Spinnaker ETF Series (KOOL) Valuation
KOOL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.5 trailing earnings
- Forward P/E
- 21.0 analyst estimates
- Price / sales
- 2.88
- Price / book
- 4.48
- EV / EBITDA
- 16.4
- Earnings yield
- 3.63% inverse of P/E
- Dividend yield
- 1.19% of the holdings
- Return on equity
- 16.3% combined
- Net margin
- 10.5% combined
- Beta
- 1.12 weighted, vs S&P 500
KOOL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| KOOL | 27.5 | 21.0 | 2.88 | 4.48 | 1.19% | 16.3% | 10.5% | 5.4% |
| 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.
KOOL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 15.9% | 32.6 | 28.6 | 13.81 | 18.25 | 0.42% | 56.0% |
| Energy | 12.5% | 23.2 | 14.4 | 1.94 | 2.56 | 2.67% | 11.0% |
| Industrials | 11.0% | 50.4 | 38.0 | 4.50 | 11.27 | 0.25% | 22.4% |
| Communication Services | 7.1% | 20.6 | 22.5 | 8.60 | 7.07 | 0.28% | 34.2% |
| Consumer Defensive | 6.9% | 50.9 | 29.3 | 0.99 | 3.34 | 2.11% | 6.6% |
| Financial Services | 5.8% | 13.4 | 11.2 | 3.29 | 1.51 | 2.67% | 11.3% |
| Basic Materials | 4.9% | 65.5 | 18.9 | 4.42 | 4.90 | 1.59% | 7.5% |
| Consumer Cyclical | 4.2% | 20.1 | 23.6 | 3.48 | 4.87 | 0.00% | 24.2% |
| Healthcare | 3.4% | 27.6 | 18.2 | 1.03 | 4.12 | 1.01% | 14.9% |
| Utilities | 2.2% | 25.6 | 13.3 | 2.66 | 15.41 | 0.61% | 60.1% |
| Real Estate | 1.9% | 16.2 | 22.2 | 2.67 | 2.38 | 3.34% | 14.7% |
KOOL 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 KOOL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
KOOL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| XLV | The Select Sector SPDR Trust - The Health Care Select Sector SPDR Fund | 6.27% | — | — | — | — | — |
| NVDA | NVIDIA Corporation | 6.05% | 27.1 | 24.9 | 17.1 | 0.47% | 8.38% |
| QQQ | Invesco QQQ Trust | 4.94% | — | — | — | — | — |
| AAPL | Apple Inc. | 4.48% | 39.4 | 35.2 | 10.7 | 0.31% | 4.27% |
| PWR | Quanta Services, Inc. | 4.32% | 72.4 | 33.0 | 2.9 | 0.07% | 2.24% |
| AMZN | Amazon.com, Inc. | 4.21% | 20.1 | 23.6 | 3.5 | — | 7.85% |
| EFA | iShares Trust - iShares MSCI EAFE ETF | 4.11% | — | — | — | — | — |
| GOOGL | Alphabet Inc. | 3.72% | 17.1 | 22.8 | 9.3 | 0.26% | 8.15% |
| KMI | Kinder Morgan, Inc. | 3.43% | 22.1 | 20.0 | 4.2 | 3.45% | 5.83% |
| META | Meta Platforms, Inc. | 3.38% | 26.7 | 22.1 | 7.9 | 0.30% | 4.74% |
| MSFT | Microsoft Corporation | 3.37% | 29.5 | 25.1 | 11.8 | 0.74% | 4.29% |
| VLO | Valero Energy Corporation | 3.12% | 18.5 | 10.2 | 1.0 | 1.08% | 6.31% |
| ENFR | Alerian Energy Infrastructure ETF | 3.11% | — | — | — | — | — |
| GEV | GE Vernova Inc. | 2.75% | 26.4 | 38.8 | 5.9 | 0.22% | 3.91% |
| CFG | Citizens Financial Group, Inc. | 2.62% | 13.8 | 9.9 | 3.3 | 2.90% | 7.11% |
| FCX | Freeport-McMoRan Inc. | 2.60% | 34.3 | 18.1 | 3.9 | 0.86% | 2.85% |
| CCO | Cameco Corp | 2.37% | — | — | — | — | — |
| APD | Air Products and Chemicals, Inc. | 2.27% | — | 19.9 | 5.3 | 2.42% | −0.06% |
| VST | Vistra Corp. | 2.21% | 25.6 | 13.3 | 2.7 | 0.61% | 3.23% |
| BKR | Baker Hughes Company | 2.03% | 17.9 | 18.0 | 2.0 | 1.65% | 4.25% |
| ANET | Arista Networks, Inc. | 1.98% | 55.8 | 39.2 | 21.2 | — | 1.33% |
| EL | The Estée Lauder Companies Inc. | 1.95% | 209.1 | 29.8 | 2.5 | 1.34% | 0.35% |
| HST | Host Hotels & Resorts, Inc. | 1.92% | 16.2 | 22.2 | 2.7 | 3.34% | 4.43% |
| LLY | Eli Lilly and Company | 1.91% | 42.2 | 24.4 | 14.1 | 0.55% | 1.70% |
| ADM | Archer-Daniels-Midland Company | 1.86% | 22.6 | 15.6 | 0.5 | 2.52% | 3.09% |
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 KOOL valuation
Adding up its 29 holdings with company data, KOOL trades at 27.5 times trailing earnings and 21.0 times analysts' forward estimates, with a price-to-book ratio of 4.48 and a dividend yield of 1.19%. Its earnings yield of 3.63% is 1.69 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 44.9% of the fund and earn 56.0% of its combined profit. By sector, Basic Materials is the most expensive at 65.5 times earnings and Financial Services the cheapest at 13.4. Companies that lost money over the past year are 5.4% 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 74.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: KOOL chart, KOOL performance, KOOL holdings, KOOL dividends.
KOOL valuation FAQ
What is the P/E ratio of KOOL?
Based on its holdings, KOOL has a trailing P/E of 27.5 and a forward P/E of 21.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of KOOL?
The trailing earnings yield is 3.63% (1 ÷ P/E) and the forward earnings yield 4.76%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is KOOL more expensive than the S&P 500?
KOOL trades at 27.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.0 and 19.9.
What is the price-to-book ratio of KOOL?
The holdings of KOOL trade at 4.48 times book value, with a combined return on equity of 16.3%.
Which sector in KOOL has the highest P/E?
Basic Materials has the highest P/E at 65.5 and Financial Services the lowest at 13.4.