First Trust Utilities AlphaDEX Fund (FXU) Valuation
FXU valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.2 trailing earnings
- Forward P/E
- 14.2 analyst estimates
- Price / sales
- 2.35
- Price / book
- 1.81
- EV / EBITDA
- 11.0
- Earnings yield
- 5.80% inverse of P/E
- Dividend yield
- 3.28% of the holdings
- Return on equity
- 10.5% combined
- Net margin
- 13.6% combined
- Beta
- 0.52 weighted, vs S&P 500
FXU valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FXU | 17.2 | 14.2 | 2.35 | 1.81 | 3.28% | 10.5% | 13.6% | 0.8% |
| 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.
FXU valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Utilities | 91.4% | 17.2 | 14.1 | 2.30 | 1.75 | 3.43% | 10.1% |
| Industrials | 5.1% | 35.9 | 29.4 | 3.08 | 5.99 | 0.58% | 16.7% |
| Energy | 3.9% | 11.1 | 9.8 | 3.02 | 1.90 | 2.78% | 17.1% |
FXU 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 FXU weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FXU largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EXC | Exelon Corporation | 4.41% | 16.0 | 13.7 | 1.8 | 3.86% | 4.77% |
| UGI | UGI Corporation | 4.32% | 12.8 | 7.7 | 1.1 | 3.90% | 5.86% |
| EIX | Edison International | 4.27% | 5.8 | 8.2 | 1.1 | 6.28% | 12.81% |
| DUK | Duke Energy Corporation | 4.25% | 18.3 | 15.9 | 2.9 | 3.57% | 4.02% |
| ED | Consolidated Edison, Inc. | 4.22% | 18.2 | 16.1 | 2.3 | 3.16% | 4.02% |
| ES | Eversource Energy | 3.95% | 17.3 | 13.3 | 1.8 | 4.71% | 3.94% |
| NFG | National Fuel Gas Company | 3.95% | 11.1 | 9.8 | 3.0 | 2.78% | 6.14% |
| PCG | PG&E Corporation | 3.93% | 9.5 | 6.9 | 1.5 | 1.53% | 7.17% |
| PNW | Pinnacle West Capital Corporation | 3.68% | 19.9 | 16.9 | 2.3 | 3.52% | 3.21% |
| XEL | Xcel Energy Inc. | 3.50% | 20.9 | 16.0 | 3.3 | 3.11% | 2.90% |
| ATO | Atmos Energy Corporation | 3.46% | 19.9 | 17.6 | 5.7 | 2.39% | 3.01% |
| PPL | PPL Corporation | 3.39% | 20.8 | 15.4 | 2.8 | 3.24% | 2.82% |
| AEE | Ameren Corporation | 3.33% | 18.7 | 17.5 | 3.5 | 2.83% | 3.09% |
| EVRG | Evergy, Inc. | 3.33% | 21.2 | 19.5 | 3.2 | 3.34% | 2.72% |
| MDU | MDU Resources Group, Inc. | 3.31% | 20.2 | 17.3 | 2.2 | 2.97% | 2.84% |
| OGE | OGE Energy Corp. | 3.16% | 20.9 | 17.2 | 3.0 | 3.61% | 2.61% |
| CMS | CMS Energy Corporation | 2.63% | 20.6 | 15.2 | 2.4 | 3.32% | 2.20% |
| CWEN | Clearway Energy, Inc. | 2.58% | 38.9 | 39.4 | 4.7 | 6.20% | 1.15% |
| DTE | DTE Energy Company | 2.52% | 20.6 | 15.6 | 1.6 | 3.59% | 2.12% |
| AEP | American Electric Power Company, Inc. | 2.52% | 22.0 | 17.2 | 3.0 | 2.99% | 1.98% |
| NI | NiSource Inc. | 2.49% | 22.7 | 17.4 | 3.0 | 2.81% | 1.90% |
| CLH | Clean Harbors, Inc. | 2.49% | 38.8 | 34.5 | 2.7 | — | 1.11% |
| LNT | Alliant Energy Corporation | 2.43% | 21.6 | 17.5 | 4.0 | 3.13% | 1.94% |
| PEG | Public Service Enterprise Group Incorporated | 2.37% | 17.8 | 15.0 | 2.8 | 3.75% | 2.31% |
| SO | The Southern Company | 1.78% | 22.0 | 17.0 | 3.5 | 3.33% | 1.40% |
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 FXU valuation
Adding up its 39 holdings with company data, FXU trades at 17.2 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 1.81 and a dividend yield of 3.28%. Its earnings yield of 5.80% is 0.47 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 40.5% of the fund and earn 54.8% of its combined profit. By sector, Industrials is the most expensive at 35.9 times earnings and Energy the cheapest at 11.1. Companies that lost money over the past year are 0.8% 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 99.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FXU chart, FXU performance, FXU holdings, FXU dividends.
FXU valuation FAQ
What is the P/E ratio of FXU?
Based on its holdings, FXU has a trailing P/E of 17.2 and a forward P/E of 14.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FXU?
The trailing earnings yield is 5.80% (1 ÷ P/E) and the forward earnings yield 7.04%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FXU more expensive than the S&P 500?
FXU trades at 17.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.2 and 19.9.
What is the price-to-book ratio of FXU?
The holdings of FXU trade at 1.81 times book value, with a combined return on equity of 10.5%.
Which sector in FXU has the highest P/E?
Industrials has the highest P/E at 35.9 and Energy the lowest at 11.1.