Virtus Terranova U.S. Quality Momentum ETF (JOET) Valuation

NYSE Arca: JOETP/E, earnings yield and other ratios of the holdings combined.

JOET valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 22.8
Forward P/E: 17.9
Price / sales: 2.87
Price / book: 4.22
EV / EBITDA: 16.5
Earnings yield: 4.39%
Dividend yield: 1.11%
Return on equity: 18.5%
Net margin: 12.6%
Beta: 0.99

JOET valuation vs other stock ETFs

P/E (TTM)Forward P/E

JOET valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
JOET	22.8	17.9	2.87	4.22	1.11%	18.5%	12.6%	1.0%
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.

JOET valuation by sector

P/E (TTM)Forward P/E

JOET valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	27.3%	31.9	23.1	7.51	8.03	0.54%	25.2%
Industrials	15.7%	28.5	21.2	2.34	6.17	0.85%	21.7%
Financial Services	14.4%	11.4	11.4	2.36	2.12	1.69%	18.5%
Healthcare	12.9%	37.4	19.5	1.47	4.87	0.64%	13.0%
Energy	10.6%	19.9	14.2	2.94	2.71	2.46%	13.6%
Consumer Cyclical	6.2%	23.1	20.6	2.78	6.37	0.66%	27.6%
Basic Materials	2.5%	20.5	13.1	3.23	4.13	1.01%	20.1%
Utilities	2.4%	19.7	16.8	3.38	1.79	3.01%	9.1%
Consumer Defensive	2.4%	36.4	31.4	2.93	9.50	1.04%	26.1%
Communication Services	2.3%	17.5	14.7	3.09	4.14	0.48%	23.6%
Real Estate	1.5%	26.3	44.8	12.20	5.63	2.83%	21.5%

JOET earnings yield vs bond yields

JOET earnings yield (forward)

5.59%

JOET earnings yield (trailing)

4.39%

JOET dividend yield

1.11%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 JOET weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

JOET largest holdings: valuation

JOET largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
OKTA	Okta, Inc.	1.32%	112.8	54.3	10.7	—	0.27%
COP	ConocoPhillips	1.03%	19.4	12.7	2.7	2.29%	1.23%
MRVL	Marvell Technology, Inc.	1.02%	72.3	62.1	21.7	0.11%	0.33%
HPE	Hewlett Packard Enterprise Company	1.02%	28.4	13.6	1.7	1.03%	0.83%
A	Agilent Technologies, Inc.	1.00%	34.1	23.9	6.6	0.59%	0.68%
WAT	Waters Corporation	1.00%	110.6	24.8	9.2	—	0.21%
LNG	Cheniere Energy, Inc.	0.98%	21.9	13.5	2.9	0.77%	1.04%
GILD	Gilead Sciences, Inc.	0.98%	—	15.6	6.4	2.10%	−0.39%
FTNT	Fortinet, Inc.	0.97%	59.8	45.0	16.5	—	0.38%
NTAP	NetApp, Inc.	0.97%	28.7	21.4	5.4	1.02%	0.78%
WST	West Pharmaceutical Services, Inc.	0.97%	49.4	37.0	8.1	0.23%	0.45%
GRMN	Garmin Ltd.	0.96%	29.4	24.8	7.2	1.47%	0.76%
FOXA	Fox Corporation	0.96%	16.7	11.1	1.6	0.90%	1.33%
XOM	Exxon Mobil Corporation	0.95%	23.0	14.8	2.0	2.30%	0.96%
DVN	Devon Energy Corporation	0.94%	11.1	9.3	3.0	2.52%	1.98%
EXPD	Expeditors International of Washington, Inc.	0.94%	28.5	24.4	2.1	0.83%	0.77%
EOG	EOG Resources, Inc.	0.94%	12.3	10.1	3.1	2.58%	1.78%
TRGP	Targa Resources Corp.	0.92%	28.2	23.2	3.8	1.70%	0.76%
PANW	Palo Alto Networks, Inc.	0.92%	855.0	94.3	24.4	—	0.03%
NEM	Newmont Corporation	0.92%	15.0	11.6	4.8	0.88%	1.43%
ABNB	Airbnb, Inc.	0.92%	39.6	25.4	7.9	—	0.54%
AMD	Advanced Micro Devices, Inc.	0.91%	134.9	39.5	20.9	—	0.16%
REGN	Regeneron Pharmaceuticals, Inc.	0.90%	19.6	14.5	5.2	0.48%	1.07%
FANG	Diamondback Energy, Inc.	0.89%	38.8	10.0	3.5	2.16%	0.53%
KMI	Kinder Morgan, Inc.	0.89%	22.1	20.0	4.2	3.45%	0.94%

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 JOET valuation

Adding up its 123 holdings with company data, JOET trades at 22.8 times trailing earnings and 17.9 times analysts' forward estimates, with a price-to-book ratio of 4.22 and a dividend yield of 1.11%. Its earnings yield of 4.39% is 0.94 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 10.3% of the fund and earn 5.4% of its combined profit. By sector, Healthcare is the most expensive at 37.4 times earnings and Financial Services the cheapest at 11.4. Companies that lost money over the past year are 1.0% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

JOET valuation FAQ

What is the P/E ratio of JOET?

Based on its holdings, JOET has a trailing P/E of 22.8 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 JOET?

The trailing earnings yield is 4.39% (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 JOET more expensive than the S&P 500?

JOET trades at 22.8 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 JOET?

The holdings of JOET trade at 4.22 times book value, with a combined return on equity of 18.5%.

Which sector in JOET has the highest P/E?

Healthcare has the highest P/E at 37.4 and Financial Services the lowest at 11.4.