Invesco NASDAQ Next Gen 100 ETF (QQQJ) Valuation
QQQJ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 33.0 trailing earnings
- Forward P/E
- 16.3 analyst estimates
- Price / sales
- 1.60
- Price / book
- 3.73
- EV / EBITDA
- 11.3
- Earnings yield
- 3.03% inverse of P/E
- Dividend yield
- 0.61% of the holdings
- Return on equity
- 11.3% combined
- Net margin
- 4.8% combined
- Beta
- 1.13 weighted, vs S&P 500
QQQJ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QQQJ | 33.0 | 16.3 | 1.60 | 3.73 | 0.61% | 11.3% | 4.8% | 18.7% |
| 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.
QQQJ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 33.8% | 23.8 | 16.5 | 2.78 | 4.01 | 0.39% | 16.8% |
| Healthcare | 24.1% | 139.2 | 20.4 | 7.06 | 4.77 | 0.20% | 3.4% |
| Consumer Cyclical | 12.3% | 31.4 | 14.5 | 0.42 | 4.78 | 1.02% | 15.2% |
| Industrials | 10.4% | 22.5 | 16.0 | 1.38 | 4.65 | 0.70% | 20.6% |
| Communication Services | 5.4% | 417.0 | 13.4 | 1.38 | 1.38 | 0.33% | 0.3% |
| Consumer Defensive | 3.0% | 18.0 | 14.5 | 1.58 | 10.23 | 2.85% | 56.8% |
| Basic Materials | 2.8% | 23.3 | 12.7 | 2.45 | 3.29 | 0.85% | 14.1% |
| Utilities | 2.7% | 34.9 | 14.6 | 3.76 | 2.65 | 2.23% | 7.6% |
| Financial Services | 2.4% | 38.1 | 46.1 | 7.22 | 4.13 | 0.00% | 10.9% |
| Energy | 1.1% | 8.1 | 9.6 | 1.77 | 1.04 | 2.46% | 12.9% |
QQQJ 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 QQQJ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QQQJ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NTRA | Natera, Inc. | 2.85% | — | — | 20.9 | — | −0.35% |
| EBAY | eBay Inc. | 2.65% | 25.3 | 16.6 | 4.5 | 1.03% | 3.71% |
| ILMN | Illumina, Inc. | 2.16% | 49.0 | 40.3 | 8.8 | — | 1.56% |
| NTAP | NetApp, Inc. | 2.12% | 28.7 | 21.4 | 5.4 | 1.02% | 2.61% |
| RVMD | Revolution Medicines, Inc. | 2.00% | — | — | 9,035.1 | — | −3.52% |
| BIIB | Biogen Inc. | 1.91% | 41.3 | 13.9 | 3.4 | — | 1.64% |
| OKTA | Okta, Inc. | 1.82% | 112.8 | 54.3 | 10.7 | — | 0.57% |
| STLD | Steel Dynamics, Inc. | 1.81% | 21.8 | 10.0 | 1.7 | 0.88% | 2.94% |
| ESLT | Elbit Systems Ltd | 1.80% | — | — | — | — | — |
| TEAM | Atlassian Corporation | 1.78% | — | 36.2 | 8.0 | — | −0.04% |
| KMB | Kimberly-Clark Corporation | 1.77% | 20.8 | 13.1 | 2.1 | 4.85% | 3.01% |
| UAL | United Airlines Holdings, Inc. | 1.66% | 9.0 | 7.4 | 0.5 | — | 6.51% |
| EXPE | Expedia Group, Inc. | 1.65% | 18.0 | 11.3 | 2.2 | 0.66% | 3.24% |
| CTSH | Cognizant Technology Solutions Corporation | 1.65% | 14.2 | 9.4 | 1.4 | 2.00% | 4.12% |
| MDB | MongoDB, Inc. | 1.46% | 468.8 | 70.4 | 9.8 | — | 0.11% |
| FLEX | Flex Ltd. | 1.45% | 38.7 | 24.2 | 1.1 | — | 1.32% |
| CRDO | Credo Technology Group Holding Ltd | 1.44% | 60.2 | 30.9 | 20.0 | — | 0.84% |
| ULTA | Ulta Beauty, Inc. | 1.41% | 21.6 | 19.6 | 2.0 | — | 2.30% |
| VRSN | VeriSign, Inc. | 1.40% | 32.7 | 27.0 | 16.0 | 1.07% | 1.52% |
| RPRX | Royalty Pharma plc | 1.37% | 32.4 | 29.4 | 13.9 | 1.54% | 1.50% |
| CASY | Casey's General Stores, Inc. | 1.36% | 33.2 | 29.1 | 1.4 | 0.38% | 1.45% |
| ON | ON Semiconductor Corporation | 1.36% | 46.5 | 16.5 | 4.5 | — | 1.04% |
| FFIV | F5, Inc. | 1.34% | 35.2 | 24.6 | 7.6 | — | 1.35% |
| ROIV | Roivant Sciences Ltd. | 1.33% | — | — | 3,215.5 | — | −0.74% |
| FISV | Fiserv, Inc. | 1.31% | 9.1 | 5.7 | 1.2 | — | 5.07% |
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 QQQJ valuation
Adding up its 97 holdings with company data, QQQJ trades at 33.0 times trailing earnings and 16.3 times analysts' forward estimates, with a price-to-book ratio of 3.73 and a dividend yield of 0.61%. Its earnings yield of 3.03% is 2.29 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 20.9% of the fund and earn 12.1% of its combined profit. By sector, Communication Services is the most expensive at 417.0 times earnings and Energy the cheapest at 8.1. Companies that lost money over the past year are 18.7% 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 94.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QQQJ chart, QQQJ performance, QQQJ holdings, QQQJ dividends.
QQQJ valuation FAQ
What is the P/E ratio of QQQJ?
Based on its holdings, QQQJ has a trailing P/E of 33.0 and a forward P/E of 16.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QQQJ?
The trailing earnings yield is 3.03% (1 ÷ P/E) and the forward earnings yield 6.13%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QQQJ more expensive than the S&P 500?
QQQJ trades at 33.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.3 and 19.9.
What is the price-to-book ratio of QQQJ?
The holdings of QQQJ trade at 3.73 times book value, with a combined return on equity of 11.3%.
Which sector in QQQJ has the highest P/E?
Communication Services has the highest P/E at 417.0 and Energy the lowest at 8.1.