Nuveen Dividend Growth Fund ETF Class (NUDG) Valuation
NUDG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.4 trailing earnings
- Forward P/E
- 20.0 analyst estimates
- Price / sales
- 2.59
- Price / book
- 5.68
- EV / EBITDA
- 16.6
- Earnings yield
- 3.79% inverse of P/E
- Dividend yield
- 1.56% of the holdings
- Return on equity
- 21.5% combined
- Net margin
- 9.8% combined
- Beta
- 0.90 weighted, vs S&P 500
NUDG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| NUDG | 26.4 | 20.0 | 2.59 | 5.68 | 1.56% | 21.5% | 9.8% | 0.0% |
| 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.
NUDG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 31.6% | 34.7 | 24.6 | 2.29 | 12.83 | 0.71% | 37.0% |
| Financial Services | 13.1% | 20.9 | 16.7 | 5.16 | 4.20 | 1.52% | 20.1% |
| Healthcare | 9.5% | 38.7 | 16.5 | 1.65 | 3.90 | 1.91% | 10.1% |
| Consumer Cyclical | 9.2% | 25.6 | 18.2 | 1.90 | 7.29 | 2.38% | 28.5% |
| Industrials | 8.2% | 20.7 | 22.3 | 3.31 | 6.50 | 1.39% | 31.4% |
| Consumer Defensive | 5.7% | 27.5 | 21.9 | 2.18 | 8.71 | 2.66% | 31.7% |
| Communication Services | 5.2% | 16.8 | 17.1 | 4.07 | 4.89 | 1.11% | 29.1% |
| Utilities | 4.0% | 19.3 | 17.3 | 4.45 | 2.57 | 3.29% | 13.3% |
| Energy | 3.6% | 22.2 | 15.0 | 2.07 | 2.33 | 2.70% | 10.5% |
| Basic Materials | 2.2% | 32.2 | 23.6 | 6.48 | 5.48 | 1.28% | 17.0% |
| Real Estate | 2.0% | 27.7 | 29.2 | 12.36 | 2.37 | 3.40% | 8.6% |
NUDG 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 NUDG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
NUDG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 7.75% | 29.5 | 25.1 | 11.8 | 0.74% | 7.36% |
| AAPL | Apple Inc. | 6.52% | 39.4 | 35.2 | 10.7 | 0.31% | 4.64% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 4.87% | 26.7 | 21.4 | 0.4 | 0.91% | 5.10% |
| AVGO | Broadcom Inc. | 4.79% | 43.3 | 19.4 | 17.6 | 0.79% | 3.10% |
| APH | Amphenol Corporation | 3.89% | 39.7 | 24.6 | 6.7 | 0.63% | 2.74% |
| GOOG | Alphabet Inc. | 3.57% | 16.9 | 21.8 | 9.2 | 0.26% | 5.91% |
| JPM | JPMorgan Chase & Co. | 3.48% | 14.2 | 13.5 | 4.7 | 1.94% | 6.84% |
| MA | Mastercard Incorporated | 2.40% | 34.0 | 24.2 | 15.4 | 0.56% | 1.98% |
| ETN | Eaton Corporation plc | 2.37% | 39.8 | 27.6 | 5.1 | 1.12% | 1.66% |
| LIN | Linde plc | 2.22% | 32.2 | 23.6 | 6.5 | 1.28% | 1.94% |
| TJX | The TJX Companies, Inc. | 2.22% | 27.3 | 24.9 | 2.6 | 1.30% | 2.28% |
| NEE | NextEra Energy, Inc. | 2.19% | 17.9 | 17.7 | 5.8 | 3.12% | 3.42% |
| BLK | BlackRock, Inc. | 2.13% | 25.8 | 16.4 | 6.5 | 2.02% | 2.31% |
| AXP | American Express Company | 2.08% | 19.0 | 15.1 | 3.0 | 1.21% | 3.06% |
| ELV | Elevance Health Inc. | 2.04% | 19.0 | 13.7 | 0.5 | 1.61% | 3.01% |
| PM | Philip Morris International Inc. | 2.04% | 29.5 | 20.9 | 7.5 | 3.12% | 1.93% |
| MRK | Merck & Co., Inc. | 1.98% | 115.8 | 15.3 | 5.4 | 2.33% | 0.48% |
| PLD | Prologis, Inc. | 1.96% | 27.7 | 29.2 | 12.4 | 3.40% | 1.98% |
| MSI | Motorola Solutions, Inc. | 1.92% | 36.5 | 23.9 | 6.3 | 1.05% | 1.48% |
| XOM | Exxon Mobil Corporation | 1.92% | 23.0 | 14.8 | 2.0 | 2.30% | 2.34% |
| ABBV | AbbVie Inc. | 1.90% | 80.6 | 16.4 | 7.8 | 2.42% | 0.66% |
| TT | Trane Technologies plc | 1.88% | 34.2 | 25.2 | 4.5 | 0.92% | 1.54% |
| ADI | Analog Devices, Inc. | 1.86% | 47.0 | 23.2 | 13.8 | 1.11% | 1.11% |
| WEC | WEC Energy Group, Inc. | 1.85% | 21.1 | 16.9 | 3.5 | 3.50% | 2.46% |
| ABT | Abbott Laboratories | 1.82% | 33.8 | 17.1 | 3.9 | 2.40% | 1.51% |
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 NUDG valuation
Adding up its 41 holdings with company data, NUDG trades at 26.4 times trailing earnings and 20.0 times analysts' forward estimates, with a price-to-book ratio of 5.68 and a dividend yield of 1.56%. Its earnings yield of 3.79% is 1.54 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 41.9% of the fund and earn 41.3% of its combined profit. By sector, Healthcare is the most expensive at 38.7 times earnings and Communication Services the cheapest at 16.8. Companies that lost money over the past year are 0.0% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: NUDG chart, NUDG holdings, NUDG dividends.
NUDG valuation FAQ
What is the P/E ratio of NUDG?
Based on its holdings, NUDG has a trailing P/E of 26.4 and a forward P/E of 20.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of NUDG?
The trailing earnings yield is 3.79% (1 ÷ P/E) and the forward earnings yield 5.00%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is NUDG more expensive than the S&P 500?
NUDG trades at 26.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.0 and 19.9.
What is the price-to-book ratio of NUDG?
The holdings of NUDG trade at 5.68 times book value, with a combined return on equity of 21.5%.
Which sector in NUDG has the highest P/E?
Healthcare has the highest P/E at 38.7 and Communication Services the lowest at 16.8.