Legg Mason Low Volatility High Dividend ETF (LVHD) Valuation
LVHD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.7 trailing earnings
- Forward P/E
- 15.9 analyst estimates
- Price / sales
- 2.62
- Price / book
- 2.65
- EV / EBITDA
- 12.6
- Earnings yield
- 5.08% inverse of P/E
- Dividend yield
- 3.73% of the holdings
- Return on equity
- 13.5% combined
- Net margin
- 13.3% combined
- Beta
- 0.56 weighted, vs S&P 500
LVHD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| LVHD | 19.7 | 15.9 | 2.62 | 2.65 | 3.73% | 13.5% | 13.3% | 0.4% |
| 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.
LVHD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Utilities | 24.2% | 20.2 | 16.1 | 2.66 | 1.86 | 3.43% | 9.2% |
| Consumer Defensive | 21.6% | 22.6 | 16.1 | 2.14 | 6.38 | 3.53% | 28.2% |
| Real Estate | 14.0% | 23.9 | 22.9 | 5.82 | 1.79 | 5.29% | 7.5% |
| Financial Services | 8.6% | 10.9 | 10.1 | 2.36 | 1.46 | 4.29% | 13.4% |
| Consumer Cyclical | 7.6% | 21.2 | 18.2 | 2.08 | 11.00 | 3.00% | 51.9% |
| Industrials | 5.1% | 22.0 | 18.4 | 2.38 | 9.66 | 2.60% | 43.9% |
| Healthcare | 5.1% | 29.8 | 17.7 | 4.38 | 3.69 | 2.53% | 12.4% |
| Energy | 4.9% | 21.5 | 16.7 | 2.61 | 2.15 | 3.27% | 10.0% |
| Technology | 3.7% | 24.4 | 19.8 | 5.53 | 13.33 | 3.18% | 54.7% |
| Communication Services | 3.4% | 10.5 | 8.9 | 1.32 | 1.79 | 5.99% | 17.0% |
LVHD 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 LVHD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
LVHD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CVX | Chevron Corporation | 3.00% | 21.2 | 15.2 | 2.1 | 3.16% | 2.85% |
| KO | The Coca-Cola Company | 2.99% | 28.2 | 25.3 | 8.1 | 2.26% | 2.14% |
| JNJ | Johnson & Johnson | 2.79% | 38.8 | 21.0 | 6.2 | 2.10% | 1.45% |
| KMB | Kimberly-Clark Corporation | 2.72% | 20.8 | 13.1 | 2.1 | 4.85% | 2.64% |
| MO | Altria Group, Inc. | 2.71% | 15.8 | 11.9 | 6.1 | 5.91% | 3.45% |
| PG | The Procter & Gamble Company | 2.67% | 24.1 | 21.2 | 4.3 | 2.73% | 2.23% |
| VZ | Verizon Communications Inc. | 2.65% | 11.7 | 8.7 | 1.3 | 6.32% | 4.58% |
| USB | U.S. Bancorp | 2.60% | 11.4 | 10.4 | 3.3 | 3.68% | 4.59% |
| PEP | PepsiCo, Inc. | 2.48% | 16.5 | 14.9 | 1.8 | 4.50% | 3.02% |
| HD | The Home Depot, Inc. | 2.34% | 21.5 | 19.8 | 1.8 | 3.01% | 2.19% |
| DUK | Duke Energy Corporation | 2.34% | 18.3 | 15.9 | 2.9 | 3.57% | 2.57% |
| MDT | Medtronic plc | 2.31% | 23.3 | 14.9 | 3.2 | 3.04% | 2.00% |
| MCD | McDonald's Corporation | 2.30% | 19.7 | 17.1 | 6.2 | 3.18% | 2.34% |
| LMT | Lockheed Martin Corporation | 2.28% | 20.3 | 16.2 | 1.7 | 2.61% | 2.26% |
| MDLZ | Mondelez International, Inc. | 2.27% | 23.5 | 18.2 | 2.1 | 3.25% | 1.95% |
| SO | The Southern Company | 2.23% | 22.0 | 17.0 | 3.5 | 3.33% | 2.05% |
| KDP | Keurig Dr Pepper Inc. | 2.15% | 35.0 | 12.5 | 2.3 | 2.66% | 1.24% |
| ADP | Automatic Data Processing, Inc. | 2.13% | 26.4 | 22.0 | 5.2 | 2.35% | 1.62% |
| CL | Colgate-Palmolive Company | 2.00% | 37.1 | 21.0 | 3.6 | 2.25% | 1.09% |
| PNC | The PNC Financial Services Group, Inc. | 1.97% | 11.6 | 10.7 | 3.5 | 3.68% | 3.43% |
| KMI | Kinder Morgan, Inc. | 1.86% | 22.1 | 20.0 | 4.2 | 3.45% | 1.70% |
| EXC | Exelon Corporation | 1.85% | 16.0 | 13.7 | 1.8 | 3.86% | 2.33% |
| ITW | Illinois Tool Works Inc. | 1.76% | 24.7 | 21.9 | 4.7 | 2.53% | 1.44% |
| AEP | American Electric Power Company, Inc. | 1.69% | 22.0 | 17.2 | 3.0 | 2.99% | 1.55% |
| SYY | Sysco Corporation | 1.64% | 21.9 | 15.2 | 0.5 | 2.68% | 1.51% |
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 LVHD valuation
Adding up its 112 holdings with company data, LVHD trades at 19.7 times trailing earnings and 15.9 times analysts' forward estimates, with a price-to-book ratio of 2.65 and a dividend yield of 3.73%. Its earnings yield of 5.08% is 0.24 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 27.0% of the fund and earn 29.1% of its combined profit. By sector, Healthcare is the most expensive at 29.8 times earnings and Communication Services the cheapest at 10.5. Companies that lost money over the past year are 0.4% 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 99.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: LVHD chart, LVHD performance, LVHD holdings, LVHD dividends.
LVHD valuation FAQ
What is the P/E ratio of LVHD?
Based on its holdings, LVHD has a trailing P/E of 19.7 and a forward P/E of 15.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of LVHD?
The trailing earnings yield is 5.08% (1 ÷ P/E) and the forward earnings yield 6.27%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is LVHD more expensive than the S&P 500?
LVHD trades at 19.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.9 and 19.9.
What is the price-to-book ratio of LVHD?
The holdings of LVHD trade at 2.65 times book value, with a combined return on equity of 13.5%.
Which sector in LVHD has the highest P/E?
Healthcare has the highest P/E at 29.8 and Communication Services the lowest at 10.5.