Pictet AI Enhanced US Equity ETF (PQUS) Valuation
PQUS valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.8 trailing earnings
- Forward P/E
- 19.7 analyst estimates
- Price / sales
- 3.36
- Price / book
- 5.35
- EV / EBITDA
- 18.2
- Earnings yield
- 3.87% inverse of P/E
- Dividend yield
- 1.04% of the holdings
- Return on equity
- 20.7% combined
- Net margin
- 13.0% combined
- Beta
- 1.15 weighted, vs S&P 500
PQUS valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PQUS | 25.8 | 19.7 | 3.36 | 5.35 | 1.04% | 20.7% | 13.0% | 1.8% |
| 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.
PQUS valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 35.7% | 32.9 | 24.0 | 9.74 | 13.17 | 0.60% | 40.1% |
| Financial Services | 11.0% | 14.7 | 14.1 | 3.22 | 1.98 | 1.53% | 13.5% |
| Healthcare | 9.3% | 31.5 | 15.9 | 1.25 | 5.05 | 1.54% | 16.0% |
| Communication Services | 9.0% | 18.1 | 17.9 | 4.50 | 4.85 | 0.99% | 26.8% |
| Consumer Cyclical | 7.7% | 37.0 | 21.5 | 1.90 | 5.31 | 0.67% | 14.3% |
| Industrials | 5.2% | 28.8 | 24.0 | 3.47 | 6.19 | 0.98% | 21.5% |
| Consumer Defensive | 4.7% | 31.4 | 24.9 | 2.26 | 11.56 | 1.74% | 36.8% |
| Energy | 2.0% | 21.1 | 13.0 | 1.79 | 2.85 | 2.48% | 13.5% |
| Basic Materials | 0.7% | 24.6 | 15.7 | 3.83 | 4.38 | 1.16% | 17.8% |
| Real Estate | 0.6% | 18.8 | 16.2 | 6.12 | 1.45 | 5.45% | 7.7% |
| Utilities | 0.4% | 18.1 | 16.0 | 3.10 | 1.88 | 3.47% | 10.4% |
PQUS 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 PQUS weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PQUS largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 7.03% | 27.1 | 24.9 | 17.1 | 0.47% | 7.80% |
| AAPL | Apple Inc. | 7.01% | 39.4 | 35.2 | 10.7 | 0.31% | 5.34% |
| MSFT | Microsoft Corporation | 5.54% | 29.5 | 25.1 | 11.8 | 0.74% | 5.65% |
| VOO | Vanguard S&P 500 ETF | 4.85% | — | — | — | — | — |
| IVV | iShares Trust - iShares Core S&P 500 ETF | 4.60% | — | — | — | — | — |
| AMZN | Amazon.com, Inc. | 3.22% | 20.1 | 23.6 | 3.5 | — | 4.80% |
| GOOGL | Alphabet Inc. | 2.54% | 17.1 | 22.8 | 9.3 | 0.26% | 4.45% |
| LLY | Eli Lilly and Company | 2.47% | 42.2 | 24.4 | 14.1 | 0.55% | 1.76% |
| BRK.B | Berkshire Hathaway Inc. | 2.37% | 13.4 | 22.7 | 3.0 | — | 5.32% |
| GOOG | Alphabet Inc. | 2.20% | 16.9 | 21.8 | 9.2 | 0.26% | 3.90% |
| AVGO | Broadcom Inc. | 2.05% | 43.3 | 19.4 | 17.6 | 0.79% | 1.42% |
| META | Meta Platforms, Inc. | 1.87% | 26.7 | 22.1 | 7.9 | 0.30% | 2.10% |
| TSLA | Tesla, Inc. | 1.86% | 328.4 | 158.7 | 13.5 | — | 0.17% |
| COST | Costco Wholesale Corporation | 1.82% | 47.6 | 40.3 | 1.4 | 0.59% | 1.14% |
| AMD | Advanced Micro Devices, Inc. | 1.43% | 134.9 | 39.5 | 20.9 | — | 0.32% |
| MU | Micron Technology, Inc. | 1.35% | 11.8 | 7.0 | 7.5 | 0.07% | 3.42% |
| JNJ | Johnson & Johnson | 1.15% | 38.8 | 21.0 | 6.2 | 2.10% | 0.89% |
| RTX | RTX Corporation | 1.12% | 34.1 | 24.6 | 2.8 | 1.51% | 0.98% |
| MNST | Monster Beverage Corporation | 1.09% | 42.3 | 33.7 | 9.7 | — | 0.77% |
| MO | Altria Group, Inc. | 1.05% | 15.8 | 11.9 | 6.1 | 5.91% | 2.00% |
| BAC | Bank of America Corporation | 1.04% | 12.2 | 10.8 | 3.1 | 2.50% | 2.55% |
| WFC | Wells Fargo & Company | 0.99% | 11.8 | 10.2 | 3.0 | 2.38% | 2.50% |
| BMY | Bristol-Myers Squibb Company | 0.96% | 13.2 | 9.4 | 2.5 | 4.22% | 2.20% |
| CI | Cigna Corporation | 0.91% | 12.5 | 8.3 | 0.3 | 2.06% | 2.18% |
| CRWD | CrowdStrike Holdings, Inc. | 0.90% | — | 208.3 | 43.1 | — | 0.01% |
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 PQUS valuation
Adding up its 148 holdings with company data, PQUS trades at 25.8 times trailing earnings and 19.7 times analysts' forward estimates, with a price-to-book ratio of 5.35 and a dividend yield of 1.04%. Its earnings yield of 3.87% is 1.46 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 41.8% of the fund and earn 42.5% of its combined profit. By sector, Consumer Cyclical is the most expensive at 37.0 times earnings and Financial Services the cheapest at 14.7. Companies that lost money over the past year are 1.8% 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 89.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PQUS chart, PQUS holdings.
PQUS valuation FAQ
What is the P/E ratio of PQUS?
Based on its holdings, PQUS has a trailing P/E of 25.8 and a forward P/E of 19.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PQUS?
The trailing earnings yield is 3.87% (1 ÷ P/E) and the forward earnings yield 5.08%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PQUS more expensive than the S&P 500?
PQUS trades at 25.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.7 and 19.9.
What is the price-to-book ratio of PQUS?
The holdings of PQUS trade at 5.35 times book value, with a combined return on equity of 20.7%.
Which sector in PQUS has the highest P/E?
Consumer Cyclical has the highest P/E at 37.0 and Financial Services the lowest at 14.7.