SPDR S&P 400 Mid Cap Value ETF (MDYV) Valuation
MDYV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.0 trailing earnings
- Forward P/E
- 12.3 analyst estimates
- Price / sales
- 1.00
- Price / book
- 1.97
- EV / EBITDA
- 9.9
- Earnings yield
- 5.01% inverse of P/E
- Dividend yield
- 1.91% of the holdings
- Return on equity
- 9.8% combined
- Net margin
- 5.0% combined
- Beta
- 0.98 weighted, vs S&P 500
MDYV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MDYV | 20.0 | 12.3 | 1.00 | 1.97 | 1.91% | 9.8% | 5.0% | 8.0% |
| 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.
MDYV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 21.2% | 12.4 | 9.3 | 1.78 | 1.36 | 2.49% | 10.9% |
| Industrials | 17.1% | 34.7 | 14.8 | 0.86 | 3.00 | 1.22% | 8.7% |
| Consumer Cyclical | 13.5% | 16.2 | 11.8 | 0.67 | 2.31 | 1.46% | 14.2% |
| Technology | 9.9% | 29.2 | 13.2 | 0.84 | 3.39 | 0.42% | 11.6% |
| Real Estate | 8.9% | 28.5 | 19.8 | 2.95 | 1.68 | 4.94% | 5.9% |
| Energy | 8.2% | 13.4 | 9.7 | 1.19 | 1.40 | 1.96% | 10.4% |
| Basic Materials | 5.7% | 22.9 | 13.4 | 1.05 | 2.21 | 1.70% | 9.7% |
| Consumer Defensive | 5.0% | 23.7 | 13.9 | 0.37 | 2.90 | 0.55% | 12.2% |
| Healthcare | 4.3% | n/m | 18.0 | 1.07 | 2.65 | 0.22% | −3.6% |
| Utilities | 4.3% | 18.6 | 14.2 | 2.33 | 1.56 | 3.66% | 8.4% |
| Communication Services | 0.8% | 18.8 | 8.8 | 1.34 | 1.44 | 2.79% | 7.7% |
MDYV 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 MDYV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MDYV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| USFD | US Foods Holding Corp. | 1.36% | 31.4 | 17.0 | 0.5 | — | 0.89% |
| YZ8 | Permian Resources Corporation | 1.23% | — | — | — | — | — |
| RS | Reliance Steel & Aluminum Co. | 1.21% | 23.9 | 16.4 | 1.3 | 1.22% | 1.04% |
| SNX | TD SYNNEX Corporation | 1.13% | 15.0 | 12.7 | 0.3 | 0.78% | 1.55% |
| DINO | HF Sinclair Corporation | 1.12% | 11.9 | 10.0 | 0.7 | 1.68% | 1.94% |
| OVV | Ovintiv Inc. | 1.08% | 19.3 | 9.0 | 2.0 | 1.73% | 1.15% |
| RGA | Reinsurance Group of America, Incorporated | 1.04% | 11.7 | 7.7 | 0.7 | 1.47% | 1.83% |
| SN | SharkNinja, Inc. | 1.01% | 38.1 | 23.1 | 3.8 | — | 0.55% |
| WCC | WESCO International, Inc. | 0.97% | 23.6 | 18.2 | 0.7 | 0.59% | 0.85% |
| PFGC | Performance Food Group Company | 0.95% | 42.7 | 16.6 | 0.2 | — | 0.46% |
| PNFP | Pinnacle Financial Partners, Inc. | 0.90% | 13.0 | 8.2 | 4.3 | 2.11% | 1.42% |
| AAYA | ANNALY CAP.MGMT DL -01 | 0.83% | — | — | — | — | — |
| JLL | Jones Lang LaSalle Incorporated | 0.83% | 14.7 | 10.4 | 0.5 | — | 1.17% |
| UNM | Unum Group | 0.82% | 21.5 | 8.5 | 1.1 | 2.19% | 0.79% |
| BJ | BJ's Wholesale Club Holdings, Inc. | 0.81% | 21.7 | 19.2 | 0.6 | — | 0.77% |
| ARMK | Aramark | 0.80% | 38.7 | 21.5 | 0.7 | 0.87% | 0.43% |
| TOL | Toll Brothers, Inc. | 0.79% | 10.8 | 10.0 | 1.1 | 0.78% | 1.51% |
| CCK | Crown Holdings, Inc. | 0.75% | 16.4 | 12.1 | 0.9 | 1.15% | 0.94% |
| WTRG | Essential Utilities, Inc. | 0.73% | 20.8 | 16.8 | 4.5 | 3.53% | 0.73% |
| ENTG | Entegris, Inc. | 0.72% | 69.4 | 31.6 | 6.4 | 0.29% | 0.22% |
| WSO | Watsco, Inc. | 0.72% | 25.4 | 21.3 | 1.7 | 4.46% | 0.59% |
| AVTR | Avantor, Inc. | 0.71% | — | 16.9 | 1.7 | — | −0.75% |
| AR | Antero Resources Corporation | 0.70% | 11.1 | 9.0 | 2.1 | — | 1.30% |
| MOH | Molina Healthcare, Inc. | 0.66% | — | 18.9 | 0.3 | — | 0.01% |
| FHN | First Horizon Corporation | 0.66% | 16.6 | 10.0 | 3.6 | 2.97% | 0.82% |
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 MDYV valuation
Adding up its 290 holdings with company data, MDYV trades at 20.0 times trailing earnings and 12.3 times analysts' forward estimates, with a price-to-book ratio of 1.97 and a dividend yield of 1.91%. Its earnings yield of 5.01% is 0.32 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 11.1% of the fund and earn 11.7% of its combined profit. By sector, Industrials is the most expensive at 34.7 times earnings and Financial Services the cheapest at 12.4. Companies that lost money over the past year are 8.0% 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 96.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MDYV chart, MDYV performance, MDYV holdings, MDYV dividends.
MDYV valuation FAQ
What is the P/E ratio of MDYV?
Based on its holdings, MDYV has a trailing P/E of 20.0 and a forward P/E of 12.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MDYV?
The trailing earnings yield is 5.01% (1 ÷ P/E) and the forward earnings yield 8.11%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MDYV more expensive than the S&P 500?
MDYV trades at 20.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.3 and 19.9.
What is the price-to-book ratio of MDYV?
The holdings of MDYV trade at 1.97 times book value, with a combined return on equity of 9.8%.
Which sector in MDYV has the highest P/E?
Industrials has the highest P/E at 34.7 and Financial Services the lowest at 12.4.