Goldman Sachs ETF (GGUS) Valuation
GGUS valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 31.5 trailing earnings
- Forward P/E
- 23.4 analyst estimates
- Price / sales
- 6.03
- Price / book
- 12.91
- EV / EBITDA
- 22.1
- Earnings yield
- 3.17% inverse of P/E
- Dividend yield
- 0.52% of the holdings
- Return on equity
- 41.0% combined
- Net margin
- 19.2% combined
- Beta
- 1.44 weighted, vs S&P 500
GGUS valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| GGUS | 31.5 | 23.4 | 6.03 | 12.91 | 0.52% | 41.0% | 19.2% | 3.1% |
| 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.
GGUS valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 50.8% | 33.7 | 22.9 | 12.10 | 16.54 | 0.42% | 49.1% |
| Communication Services | 15.1% | 20.4 | 22.1 | 8.11 | 7.26 | 0.23% | 35.6% |
| Consumer Cyclical | 9.2% | 42.1 | 32.0 | 4.10 | 13.32 | 0.64% | 31.6% |
| Healthcare | 7.4% | 45.3 | 23.2 | 2.00 | 17.45 | 0.62% | 38.5% |
| Industrials | 7.4% | 38.0 | 27.9 | 3.42 | 13.44 | 0.69% | 35.4% |
| Financial Services | 6.2% | 30.8 | 21.3 | 10.04 | 11.41 | 0.94% | 37.0% |
| Consumer Defensive | 1.5% | 36.4 | 28.2 | 1.66 | 11.65 | 1.33% | 32.0% |
| Energy | 0.7% | 21.4 | 9.7 | 1.46 | 7.40 | 1.13% | 34.6% |
| Real Estate | 0.5% | 18.7 | 26.8 | 7.03 | 13.96 | 3.96% | 74.7% |
| Utilities | 0.3% | 31.2 | 11.9 | 1.63 | 8.53 | 0.80% | 27.4% |
| Basic Materials | 0.3% | 17.6 | 16.7 | 3.45 | 7.03 | 3.01% | 40.1% |
GGUS 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 GGUS weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
GGUS largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 13.37% | 27.1 | 24.9 | 17.1 | 0.47% | 15.68% |
| GOOGL | Alphabet Inc. | 5.13% | 17.1 | 22.8 | 9.3 | 0.26% | 9.53% |
| AAPL | Apple Inc. | 4.71% | 39.4 | 35.2 | 10.7 | 0.31% | 3.80% |
| MSFT | Microsoft Corporation | 4.51% | 29.5 | 25.1 | 11.8 | 0.74% | 4.86% |
| GOOG | Alphabet Inc. | 4.08% | 16.9 | 21.8 | 9.2 | 0.26% | 7.66% |
| LLY | Eli Lilly and Company | 3.89% | 42.2 | 24.4 | 14.1 | 0.55% | 2.93% |
| META | Meta Platforms, Inc. | 3.76% | 26.7 | 22.1 | 7.9 | 0.30% | 4.47% |
| TSLA | Tesla, Inc. | 3.74% | 328.4 | 158.7 | 13.5 | — | 0.36% |
| AVGO | Broadcom Inc. | 3.61% | 43.3 | 19.4 | 17.6 | 0.79% | 2.65% |
| MU | Micron Technology, Inc. | 3.46% | 11.8 | 7.0 | 7.5 | 0.07% | 9.29% |
| AMD | Advanced Micro Devices, Inc. | 3.14% | 134.9 | 39.5 | 20.9 | — | 0.74% |
| V | Visa Inc. | 2.63% | 34.3 | 24.0 | 17.0 | 0.67% | 2.43% |
| MA | Mastercard Incorporated | 1.85% | 34.0 | 24.2 | 15.4 | 0.56% | 1.73% |
| PLTR | Palantir Technologies Inc. | 1.54% | 160.4 | 85.5 | 72.6 | — | 0.30% |
| GCP | General Electric Company | 1.15% | — | — | — | — | — |
| CAT | Caterpillar Inc. | 1.12% | 31.5 | 25.4 | 4.5 | 0.89% | 1.13% |
| AMAT | Applied Materials, Inc. | 1.11% | 35.3 | 23.4 | 10.5 | 0.52% | 1.00% |
| PANW | Palo Alto Networks, Inc. | 1.08% | 855.0 | 94.3 | 24.4 | — | 0.04% |
| LRCX | Lam Research Corporation | 1.02% | 45.8 | 33.7 | 14.2 | 0.50% | 0.71% |
| NFLX | Netflix, Inc. | 1.02% | 22.2 | 18.7 | 6.1 | — | 1.46% |
| TXN | Texas Instruments Incorporated | 0.90% | 42.1 | 27.5 | 13.0 | 2.20% | 0.68% |
| CRWD | CrowdStrike Holdings, Inc. | 0.90% | — | 208.3 | 43.1 | — | 0.01% |
| HD | The Home Depot, Inc. | 0.85% | 21.5 | 19.8 | 1.8 | 3.01% | 1.25% |
| ORCL | Oracle Corporation | 0.81% | 20.1 | 17.8 | 5.4 | 1.56% | 1.27% |
| GEV | GE Vernova Inc. | 0.79% | 26.4 | 38.8 | 5.9 | 0.22% | 0.95% |
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 GGUS valuation
Adding up its 358 holdings with company data, GGUS trades at 31.5 times trailing earnings and 23.4 times analysts' forward estimates, with a price-to-book ratio of 12.91 and a dividend yield of 0.52%. Its earnings yield of 3.17% is 2.15 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 50.3% of the fund and earn 61.2% of its combined profit. By sector, Healthcare is the most expensive at 45.3 times earnings and Basic Materials the cheapest at 17.6. Companies that lost money over the past year are 3.1% 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 98.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: GGUS chart, GGUS performance, GGUS holdings, GGUS dividends.
GGUS valuation FAQ
What is the P/E ratio of GGUS?
Based on its holdings, GGUS has a trailing P/E of 31.5 and a forward P/E of 23.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of GGUS?
The trailing earnings yield is 3.17% (1 ÷ P/E) and the forward earnings yield 4.28%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is GGUS more expensive than the S&P 500?
GGUS trades at 31.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.4 and 19.9.
What is the price-to-book ratio of GGUS?
The holdings of GGUS trade at 12.91 times book value, with a combined return on equity of 41.0%.
Which sector in GGUS has the highest P/E?
Healthcare has the highest P/E at 45.3 and Basic Materials the lowest at 17.6.