JPMorgan Equity and Options Total Return ETF (JOYT) Valuation
JOYT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.2 trailing earnings
- Forward P/E
- 19.0 analyst estimates
- Price / sales
- 3.79
- Price / book
- 5.42
- EV / EBITDA
- 16.9
- Earnings yield
- 4.13% inverse of P/E
- Dividend yield
- 1.11% of the holdings
- Return on equity
- 22.4% combined
- Net margin
- 15.7% combined
- Beta
- 1.11 weighted, vs S&P 500
JOYT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| JOYT | 24.2 | 19.0 | 3.79 | 5.42 | 1.11% | 22.4% | 15.7% | 0.6% |
| 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.
JOYT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 38.0% | 29.6 | 21.5 | 8.98 | 11.92 | 0.54% | 40.3% |
| Financial Services | 11.6% | 15.6 | 13.6 | 3.10 | 2.62 | 1.57% | 16.8% |
| Healthcare | 9.6% | 29.2 | 16.2 | 2.29 | 4.88 | 1.63% | 16.7% |
| Communication Services | 9.3% | 17.7 | 18.9 | 4.50 | 4.42 | 0.72% | 24.9% |
| Consumer Cyclical | 8.6% | 25.0 | 24.5 | 3.27 | 8.06 | 0.53% | 32.3% |
| Industrials | 7.6% | 28.0 | 21.7 | 3.09 | 5.98 | 1.33% | 21.3% |
| Consumer Defensive | 4.6% | 27.5 | 20.9 | 1.26 | 7.07 | 2.30% | 25.7% |
| Energy | 4.0% | 18.5 | 12.9 | 2.38 | 2.45 | 2.36% | 13.3% |
| Utilities | 2.3% | 21.4 | 17.2 | 3.57 | 2.53 | 3.00% | 11.8% |
| Real Estate | 1.6% | 45.7 | 43.7 | 9.13 | 2.95 | 3.03% | 6.4% |
| Basic Materials | 1.0% | 27.1 | 16.3 | 2.45 | 2.65 | 0.83% | 9.8% |
JOYT 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 JOYT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
JOYT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 8.74% | 27.1 | 24.9 | 17.1 | 0.47% | 7.96% |
| AAPL | Apple Inc. | 7.73% | 39.4 | 35.2 | 10.7 | 0.31% | 4.84% |
| MSFT | Microsoft Corporation | 6.71% | 29.5 | 25.1 | 11.8 | 0.74% | 5.61% |
| GOOGL | Alphabet Inc. | 4.76% | 17.1 | 22.8 | 9.3 | 0.26% | 6.87% |
| AMZN | Amazon.com, Inc. | 4.03% | 20.1 | 23.6 | 3.5 | — | 4.94% |
| META | Meta Platforms, Inc. | 2.68% | 26.7 | 22.1 | 7.9 | 0.30% | 2.48% |
| AVGO | Broadcom Inc. | 2.19% | 43.3 | 19.4 | 17.6 | 0.79% | 1.25% |
| XOM | Exxon Mobil Corporation | 2.11% | 23.0 | 14.8 | 2.0 | 2.30% | 2.25% |
| MU | Micron Technology, Inc. | 2.09% | 11.8 | 7.0 | 7.5 | 0.07% | 4.35% |
| WFC | Wells Fargo & Company | 1.95% | 11.8 | 10.2 | 3.0 | 2.38% | 4.07% |
| MA | Mastercard Incorporated | 1.77% | 34.0 | 24.2 | 15.4 | 0.56% | 1.28% |
| LLY | Eli Lilly and Company | 1.56% | 42.2 | 24.4 | 14.1 | 0.55% | 0.91% |
| ABBV | AbbVie Inc. | 1.50% | 80.6 | 16.4 | 7.8 | 2.42% | 0.46% |
| AMD | Advanced Micro Devices, Inc. | 1.36% | 134.9 | 39.5 | 20.9 | — | 0.25% |
| PM | Philip Morris International Inc. | 1.35% | 29.5 | 20.9 | 7.5 | 3.12% | 1.13% |
| TSLA | Tesla, Inc. | 1.31% | 328.4 | 158.7 | 13.5 | — | 0.10% |
| CSX | CSX Corporation | 1.20% | 28.3 | 21.2 | 6.2 | 1.15% | 1.04% |
| BAC | Bank of America Corporation | 1.08% | 12.2 | 10.8 | 3.1 | 2.50% | 2.18% |
| RTX | RTX Corporation | 1.07% | 34.1 | 24.6 | 2.8 | 1.51% | 0.77% |
| BMY | Bristol-Myers Squibb Company | 0.98% | 13.2 | 9.4 | 2.5 | 4.22% | 1.83% |
| AXP | American Express Company | 0.98% | 19.0 | 15.1 | 3.0 | 1.21% | 1.27% |
| COP | ConocoPhillips | 0.96% | 19.4 | 12.7 | 2.7 | 2.29% | 1.21% |
| UNH | UnitedHealth Group Incorporated | 0.95% | 25.8 | 16.6 | 0.8 | 2.31% | 0.90% |
| EOG | EOG Resources, Inc. | 0.92% | 12.3 | 10.1 | 3.1 | 2.58% | 1.84% |
| LRCX | Lam Research Corporation | 0.90% | 45.8 | 33.7 | 14.2 | 0.50% | 0.48% |
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 JOYT valuation
Adding up its 113 holdings with company data, JOYT trades at 24.2 times trailing earnings and 19.0 times analysts' forward estimates, with a price-to-book ratio of 5.42 and a dividend yield of 1.11%. Its earnings yield of 4.13% is 1.19 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 43.0% of the fund and earn 44.6% of its combined profit. By sector, Real Estate is the most expensive at 45.7 times earnings and Financial Services the cheapest at 15.6. Companies that lost money over the past year are 0.6% 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.
Related: JOYT chart, JOYT performance, JOYT holdings, JOYT dividends.
JOYT valuation FAQ
What is the P/E ratio of JOYT?
Based on its holdings, JOYT has a trailing P/E of 24.2 and a forward P/E of 19.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of JOYT?
The trailing earnings yield is 4.13% (1 ÷ P/E) and the forward earnings yield 5.26%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is JOYT more expensive than the S&P 500?
JOYT trades at 24.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.0 and 19.9.
What is the price-to-book ratio of JOYT?
The holdings of JOYT trade at 5.42 times book value, with a combined return on equity of 22.4%.
Which sector in JOYT has the highest P/E?
Real Estate has the highest P/E at 45.7 and Financial Services the lowest at 15.6.