Alger Russell Innovation ETF (INVN) Valuation
INVN valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.8 trailing earnings
- Forward P/E
- 14.1 analyst estimates
- Price / sales
- 2.96
- Price / book
- 3.80
- EV / EBITDA
- 16.2
- Earnings yield
- 4.03% inverse of P/E
- Dividend yield
- 0.55% of the holdings
- Return on equity
- 15.3% combined
- Net margin
- 11.9% combined
- Beta
- 0.98 weighted, vs S&P 500
INVN valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| INVN | 24.8 | 14.1 | 2.96 | 3.80 | 0.55% | 15.3% | 11.9% | 17.6% |
| 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.
INVN valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 57.2% | 24.8 | 15.5 | 3.39 | 4.43 | 0.32% | 17.9% |
| Healthcare | 20.4% | 24.2 | 12.6 | 3.79 | 3.32 | 1.20% | 13.7% |
| Communication Services | 8.4% | 52.0 | 17.2 | 3.59 | 5.16 | 0.07% | 9.9% |
| Consumer Cyclical | 7.8% | 21.6 | 10.2 | 1.19 | 2.42 | 0.51% | 11.2% |
| Industrials | 2.0% | 25.5 | 12.6 | 4.15 | 2.10 | 2.40% | 8.2% |
INVN 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 INVN weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
INVN largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| RBLX | Roblox Corporation | 2.53% | — | 192.3 | 6.2 | — | −1.73% |
| TEAM | Atlassian Corporation | 2.48% | — | 36.2 | 8.0 | — | −0.04% |
| DOCU | DocuSign, Inc. | 2.44% | 45.5 | 15.1 | 4.2 | — | 1.36% |
| ESTC | Elastic N.V. | 2.34% | 26.2 | 27.4 | 5.3 | — | 2.27% |
| HUBS | HubSpot, Inc. | 2.23% | 82.5 | 13.9 | 3.4 | — | 0.69% |
| BIIB | Biogen Inc. | 2.23% | 41.3 | 13.9 | 3.4 | — | 1.37% |
| RNG | RingCentral, Inc. | 2.18% | 60.4 | 14.3 | 2.4 | 0.36% | 0.92% |
| GTLB | GitLab Inc. | 2.18% | — | 55.2 | 8.3 | — | −0.33% |
| KVYO | Klaviyo, Inc. | 2.17% | 569.3 | 15.5 | 3.7 | — | 0.10% |
| DGNR | Dragoneer Growth Opportunities Corp | 2.17% | — | — | — | — | — |
| NTNX | Nutanix, Inc. | 2.17% | 12.9 | 29.9 | 6.3 | — | 4.25% |
| TRMB | Trimble Inc. | 2.17% | — | 14.0 | 3.7 | — | −0.44% |
| ETSY | Etsy, Inc. | 2.12% | 24.9 | 14.9 | 2.7 | — | 2.16% |
| WDAY | Workday, Inc. | 2.12% | 38.9 | 17.7 | 4.5 | — | 1.38% |
| CART | Instacart (Maplebear Inc.) | 2.11% | 27.2 | 13.0 | 3.0 | — | 1.97% |
| PYPL | PayPal Holdings, Inc. | 2.10% | 10.7 | 9.1 | 1.4 | 0.99% | 4.98% |
| PCOR | Procore Technologies, Inc. | 2.09% | — | 19.5 | 6.1 | — | −0.24% |
| EXEL | Exelixis, Inc. | 2.08% | 19.6 | 13.6 | 6.3 | — | 2.69% |
| OLED | Universal Display Corporation | 2.08% | 18.8 | 14.9 | 5.9 | 2.57% | 2.81% |
| GDDY | GoDaddy Inc. | 2.07% | 15.8 | 8.7 | 2.6 | — | 3.32% |
| PINS | Pinterest, Inc | 2.06% | 64.4 | 8.0 | 2.7 | — | 0.81% |
| DLB | Dolby Laboratories, Inc. | 2.05% | 25.5 | 12.6 | 4.1 | 2.40% | 2.04% |
| DBX | Dropbox, Inc. | 2.05% | 19.7 | 10.8 | 3.1 | — | 2.64% |
| META | Meta Platforms, Inc. | 2.04% | 26.7 | 22.1 | 7.9 | 0.30% | 1.94% |
| ZM | Zoom Video Communications, Inc. | 1.97% | 8.7 | 15.1 | 5.5 | — | 5.72% |
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 INVN valuation
Adding up its 49 holdings with company data, INVN trades at 24.8 times trailing earnings and 14.1 times analysts' forward estimates, with a price-to-book ratio of 3.80 and a dividend yield of 0.55%. Its earnings yield of 4.03% is 1.30 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 23.0% of the fund and earn 8.8% of its combined profit. By sector, Communication Services is the most expensive at 52.0 times earnings and Consumer Cyclical the cheapest at 21.6. Companies that lost money over the past year are 17.6% 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 97.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: INVN chart, INVN performance, INVN holdings, INVN dividends.
INVN valuation FAQ
What is the P/E ratio of INVN?
Based on its holdings, INVN has a trailing P/E of 24.8 and a forward P/E of 14.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of INVN?
The trailing earnings yield is 4.03% (1 ÷ P/E) and the forward earnings yield 7.11%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is INVN more expensive than the S&P 500?
INVN trades at 24.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.1 and 19.9.
What is the price-to-book ratio of INVN?
The holdings of INVN trade at 3.80 times book value, with a combined return on equity of 15.3%.
Which sector in INVN has the highest P/E?
Communication Services has the highest P/E at 52.0 and Consumer Cyclical the lowest at 21.6.