First Trust NASDAQ-100 Ex-Technology Sector… (QQXT) Valuation
QQXT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 30.2 trailing earnings
- Forward P/E
- 20.1 analyst estimates
- Price / sales
- 3.37
- Price / book
- 4.77
- EV / EBITDA
- 15.0
- Earnings yield
- 3.31% inverse of P/E
- Dividend yield
- 1.25% of the holdings
- Return on equity
- 15.8% combined
- Net margin
- 11.1% combined
- Beta
- 0.91 weighted, vs S&P 500
QQXT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QQXT | 30.2 | 20.1 | 3.37 | 4.77 | 1.25% | 15.8% | 11.1% | 11.3% |
| 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.
QQXT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 19.3% | 28.5 | 29.9 | 5.00 | 6.23 | 0.78% | 21.9% |
| Healthcare | 19.0% | 44.7 | 19.7 | 5.67 | 7.10 | 0.52% | 15.9% |
| Consumer Cyclical | 16.6% | 34.7 | 26.9 | 4.41 | 15.82 | 0.56% | 45.6% |
| Consumer Defensive | 12.2% | 30.6 | 21.2 | 1.98 | 4.37 | 1.93% | 14.3% |
| Utilities | 7.4% | 20.6 | 16.5 | 2.62 | 1.94 | 2.70% | 9.4% |
| Technology | 7.0% | 175.0 | 22.3 | 7.03 | 12.03 | 2.11% | 6.9% |
| Communication Services | 6.5% | 16.9 | 11.6 | 1.58 | 2.41 | 2.28% | 14.3% |
| Energy | 3.5% | 25.4 | 12.5 | 2.62 | 1.80 | 1.93% | 7.1% |
| Financial Services | 2.1% | 10.7 | 9.1 | 1.43 | 2.27 | 0.99% | 21.1% |
| Basic Materials | 1.9% | 32.2 | 23.6 | 6.48 | 5.48 | 1.28% | 17.0% |
QQXT 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 QQXT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QQXT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MAR | Marriott International, Inc. | 2.28% | 40.1 | 26.5 | 13.7 | 0.75% | 1.83% |
| ISRG | Intuitive Surgical, Inc. | 2.27% | 48.9 | 33.3 | 13.7 | — | 1.49% |
| KDP | Keurig Dr Pepper Inc. | 2.17% | 35.0 | 12.5 | 2.3 | 2.66% | 1.99% |
| PYPL | PayPal Holdings, Inc. | 2.13% | 10.7 | 9.1 | 1.4 | 0.99% | 6.40% |
| COST | Costco Wholesale Corporation | 2.08% | 47.6 | 40.3 | 1.4 | 0.59% | 1.40% |
| WMT | Walmart Inc. | 2.08% | 43.0 | 38.0 | 1.3 | 0.83% | 1.55% |
| MRNA | Moderna, Inc. | 2.05% | — | 23.0 | 39.1 | — | −2.41% |
| MNST | Monster Beverage Corporation | 2.02% | 42.3 | 33.7 | 9.7 | — | 1.53% |
| MDLZ | Mondelez International, Inc. | 2.01% | 23.5 | 18.2 | 2.1 | 3.25% | 2.75% |
| HON | Honeywell International Inc. | 2.00% | 7.8 | 22.2 | 1.8 | 1.32% | 8.22% |
| CCE | Coca-Cola European Partners plc | 1.98% | — | — | — | — | — |
| CTAS | Cintas Corporation | 1.98% | 42.1 | 36.2 | 7.3 | 0.97% | 1.51% |
| ADP | Automatic Data Processing, Inc. | 1.98% | 26.4 | 22.0 | 5.2 | 2.35% | 2.40% |
| FAST | Fastenal Company | 1.97% | 41.5 | 37.5 | 6.4 | 2.04% | 1.53% |
| GILD | Gilead Sciences, Inc. | 1.96% | — | 15.6 | 6.4 | 2.10% | −1.07% |
| LIN | Linde plc | 1.93% | 32.2 | 23.6 | 6.5 | 1.28% | 1.93% |
| XEL | Xcel Energy Inc. | 1.93% | 20.9 | 16.0 | 3.3 | 3.11% | 2.97% |
| AEP | American Electric Power Company, Inc. | 1.93% | 22.0 | 17.2 | 3.0 | 2.99% | 2.81% |
| FANG | Diamondback Energy, Inc. | 1.92% | 38.8 | 10.0 | 3.5 | 2.16% | 1.59% |
| TSLA | Tesla, Inc. | 1.90% | 328.4 | 158.7 | 13.5 | — | 0.19% |
| REGN | Regeneron Pharmaceuticals, Inc. | 1.90% | 19.6 | 14.5 | 5.2 | 0.48% | 3.13% |
| AMGN | Amgen Inc. | 1.88% | 26.9 | 16.7 | 6.1 | 2.33% | 2.25% |
| IDXX | IDEXX Laboratories, Inc. | 1.88% | 39.8 | 31.4 | 9.7 | — | 1.51% |
| EXC | Exelon Corporation | 1.87% | 16.0 | 13.7 | 1.8 | 3.86% | 3.77% |
| GEHC | GE HealthCare Technologies Inc. | 1.87% | 16.0 | 12.1 | 1.5 | 0.23% | 3.76% |
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 QQXT valuation
Adding up its 51 holdings with company data, QQXT trades at 30.2 times trailing earnings and 20.1 times analysts' forward estimates, with a price-to-book ratio of 4.77 and a dividend yield of 1.25%. Its earnings yield of 3.31% is 2.02 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 21.1% of the fund and earn 24.8% of its combined profit. By sector, Technology is the most expensive at 175.0 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 11.3% 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 94.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QQXT chart, QQXT performance, QQXT holdings, QQXT dividends.
QQXT valuation FAQ
What is the P/E ratio of QQXT?
Based on its holdings, QQXT has a trailing P/E of 30.2 and a forward P/E of 20.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QQXT?
The trailing earnings yield is 3.31% (1 ÷ P/E) and the forward earnings yield 4.97%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QQXT more expensive than the S&P 500?
QQXT trades at 30.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.1 and 19.9.
What is the price-to-book ratio of QQXT?
The holdings of QQXT trade at 4.77 times book value, with a combined return on equity of 15.8%.
Which sector in QQXT has the highest P/E?
Technology has the highest P/E at 175.0 and Financial Services the lowest at 10.7.