Invesco DWA Basic Materials Momentum ETF (PYZ) Valuation
PYZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 38.5 trailing earnings
- Forward P/E
- 15.0 analyst estimates
- Price / sales
- 1.58
- Price / book
- 2.75
- EV / EBITDA
- 13.1
- Earnings yield
- 2.60% inverse of P/E
- Dividend yield
- 1.29% of the holdings
- Return on equity
- 7.1% combined
- Net margin
- 4.1% combined
- Beta
- 1.09 weighted, vs S&P 500
PYZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PYZ | 38.5 | 15.0 | 1.58 | 2.75 | 1.29% | 7.1% | 4.1% | 18.3% |
| 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.
PYZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Basic Materials | 84.5% | 39.5 | 14.5 | 1.49 | 2.63 | 1.41% | 6.6% |
| Industrials | 12.9% | 30.1 | 19.3 | 2.47 | 4.00 | 0.69% | 13.3% |
| Financial Services | 2.3% | 103.1 | — | 2.70 | — | 0.00% | — |
PYZ 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 PYZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PYZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| RS | Reliance Steel & Aluminum Co. | 4.90% | 23.9 | 16.4 | 1.3 | 1.22% | 7.93% |
| ATI | ATI Inc. | 3.93% | 54.4 | 28.8 | 5.4 | — | 2.79% |
| NUE | Nucor Corporation | 3.78% | 20.4 | 11.4 | 1.6 | 0.87% | 7.14% |
| NEM | Newmont Corporation | 3.72% | 15.0 | 11.6 | 4.8 | 0.88% | 9.61% |
| CF | CF Industries Holdings, Inc. | 3.68% | 9.0 | 12.2 | 2.4 | 1.99% | 15.87% |
| APD | Air Products and Chemicals, Inc. | 3.66% | — | 19.9 | 5.3 | 2.42% | −0.10% |
| RGLD | Royal Gold, Inc. | 3.57% | 26.4 | 24.2 | 13.1 | 0.80% | 5.23% |
| DD | DuPont de Nemours, Inc. | 3.32% | 35.1 | 16.5 | 2.5 | 1.84% | 3.66% |
| FCX | Freeport-McMoRan Inc. | 3.25% | 34.3 | 18.1 | 3.9 | 0.86% | 3.67% |
| CRS | Carpenter Technology Corporation | 3.20% | 35.8 | 23.4 | 6.0 | 0.21% | 3.45% |
| HL | Hecla Mining Company | 3.10% | 19.9 | 21.0 | 5.9 | 0.10% | 6.04% |
| LIN | Linde plc | 2.86% | 32.2 | 23.6 | 6.5 | 1.28% | 3.43% |
| CLF | Cleveland-Cliffs Inc. | 2.84% | — | 16.0 | 0.4 | — | −14.57% |
| STLD | Steel Dynamics, Inc. | 2.76% | 21.8 | 10.0 | 1.7 | 0.88% | 4.89% |
| ESI | Element Solutions Inc | 2.65% | 47.4 | 17.0 | 2.7 | 0.91% | 2.16% |
| NEU | NewMarket Corporation | 2.62% | 18.9 | 22.5 | 2.9 | 1.37% | 5.37% |
| SXT | Sensient Technologies Corporation | 2.61% | 36.0 | 22.7 | 3.3 | 1.23% | 2.80% |
| DOW | Dow Inc. | 2.46% | — | 14.1 | 0.5 | 4.68% | −5.84% |
| ECL | Ecolab Inc. | 2.45% | 38.8 | 29.7 | 4.8 | 1.01% | 2.44% |
| IFF | International Flavors & Fragrances Inc. | 2.38% | 89.8 | 17.7 | 2.1 | 1.76% | 1.03% |
| VYLR | Vylor Inc. | 2.34% | 103.1 | — | 2.7 | — | 0.88% |
| LYB | LyondellBasell Industries N.V. | 2.33% | — | 9.1 | 0.7 | 4.31% | −1.17% |
| ASH | Ashland Inc. | 2.33% | 45.6 | 15.7 | 1.8 | 2.36% | 1.97% |
| PRM | Perimeter Solutions, SA | 2.28% | — | 17.9 | 5.7 | — | −7.40% |
| LPX | Louisiana-Pacific Corporation | 2.28% | 91.0 | 19.1 | 2.0 | 1.71% | 0.97% |
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 PYZ valuation
Adding up its 40 holdings with company data, PYZ trades at 38.5 times trailing earnings and 15.0 times analysts' forward estimates, with a price-to-book ratio of 2.75 and a dividend yield of 1.29%. Its earnings yield of 2.60% is 2.73 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 37.0% of the fund and earn 59.2% of its combined profit. By sector, Financial Services is the most expensive at 103.1 times earnings and Industrials the cheapest at 30.1. Companies that lost money over the past year are 18.3% 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 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PYZ chart, PYZ performance, PYZ holdings, PYZ dividends.
PYZ valuation FAQ
What is the P/E ratio of PYZ?
Based on its holdings, PYZ has a trailing P/E of 38.5 and a forward P/E of 15.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PYZ?
The trailing earnings yield is 2.60% (1 ÷ P/E) and the forward earnings yield 6.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PYZ more expensive than the S&P 500?
PYZ trades at 38.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.0 and 19.9.
What is the price-to-book ratio of PYZ?
The holdings of PYZ trade at 2.75 times book value, with a combined return on equity of 7.1%.
Which sector in PYZ has the highest P/E?
Financial Services has the highest P/E at 103.1 and Industrials the lowest at 30.1.