iShares North American Natural Resources ETF (IGE) Valuation
IGE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.4 trailing earnings
- Forward P/E
- 13.2 analyst estimates
- Price / sales
- 1.91
- Price / book
- 2.56
- EV / EBITDA
- 8.4
- Earnings yield
- 5.15% inverse of P/E
- Dividend yield
- 2.14% of the holdings
- Return on equity
- 13.2% combined
- Net margin
- 9.8% combined
- Beta
- 0.70 weighted, vs S&P 500
IGE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IGE | 19.4 | 13.2 | 1.91 | 2.56 | 2.14% | 13.2% | 9.8% | 1.9% |
| 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.
IGE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 74.9% | 19.3 | 13.0 | 1.77 | 2.47 | 2.44% | 12.8% |
| Basic Materials | 21.3% | 17.6 | 14.3 | 3.53 | 3.14 | 0.87% | 17.8% |
| Consumer Cyclical | 3.5% | 69.1 | 12.4 | 0.88 | 2.01 | 3.51% | 2.9% |
| Healthcare | 0.2% | 22.5 | 19.8 | 2.01 | 3.02 | 1.54% | 13.4% |
IGE 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 IGE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IGE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| XOM | Exxon Mobil Corporation | 11.44% | 23.0 | 14.8 | 2.0 | 2.30% | 9.69% |
| CVX | Chevron Corporation | 10.45% | 21.2 | 15.2 | 2.1 | 3.16% | 9.61% |
| COP | ConocoPhillips | 4.39% | 19.4 | 12.7 | 2.7 | 2.29% | 4.42% |
| MPC | Marathon Petroleum Corporation | 3.11% | 16.6 | 5.5 | 0.9 | 0.84% | 3.67% |
| VLO | Valero Energy Corporation | 3.09% | 18.5 | 10.2 | 1.0 | 1.08% | 3.25% |
| NEM | Newmont Corporation | 2.79% | 15.0 | 11.6 | 4.8 | 0.88% | 3.64% |
| CNQ | Canadian Natural Resources Limited | 2.76% | 13.2 | 13.9 | 2.5 | 3.27% | 4.08% |
| PSX | Phillips 66 | 2.74% | 16.8 | 9.7 | 0.8 | 1.81% | 3.19% |
| ENB | Enbridge Inc. | 2.49% | 25.7 | 20.4 | 1.3 | 5.82% | 1.89% |
| SU | Suncor Energy Inc. | 2.24% | 14.4 | 10.3 | 1.6 | 2.17% | 3.04% |
| AEM | Agnico Eagle Mines Limited | 2.18% | 16.2 | 17.0 | 6.6 | 0.95% | 2.63% |
| FCX | Freeport-McMoRan Inc. | 2.16% | 34.3 | 18.1 | 3.9 | 0.86% | 1.23% |
| WMB | The Williams Companies, Inc. | 2.01% | 28.4 | 26.8 | 7.1 | 2.95% | 1.38% |
| EOG | EOG Resources, Inc. | 1.93% | 12.3 | 10.1 | 3.1 | 2.58% | 3.06% |
| SLB | Schlumberger Limited | 1.72% | 23.9 | 15.9 | 2.0 | 2.38% | 1.40% |
| KMI | Kinder Morgan, Inc. | 1.66% | 22.1 | 20.0 | 4.2 | 3.45% | 1.47% |
| TRP | TC Energy Corporation | 1.63% | 24.3 | 21.2 | 4.1 | 4.01% | 1.31% |
| B | Barrick Mining Corporation | 1.62% | 10.5 | 10.8 | 3.3 | 1.71% | 2.99% |
| TRGP | Targa Resources Corp. | 1.49% | 28.2 | 23.2 | 3.8 | 1.70% | 1.03% |
| OKE | ONEOK, Inc. | 1.48% | 16.1 | 14.5 | 1.5 | 4.59% | 1.80% |
| LNG | Cheniere Energy, Inc. | 1.43% | 21.9 | 13.5 | 2.9 | 0.77% | 1.28% |
| CRH | CRH plc | 1.37% | 14.8 | 13.0 | 1.4 | 1.87% | 1.81% |
| BKR | Baker Hughes Company | 1.34% | 17.9 | 18.0 | 2.0 | 1.65% | 1.46% |
| WPM | Wheaton Precious Metals Corp. | 1.32% | 29.8 | 26.1 | 19.2 | 0.58% | 0.86% |
| DVN | Devon Energy Corporation | 1.27% | 11.1 | 9.3 | 3.0 | 2.52% | 2.24% |
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 IGE valuation
Adding up its 145 holdings with company data, IGE trades at 19.4 times trailing earnings and 13.2 times analysts' forward estimates, with a price-to-book ratio of 2.56 and a dividend yield of 2.14%. Its earnings yield of 5.15% is 0.18 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 45.5% of the fund and earn 46.5% of its combined profit. By sector, Consumer Cyclical is the most expensive at 69.1 times earnings and Basic Materials the cheapest at 17.6. Companies that lost money over the past year are 1.9% 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 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IGE chart, IGE performance, IGE holdings, IGE dividends.
IGE valuation FAQ
What is the P/E ratio of IGE?
Based on its holdings, IGE has a trailing P/E of 19.4 and a forward P/E of 13.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IGE?
The trailing earnings yield is 5.15% (1 ÷ P/E) and the forward earnings yield 7.56%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IGE more expensive than the S&P 500?
IGE trades at 19.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.2 and 19.9.
What is the price-to-book ratio of IGE?
The holdings of IGE trade at 2.56 times book value, with a combined return on equity of 13.2%.
Which sector in IGE has the highest P/E?
Consumer Cyclical has the highest P/E at 69.1 and Basic Materials the lowest at 17.6.