Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) Valuation
IVOG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 28.0 trailing earnings
- Forward P/E
- 18.4 analyst estimates
- Price / sales
- 3.00
- Price / book
- 4.40
- EV / EBITDA
- 15.2
- Earnings yield
- 3.57% inverse of P/E
- Dividend yield
- 0.80% of the holdings
- Return on equity
- 15.7% combined
- Net margin
- 10.7% combined
- Beta
- 1.12 weighted, vs S&P 500
IVOG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IVOG | 28.0 | 18.4 | 3.00 | 4.40 | 0.80% | 15.7% | 10.7% | 6.5% |
| 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.
IVOG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 25.5% | 33.1 | 21.7 | 2.54 | 5.03 | 0.54% | 15.2% |
| Technology | 24.4% | 41.9 | 21.6 | 4.25 | 6.33 | 0.09% | 15.1% |
| Healthcare | 15.8% | 34.3 | 17.8 | 3.07 | 4.61 | 0.04% | 13.4% |
| Consumer Cyclical | 7.2% | 17.5 | 14.4 | 1.54 | 5.48 | 1.05% | 31.3% |
| Financial Services | 6.9% | 13.6 | 10.8 | 2.47 | 2.47 | 1.68% | 18.1% |
| Real Estate | 5.9% | 18.9 | 20.4 | 7.43 | 2.28 | 5.55% | 12.1% |
| Basic Materials | 4.2% | 20.3 | 15.9 | 4.17 | 3.07 | 0.63% | 15.2% |
| Energy | 3.1% | 17.8 | 17.9 | 3.09 | 4.02 | 1.42% | 22.6% |
| Communication Services | 2.3% | 45.2 | 18.8 | 3.06 | 5.60 | 0.72% | 12.4% |
| Consumer Defensive | 1.7% | 28.2 | 17.2 | 1.91 | 4.76 | 0.16% | 16.9% |
| Utilities | 1.7% | 93.2 | 13.7 | 3.94 | 3.12 | 1.01% | 3.3% |
IVOG 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 IVOG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IVOG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| TWLO | Twilio Inc | 2.58% | 33.8 | 43.7 | 6.7 | — | 2.21% |
| OKTA | Okta, Inc. | 1.89% | 112.8 | 54.3 | 10.7 | — | 0.48% |
| FTI | TechnipFMC plc | 1.53% | 24.3 | 21.3 | 2.6 | 0.29% | 1.83% |
| NVT | nVent Electric plc | 1.44% | 39.3 | 25.1 | 4.8 | 0.59% | 1.06% |
| ATI | ATI Inc. | 1.40% | 54.4 | 28.8 | 5.4 | — | 0.75% |
| UTHR | United Therapeutics Corporation | 1.29% | 19.1 | 16.4 | 7.2 | — | 1.95% |
| THC | Tenet Healthcare Corporation | 1.17% | 10.5 | 12.5 | 1.0 | — | 3.23% |
| ROKU | Roku, Inc | 1.16% | 65.8 | 39.1 | 4.4 | — | 0.51% |
| CW | Curtiss-Wright Corporation | 1.16% | 34.6 | 28.4 | 5.1 | 0.21% | 0.97% |
| XPO | XPO Logistics, Inc. | 1.13% | 54.9 | 27.0 | 2.5 | — | 0.60% |
| WWD | Woodward, Inc. | 1.09% | 36.5 | 31.6 | 4.6 | 0.39% | 0.86% |
| RGLD | Royal Gold, Inc. | 1.07% | 26.4 | 24.2 | 13.1 | 0.80% | 1.17% |
| MTSI | MACOM Technology Solutions Holdings, Inc. | 1.06% | 83.5 | 32.3 | 17.2 | — | 0.37% |
| ITT | ITT Inc. | 0.98% | 38.8 | 21.6 | 3.7 | 0.78% | 0.73% |
| CDE | Coeur Mining, Inc. | 0.97% | 13.2 | 8.7 | 5.0 | 0.26% | 2.13% |
| DT | Dynatrace, Inc. | 0.96% | 122.2 | 29.6 | 8.5 | — | 0.23% |
| CRS | Carpenter Technology Corporation | 0.91% | 35.8 | 23.4 | 6.0 | 0.21% | 0.73% |
| RBC | RBC Bearings Incorporated | 0.88% | 49.3 | 36.9 | 8.1 | — | 0.52% |
| STRL | Sterling Infrastructure, Inc. | 0.88% | 30.6 | 19.6 | 3.8 | — | 0.83% |
| SITM | SiTime Corporation | 0.86% | 843.1 | 44.4 | 30.2 | — | 0.03% |
| RBA | RB Global, Inc. | 0.85% | 36.3 | 17.1 | 3.2 | 1.57% | 0.68% |
| JAZZ | Jazz Pharmaceuticals plc | 0.84% | 14.4 | 10.9 | 3.0 | — | 1.68% |
| EXEL | Exelixis, Inc. | 0.84% | 19.6 | 13.6 | 6.3 | — | 1.23% |
| TOST | Toast, Inc. | 0.83% | 40.0 | 17.6 | 2.7 | — | 0.60% |
| APG | APi Group Corporation | 0.83% | — | 17.9 | 2.1 | — | −0.36% |
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 IVOG valuation
Adding up its 241 holdings with company data, IVOG trades at 28.0 times trailing earnings and 18.4 times analysts' forward estimates, with a price-to-book ratio of 4.40 and a dividend yield of 0.80%. Its earnings yield of 3.57% is 1.76 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 14.8% of the fund and earn 13.6% of its combined profit. By sector, Utilities is the most expensive at 93.2 times earnings and Financial Services the cheapest at 13.6. Companies that lost money over the past year are 6.5% 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 97.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IVOG chart, IVOG performance, IVOG holdings, IVOG dividends.
IVOG valuation FAQ
What is the P/E ratio of IVOG?
Based on its holdings, IVOG has a trailing P/E of 28.0 and a forward P/E of 18.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IVOG?
The trailing earnings yield is 3.57% (1 ÷ P/E) and the forward earnings yield 5.44%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IVOG more expensive than the S&P 500?
IVOG trades at 28.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.4 and 19.9.
What is the price-to-book ratio of IVOG?
The holdings of IVOG trade at 4.40 times book value, with a combined return on equity of 15.7%.
Which sector in IVOG has the highest P/E?
Utilities has the highest P/E at 93.2 and Financial Services the lowest at 13.6.