Federated Hermes Enhanced Income ETF (PAYR) Valuation
PAYR valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 18.1 trailing earnings
- Forward P/E
- 13.4 analyst estimates
- Price / sales
- 2.44
- Price / book
- 2.19
- EV / EBITDA
- 11.3
- Earnings yield
- 5.52% inverse of P/E
- Dividend yield
- 4.14% of the holdings
- Return on equity
- 12.1% combined
- Net margin
- 13.5% combined
- Beta
- 0.56 weighted, vs S&P 500
PAYR valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PAYR | 18.1 | 13.4 | 2.44 | 2.19 | 4.14% | 12.1% | 13.5% | 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.
PAYR valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Utilities | 15.8% | 20.8 | 15.6 | 2.84 | 1.83 | 3.56% | 8.8% |
| Financial Services | 15.3% | 12.8 | 11.4 | 3.95 | 1.58 | 3.49% | 12.3% |
| Consumer Defensive | 15.2% | 18.2 | 14.3 | 2.81 | 4.48 | 4.42% | 24.5% |
| Energy | 10.7% | 14.0 | 10.5 | 1.29 | 1.37 | 3.92% | 9.8% |
| Healthcare | 10.1% | 28.1 | 11.1 | 2.76 | 1.95 | 4.58% | 6.9% |
| Real Estate | 9.3% | 24.9 | 25.7 | 8.21 | 2.38 | 4.38% | 9.5% |
| Technology | 6.2% | 19.0 | 12.8 | 2.87 | 4.52 | 3.93% | 23.8% |
| Consumer Cyclical | 5.2% | 18.2 | 13.1 | 0.86 | 3.11 | 4.57% | 17.0% |
| Communication Services | 3.1% | 11.7 | 8.7 | 1.34 | 1.86 | 6.32% | 15.9% |
| Industrials | 0.6% | 25.4 | 21.3 | 1.68 | 4.33 | 4.46% | 17.1% |
PAYR 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 PAYR weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PAYR largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| USB | U.S. Bancorp | 3.87% | 11.4 | 10.4 | 3.3 | 3.68% | 7.30% |
| PAYX | Paychex, Inc. | 3.81% | 22.1 | 17.5 | 6.0 | 4.26% | 3.71% |
| TTE | TotalEnergies SE | 3.57% | 11.4 | 8.8 | 1.0 | 4.42% | 6.74% |
| MDT | Medtronic plc | 3.24% | 23.3 | 14.9 | 3.2 | 3.04% | 3.01% |
| VZ | Verizon Communications Inc. | 3.10% | 11.7 | 8.7 | 1.3 | 6.32% | 5.74% |
| BTI | British American Tobacco p.l.c. | 3.03% | 15.4 | 10.7 | 5.0 | 5.57% | 4.26% |
| PFE | Pfizer Inc. | 2.91% | 38.9 | 9.7 | 2.6 | 5.81% | 1.62% |
| SNY | Sanofi | 2.78% | 21.4 | 8.6 | 2.0 | 5.96% | 2.80% |
| RF | Regions Financial Corporation | 2.76% | 11.2 | 9.4 | 3.2 | 4.39% | 5.31% |
| ENB | Enbridge Inc | 2.73% | — | — | — | — | — |
| CME | CME Group Inc. | 2.71% | 24.9 | 21.9 | 15.6 | 1.77% | 2.35% |
| KIM | Kimco Realty Corporation | 2.63% | 27.0 | 27.5 | 7.0 | 4.89% | 2.10% |
| WEC | WEC Energy Group, Inc. | 2.54% | 21.1 | 16.9 | 3.5 | 3.50% | 2.59% |
| FE | FirstEnergy Corp. | 2.53% | 24.6 | 14.7 | 1.7 | 4.03% | 2.22% |
| PEP | PepsiCo, Inc. | 2.44% | 16.5 | 14.9 | 1.8 | 4.50% | 3.19% |
| PLD | Prologis, Inc. | 2.37% | 27.7 | 29.2 | 12.4 | 3.40% | 1.85% |
| CVX | Chevron Corporation | 2.35% | 21.2 | 15.2 | 2.1 | 3.16% | 2.39% |
| PNC | The PNC Financial Services Group, Inc. | 2.32% | 11.6 | 10.7 | 3.5 | 3.68% | 4.33% |
| AMCR | Amcor plc | 2.25% | 18.4 | 10.6 | 0.9 | 5.93% | 2.64% |
| MDLZ | Mondelez International, Inc. | 2.25% | 23.5 | 18.2 | 2.1 | 3.25% | 2.07% |
| KMB | Kimberly-Clark Corporation | 2.17% | 20.8 | 13.1 | 2.1 | 4.85% | 2.25% |
| AMT | American Tower Corporation | 2.16% | 25.5 | 24.6 | 7.9 | 3.86% | 1.83% |
| EVRG | Evergy, Inc. | 2.16% | 21.2 | 19.5 | 3.2 | 3.34% | 2.20% |
| NGG | National Grid plc | 2.15% | 18.5 | 12.6 | 4.6 | 3.99% | 2.51% |
| TRP | TC Energy Corp | 2.09% | — | — | — | — | — |
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 PAYR valuation
Adding up its 42 holdings with company data, PAYR trades at 18.1 times trailing earnings and 13.4 times analysts' forward estimates, with a price-to-book ratio of 2.19 and a dividend yield of 4.14%. Its earnings yield of 5.52% is 0.19 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 31.8% of the fund and earn 42.8% of its combined profit. By sector, Healthcare is the most expensive at 28.1 times earnings and Communication Services the cheapest at 11.7. 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 91.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PAYR chart, PAYR performance, PAYR holdings, PAYR dividends.
PAYR valuation FAQ
What is the P/E ratio of PAYR?
Based on its holdings, PAYR has a trailing P/E of 18.1 and a forward P/E of 13.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PAYR?
The trailing earnings yield is 5.52% (1 ÷ P/E) and the forward earnings yield 7.48%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PAYR more expensive than the S&P 500?
PAYR trades at 18.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.4 and 19.9.
What is the price-to-book ratio of PAYR?
The holdings of PAYR trade at 2.19 times book value, with a combined return on equity of 12.1%.
Which sector in PAYR has the highest P/E?
Healthcare has the highest P/E at 28.1 and Communication Services the lowest at 11.7.