JPMorgan Healthcare Leaders ETF (JDOC) Valuation
JDOC valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 42.1 trailing earnings
- Forward P/E
- 17.9 analyst estimates
- Price / sales
- 1.48
- Price / book
- 5.39
- EV / EBITDA
- 16.4
- Earnings yield
- 2.38% inverse of P/E
- Dividend yield
- 1.19% of the holdings
- Return on equity
- 12.8% combined
- Net margin
- 3.5% combined
- Beta
- 0.60 weighted, vs S&P 500
JDOC valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| JDOC | 42.1 | 17.9 | 1.48 | 5.39 | 1.19% | 12.8% | 3.5% | 7.1% |
| 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.
JDOC valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 94.9% | 42.1 | 17.9 | 1.48 | 5.39 | 1.19% | 12.8% |
JDOC 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 JDOC weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
JDOC largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ABBV | AbbVie Inc. | 8.49% | 80.6 | 16.4 | 7.8 | 2.42% | 6.14% |
| LLY | Eli Lilly and Company | 8.38% | 42.2 | 24.4 | 14.1 | 0.55% | 11.60% |
| UNH | UnitedHealth Group Incorporated | 5.57% | 25.8 | 16.6 | 0.8 | 2.31% | 12.60% |
| NOVN | Novartis AG | 4.65% | — | — | — | — | — |
| JNJ | Johnson & Johnson | 4.63% | 38.8 | 21.0 | 6.2 | 2.10% | 6.97% |
| MRK | Merck & Co., Inc. | 4.55% | 115.8 | 15.3 | 5.4 | 2.33% | 2.29% |
| TMO | Thermo Fisher Scientific Inc. | 4.49% | 37.1 | 24.2 | 5.5 | 0.27% | 7.06% |
| AZN | AstraZeneca PLC | 4.18% | — | — | — | — | — |
| DHR | Danaher Corporation | 2.96% | 40.8 | 23.8 | 6.4 | 0.70% | 4.23% |
| ISRG | Intuitive Surgical, Inc. | 2.62% | 48.9 | 33.3 | 13.7 | — | 3.13% |
| 0QIU | Novo Nordisk A/S Class B | 2.53% | — | — | — | — | — |
| IQV | IQVIA Holdings Inc. | 2.30% | 33.2 | 18.4 | 2.6 | — | 4.04% |
| SYK | Stryker Corporation | 2.08% | 30.5 | 16.5 | 4.4 | 1.19% | 3.98% |
| ARGX | Argen-X | 2.06% | — | — | — | — | — |
| COR | Cencora | 2.03% | 25.3 | 15.7 | 0.2 | 0.70% | 4.69% |
| 4502 | Takeda Pharmaceutical Co. Ltd. | 1.98% | — | — | — | — | — |
| ROP | Roche Holding AG | 1.94% | — | — | — | — | — |
| HUM | Humana Inc. | 1.91% | 39.1 | 24.3 | 0.3 | 0.86% | 2.86% |
| BMY | Bristol-Myers Squibb Company | 1.81% | 13.2 | 9.4 | 2.5 | 4.22% | 8.02% |
| REGN | Regeneron Pharmaceuticals, Inc. | 1.80% | 19.6 | 14.5 | 5.2 | 0.48% | 5.39% |
| BIIB | Biogen Inc. | 1.79% | 41.3 | 13.9 | 3.4 | — | 2.53% |
| EW | Edwards Lifesciences Corporation | 1.65% | 51.5 | 25.6 | 7.7 | — | 1.87% |
| CNC | Centene Corporation | 1.51% | — | 11.2 | 0.2 | — | −13.28% |
| HCA | HCA Healthcare, Inc. | 1.48% | 15.4 | 13.9 | 1.3 | 0.68% | 5.61% |
| TEVA | Teva Pharmaceutical Industries Ltd | 1.45% | — | — | — | — | — |
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 JDOC valuation
Adding up its 35 holdings with company data, JDOC trades at 42.1 times trailing earnings and 17.9 times analysts' forward estimates, with a price-to-book ratio of 5.39 and a dividend yield of 1.19%. Its earnings yield of 2.38% is 2.95 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 50.5% of the fund and earn 62.1% of its combined profit. Companies that lost money over the past year are 7.1% 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 73.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: JDOC chart, JDOC performance, JDOC holdings, JDOC dividends.
JDOC valuation FAQ
What is the P/E ratio of JDOC?
Based on its holdings, JDOC has a trailing P/E of 42.1 and a forward P/E of 17.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of JDOC?
The trailing earnings yield is 2.38% (1 ÷ P/E) and the forward earnings yield 5.59%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is JDOC more expensive than the S&P 500?
JDOC trades at 42.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.9 and 19.9.
What is the price-to-book ratio of JDOC?
The holdings of JDOC trade at 5.39 times book value, with a combined return on equity of 12.8%.