Invesco Dynamic Semiconductors ETF (PSI) Valuation
PSI valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 312.7 trailing earnings
- Forward P/E
- 22.6 analyst estimates
- Price / sales
- 5.62
- Price / book
- 6.24
- EV / EBITDA
- 32.0
- Earnings yield
- 0.32% inverse of P/E
- Dividend yield
- 0.49% of the holdings
- Return on equity
- 2.0% combined
- Net margin
- 1.8% combined
- Beta
- 1.83 weighted, vs S&P 500
PSI valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PSI | 312.7 | 22.6 | 5.62 | 6.24 | 0.49% | 2.0% | 1.8% | 15.6% |
| 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.
PSI valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 99.3% | 312.7 | 22.6 | 5.62 | 6.24 | 0.49% | 2.0% |
PSI 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 PSI weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PSI largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMD | Advanced Micro Devices, Inc. | 6.34% | 134.9 | 39.5 | 20.9 | — | 15.20% |
| TXN | Texas Instruments Incorporated | 6.32% | 42.1 | 27.5 | 13.0 | 2.20% | 48.53% |
| ADI | Analog Devices, Inc. | 5.71% | 47.0 | 23.2 | 13.8 | 1.11% | 39.27% |
| MU | Micron Technology, Inc. | 5.56% | 11.8 | 7.0 | 7.5 | 0.07% | 151.89% |
| INTC | Intel Corporation | 5.45% | — | 63.3 | 8.3 | — | −41.56% |
| AMAT | Applied Materials, Inc. | 4.45% | 35.3 | 23.4 | 10.5 | 0.52% | 40.76% |
| KLAC | KLA Corporation | 4.42% | 45.3 | 34.8 | 15.9 | 0.56% | 31.57% |
| LRCX | Lam Research Corporation | 4.15% | 45.8 | 33.7 | 14.2 | 0.50% | 29.30% |
| SMTC | Semtech Corporation | 3.31% | 90.5 | 53.2 | 10.9 | — | 11.80% |
| ENTG | Entegris, Inc. | 3.13% | 69.4 | 31.6 | 6.4 | 0.29% | 14.59% |
| ON | ON Semiconductor Corporation | 3.13% | 46.5 | 16.5 | 4.5 | — | 21.76% |
| MCHP | Microchip Technology Incorporated | 2.99% | 108.6 | 20.5 | 7.8 | 2.46% | 8.89% |
| COHU | Cohu, Inc. | 2.96% | — | 33.7 | 4.6 | — | −15.64% |
| FORM | FormFactor, Inc. | 2.72% | 72.4 | 36.6 | 9.1 | — | 12.15% |
| WOLF | Wolfspeed, Inc. | 2.71% | — | 714.3 | 1.8 | — | −429.34% |
| TER | Teradyne, Inc. | 2.71% | 44.6 | 30.7 | 11.4 | 0.16% | 19.59% |
| POWI | Power Integrations, Inc. | 2.66% | 101.1 | 25.0 | 5.5 | 1.93% | 8.49% |
| MTSI | MACOM Technology Solutions Holdings, Inc. | 2.64% | 83.5 | 32.3 | 17.2 | — | 10.20% |
| DIOD | Diodes Incorporated | 2.62% | 44.3 | 12.5 | 2.3 | — | 19.11% |
| KLIC | Kulicke and Soffa Industries, Inc. | 2.62% | 36.1 | 13.3 | 4.3 | 1.04% | 23.46% |
| AMKR | Amkor Technology, Inc. | 2.59% | 18.8 | 18.8 | 1.4 | 0.80% | 44.61% |
| TSEM | Tower Semiconductor Ltd | 2.53% | — | — | — | — | — |
| LSCC | Lattice Semiconductor Corporation | 2.51% | 414.6 | 38.8 | 22.6 | — | 1.96% |
| AXTI | AXT, Inc. | 2.38% | — | 30.8 | 26.9 | — | 0.60% |
| SITM | SiTime Corporation | 2.32% | 843.1 | 44.4 | 30.2 | — | 0.89% |
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 PSI valuation
Adding up its 29 holdings with company data, PSI trades at 312.7 times trailing earnings and 22.6 times analysts' forward estimates, with a price-to-book ratio of 6.24 and a dividend yield of 0.49%. Its earnings yield of 0.32% is 5.01 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 48.8% of the fund and earn 341.3% of its combined profit. Companies that lost money over the past year are 15.6% 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 97.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PSI chart, PSI performance, PSI holdings, PSI dividends.
PSI valuation FAQ
What is the P/E ratio of PSI?
Based on its holdings, PSI has a trailing P/E of 312.7 and a forward P/E of 22.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PSI?
The trailing earnings yield is 0.32% (1 ÷ P/E) and the forward earnings yield 4.43%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PSI more expensive than the S&P 500?
PSI trades at 312.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.6 and 19.9.
What is the price-to-book ratio of PSI?
The holdings of PSI trade at 6.24 times book value, with a combined return on equity of 2.0%.