ProShares Nasdaq-100 Dynamic Buffer ETF (QB) Valuation

NASDAQ: QBP/E, earnings yield and other ratios of the holdings combined.

QB valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 31.2
Forward P/E: 21.8
Price / sales: 5.58
Price / book: 8.81
EV / EBITDA: 20.3
Earnings yield: 3.21%
Dividend yield: 0.61%
Return on equity: 28.3%
Net margin: 17.9%
Beta: 1.44

QB valuation vs other stock ETFs

P/E (TTM)Forward P/E

QB valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
QB	31.2	21.8	5.58	8.81	0.61%	28.3%	17.9%	4.2%
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.

QB valuation by sector

P/E (TTM)Forward P/E

QB valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	58.0%	37.5	21.6	11.15	13.33	0.51%	35.5%
Communication Services	14.2%	18.1	18.1	4.75	5.58	0.58%	30.9%
Consumer Cyclical	11.6%	32.1	29.8	3.55	7.97	0.21%	24.8%
Consumer Defensive	6.3%	38.8	27.9	1.52	6.54	1.49%	16.9%
Healthcare	3.8%	45.8	19.8	6.73	8.44	0.97%	18.4%
Industrials	2.8%	17.7	23.9	3.45	5.42	1.06%	30.7%
Utilities	1.2%	22.0	17.4	2.75	2.16	2.18%	9.8%
Basic Materials	1.1%	32.2	23.6	6.48	5.48	1.28%	17.0%
Energy	0.5%	24.0	13.1	2.51	1.90	1.89%	7.9%
Financial Services	0.2%	10.7	9.1	1.43	2.27	0.99%	21.1%

QB earnings yield vs bond yields

QB earnings yield (forward)

4.58%

QB earnings yield (trailing)

3.21%

QB dividend yield

0.61%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 QB weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

QB largest holdings: valuation

QB largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
NVDA	NVIDIA Corporation	7.98%	27.1	24.9	17.1	0.47%	9.29%
AAPL	Apple Inc.	7.10%	39.4	35.2	10.7	0.31%	5.68%
MSFT	Microsoft Corporation	5.42%	29.5	25.1	11.8	0.74%	5.80%
MU	Micron Technology, Inc.	4.78%	11.8	7.0	7.5	0.07%	12.74%
AMZN	Amazon.com, Inc.	4.71%	20.1	23.6	3.5	—	7.39%
TSLA	Tesla, Inc.	3.63%	328.4	158.7	13.5	—	0.35%
AMD	Advanced Micro Devices, Inc.	3.53%	134.9	39.5	20.9	—	0.82%
GOOGL	Alphabet Inc.	3.52%	17.1	22.8	9.3	0.26%	6.49%
AVGO	Broadcom Inc.	3.29%	43.3	19.4	17.6	0.79%	2.40%
GOOG	Alphabet Inc.	3.26%	16.9	21.8	9.2	0.26%	6.08%
META	Meta Platforms, Inc.	2.88%	26.7	22.1	7.9	0.30%	3.39%
WMT	Walmart Inc.	2.55%	43.0	38.0	1.3	0.83%	1.87%
INTC	Intel Corporation	2.41%	—	63.3	8.3	—	−1.79%
CSCO	Cisco Systems, Inc.	1.99%	32.2	19.8	6.7	1.56%	1.95%
COST	Costco Wholesale Corporation	1.92%	47.6	40.3	1.4	0.59%	1.27%
LRCX	Lam Research Corporation	1.71%	45.8	33.7	14.2	0.50%	1.18%
PLTR	Palantir Technologies Inc.	1.64%	160.4	85.5	72.6	—	0.32%
AMAT	Applied Materials, Inc.	1.57%	35.3	23.4	10.5	0.52%	1.40%
NFLX	Netflix, Inc.	1.51%	22.2	18.7	6.1	—	2.15%
TXN	Texas Instruments Incorporated	1.27%	42.1	27.5	13.0	2.20%	0.95%
QCOM	QUALCOMM Incorporated	1.15%	19.9	19.6	4.2	2.14%	1.82%
KLAC	KLA Corporation	1.14%	45.3	34.8	15.9	0.56%	0.79%
SNDK	Sandisk Corporation	1.12%	17.6	8.0	9.3	—	2.01%
LIN	Linde plc	1.08%	32.2	23.6	6.5	1.28%	1.06%
PANW	Palo Alto Networks, Inc.	0.98%	855.0	94.3	24.4	—	0.04%

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 QB valuation

Adding up its 96 holdings with company data, QB trades at 31.2 times trailing earnings and 21.8 times analysts' forward estimates, with a price-to-book ratio of 8.81 and a dividend yield of 0.61%. Its earnings yield of 3.21% is 2.12 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 47.2% of the fund and earn 57.0% of its combined profit. By sector, Healthcare is the most expensive at 45.8 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 4.2% 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 98.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

QB valuation FAQ

What is the P/E ratio of QB?

Based on its holdings, QB has a trailing P/E of 31.2 and a forward P/E of 21.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of QB?

The trailing earnings yield is 3.21% (1 ÷ P/E) and the forward earnings yield 4.58%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is QB more expensive than the S&P 500?

QB trades at 31.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.8 and 19.9.

What is the price-to-book ratio of QB?

The holdings of QB trade at 8.81 times book value, with a combined return on equity of 28.3%.

Which sector in QB has the highest P/E?

Healthcare has the highest P/E at 45.8 and Financial Services the lowest at 10.7.