Janus Henderson Transformational Growth ETF (JXX) Valuation
JXX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 57.5 trailing earnings
- Forward P/E
- 25.2 analyst estimates
- Price / sales
- 1.95
- Price / book
- 8.41
- EV / EBITDA
- 23.2
- Earnings yield
- 1.74% inverse of P/E
- Dividend yield
- 0.53% of the holdings
- Return on equity
- 14.6% combined
- Net margin
- 3.4% combined
- Beta
- 1.30 weighted, vs S&P 500
JXX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| JXX | 57.5 | 25.2 | 1.95 | 8.41 | 0.53% | 14.6% | 3.4% | 13.7% |
| 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.
JXX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.2% | 66.9 | 24.4 | 1.30 | 11.95 | 0.73% | 17.9% |
| Healthcare | 21.3% | 77.7 | 23.8 | 2.36 | 5.30 | 0.94% | 6.8% |
| Consumer Cyclical | 16.4% | 35.7 | 23.5 | 2.91 | 6.81 | 0.00% | 19.1% |
| Industrials | 15.2% | 82.4 | 32.0 | 3.21 | 15.91 | 0.07% | 19.3% |
| Financial Services | 4.9% | 29.9 | 25.8 | 11.64 | 4.74 | 0.64% | 15.8% |
JXX 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 JXX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
JXX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 11.37% | 26.7 | 21.4 | 0.4 | 0.91% | 26.68% |
| AMZN | Amazon.com, Inc. | 8.26% | 20.1 | 23.6 | 3.5 | — | 25.78% |
| ORCL | Oracle Corporation | 7.73% | 20.1 | 17.8 | 5.4 | 1.56% | 24.14% |
| AVGO | Broadcom Inc. | 6.08% | 43.3 | 19.4 | 17.6 | 0.79% | 8.82% |
| UNH | UnitedHealth Group Incorporated | 5.00% | 25.8 | 16.6 | 0.8 | 2.31% | 12.16% |
| FPS | Forgent Power Solutions, Inc. | 4.65% | 105.6 | 32.6 | 7.1 | — | 2.77% |
| DHR | Danaher Corporation | 4.58% | 40.8 | 23.8 | 6.4 | 0.70% | 7.04% |
| HWM | Howmet Aerospace Inc. | 4.44% | 47.6 | 36.0 | 9.7 | 0.25% | 5.86% |
| AMD | Advanced Micro Devices, Inc. | 4.42% | 134.9 | 39.5 | 20.9 | — | 2.06% |
| BA | The Boeing Company | 4.23% | 67.9 | 49.5 | 1.6 | — | 3.91% |
| LITE | Lumentum Holdings Inc. | 3.86% | — | 42.9 | 24.8 | — | −27.32% |
| LLY | Eli Lilly and Company | 3.76% | 42.2 | 24.4 | 14.1 | 0.55% | 5.59% |
| DDOG | Datadog, Inc. | 3.70% | 494.2 | 84.7 | 22.4 | — | 0.47% |
| PCVX | Vaxcyte, Inc. | 3.38% | — | — | — | — | — |
| MELI | MercadoLibre, Inc. | 3.26% | 50.5 | 32.8 | 2.6 | — | 4.06% |
| MDGL | Madrigal Pharmaceuticals, Inc. | 2.99% | — | 78.1 | 8.1 | — | −5.36% |
| YNDX | Yandex NV | 2.65% | — | — | — | — | — |
| DASH | DoorDash, Inc. | 2.58% | 99.6 | 38.0 | 5.2 | — | 1.63% |
| HOOD | Robinhood Markets, Inc. | 2.47% | 43.6 | 45.0 | 18.0 | — | 3.56% |
| ICE | Intercontinental Exchange, Inc. | 2.46% | 22.8 | 18.1 | 8.6 | 1.29% | 6.79% |
| DKNG | DraftKings Inc. | 2.28% | — | 12.6 | 1.5 | — | −2.65% |
| LGN | Legence Corp. | 1.83% | — | 14.9 | 1.9 | — | −0.99% |
| RVMD | Revolution Medicines, Inc. | 1.59% | — | — | 9,035.1 | — | −4.96% |
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 JXX valuation
Adding up its 21 holdings with company data, JXX trades at 57.5 times trailing earnings and 25.2 times analysts' forward estimates, with a price-to-book ratio of 8.41 and a dividend yield of 0.53%. Its earnings yield of 1.74% is 3.59 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 60.8% of the fund and earn 119.2% of its combined profit. By sector, Industrials is the most expensive at 82.4 times earnings and Financial Services the cheapest at 29.9. Companies that lost money over the past year are 13.7% 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 93.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: JXX chart, JXX performance, JXX holdings.
JXX valuation FAQ
What is the P/E ratio of JXX?
Based on its holdings, JXX has a trailing P/E of 57.5 and a forward P/E of 25.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of JXX?
The trailing earnings yield is 1.74% (1 ÷ P/E) and the forward earnings yield 3.97%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is JXX more expensive than the S&P 500?
JXX trades at 57.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 25.2 and 19.9.
What is the price-to-book ratio of JXX?
The holdings of JXX trade at 8.41 times book value, with a combined return on equity of 14.6%.
Which sector in JXX has the highest P/E?
Industrials has the highest P/E at 82.4 and Financial Services the lowest at 29.9.