Invesco S&P 500 QVM Multi-factor ETF (QVML) Valuation
QVML valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.0 trailing earnings
- Forward P/E
- 19.2 analyst estimates
- Price / sales
- 3.38
- Price / book
- 5.06
- EV / EBITDA
- 16.9
- Earnings yield
- 4.01% inverse of P/E
- Dividend yield
- 1.13% of the holdings
- Return on equity
- 20.3% combined
- Net margin
- 13.6% combined
- Beta
- 1.13 weighted, vs S&P 500
QVML valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QVML | 25.0 | 19.2 | 3.38 | 5.06 | 1.13% | 20.3% | 13.6% | 1.5% |
| 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.
QVML valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 41.0% | 31.8 | 23.2 | 9.19 | 12.62 | 0.57% | 39.7% |
| Financial Services | 13.0% | 15.8 | 14.6 | 3.43 | 2.38 | 1.48% | 15.1% |
| Healthcare | 10.1% | 34.0 | 17.5 | 1.56 | 4.66 | 1.43% | 13.7% |
| Industrials | 7.0% | 27.2 | 21.0 | 2.71 | 5.90 | 1.32% | 21.7% |
| Consumer Cyclical | 7.0% | 22.0 | 19.0 | 2.09 | 4.79 | 0.73% | 21.8% |
| Communication Services | 6.7% | 16.5 | 16.7 | 3.63 | 4.01 | 1.01% | 24.3% |
| Consumer Defensive | 5.0% | 29.1 | 22.0 | 1.63 | 6.31 | 2.20% | 21.7% |
| Energy | 3.9% | 19.7 | 12.8 | 1.87 | 2.51 | 2.31% | 12.8% |
| Utilities | 2.1% | 19.1 | 15.6 | 2.82 | 2.05 | 3.09% | 10.7% |
| Basic Materials | 1.9% | 31.2 | 17.1 | 2.99 | 3.88 | 1.35% | 12.4% |
| Real Estate | 1.7% | 34.6 | 31.8 | 5.20 | 2.72 | 3.20% | 7.8% |
QVML 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 QVML weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QVML largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 8.64% | 27.1 | 24.9 | 17.1 | 0.47% | 8.04% |
| AAPL | Apple Inc. | 8.59% | 39.4 | 35.2 | 10.7 | 0.31% | 5.49% |
| MSFT | Microsoft Corporation | 6.77% | 29.5 | 25.1 | 11.8 | 0.74% | 5.78% |
| GOOGL | Alphabet Inc. | 4.30% | 17.1 | 22.8 | 9.3 | 0.26% | 6.34% |
| AMZN | Amazon.com, Inc. | 4.15% | 20.1 | 23.6 | 3.5 | — | 5.19% |
| AVGO | Broadcom Inc. | 2.69% | 43.3 | 19.4 | 17.6 | 0.79% | 1.57% |
| LLY | Eli Lilly and Company | 1.78% | 42.2 | 24.4 | 14.1 | 0.55% | 1.06% |
| BRK.B | Berkshire Hathaway Inc. | 1.76% | 13.4 | 22.7 | 3.0 | — | 3.31% |
| MU | Micron Technology, Inc. | 1.48% | 11.8 | 7.0 | 7.5 | 0.07% | 3.15% |
| JPM | JPMorgan Chase & Co. | 1.44% | 14.2 | 13.5 | 4.7 | 1.94% | 2.55% |
| AMD | Advanced Micro Devices, Inc. | 1.34% | 134.9 | 39.5 | 20.9 | — | 0.25% |
| V | Visa Inc. | 1.24% | 34.3 | 24.0 | 17.0 | 0.67% | 0.91% |
| XOM | Exxon Mobil Corporation | 1.20% | 23.0 | 14.8 | 2.0 | 2.30% | 1.32% |
| JNJ | Johnson & Johnson | 1.08% | 38.8 | 21.0 | 6.2 | 2.10% | 0.70% |
| MA | Mastercard Incorporated | 0.95% | 34.0 | 24.2 | 15.4 | 0.56% | 0.70% |
| WMT | Walmart Inc. | 0.93% | 43.0 | 38.0 | 1.3 | 0.83% | 0.54% |
| COST | Costco Wholesale Corporation | 0.82% | 47.6 | 40.3 | 1.4 | 0.59% | 0.43% |
| CSCO | Cisco Systems, Inc. | 0.75% | 32.2 | 19.8 | 6.7 | 1.56% | 0.59% |
| PG | The Procter & Gamble Company | 0.74% | 24.1 | 21.2 | 4.3 | 2.73% | 0.77% |
| CVX | Chevron Corporation | 0.71% | 21.2 | 15.2 | 2.1 | 3.16% | 0.84% |
| UNH | UnitedHealth Group Incorporated | 0.65% | 25.8 | 16.6 | 0.8 | 2.31% | 0.64% |
| INTC | Intel Corporation | 0.62% | — | 63.3 | 8.3 | — | −0.37% |
| PANW | Palo Alto Networks, Inc. | 0.61% | 855.0 | 94.3 | 24.4 | — | 0.02% |
| KO | The Coca-Cola Company | 0.60% | 28.2 | 25.3 | 8.1 | 2.26% | 0.54% |
| MRK | Merck & Co., Inc. | 0.59% | 115.8 | 15.3 | 5.4 | 2.33% | 0.13% |
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 QVML valuation
Adding up its 429 holdings with company data, QVML trades at 25.0 times trailing earnings and 19.2 times analysts' forward estimates, with a price-to-book ratio of 5.06 and a dividend yield of 1.13%. Its earnings yield of 4.01% is 1.32 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 41.6% of the fund and earn 42.5% of its combined profit. By sector, Real Estate is the most expensive at 34.6 times earnings and Financial Services the cheapest at 15.8. Companies that lost money over the past year are 1.5% 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 99.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QVML chart, QVML performance, QVML holdings, QVML dividends.
QVML valuation FAQ
What is the P/E ratio of QVML?
Based on its holdings, QVML has a trailing P/E of 25.0 and a forward P/E of 19.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QVML?
The trailing earnings yield is 4.01% (1 ÷ P/E) and the forward earnings yield 5.20%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QVML more expensive than the S&P 500?
QVML trades at 25.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.2 and 19.9.
What is the price-to-book ratio of QVML?
The holdings of QVML trade at 5.06 times book value, with a combined return on equity of 20.3%.
Which sector in QVML has the highest P/E?
Real Estate has the highest P/E at 34.6 and Financial Services the lowest at 15.8.