iShares U.S. Technology ETF (IYW) Valuation
IYW valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 35.2 trailing earnings
- Forward P/E
- 24.1 analyst estimates
- Price / sales
- 8.22
- Price / book
- 11.09
- EV / EBITDA
- 23.7
- Earnings yield
- 2.84% inverse of P/E
- Dividend yield
- 0.48% of the holdings
- Return on equity
- 31.5% combined
- Net margin
- 23.3% combined
- Beta
- 1.51 weighted, vs S&P 500
IYW valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IYW | 35.2 | 24.1 | 8.22 | 11.09 | 0.48% | 31.5% | 23.3% | 4.2% |
| 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.
IYW valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 90.3% | 37.2 | 24.3 | 8.24 | 11.82 | 0.51% | 31.8% |
| Communication Services | 8.2% | 20.3 | 21.4 | 8.47 | 7.06 | 0.27% | 34.7% |
| Consumer Cyclical | 0.4% | 78.9 | 31.9 | 4.81 | 7.57 | 0.00% | 9.6% |
| Financial Services | 0.1% | n/m | 155.7 | 26.61 | 2.45 | 0.02% | −41.2% |
| Industrials | 0.1% | 21.3 | 12.7 | 1.52 | 3.60 | 1.16% | 16.9% |
IYW 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 IYW weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IYW largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 16.77% | 27.1 | 24.9 | 17.1 | 0.47% | 22.02% |
| AAPL | Apple Inc. | 16.71% | 39.4 | 35.2 | 10.7 | 0.31% | 15.08% |
| MSFT | Microsoft Corporation | 13.13% | 29.5 | 25.1 | 11.8 | 0.74% | 15.83% |
| META | Meta Platforms, Inc. | 3.31% | 26.7 | 22.1 | 7.9 | 0.30% | 4.40% |
| AVGO | Broadcom Inc. | 3.18% | 43.3 | 19.4 | 17.6 | 0.79% | 2.61% |
| AMD | Advanced Micro Devices, Inc. | 2.76% | 134.9 | 39.5 | 20.9 | — | 0.73% |
| MU | Micron Technology, Inc. | 2.46% | 11.8 | 7.0 | 7.5 | 0.07% | 7.40% |
| GOOGL | Alphabet Inc. | 2.37% | 17.1 | 22.8 | 9.3 | 0.26% | 4.92% |
| PLTR | Palantir Technologies Inc. | 2.15% | 160.4 | 85.5 | 72.6 | — | 0.48% |
| GOOG | Alphabet Inc. | 1.95% | 16.9 | 21.8 | 9.2 | 0.26% | 4.10% |
| INTC | Intel Corporation | 1.95% | — | 63.3 | 8.3 | — | −1.63% |
| AMAT | Applied Materials, Inc. | 1.57% | 35.3 | 23.4 | 10.5 | 0.52% | 1.58% |
| PANW | Palo Alto Networks, Inc. | 1.50% | 855.0 | 94.3 | 24.4 | — | 0.06% |
| LRCX | Lam Research Corporation | 1.45% | 45.8 | 33.7 | 14.2 | 0.50% | 1.12% |
| TXN | Texas Instruments Incorporated | 1.34% | 42.1 | 27.5 | 13.0 | 2.20% | 1.13% |
| CRWD | CrowdStrike Holdings, Inc. | 1.28% | — | 208.3 | 43.1 | — | 0.01% |
| IBM | International Business Machines Corporation | 1.24% | 20.6 | 17.4 | 3.2 | 2.91% | 2.14% |
| ORCL | Oracle Corporation | 1.13% | 20.1 | 17.8 | 5.4 | 1.56% | 2.00% |
| CRM | Salesforce, Inc. | 1.03% | 22.0 | 14.0 | 4.5 | 0.73% | 1.66% |
| SNDK | Sandisk Corporation | 0.95% | 17.6 | 8.0 | 9.3 | — | 1.92% |
| MRVL | Marvell Technology, Inc. | 0.95% | 72.3 | 62.1 | 21.7 | 0.11% | 0.47% |
| KLAC | KLA Corporation | 0.94% | 45.3 | 34.8 | 15.9 | 0.56% | 0.73% |
| ADI | Analog Devices, Inc. | 0.91% | 47.0 | 23.2 | 13.8 | 1.11% | 0.69% |
| APH | Amphenol Corporation | 0.89% | 39.7 | 24.6 | 6.7 | 0.63% | 0.80% |
| QCOM | QUALCOMM Incorporated | 0.89% | 19.9 | 19.6 | 4.2 | 2.14% | 1.58% |
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 IYW valuation
Adding up its 147 holdings with company data, IYW trades at 35.2 times trailing earnings and 24.1 times analysts' forward estimates, with a price-to-book ratio of 11.09 and a dividend yield of 0.48%. Its earnings yield of 2.84% is 2.49 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 64.8% of the fund and earn 77.6% of its combined profit. By sector, Consumer Cyclical is the most expensive at 78.9 times earnings and Communication Services the cheapest at 20.3. Companies that lost money over the past year are 4.2% 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 99.99% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IYW chart, IYW performance, IYW holdings, IYW dividends.
IYW valuation FAQ
What is the P/E ratio of IYW?
Based on its holdings, IYW has a trailing P/E of 35.2 and a forward P/E of 24.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IYW?
The trailing earnings yield is 2.84% (1 ÷ P/E) and the forward earnings yield 4.15%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IYW more expensive than the S&P 500?
IYW trades at 35.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 24.1 and 19.9.
What is the price-to-book ratio of IYW?
The holdings of IYW trade at 11.09 times book value, with a combined return on equity of 31.5%.
Which sector in IYW has the highest P/E?
Consumer Cyclical has the highest P/E at 78.9 and Communication Services the lowest at 20.3.