Formidable Fortress ETF (KONG) Valuation
KONG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.5 trailing earnings
- Forward P/E
- 21.8 analyst estimates
- Price / sales
- 5.68
- Price / book
- 5.92
- EV / EBITDA
- 16.2
- Earnings yield
- 3.64% inverse of P/E
- Dividend yield
- 0.76% of the holdings
- Return on equity
- 21.5% combined
- Net margin
- 20.7% combined
- Beta
- 0.98 weighted, vs S&P 500
KONG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| KONG | 27.5 | 21.8 | 5.68 | 5.92 | 0.76% | 21.5% | 20.7% | 0.0% |
| 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.
KONG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.3% | 36.6 | 23.7 | 8.77 | 7.60 | 0.46% | 20.8% |
| Industrials | 18.7% | 26.6 | 24.9 | 3.69 | 7.53 | 1.21% | 28.3% |
| Healthcare | 14.6% | 24.8 | 18.9 | 4.93 | 4.51 | 0.23% | 18.1% |
| Financial Services | 9.2% | 27.1 | 23.0 | 9.11 | 5.05 | 0.80% | 18.6% |
| Consumer Cyclical | 5.4% | 18.5 | 15.5 | 2.04 | 3.11 | 0.42% | 16.7% |
| Communication Services | 4.8% | 20.4 | 21.9 | 8.57 | 6.88 | 0.28% | 33.7% |
| Energy | 3.6% | 44.8 | 37.7 | 26.97 | 13.85 | 0.68% | 30.9% |
| Basic Materials | 2.3% | 15.0 | 11.6 | 4.85 | 3.80 | 0.88% | 25.4% |
| Real Estate | 2.1% | 11.5 | 11.8 | 7.11 | 2.29 | 8.35% | 20.0% |
| Consumer Defensive | 2.0% | 42.3 | 33.7 | 9.72 | 9.19 | 0.00% | 21.7% |
KONG 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 KONG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
KONG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NOW | ServiceNow, Inc. | 7.55% | 88.7 | 27.8 | 10.0 | — | 2.34% |
| MSFT | Microsoft Corporation | 6.44% | 29.5 | 25.1 | 11.8 | 0.74% | 6.00% |
| FFIV | F5, Inc. | 4.52% | 35.2 | 24.6 | 7.6 | — | 3.52% |
| FAST | Fastenal Company | 4.33% | 41.5 | 37.5 | 6.4 | 2.04% | 2.86% |
| NVDA | NVIDIA Corporation | 3.72% | 27.1 | 24.9 | 17.1 | 0.47% | 3.78% |
| EME | EMCOR Group, Inc. | 3.65% | 22.5 | 19.8 | 1.7 | 0.22% | 4.46% |
| TPL | Texas Pacific Land Corporation | 3.59% | 44.8 | 37.7 | 27.0 | 0.68% | 2.20% |
| SNPS | Synopsys, Inc. | 3.42% | 80.3 | 23.3 | 9.3 | — | 1.17% |
| CBOE | Cboe Global Markets, Inc. | 3.30% | 24.6 | 21.9 | 6.5 | 1.09% | 3.70% |
| IBKR | Interactive Brokers Group, Inc. | 3.23% | 31.6 | 28.2 | 20.0 | 0.42% | 2.81% |
| SNA | Snap-on Incorporated | 3.08% | 18.7 | 17.3 | 3.6 | 2.66% | 4.52% |
| GEV | GE Vernova Inc. | 3.02% | 26.4 | 38.8 | 5.9 | 0.22% | 3.14% |
| CHE | Chemed Corporation | 3.01% | 25.8 | 18.2 | 2.6 | 0.55% | 3.20% |
| SN | SharkNinja, Inc. | 2.90% | 38.1 | 23.1 | 3.8 | — | 2.09% |
| WST | West Pharmaceutical Services, Inc. | 2.88% | 49.4 | 37.0 | 8.1 | 0.23% | 1.60% |
| ANET | Arista Networks, Inc. | 2.87% | 55.8 | 39.2 | 21.2 | — | 1.41% |
| SPGI | S&P Global Inc. | 2.69% | 26.1 | 19.9 | 7.9 | 0.90% | 2.82% |
| GOOG | Alphabet Inc. | 2.58% | 16.9 | 21.8 | 9.2 | 0.26% | 4.18% |
| PHM | PulteGroup, Inc. | 2.48% | 11.6 | 11.2 | 1.3 | 0.92% | 5.87% |
| GGG | Graco Inc. | 2.48% | 25.8 | 22.1 | 5.9 | 1.44% | 2.64% |
| UTHR | United Therapeutics Corporation | 2.47% | 19.1 | 16.4 | 7.2 | — | 3.55% |
| JKHY | Jack Henry & Associates, Inc. | 2.42% | 21.9 | 20.2 | 4.2 | 1.59% | 3.03% |
| MPWR | Monolithic Power Systems, Inc. | 2.32% | 73.7 | 38.8 | 18.2 | 0.66% | 0.86% |
| REGN | Regeneron Pharmaceuticals, Inc. | 2.30% | 19.6 | 14.5 | 5.2 | 0.48% | 3.23% |
| NEM | Newmont Corporation | 2.29% | 15.0 | 11.6 | 4.8 | 0.88% | 4.20% |
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 KONG valuation
Adding up its 34 holdings with company data, KONG trades at 27.5 times trailing earnings and 21.8 times analysts' forward estimates, with a price-to-book ratio of 5.92 and a dividend yield of 0.76%. Its earnings yield of 3.64% is 1.69 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 43.8% of the fund and earn 32.8% of its combined profit. By sector, Energy is the most expensive at 44.8 times earnings and Real Estate the cheapest at 11.5. Companies that lost money over the past year are 0.0% 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.
Related: KONG chart, KONG performance, KONG holdings, KONG dividends.
KONG valuation FAQ
What is the P/E ratio of KONG?
Based on its holdings, KONG has a trailing P/E of 27.5 and a forward P/E of 21.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of KONG?
The trailing earnings yield is 3.64% (1 ÷ P/E) and the forward earnings yield 4.59%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is KONG more expensive than the S&P 500?
KONG trades at 27.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.8 and 19.9.
What is the price-to-book ratio of KONG?
The holdings of KONG trade at 5.92 times book value, with a combined return on equity of 21.5%.
Which sector in KONG has the highest P/E?
Energy has the highest P/E at 44.8 and Real Estate the lowest at 11.5.