Tuttle Capital Concentrated Memory Stack ETF (HBMX) Valuation
HBMX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.0 trailing earnings
- Forward P/E
- 13.1 analyst estimates
- Price / sales
- 0.07
- Price / book
- 7.93
- EV / EBITDA
- 18.7
- Earnings yield
- 4.54% inverse of P/E
- Dividend yield
- 0.26% of the holdings
- Return on equity
- 36.0% combined
- Net margin
- 0.3% combined
- Beta
- 1.93 weighted, vs S&P 500
HBMX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| HBMX | 22.0 | 13.1 | 0.07 | 7.93 | 0.26% | 36.0% | 0.3% | 0.9% |
| 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.
HBMX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 89.8% | 22.0 | 13.1 | 0.07 | 7.93 | 0.26% | 36.0% |
HBMX 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 HBMX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
HBMX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MU | Micron Technology, Inc. | 10.29% | 11.8 | 7.0 | 7.5 | 0.07% | 27.41% |
| ATEYY | Advantest Corp DRC | 8.22% | — | — | — | — | — |
| PENG | Penguin Solutions, Inc. | 6.74% | 22.0 | 12.5 | 1.7 | — | 9.67% |
| ASML | ASML Holding N.V. | 5.50% | 40.4 | 28.9 | 16.0 | 0.55% | 4.29% |
| ONTO | Onto Innovation Inc. | 5.37% | 83.0 | 22.8 | 9.7 | — | 2.04% |
| CAMT | Camtek Ltd | 5.35% | — | — | — | — | — |
| SKHY | SK Hynix Inc. American Depositary Shares | 5.13% | 8.7 | 5.4 | 0.0 | 0.08% | 18.58% |
| SNDK | Sandisk Corporation | 4.72% | 17.6 | 8.0 | 9.3 | — | 8.44% |
| RMBS | Rambus Inc. | 4.57% | 40.0 | 24.2 | 12.5 | — | 3.60% |
| LRCX | Lam Research Corporation | 4.52% | 45.8 | 33.7 | 14.2 | 0.50% | 3.11% |
| AMAT | Applied Materials, Inc. | 3.84% | 35.3 | 23.4 | 10.5 | 0.52% | 3.43% |
| AMKR | Amkor Technology, Inc. | 3.79% | 18.8 | 18.8 | 1.4 | 0.80% | 6.37% |
| KLAC | KLA Corporation | 3.74% | 45.3 | 34.8 | 15.9 | 0.56% | 2.60% |
| SIMO | Silicon Motion Technology Corporation | 3.72% | 27.3 | 19.6 | 5.5 | 1.09% | 4.30% |
| NVMI | Nova Ltd | 3.33% | — | — | — | — | — |
| DSCSY | Disco Corp ADR | 2.98% | — | — | — | — | — |
| VECO | Veeco Instruments Inc. | 2.67% | 115.5 | 14.3 | 3.8 | — | 0.73% |
| FGXXX | First American Funds Inc. - Government Obligations Fund | 2.63% | — | — | — | — | — |
| FORM | FormFactor, Inc. | 2.12% | 72.4 | 36.6 | 9.1 | — | 0.92% |
| WDC | Western Digital Corporation | 1.57% | 12.3 | 22.8 | 9.6 | 0.18% | 4.00% |
| STX | Seagate Technology Holdings plc | 0.99% | 46.0 | 25.7 | 11.9 | 0.46% | 0.68% |
| MRAM | Everspin Technologies, Inc. | 0.60% | — | 31.6 | 5.1 | — | −0.18% |
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 HBMX valuation
Adding up its 17 holdings with company data, HBMX trades at 22.0 times trailing earnings and 13.1 times analysts' forward estimates, with a price-to-book ratio of 7.93 and a dividend yield of 0.26%. Its earnings yield of 4.54% is 0.79 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 60.4% of the fund and earn 86.9% of its combined profit. Companies that lost money over the past year are 0.9% 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 75.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: HBMX chart, HBMX holdings.
HBMX valuation FAQ
What is the P/E ratio of HBMX?
Based on its holdings, HBMX has a trailing P/E of 22.0 and a forward P/E of 13.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of HBMX?
The trailing earnings yield is 4.54% (1 ÷ P/E) and the forward earnings yield 7.61%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is HBMX more expensive than the S&P 500?
HBMX trades at 22.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.1 and 19.9.
What is the price-to-book ratio of HBMX?
The holdings of HBMX trade at 7.93 times book value, with a combined return on equity of 36.0%.