Invesco Dynamic Energy Exploration… (PXE) Valuation
PXE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 14.3 trailing earnings
- Forward P/E
- 9.6 analyst estimates
- Price / sales
- 1.17
- Price / book
- 1.69
- EV / EBITDA
- 5.4
- Earnings yield
- 6.98% inverse of P/E
- Dividend yield
- 1.67% of the holdings
- Return on equity
- 11.8% combined
- Net margin
- 8.2% combined
- Beta
- 0.59 weighted, vs S&P 500
PXE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PXE | 14.3 | 9.6 | 1.17 | 1.69 | 1.67% | 11.8% | 8.2% | 5.4% |
| 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.
PXE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 99.4% | 14.3 | 9.6 | 1.17 | 1.69 | 1.67% | 11.8% |
PXE 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 PXE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PXE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MPC | Marathon Petroleum Corporation | 5.88% | 16.6 | 5.5 | 0.9 | 0.84% | 5.25% |
| VLO | Valero Energy Corporation | 5.87% | 18.5 | 10.2 | 1.0 | 1.08% | 4.68% |
| PSX | Phillips 66 | 5.66% | 16.8 | 9.7 | 0.8 | 1.81% | 4.99% |
| COP | ConocoPhillips | 4.69% | 19.4 | 12.7 | 2.7 | 2.29% | 3.58% |
| EOG | EOG Resources, Inc. | 4.69% | 12.3 | 10.1 | 3.1 | 2.58% | 5.64% |
| OXY | Occidental Petroleum Corporation | 4.69% | 17.7 | 14.6 | 2.6 | 1.80% | 3.91% |
| FANG | Diamondback Energy, Inc. | 4.47% | 38.8 | 10.0 | 3.5 | 2.16% | 1.70% |
| EQT | EQT Corporation | 4.29% | 12.6 | 14.1 | 3.7 | 1.25% | 5.04% |
| CVI | CVR Energy, Inc. | 4.05% | 91.7 | 40.5 | 0.7 | 0.65% | 0.65% |
| DINO | HF Sinclair Corporation | 3.26% | 11.9 | 10.0 | 0.7 | 1.68% | 4.05% |
| PBF | PBF Energy Inc. | 3.17% | 7.4 | 8.4 | 0.3 | 1.30% | 6.30% |
| MUR | Murphy Oil Corporation | 3.05% | 20.7 | 13.4 | 2.0 | 3.35% | 2.18% |
| APA | APA Corporation | 3.02% | 10.4 | 9.4 | 2.0 | 2.03% | 4.29% |
| PARR | Par Pacific Holdings, Inc. | 2.82% | 4.9 | 10.5 | 0.5 | — | 8.56% |
| DK | Delek US Holdings, Inc. | 2.73% | 20.8 | 20.3 | 0.4 | 1.33% | 1.95% |
| OVV | Ovintiv Inc. | 2.64% | 19.3 | 9.0 | 2.0 | 1.73% | 2.02% |
| TALO | Talos Energy Inc. | 2.64% | — | 15.1 | 1.5 | — | −5.18% |
| SM | SM Energy Company | 2.59% | 7.0 | 4.4 | 1.9 | 2.23% | 5.46% |
| CRC | California Resources Corporation | 2.58% | — | 11.9 | 1.3 | 2.98% | −0.91% |
| CHRD | Chord Energy Corporation | 2.54% | 10.4 | — | 1.4 | 3.36% | 3.61% |
| RRC | Range Resources Corporation | 2.52% | 11.9 | 10.0 | 3.1 | 0.93% | 3.12% |
| YZ8 | Permian Resources Corporation | 2.52% | — | — | — | — | — |
| CNX | CNX Resources Corporation | 2.48% | 5.8 | 8.4 | 2.5 | — | 6.30% |
| AR | Antero Resources Corporation | 2.44% | 11.1 | 9.0 | 2.1 | — | 3.25% |
| MTDR | Matador Resources Company | 2.42% | 9.9 | 5.5 | 1.9 | 2.61% | 3.63% |
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 PXE valuation
Adding up its 29 holdings with company data, PXE trades at 14.3 times trailing earnings and 9.6 times analysts' forward estimates, with a price-to-book ratio of 1.69 and a dividend yield of 1.67%. Its earnings yield of 6.98% is 1.65 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 47.6% of the fund and earn 39.5% of its combined profit. Companies that lost money over the past year are 5.4% 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 97.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PXE chart, PXE performance, PXE holdings, PXE dividends.
PXE valuation FAQ
What is the P/E ratio of PXE?
Based on its holdings, PXE has a trailing P/E of 14.3 and a forward P/E of 9.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PXE?
The trailing earnings yield is 6.98% (1 ÷ P/E) and the forward earnings yield 10.46%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PXE more expensive than the S&P 500?
PXE trades at 14.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 9.6 and 19.9.
What is the price-to-book ratio of PXE?
The holdings of PXE trade at 1.69 times book value, with a combined return on equity of 11.8%.