7 | 0.8 | 1.81% | 4.17% |
| RRC | Range Resources Corporation | 4.36% | 11.9 | 10.0 | 3.1 | 0.93% | 5.81% |
| CHRD | Chord Energy Corporation | 4.27% | 10.4 | — | 1.4 | 3.36% | 6.53% |
| VLO | Valero Energy Corporation | 4.01% | 18.5 | 10.2 | 1.0 | 1.08% | 3.44% |
| EXE | Expand Energy Corporation | 3.94% | 8.1 | 9.6 | 1.8 | 2.46% | 7.78% |
| YZ8 | Permian Resources Corporation | 3.71% | — | — | — | — | — |
| FSLR | First Solar, Inc. | 3.59% | 10.6 | 8.3 | 3.4 | — | 5.35% |
| APA | APA Corporation | 3.57% | 10.4 | 9.4 | 2.0 | 2.03% | 5.45% |
| EOG | EOG Resources, Inc. | 3.55% | 12.3 | 10.1 | 3.1 | 2.58% | 4.59% |
| OVV | Ovintiv Inc. | 3.54% | 19.3 | 9.0 | 2.0 | 1.73% | 2.91% |
| DINO | HF Sinclair Corporation | 3.49% | 11.9 | 10.0 | 0.7 | 1.68% | 4.65% |
| DVN | Devon Energy Corporation | 3.41% | 11.1 | 9.3 | 3.0 | 2.52% | 4.90% |
| EQT | EQT Corporation | 3.40% | 12.6 | 14.1 | 3.7 | 1.25% | 4.29% |
| MTDR | Matador Resources Company | 3.39% | 9.9 | 5.5 | 1.9 | 2.61% | 5.47% |
| OXY | Occidental Petroleum Corporation | 2.69% | 17.7 | 14.6 | 2.6 | 1.80% | 2.41% |
| COP | ConocoPhillips | 2.64% | 19.4 | 12.7 | 2.7 | 2.29% | 2.16% |
| CVX | Chevron Corporation | 2.50% | 21.2 | 15.2 | 2.1 | 3.16% | 1.87% |
| FANG | Diamondback Energy, Inc. | 2.44% | 38.8 | 10.0 | 3.5 | 2.16% | 1.00% |
| XOM | Exxon Mobil Corporation | 2.37% | 23.0 | 14.8 | 2.0 | 2.30% | 1.64% |
| WFRD | Weatherford International plc | 2.36% | 15.0 | 11.1 | 1.1 | 1.44% | 2.49% |
| HAL | Halliburton Company | 2.34% | 17.6 | 11.4 | 1.2 | 2.03% | 2.11% |
| FTI | TechnipFMC plc | 2.28% | 24.3 | 21.3 | 2.6 | 0.29% | 1.49% |
| VNOM | Viper Energy Partners LP | 1.78% | — | 13.7 | 8.4 | 5.44% | 0.01% |
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 FXN valuation
Adding up its 38 holdings with company data, FXN trades at 15.1 times trailing earnings and 10.4 times analysts' forward estimates, with a price-to-book ratio of 1.91 and a dividend yield of 1.77%. Its earnings yield of 6.63% is 1.31 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 41.0% of the fund and earn 54.0% of its combined profit. By sector, Utilities is the most expensive at 54.5 times earnings and Technology the cheapest at 13.5. Companies that lost money over the past year are 0.6% 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 96.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FXN chart, FXN performance, FXN holdings, FXN dividends.
FXN valuation FAQ
What is the P/E ratio of FXN?
Based on its holdings, FXN has a trailing P/E of 15.1 and a forward P/E of 10.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FXN?
The trailing earnings yield is 6.63% (1 ÷ P/E) and the forward earnings yield 9.59%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FXN more expensive than the S&P 500?
FXN trades at 15.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.4 and 19.9.
What is the price-to-book ratio of FXN?
The holdings of FXN trade at 1.91 times book value, with a combined return on equity of 12.7%.
Which sector in FXN has the highest P/E?
Utilities has the highest P/E at 54.5 and Technology the lowest at 13.5.