iShares MSCI USA Momentum Factor ETF (MTUM) Valuation
MTUM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 30.4 trailing earnings
- Forward P/E
- 18.8 analyst estimates
- Price / sales
- 3.17
- Price / book
- 5.83
- EV / EBITDA
- 18.5
- Earnings yield
- 3.28% inverse of P/E
- Dividend yield
- 0.95% of the holdings
- Return on equity
- 19.2% combined
- Net margin
- 10.4% combined
- Beta
- 1.27 weighted, vs S&P 500
MTUM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MTUM | 30.4 | 18.8 | 3.17 | 5.83 | 0.95% | 19.2% | 10.4% | 5.8% |
| 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.
MTUM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 49.2% | 42.1 | 21.8 | 7.92 | 10.90 | 0.37% | 25.9% |
| Healthcare | 10.8% | 49.6 | 17.4 | 1.17 | 4.17 | 1.90% | 8.4% |
| Energy | 10.6% | 19.7 | 11.1 | 1.49 | 2.86 | 2.02% | 14.5% |
| Industrials | 10.2% | 32.2 | 25.3 | 3.92 | 9.57 | 0.78% | 29.8% |
| Financial Services | 5.8% | 11.8 | 12.1 | 2.50 | 2.05 | 2.01% | 17.4% |
| Communication Services | 4.8% | 17.0 | 22.3 | 9.30 | 6.75 | 0.26% | 39.7% |
| Consumer Defensive | 3.1% | 26.1 | 23.1 | 2.29 | 6.78 | 2.10% | 26.0% |
| Real Estate | 1.9% | 90.1 | 69.7 | 9.47 | 4.54 | 1.90% | 5.0% |
| Consumer Cyclical | 1.9% | 30.9 | 16.2 | 1.64 | 5.34 | 0.76% | 17.3% |
| Basic Materials | 1.0% | 20.4 | 11.3 | 1.47 | 2.74 | 1.30% | 13.4% |
| Utilities | 0.2% | 26.9 | 19.6 | 3.72 | 2.60 | 2.44% | 9.7% |
MTUM 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 MTUM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MTUM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMD | Advanced Micro Devices, Inc. | 5.65% | 134.9 | 39.5 | 20.9 | — | 1.28% |
| MU | Micron Technology, Inc. | 4.72% | 11.8 | 7.0 | 7.5 | 0.07% | 12.24% |
| INTC | Intel Corporation | 3.73% | — | 63.3 | 8.3 | — | −2.70% |
| CSCO | Cisco Systems, Inc. | 3.48% | 32.2 | 19.8 | 6.7 | 1.56% | 3.31% |
| JNJ | Johnson & Johnson | 3.48% | 38.8 | 21.0 | 6.2 | 2.10% | 2.75% |
| XOM | Exxon Mobil Corporation | 3.18% | 23.0 | 14.8 | 2.0 | 2.30% | 4.23% |
| PANW | Palo Alto Networks, Inc. | 2.77% | 855.0 | 94.3 | 24.4 | — | 0.10% |
| GOOGL | Alphabet Inc. | 2.63% | 17.1 | 22.8 | 9.3 | 0.26% | 4.72% |
| AMAT | Applied Materials, Inc. | 2.51% | 35.3 | 23.4 | 10.5 | 0.52% | 2.17% |
| SNDK | Sandisk Corporation | 2.45% | 17.6 | 8.0 | 9.3 | — | 4.26% |
| UNH | UnitedHealth Group Incorporated | 2.36% | 25.8 | 16.6 | 0.8 | 2.31% | 2.80% |
| GOOG | Alphabet Inc. | 2.17% | 16.9 | 21.8 | 9.2 | 0.26% | 3.93% |
| KO | The Coca-Cola Company | 2.06% | 28.2 | 25.3 | 8.1 | 2.26% | 2.24% |
| CAT | Caterpillar Inc. | 2.00% | 31.5 | 25.4 | 4.5 | 0.89% | 1.95% |
| MRK | Merck & Co., Inc. | 1.92% | 115.8 | 15.3 | 5.4 | 2.33% | 0.51% |
| LRCX | Lam Research Corporation | 1.89% | 45.8 | 33.7 | 14.2 | 0.50% | 1.26% |
| MRVL | Marvell Technology, Inc. | 1.88% | 72.3 | 62.1 | 21.7 | 0.11% | 0.79% |
| STX | Seagate Technology Holdings plc | 1.78% | 46.0 | 25.7 | 11.9 | 0.46% | 1.19% |
| CVX | Chevron Corporation | 1.76% | 21.2 | 15.2 | 2.1 | 3.16% | 2.55% |
| DELL | Dell Technologies Inc. | 1.75% | 26.3 | 21.3 | 1.9 | 0.56% | 2.04% |
| CRWD | CrowdStrike Holdings, Inc. | 1.70% | — | 208.3 | 43.1 | — | 0.01% |
| WDC | Western Digital Corporation | 1.56% | 12.3 | 22.8 | 9.6 | 0.18% | 3.87% |
| GEV | GE Vernova Inc. | 1.46% | 26.4 | 38.8 | 5.9 | 0.22% | 1.70% |
| MPC | Marathon Petroleum Corporation | 1.31% | 16.6 | 5.5 | 0.9 | 0.84% | 2.42% |
| TXN | Texas Instruments Incorporated | 1.29% | 42.1 | 27.5 | 13.0 | 2.20% | 0.94% |
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 MTUM valuation
Adding up its 125 holdings with company data, MTUM trades at 30.4 times trailing earnings and 18.8 times analysts' forward estimates, with a price-to-book ratio of 5.83 and a dividend yield of 0.95%. Its earnings yield of 3.28% is 2.04 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 34.6% of the fund and earn 32.4% of its combined profit. By sector, Real Estate is the most expensive at 90.1 times earnings and Financial Services the cheapest at 11.8. Companies that lost money over the past year are 5.8% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MTUM chart, MTUM performance, MTUM holdings, MTUM dividends.
MTUM valuation FAQ
What is the P/E ratio of MTUM?
Based on its holdings, MTUM has a trailing P/E of 30.4 and a forward P/E of 18.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MTUM?
The trailing earnings yield is 3.28% (1 ÷ P/E) and the forward earnings yield 5.32%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MTUM more expensive than the S&P 500?
MTUM trades at 30.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.8 and 19.9.
What is the price-to-book ratio of MTUM?
The holdings of MTUM trade at 5.83 times book value, with a combined return on equity of 19.2%.
Which sector in MTUM has the highest P/E?
Real Estate has the highest P/E at 90.1 and Financial Services the lowest at 11.8.