Invesco DWA Technology Momentum ETF (PTF) Valuation
PTF valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 42.8 trailing earnings
- Forward P/E
- 21.6 analyst estimates
- Price / sales
- 2.54
- Price / book
- 5.15
- EV / EBITDA
- 25.9
- Earnings yield
- 2.33% inverse of P/E
- Dividend yield
- 0.27% of the holdings
- Return on equity
- 12.0% combined
- Net margin
- 5.9% combined
- Beta
- 1.42 weighted, vs S&P 500
PTF valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PTF | 42.8 | 21.6 | 2.54 | 5.15 | 0.27% | 12.0% | 5.9% | 28.0% |
| 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.
PTF valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 95.4% | 41.0 | 22.2 | 2.59 | 5.74 | 0.27% | 14.0% |
| Communication Services | 1.9% | n/m | 9.8 | 1.36 | 0.87 | 0.00% | −2.3% |
PTF 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 PTF weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PTF largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MU | Micron Technology, Inc. | 3.94% | 11.8 | 7.0 | 7.5 | 0.07% | 15.08% |
| GTLB | GitLab Inc. | 3.75% | — | 55.2 | 8.3 | — | −1.02% |
| CRWD | CrowdStrike Holdings, Inc. | 3.72% | — | 208.3 | 43.1 | — | 0.04% |
| FRSH | Freshworks Inc. | 3.58% | 21.8 | 15.7 | 4.0 | — | 7.42% |
| ZETA | Zeta Global Holdings Corp. | 3.47% | — | 24.4 | 5.0 | — | −0.04% |
| NOW | ServiceNow, Inc. | 3.45% | 88.7 | 27.8 | 10.0 | — | 1.76% |
| FTNT | Fortinet, Inc. | 3.39% | 59.8 | 45.0 | 16.5 | — | 2.57% |
| TWLO | Twilio Inc | 3.36% | 33.8 | 43.7 | 6.7 | — | 4.49% |
| PANW | Palo Alto Networks, Inc. | 3.31% | 855.0 | 94.3 | 24.4 | — | 0.18% |
| HUBS | HubSpot, Inc. | 3.30% | 82.5 | 13.9 | 3.4 | — | 1.81% |
| SNDK | Sandisk Corporation | 3.28% | 17.6 | 8.0 | 9.3 | — | 8.42% |
| AMD | Advanced Micro Devices, Inc. | 3.24% | 134.9 | 39.5 | 20.9 | — | 1.09% |
| SNOW | Snowflake Inc. | 3.17% | — | 169.5 | 19.9 | — | −1.48% |
| APH | Amphenol Corporation | 3.11% | 39.7 | 24.6 | 6.7 | 0.63% | 3.54% |
| MSFT | Microsoft Corporation | 3.09% | 29.5 | 25.1 | 11.8 | 0.74% | 4.75% |
| NET | Cloudflare, Inc. | 3.06% | — | 178.6 | 42.0 | — | −0.25% |
| HPQ | HP Inc. | 3.01% | 11.5 | 9.9 | 0.5 | 4.00% | 11.89% |
| S | SentinelOne, Inc. | 3.00% | — | 75.2 | 6.8 | — | −6.24% |
| IOT | Samsara Inc. | 2.96% | 282.6 | 52.4 | 12.5 | — | 0.47% |
| RNG | RingCentral, Inc. | 2.85% | 60.4 | 14.3 | 2.4 | 0.36% | 2.14% |
| APPN | Appian Corporation | 2.82% | — | 416.7 | 3.7 | — | −0.25% |
| SNX | TD SYNNEX Corporation | 2.79% | 15.0 | 12.7 | 0.3 | 0.78% | 8.38% |
| CSCO | Cisco Systems, Inc. | 2.68% | 32.2 | 19.8 | 6.7 | 1.56% | 3.75% |
| DELL | Dell Technologies Inc. | 2.63% | 26.3 | 21.3 | 1.9 | 0.56% | 4.53% |
| AMPL_old | AMPL | 2.60% | — | — | — | — | — |
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 PTF valuation
Adding up its 33 holdings with company data, PTF trades at 42.8 times trailing earnings and 21.6 times analysts' forward estimates, with a price-to-book ratio of 5.15 and a dividend yield of 0.27%. Its earnings yield of 2.33% is 2.99 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 35.3% of the fund and earn 32.3% of its combined profit. Companies that lost money over the past year are 28.0% 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 95.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PTF chart, PTF performance, PTF holdings.
PTF valuation FAQ
What is the P/E ratio of PTF?
Based on its holdings, PTF has a trailing P/E of 42.8 and a forward P/E of 21.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PTF?
The trailing earnings yield is 2.33% (1 ÷ P/E) and the forward earnings yield 4.62%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PTF more expensive than the S&P 500?
PTF trades at 42.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.6 and 19.9.
What is the price-to-book ratio of PTF?
The holdings of PTF trade at 5.15 times book value, with a combined return on equity of 12.0%.