NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) Valuation
QQQH valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 33.5 trailing earnings
- Forward P/E
- 23.0 analyst estimates
- Price / sales
- 5.80
- Price / book
- 9.14
- EV / EBITDA
- 21.0
- Earnings yield
- 2.98% inverse of P/E
- Dividend yield
- 0.60% of the holdings
- Return on equity
- 27.3% combined
- Net margin
- 17.3% combined
- Beta
- 1.42 weighted, vs S&P 500
QQQH valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QQQH | 33.5 | 23.0 | 5.80 | 9.14 | 0.60% | 27.3% | 17.3% | 5.5% |
| 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.
QQQH valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 56.4% | 39.6 | 22.9 | 11.54 | 13.59 | 0.49% | 34.3% |
| Communication Services | 11.8% | 18.9 | 19.0 | 5.22 | 5.67 | 0.58% | 30.0% |
| Consumer Cyclical | 10.8% | 31.4 | 28.7 | 3.34 | 7.90 | 0.23% | 25.1% |
| Consumer Defensive | 6.3% | 34.7 | 28.6 | 1.55 | 7.54 | 1.39% | 21.7% |
| Healthcare | 4.5% | 49.2 | 19.4 | 6.82 | 8.25 | 0.98% | 16.7% |
| Industrials | 3.8% | 40.7 | 38.4 | 6.59 | 7.79 | 0.65% | 19.1% |
| Utilities | 1.1% | 21.6 | 17.1 | 2.72 | 2.09 | 2.34% | 9.7% |
| Basic Materials | 1.1% | 32.2 | 23.6 | 6.48 | 5.48 | 1.28% | 17.0% |
| Energy | 0.5% | 24.6 | 12.8 | 2.55 | 1.86 | 1.91% | 7.6% |
| Financial Services | 0.2% | 10.7 | 9.1 | 1.43 | 2.27 | 0.99% | 21.1% |
QQQH 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 QQQH weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QQQH largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 7.66% | 27.1 | 24.9 | 17.1 | 0.47% | 9.87% |
| AAPL | Apple Inc. | 7.61% | 39.4 | 35.2 | 10.7 | 0.31% | 6.74% |
| MSFT | Microsoft Corporation | 6.06% | 29.5 | 25.1 | 11.8 | 0.74% | 7.17% |
| AMZN | Amazon.com, Inc. | 4.32% | 20.1 | 23.6 | 3.5 | — | 7.49% |
| MU | Micron Technology, Inc. | 4.03% | 11.8 | 7.0 | 7.5 | 0.07% | 11.89% |
| AMD | Advanced Micro Devices, Inc. | 3.59% | 134.9 | 39.5 | 20.9 | — | 0.93% |
| META | Meta Platforms, Inc. | 3.13% | 26.7 | 22.1 | 7.9 | 0.30% | 4.08% |
| TSLA | Tesla, Inc. | 3.04% | 328.4 | 158.7 | 13.5 | — | 0.32% |
| GOOGL | Alphabet Inc. | 2.93% | 17.1 | 22.8 | 9.3 | 0.26% | 5.98% |
| GOOG | Alphabet Inc. | 2.70% | 16.9 | 21.8 | 9.2 | 0.26% | 5.56% |
| AVGO | Broadcom Inc. | 2.50% | 43.3 | 19.4 | 17.6 | 0.79% | 2.02% |
| WMT | Walmart Inc. | 2.47% | 43.0 | 38.0 | 1.3 | 0.83% | 2.00% |
| INTC | Intel Corporation | 2.03% | — | 63.3 | 8.3 | — | −1.67% |
| COST | Costco Wholesale Corporation | 2.02% | 47.6 | 40.3 | 1.4 | 0.59% | 1.48% |
| PLTR | Palantir Technologies Inc. | 1.87% | 160.4 | 85.5 | 72.6 | — | 0.41% |
| CSCO | Cisco Systems, Inc. | 1.78% | 32.2 | 19.8 | 6.7 | 1.56% | 1.93% |
| PANW | Palo Alto Networks, Inc. | 1.32% | 855.0 | 94.3 | 24.4 | — | 0.05% |
| LRCX | Lam Research Corporation | 1.27% | 45.8 | 33.7 | 14.2 | 0.50% | 0.96% |
| AMAT | Applied Materials, Inc. | 1.26% | 35.3 | 23.4 | 10.5 | 0.52% | 1.24% |
| NFLX | Netflix, Inc. | 1.23% | 22.2 | 18.7 | 6.1 | — | 1.94% |
| SPCX | Space Exploration Technologies Corp. | 1.23% | — | 200.0 | 83.5 | — | −0.19% |
| TXN | Texas Instruments Incorporated | 1.20% | 42.1 | 27.5 | 13.0 | 2.20% | 0.99% |
| CRWD | CrowdStrike Holdings, Inc. | 1.13% | — | 208.3 | 43.1 | — | 0.01% |
| LIN | Linde plc | 1.06% | 32.2 | 23.6 | 6.5 | 1.28% | 1.15% |
| AMGN | Amgen Inc. | 1.03% | 26.9 | 16.7 | 6.1 | 2.33% | 1.34% |
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 QQQH valuation
Adding up its 96 holdings with company data, QQQH trades at 33.5 times trailing earnings and 23.0 times analysts' forward estimates, with a price-to-book ratio of 9.14 and a dividend yield of 0.60%. Its earnings yield of 2.98% is 2.34 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 45.1% of the fund and earn 60.0% of its combined profit. By sector, Healthcare is the most expensive at 49.2 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 5.5% 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 98.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QQQH chart, QQQH performance, QQQH holdings, QQQH dividends.
QQQH valuation FAQ
What is the P/E ratio of QQQH?
Based on its holdings, QQQH has a trailing P/E of 33.5 and a forward P/E of 23.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QQQH?
The trailing earnings yield is 2.98% (1 ÷ P/E) and the forward earnings yield 4.35%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QQQH more expensive than the S&P 500?
QQQH trades at 33.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.0 and 19.9.
What is the price-to-book ratio of QQQH?
The holdings of QQQH trade at 9.14 times book value, with a combined return on equity of 27.3%.
Which sector in QQQH has the highest P/E?
Healthcare has the highest P/E at 49.2 and Financial Services the lowest at 10.7.