SPDR S&P 1500 Momentum Tilt ETF (MMTM) Valuation
MMTM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.9 trailing earnings
- Forward P/E
- 19.3 analyst estimates
- Price / sales
- 3.48
- Price / book
- 5.46
- EV / EBITDA
- 17.5
- Earnings yield
- 3.72% inverse of P/E
- Dividend yield
- 1.03% of the holdings
- Return on equity
- 20.3% combined
- Net margin
- 13.0% combined
- Beta
- 1.16 weighted, vs S&P 500
MMTM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MMTM | 26.9 | 19.3 | 3.48 | 5.46 | 1.03% | 20.3% | 13.0% | 3.3% |
| 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.
MMTM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 40.6% | 34.8 | 23.1 | 8.65 | 13.85 | 0.43% | 39.8% |
| Healthcare | 12.1% | 44.1 | 17.6 | 2.07 | 5.73 | 1.46% | 13.0% |
| Financial Services | 9.3% | 14.5 | 13.4 | 2.73 | 2.04 | 1.69% | 14.1% |
| Communication Services | 8.9% | 18.1 | 20.1 | 6.03 | 5.56 | 0.62% | 30.7% |
| Industrials | 8.0% | 29.7 | 22.2 | 2.60 | 6.18 | 1.01% | 20.8% |
| Energy | 6.0% | 19.6 | 12.4 | 1.67 | 2.48 | 2.24% | 12.7% |
| Consumer Cyclical | 5.3% | 24.3 | 19.9 | 2.04 | 5.02 | 0.62% | 20.7% |
| Consumer Defensive | 4.1% | 27.8 | 20.7 | 1.75 | 7.04 | 2.35% | 25.3% |
| Basic Materials | 1.9% | 27.6 | 15.4 | 2.42 | 3.29 | 1.35% | 11.9% |
| Real Estate | 1.8% | 34.9 | 35.2 | 6.46 | 2.95 | 3.39% | 8.5% |
| Utilities | 0.8% | 18.3 | 15.6 | 2.71 | 1.92 | 3.32% | 10.5% |
MMTM 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 MMTM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MMTM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 9.63% | 39.4 | 35.2 | 10.7 | 0.31% | 6.68% |
| NVDA | NVIDIA Corporation | 7.27% | 27.1 | 24.9 | 17.1 | 0.47% | 7.33% |
| GOOGL | Alphabet Inc. | 3.57% | 17.1 | 22.8 | 9.3 | 0.26% | 5.70% |
| MU | Micron Technology, Inc. | 2.83% | 11.8 | 7.0 | 7.5 | 0.07% | 6.53% |
| GOOG | Alphabet Inc. | 2.60% | 16.9 | 21.8 | 9.2 | 0.26% | 4.19% |
| MSFT | Microsoft Corporation | 2.56% | 29.5 | 25.1 | 11.8 | 0.74% | 2.37% |
| AMZN | Amazon.com, Inc. | 2.44% | 20.1 | 23.6 | 3.5 | — | 3.32% |
| LLY | Eli Lilly and Company | 2.31% | 42.2 | 24.4 | 14.1 | 0.55% | 1.50% |
| AMD | Advanced Micro Devices, Inc. | 2.23% | 134.9 | 39.5 | 20.9 | — | 0.45% |
| META | Meta Platforms, Inc. | 1.87% | 26.7 | 22.1 | 7.9 | 0.30% | 1.90% |
| XOM | Exxon Mobil Corporation | 1.74% | 23.0 | 14.8 | 2.0 | 2.30% | 2.06% |
| JNJ | Johnson & Johnson | 1.46% | 38.8 | 21.0 | 6.2 | 2.10% | 1.03% |
| INTC | Intel Corporation | 1.22% | — | 63.3 | 8.3 | — | −0.79% |
| BRK.B | Berkshire Hathaway Inc. | 1.10% | 13.4 | 22.7 | 3.0 | — | 2.24% |
| CSCO | Cisco Systems, Inc. | 1.09% | 32.2 | 19.8 | 6.7 | 1.56% | 0.92% |
| CVX | Chevron Corporation | 0.95% | 21.2 | 15.2 | 2.1 | 3.16% | 1.22% |
| JPM | JPMorgan Chase & Co. | 0.93% | 14.2 | 13.5 | 4.7 | 1.94% | 1.79% |
| MRK | Merck & Co., Inc. | 0.92% | 115.8 | 15.3 | 5.4 | 2.33% | 0.22% |
| ABBV | AbbVie Inc. | 0.90% | 80.6 | 16.4 | 7.8 | 2.42% | 0.31% |
| LRCX | Lam Research Corporation | 0.88% | 45.8 | 33.7 | 14.2 | 0.50% | 0.52% |
| AMAT | Applied Materials, Inc. | 0.83% | 35.3 | 23.4 | 10.5 | 0.52% | 0.64% |
| AVGO | Broadcom Inc. | 0.80% | 43.3 | 19.4 | 17.6 | 0.79% | 0.51% |
| KO | The Coca-Cola Company | 0.77% | 28.2 | 25.3 | 8.1 | 2.26% | 0.75% |
| PM | Philip Morris International Inc. | 0.76% | 29.5 | 20.9 | 7.5 | 3.12% | 0.70% |
| CAT | Caterpillar Inc. | 0.75% | 31.5 | 25.4 | 4.5 | 0.89% | 0.65% |
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 MMTM valuation
Adding up its 1,420 holdings with company data, MMTM trades at 26.9 times trailing earnings and 19.3 times analysts' forward estimates, with a price-to-book ratio of 5.46 and a dividend yield of 1.03%. Its earnings yield of 3.72% is 1.61 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 37.3% of the fund and earn 40.0% of its combined profit. By sector, Healthcare is the most expensive at 44.1 times earnings and Financial Services the cheapest at 14.5. Companies that lost money over the past year are 3.3% 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 99.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MMTM chart, MMTM performance, MMTM holdings, MMTM dividends.
MMTM valuation FAQ
What is the P/E ratio of MMTM?
Based on its holdings, MMTM has a trailing P/E of 26.9 and a forward P/E of 19.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MMTM?
The trailing earnings yield is 3.72% (1 ÷ P/E) and the forward earnings yield 5.17%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MMTM more expensive than the S&P 500?
MMTM trades at 26.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.3 and 19.9.
What is the price-to-book ratio of MMTM?
The holdings of MMTM trade at 5.46 times book value, with a combined return on equity of 20.3%.
Which sector in MMTM has the highest P/E?
Healthcare has the highest P/E at 44.1 and Financial Services the lowest at 14.5.