Invesco Global Equity Net Zero ETF (IQSZ) Valuation
IQSZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.3 trailing earnings
- Forward P/E
- 17.7 analyst estimates
- Price / sales
- 1.81
- Price / book
- 4.58
- EV / EBITDA
- 15.5
- Earnings yield
- 4.48% inverse of P/E
- Dividend yield
- 1.22% of the holdings
- Return on equity
- 20.5% combined
- Net margin
- 8.1% combined
- Beta
- 1.12 weighted, vs S&P 500
IQSZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IQSZ | 22.3 | 17.7 | 1.81 | 4.58 | 1.22% | 20.5% | 8.1% | 2.0% |
| 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.
IQSZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 32.1% | 30.0 | 22.0 | 2.56 | 11.23 | 0.60% | 37.5% |
| Financial Services | 16.7% | 13.0 | 12.5 | 0.83 | 2.02 | 1.86% | 15.6% |
| Consumer Cyclical | 9.2% | 25.2 | 19.2 | 2.07 | 6.23 | 0.86% | 24.7% |
| Healthcare | 8.1% | 33.5 | 15.9 | 1.42 | 5.00 | 1.90% | 14.9% |
| Communication Services | 7.9% | 17.1 | 18.3 | 4.42 | 4.49 | 0.89% | 26.2% |
| Energy | 5.5% | 17.5 | 12.5 | 1.85 | 2.30 | 2.37% | 13.1% |
| Consumer Defensive | 3.7% | 27.5 | 19.4 | 1.26 | 4.37 | 2.16% | 15.9% |
| Utilities | 1.6% | 9.3 | 10.7 | 1.50 | 1.46 | 4.73% | 15.6% |
| Real Estate | 0.7% | 17.7 | 20.9 | 2.13 | 2.30 | 3.08% | 13.0% |
IQSZ 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 IQSZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IQSZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 5.12% | 39.4 | 35.2 | 10.7 | 0.31% | 4.46% |
| NVDA | NVIDIA Corporation | 4.67% | 27.1 | 24.9 | 17.1 | 0.47% | 5.92% |
| MSFT | Microsoft Corporation | 3.70% | 29.5 | 25.1 | 11.8 | 0.74% | 4.31% |
| AMZN | Amazon.com, Inc. | 2.56% | 20.1 | 23.6 | 3.5 | — | 4.37% |
| GOOGL | Alphabet Inc. | 1.99% | 17.1 | 22.8 | 9.3 | 0.26% | 4.00% |
| 2330 | Taiwan Semiconductor Manufacturing Co. Ltd. | 1.93% | — | — | — | — | — |
| GOOG | Alphabet Inc. | 1.47% | 16.9 | 21.8 | 9.2 | 0.26% | 2.98% |
| AVGO | Broadcom Inc. | 1.47% | 43.3 | 19.4 | 17.6 | 0.79% | 1.16% |
| META | Meta Platforms, Inc. | 1.37% | 26.7 | 22.1 | 7.9 | 0.30% | 1.76% |
| MU | Micron Technology, Inc. | 1.13% | 11.8 | 7.0 | 7.5 | 0.07% | 3.27% |
| TSLA | Tesla, Inc. | 0.98% | 328.4 | 158.7 | 13.5 | — | 0.10% |
| SSNLF | Samsung Electronics Co Ltd | 0.84% | — | — | — | — | — |
| LLY | Eli Lilly and Company | 0.84% | 42.2 | 24.4 | 14.1 | 0.55% | 0.68% |
| 8640 | Toronto Dominion Bank | 0.79% | — | — | — | — | — |
| XOM | Exxon Mobil Corporation | 0.74% | 23.0 | 14.8 | 2.0 | 2.30% | 1.11% |
| JPM | JPMorgan Chase & Co. | 0.73% | 14.2 | 13.5 | 4.7 | 1.94% | 1.75% |
| JNJ | Johnson & Johnson | 0.71% | 38.8 | 21.0 | 6.2 | 2.10% | 0.63% |
| ASML | ASML Holding N.V. | 0.69% | — | — | — | — | — |
| BRK.B | Berkshire Hathaway Inc. | 0.60% | 13.4 | 22.7 | 3.0 | — | 1.53% |
| CVX | Chevron Corporation | 0.60% | 21.2 | 15.2 | 2.1 | 3.16% | 0.96% |
| 000660 | SK Hynix Inc | 0.56% | — | — | — | — | — |
| V | Visa Inc. | 0.55% | 34.3 | 24.0 | 17.0 | 0.67% | 0.55% |
| ABBV | AbbVie Inc. | 0.53% | 80.6 | 16.4 | 7.8 | 2.42% | 0.23% |
| MS | Morgan Stanley | 0.53% | 14.3 | 14.9 | 3.6 | 2.55% | 1.26% |
| UNH | UnitedHealth Group Incorporated | 0.51% | 25.8 | 16.6 | 0.8 | 2.31% | 0.68% |
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 IQSZ valuation
Adding up its 205 holdings with company data, IQSZ trades at 22.3 times trailing earnings and 17.7 times analysts' forward estimates, with a price-to-book ratio of 4.58 and a dividend yield of 1.22%. Its earnings yield of 4.48% is 0.85 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 25.4% of the fund and earn 32.3% of its combined profit. By sector, Healthcare is the most expensive at 33.5 times earnings and Utilities the cheapest at 9.3. Companies that lost money over the past year are 2.0% 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 65.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IQSZ chart, IQSZ performance, IQSZ holdings, IQSZ dividends.
IQSZ valuation FAQ
What is the P/E ratio of IQSZ?
Based on its holdings, IQSZ has a trailing P/E of 22.3 and a forward P/E of 17.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IQSZ?
The trailing earnings yield is 4.48% (1 ÷ P/E) and the forward earnings yield 5.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IQSZ more expensive than the S&P 500?
IQSZ trades at 22.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.7 and 19.9.
What is the price-to-book ratio of IQSZ?
The holdings of IQSZ trade at 4.58 times book value, with a combined return on equity of 20.5%.
Which sector in IQSZ has the highest P/E?
Healthcare has the highest P/E at 33.5 and Utilities the lowest at 9.3.