Manzil Russell Halal USA Broad Market ETF (MNZL) Valuation

NASDAQ: MNZLP/E, earnings yield and other ratios of the holdings combined.

MNZL valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 35.7
Forward P/E: 21.2
Price / sales: 3.86
Price / book: 7.42
EV / EBITDA: 21.4
Earnings yield: 2.81%
Dividend yield: 0.92%
Return on equity: 20.8%
Net margin: 10.8%
Beta: 1.14

MNZL valuation vs other stock ETFs

P/E (TTM)Forward P/E

MNZL valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
MNZL	35.7	21.2	3.86	7.42	0.92%	20.8%	10.8%	3.7%
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.

MNZL valuation by sector

P/E (TTM)Forward P/E

MNZL valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	47.1%	38.9	22.6	8.12	13.71	0.38%	35.2%
Healthcare	18.6%	43.4	19.2	2.81	6.16	1.28%	14.2%
Industrials	11.2%	29.0	20.7	2.57	5.96	1.20%	20.5%
Consumer Cyclical	9.6%	38.1	27.5	2.56	8.15	0.96%	21.4%
Basic Materials	3.7%	25.8	16.8	2.88	3.73	1.52%	14.5%
Consumer Defensive	3.7%	24.7	18.4	2.07	4.98	2.94%	20.1%
Energy	2.8%	16.2	11.9	1.77	2.24	2.02%	13.8%
Real Estate	2.2%	51.1	36.7	4.55	2.99	2.23%	5.9%
Communication Services	0.5%	44.1	18.5	7.25	5.69	0.00%	12.9%
Utilities	0.3%	67.8	15.5	4.06	1.75	2.98%	2.6%
Financial Services	0.2%	118.3	125.0	1.58	2.89	0.00%	2.4%

MNZL earnings yield vs bond yields

MNZL earnings yield (forward)

4.73%

MNZL earnings yield (trailing)

2.81%

MNZL dividend yield

0.92%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 MNZL weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

MNZL largest holdings: valuation

MNZL largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	17.03%	39.4	35.2	10.7	0.31%	15.50%
AVGO	Broadcom Inc.	5.31%	43.3	19.4	17.6	0.79%	4.40%
TSLA	Tesla, Inc.	3.56%	328.4	158.7	13.5	—	0.39%
LLY	Eli Lilly and Company	3.48%	42.2	24.4	14.1	0.55%	2.96%
MU	Micron Technology, Inc.	3.29%	11.8	7.0	7.5	0.07%	9.98%
AMD	Advanced Micro Devices, Inc.	2.85%	134.9	39.5	20.9	—	0.76%
JNJ	Johnson & Johnson	2.20%	38.8	21.0	6.2	2.10%	2.04%
ABBV	AbbVie Inc.	1.73%	80.6	16.4	7.8	2.42%	0.77%
PG	The Procter & Gamble Company	1.35%	24.1	21.2	4.3	2.73%	2.01%
MRK	Merck & Co., Inc.	1.25%	115.8	15.3	5.4	2.33%	0.39%
HD	The Home Depot, Inc.	1.15%	21.5	19.8	1.8	3.01%	1.92%
AMAT	Applied Materials, Inc.	1.05%	35.3	23.4	10.5	0.52%	1.07%
PANW	Palo Alto Networks, Inc.	1.00%	855.0	94.3	24.4	—	0.04%
LRCX	Lam Research Corporation	0.96%	45.8	33.7	14.2	0.50%	0.75%
TXN	Texas Instruments Incorporated	0.85%	42.1	27.5	13.0	2.20%	0.72%
TMO	Thermo Fisher Scientific Inc.	0.83%	37.1	24.2	5.5	0.27%	0.80%
LIN	Linde plc	0.83%	32.2	23.6	6.5	1.28%	0.93%
CRWD	CrowdStrike Holdings, Inc.	0.77%	—	208.3	43.1	—	0.01%
GEV	GE Vernova Inc.	0.75%	26.4	38.8	5.9	0.22%	1.02%
CRM	Salesforce, Inc.	0.71%	22.0	14.0	4.5	0.73%	1.15%
MRVL	Marvell Technology, Inc.	0.68%	72.3	62.1	21.7	0.11%	0.34%
ADI	Analog Devices, Inc.	0.65%	47.0	23.2	13.8	1.11%	0.50%
GILD	Gilead Sciences, Inc.	0.64%	—	15.6	6.4	2.10%	−0.39%
QCOM	QUALCOMM Incorporated	0.64%	19.9	19.6	4.2	2.14%	1.15%
KLAC	KLA Corporation	0.63%	45.3	34.8	15.9	0.56%	0.50%

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 MNZL valuation

Adding up its 476 holdings with company data, MNZL trades at 35.7 times trailing earnings and 21.2 times analysts' forward estimates, with a price-to-book ratio of 7.42 and a dividend yield of 0.92%. Its earnings yield of 2.81% is 2.52 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 42.0% of the fund and earn 39.2% of its combined profit. By sector, Financial Services is the most expensive at 118.3 times earnings and Energy the cheapest at 16.2. Companies that lost money over the past year are 3.7% 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.

MNZL valuation FAQ

What is the P/E ratio of MNZL?

Based on its holdings, MNZL has a trailing P/E of 35.7 and a forward P/E of 21.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of MNZL?

The trailing earnings yield is 2.81% (1 ÷ P/E) and the forward earnings yield 4.73%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is MNZL more expensive than the S&P 500?

MNZL trades at 35.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.2 and 19.9.

What is the price-to-book ratio of MNZL?

The holdings of MNZL trade at 7.42 times book value, with a combined return on equity of 20.8%.

Which sector in MNZL has the highest P/E?

Financial Services has the highest P/E at 118.3 and Energy the lowest at 16.2.