First Trust Materials AlphaDEX Fund (FXZ) Valuation
FXZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 32.6 trailing earnings
- Forward P/E
- 14.2 analyst estimates
- Price / sales
- 1.39
- Price / book
- 2.61
- EV / EBITDA
- 11.6
- Earnings yield
- 3.07% inverse of P/E
- Dividend yield
- 1.88% of the holdings
- Return on equity
- 8.0% combined
- Net margin
- 4.3% combined
- Beta
- 1.07 weighted, vs S&P 500
FXZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FXZ | 32.6 | 14.2 | 1.39 | 2.61 | 1.88% | 8.0% | 4.3% | 15.4% |
| 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.
FXZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Basic Materials | 82.9% | 32.1 | 13.4 | 1.28 | 2.41 | 1.97% | 7.5% |
| Industrials | 13.0% | 28.5 | 22.2 | 3.33 | 4.63 | 1.08% | 16.2% |
| Consumer Cyclical | 3.7% | 183.9 | 14.3 | 1.19 | 3.20 | 3.00% | 1.7% |
FXZ 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 FXZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FXZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| STLD | Steel Dynamics, Inc. | 5.25% | 21.8 | 10.0 | 1.7 | 0.88% | 8.44% |
| CF | CF Industries Holdings, Inc. | 5.09% | 9.0 | 12.2 | 2.4 | 1.99% | 19.88% |
| NEM | Newmont Corporation | 5.07% | 15.0 | 11.6 | 4.8 | 0.88% | 11.87% |
| ORA | Aura Minerals Inc | 4.91% | — | — | — | — | — |
| AA | Alcoa Corporation | 4.47% | 7.2 | 8.0 | 0.8 | 0.97% | 21.73% |
| AU | AngloGold Ashanti Limited | 4.45% | 12.4 | 14.5 | 4.0 | 4.87% | 12.54% |
| SCCO | Southern Copper Corporation | 4.36% | 29.9 | 28.1 | 10.7 | 2.19% | 5.10% |
| NUE | Nucor Corporation | 3.93% | 20.4 | 11.4 | 1.6 | 0.87% | 6.74% |
| OLN | Olin Corporation | 3.40% | — | 25.8 | 0.3 | 5.11% | −13.19% |
| EMN | Eastman Chemical Company | 3.29% | 16.3 | 9.2 | 0.8 | 5.39% | 7.08% |
| NEU | NewMarket Corporation | 3.28% | 18.9 | 22.5 | 2.9 | 1.37% | 6.10% |
| MLI | Mueller Industries, Inc. | 3.17% | 15.6 | 18.2 | 2.9 | 1.17% | 7.11% |
| AVY | Avery Dennison Corporation | 2.84% | 19.2 | 15.3 | 1.4 | 2.28% | 5.18% |
| FAST | Fastenal Company | 2.83% | 41.5 | 37.5 | 6.4 | 2.04% | 2.39% |
| RS | Reliance Steel & Aluminum Co. | 2.77% | 23.9 | 16.4 | 1.3 | 1.22% | 4.06% |
| CDE | Coeur Mining, Inc. | 2.75% | 13.2 | 8.7 | 5.0 | 0.26% | 7.28% |
| HL | Hecla Mining Company | 2.71% | 19.9 | 21.0 | 5.9 | 0.10% | 4.78% |
| LIN | Linde plc | 2.68% | 32.2 | 23.6 | 6.5 | 1.28% | 2.91% |
| MOS | The Mosaic Company | 2.63% | — | 9.4 | 0.5 | 4.68% | −9.84% |
| RGLD | Royal Gold, Inc. | 2.57% | 26.4 | 24.2 | 13.1 | 0.80% | 3.41% |
| TKR | The Timken Company | 2.37% | 30.5 | 15.4 | 1.6 | 1.28% | 2.72% |
| ALB | Albemarle Corporation | 2.16% | 353.6 | 11.4 | 1.9 | 1.72% | 0.21% |
| CLF | Cleveland-Cliffs Inc. | 2.11% | — | 16.0 | 0.4 | — | −9.82% |
| IFF | International Flavors & Fragrances Inc. | 1.96% | 89.8 | 17.7 | 2.1 | 1.76% | 0.76% |
| LYB | LyondellBasell Industries N.V. | 1.91% | — | 9.1 | 0.7 | 4.31% | −0.87% |
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 FXZ valuation
Adding up its 37 holdings with company data, FXZ trades at 32.6 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 2.61 and a dividend yield of 1.88%. Its earnings yield of 3.07% is 2.26 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 44.2% of the fund and earn 86.3% of its combined profit. By sector, Consumer Cyclical is the most expensive at 183.9 times earnings and Industrials the cheapest at 28.5. Companies that lost money over the past year are 15.4% 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 93.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FXZ chart, FXZ performance, FXZ holdings, FXZ dividends.
FXZ valuation FAQ
What is the P/E ratio of FXZ?
Based on its holdings, FXZ has a trailing P/E of 32.6 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 FXZ?
The trailing earnings yield is 3.07% (1 ÷ P/E) and the forward earnings yield 7.03%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FXZ more expensive than the S&P 500?
FXZ trades at 32.6 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 FXZ?
The holdings of FXZ trade at 2.61 times book value, with a combined return on equity of 8.0%.
Which sector in FXZ has the highest P/E?
Consumer Cyclical has the highest P/E at 183.9 and Industrials the lowest at 28.5.