Alpha Architect U.S. Quantitative Value ETF (QVAL) Valuation
QVAL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 12.5 trailing earnings
- Forward P/E
- 10.4 analyst estimates
- Price / sales
- 1.04
- Price / book
- 2.34
- EV / EBITDA
- 7.1
- Earnings yield
- 8.03% inverse of P/E
- Dividend yield
- 1.93% of the holdings
- Return on equity
- 18.8% combined
- Net margin
- 8.4% combined
- Beta
- 0.87 weighted, vs S&P 500
QVAL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QVAL | 12.5 | 10.4 | 1.04 | 2.34 | 1.93% | 18.8% | 8.4% | 0.0% |
| 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.
QVAL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 27.2% | 13.5 | 9.8 | 1.47 | 2.13 | 1.70% | 15.8% |
| Consumer Cyclical | 23.8% | 12.3 | 10.8 | 0.87 | 2.81 | 1.39% | 22.8% |
| Healthcare | 13.9% | 15.6 | 12.7 | 0.65 | 2.78 | 1.23% | 17.9% |
| Technology | 8.4% | 13.1 | 9.8 | 1.26 | 1.67 | 1.85% | 12.7% |
| Industrials | 7.3% | 11.7 | 8.5 | 0.83 | 2.46 | 1.65% | 21.0% |
| Basic Materials | 7.3% | 11.6 | 12.7 | 3.40 | 4.13 | 2.58% | 35.7% |
| Consumer Defensive | 6.1% | 13.9 | 12.3 | 2.05 | 4.78 | 2.95% | 34.3% |
| Communication Services | 3.5% | 7.4 | 7.3 | 0.82 | 1.12 | 5.41% | 15.2% |
| Utilities | 2.1% | 5.8 | 8.2 | 1.11 | 1.18 | 6.28% | 20.5% |
QVAL 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 QVAL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QVAL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ACN | Accenture plc | 2.64% | 16.9 | 12.4 | 1.9 | 2.98% | 1.99% |
| MPC | Marathon Petroleum Corporation | 2.34% | 16.6 | 5.5 | 0.9 | 0.84% | 1.80% |
| DINO | HF Sinclair Corporation | 2.20% | 11.9 | 10.0 | 0.7 | 1.68% | 2.35% |
| EXPE | Expedia Group, Inc. | 2.20% | 18.0 | 11.3 | 2.2 | 0.66% | 1.55% |
| URBN | Urban Outfitters, Inc. | 2.18% | 13.5 | 11.9 | 1.1 | — | 2.05% |
| APA | APA Corporation | 2.14% | 10.4 | 9.4 | 2.0 | 2.03% | 2.63% |
| ANF | Abercrombie & Fitch Co. | 2.14% | 13.2 | 10.0 | 1.2 | — | 2.06% |
| COP | ConocoPhillips | 2.13% | 19.4 | 12.7 | 2.7 | 2.29% | 1.40% |
| STZ | Constellation Brands, Inc. | 2.12% | 11.8 | 10.0 | 2.4 | 3.14% | 2.30% |
| PSX | Phillips 66 | 2.11% | 16.8 | 9.7 | 0.8 | 1.81% | 1.61% |
| UTHR | United Therapeutics Corporation | 2.11% | 19.1 | 16.4 | 7.2 | — | 1.41% |
| VLO | Valero Energy Corporation | 2.10% | 18.5 | 10.2 | 1.0 | 1.08% | 1.44% |
| CI | Cigna Corporation | 2.10% | 12.5 | 8.3 | 0.3 | 2.06% | 2.14% |
| ADT | ADT Inc. | 2.10% | 9.4 | 6.3 | 1.0 | 3.20% | 2.84% |
| ELV | Elevance Health Inc. | 2.08% | 19.0 | 13.7 | 0.5 | 1.61% | 1.40% |
| EQT | EQT Corporation | 2.08% | 12.6 | 14.1 | 3.7 | 1.25% | 2.11% |
| DLTR | Dollar Tree, Inc. | 2.08% | 15.1 | 16.9 | 1.2 | — | 1.75% |
| EOG | EOG Resources, Inc. | 2.07% | 12.3 | 10.1 | 3.1 | 2.58% | 2.15% |
| THC | Tenet Healthcare Corporation | 2.06% | 10.5 | 12.5 | 1.0 | — | 2.49% |
| EIX | Edison International | 2.05% | 5.8 | 8.2 | 1.1 | 6.28% | 4.55% |
| RRC | Range Resources Corporation | 2.05% | 11.9 | 10.0 | 3.1 | 0.93% | 2.20% |
| LNG | Cheniere Energy, Inc. | 2.04% | 21.9 | 13.5 | 2.9 | 0.77% | 1.19% |
| DVN | Devon Energy Corporation | 2.03% | 11.1 | 9.3 | 3.0 | 2.52% | 2.35% |
| ADBE | Adobe Inc. | 2.03% | 13.7 | 8.7 | 3.7 | — | 1.89% |
| HUM | Humana Inc. | 2.02% | 39.1 | 24.3 | 0.3 | 0.86% | 0.66% |
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 QVAL valuation
Adding up its 49 holdings with company data, QVAL trades at 12.5 times trailing earnings and 10.4 times analysts' forward estimates, with a price-to-book ratio of 2.34 and a dividend yield of 1.93%. Its earnings yield of 8.03% is 2.70 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 22.2% of the fund and earn 19.8% of its combined profit. By sector, Healthcare is the most expensive at 15.6 times earnings and Utilities the cheapest at 5.8. Companies that lost money over the past year are 0.0% 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 97.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QVAL chart, QVAL performance, QVAL holdings, QVAL dividends.
QVAL valuation FAQ
What is the P/E ratio of QVAL?
Based on its holdings, QVAL has a trailing P/E of 12.5 and a forward P/E of 10.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QVAL?
The trailing earnings yield is 8.03% (1 ÷ P/E) and the forward earnings yield 9.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QVAL more expensive than the S&P 500?
QVAL trades at 12.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.4 and 19.9.
What is the price-to-book ratio of QVAL?
The holdings of QVAL trade at 2.34 times book value, with a combined return on equity of 18.8%.
Which sector in QVAL has the highest P/E?
Healthcare has the highest P/E at 15.6 and Utilities the lowest at 5.8.