VanEck Mortgage REIT Income ETF (MORT) Valuation
MORT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 9.5 trailing earnings
- Forward P/E
- 7.0 analyst estimates
- Price / sales
- 3.04
- Price / book
- 0.73
- EV / EBITDA
- 12.5
- Earnings yield
- 10.48% inverse of P/E
- Dividend yield
- 17.49% of the holdings
- Return on equity
- 7.6% combined
- Net margin
- 31.9% combined
- Beta
- 1.24 weighted, vs S&P 500
MORT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MORT | 9.5 | 7.0 | 3.04 | 0.73 | 17.49% | 7.6% | 31.9% | 11.4% |
| 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.
MORT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Real Estate | 72.7% | 9.5 | 7.0 | 3.04 | 0.73 | 17.49% | 7.6% |
MORT 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 MORT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MORT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAYA | ANNALY CAP.MGMT DL -01 | 18.79% | — | — | — | — | — |
| AGNC | AGNC Investment Corp. | 15.46% | 4.4 | 6.6 | 4.3 | 16.51% | 47.25% |
| NRZ | New Residential Investment Corp | 6.47% | — | — | — | — | — |
| STWD | Starwood Property Trust, Inc. | 6.46% | 20.8 | 10.0 | 7.9 | 15.41% | 4.23% |
| DX | Dynex Capital, Inc. | 5.21% | 3.8 | 7.9 | 5.4 | 18.66% | 18.72% |
| EFC | Ellington Financial Inc. | 4.90% | 7.2 | 9.1 | 3.5 | 13.39% | 9.20% |
| ARR | ARMOUR Residential REIT, Inc. | 4.44% | 3.3 | 5.1 | 3.8 | 21.82% | 18.57% |
| BXMT | Blackstone Mortgage Trust, Inc. | 4.20% | 131.6 | 57.1 | 4.4 | 17.85% | 0.43% |
| ORC | Orchid Island Capital, Inc. | 4.04% | 3.0 | 5.9 | 3.6 | 24.14% | 18.11% |
| LADR | Ladder Capital Corp | 3.83% | 11.4 | 2.4 | 4.2 | 10.10% | 4.58% |
| 7M20 | INVESCO MORTGA.CAP.DL-01 | 2.70% | — | — | — | — | — |
| CIM | Chimera Investment Corporation | 2.61% | — | 5.3 | 3.2 | 21.43% | −4.40% |
| ARI | Apollo Commercial Real Estate Finance, Inc. | 2.61% | 8.0 | 15.5 | 1.3 | 15.67% | 4.45% |
| M4ZA | MFA FINANCIAL NEW DL -01 | 2.54% | — | — | — | — | — |
| ADAM | New York Mortgage Trust, Inc. | 2.46% | 4.5 | 6.9 | 1.8 | 15.71% | 7.37% |
| PMT | PennyMac Mortgage Investment Trust | 1.94% | 4.8 | 8.4 | 0.9 | 23.12% | 5.49% |
| ABR | Arbor Realty Trust, Inc. | 1.94% | 29.9 | 11.7 | 1.1 | 34.94% | 0.88% |
| FBRT | Franklin BSP Realty Trust, Inc. | 1.87% | 14.1 | — | 1.8 | 12.88% | 1.80% |
| TRTX | TPG RE Finance Trust, Inc. | 1.78% | 10.5 | 11.1 | 3.4 | 16.58% | 2.30% |
| BRSP | BrightSpire Capital, Inc. | 1.62% | — | 15.6 | 1.4 | 17.34% | −1.44% |
| RWT | Redwood Trust, Inc. | 1.19% | — | 6.2 | 1.5 | 23.68% | −0.27% |
| KREF | KKR Real Estate Finance Trust Inc. | 1.07% | — | 11.7 | 326.4 | 6.90% | −8.17% |
| REFI | Chicago Atlantic Real Estate Finance, Inc. | 1.03% | 6.8 | 5.4 | 4.9 | 20.15% | 2.06% |
| RC | Ready Capital Corporation | 0.76% | — | 7.1 | 5.9 | 3.64% | −30.93% |
| ACRE | Ares Commercial Real Estate Corporation | 0.75% | — | 7.3 | 5.4 | 17.39% | −0.24% |
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 MORT valuation
Adding up its 21 holdings with company data, MORT trades at 9.5 times trailing earnings and 7.0 times analysts' forward estimates, with a price-to-book ratio of 0.73 and a dividend yield of 17.49%. Its earnings yield of 10.48% is 5.16 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 73.8% of the fund and earn 121.1% of its combined profit. Companies that lost money over the past year are 11.4% 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 69.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MORT chart, MORT performance, MORT holdings, MORT dividends.
MORT valuation FAQ
What is the P/E ratio of MORT?
Based on its holdings, MORT has a trailing P/E of 9.5 and a forward P/E of 7.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MORT?
The trailing earnings yield is 10.48% (1 ÷ P/E) and the forward earnings yield 14.27%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MORT more expensive than the S&P 500?
MORT trades at 9.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 7.0 and 19.9.
What is the price-to-book ratio of MORT?
The holdings of MORT trade at 0.73 times book value, with a combined return on equity of 7.6%.