ProShares UltraShort Technology (REW) Valuation
REW valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 32.9 trailing earnings
- Forward P/E
- 21.5 analyst estimates
- Price / sales
- 5.09
- Price / book
- 7.94
- EV / EBITDA
- 18.6
- Earnings yield
- 3.04% inverse of P/E
- Dividend yield
- 0.65% of the holdings
- Return on equity
- 24.1% combined
- Net margin
- 15.5% combined
- Beta
- 1.27 weighted, vs S&P 500
REW valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| REW | 32.9 | 21.5 | 5.09 | 7.94 | 0.65% | 24.1% | 15.5% | 4.9% |
| 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.
REW valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 79.1% | 31.8 | 21.8 | 5.92 | 8.50 | 0.73% | 26.7% |
| Communication Services | 16.5% | 22.6 | 21.3 | 6.06 | 6.16 | 0.26% | 27.2% |
| Consumer Cyclical | 0.5% | 25.2 | 16.2 | 3.97 | 11.47 | 0.84% | 45.4% |
| Industrials | 0.3% | n/m | 5.5 | 0.10 | 2.86 | 3.51% | −305.1% |
REW 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 REW weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
REW largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 17.65% | 29.5 | 25.1 | 11.8 | 0.74% | 21.28% |
| AAPL | Apple Inc. | 17.16% | 39.4 | 35.2 | 10.7 | 0.31% | 15.48% |
| GOOGL | Alphabet Inc. | 5.38% | 17.1 | 22.8 | 9.3 | 0.26% | 11.17% |
| GOOG | Alphabet Inc. | 5.20% | 16.9 | 21.8 | 9.2 | 0.26% | 10.92% |
| META | Meta Platforms, Inc. | 4.42% | 26.7 | 22.1 | 7.9 | 0.30% | 5.87% |
| INTC | Intel Corporation | 3.81% | — | 63.3 | 8.3 | — | −3.20% |
| CSCO | Cisco Systems, Inc. | 3.04% | 32.2 | 19.8 | 6.7 | 1.56% | 3.35% |
| ADBE | Adobe Inc. | 2.60% | 13.7 | 8.7 | 3.7 | — | 6.76% |
| CRM | Salesforce, Inc. | 2.46% | 22.0 | 14.0 | 4.5 | 0.73% | 3.97% |
| NVDA | NVIDIA Corporation | 2.19% | 27.1 | 24.9 | 17.1 | 0.47% | 2.88% |
| IBM | International Business Machines Corporation | 1.86% | 20.6 | 17.4 | 3.2 | 2.91% | 3.20% |
| AVGO | Broadcom Inc. | 1.86% | 43.3 | 19.4 | 17.6 | 0.79% | 1.52% |
| ORCL | Oracle Corporation | 1.82% | 20.1 | 17.8 | 5.4 | 1.56% | 3.21% |
| TXN | Texas Instruments Incorporated | 1.80% | 42.1 | 27.5 | 13.0 | 2.20% | 1.52% |
| QCOM | QUALCOMM Incorporated | 1.59% | 19.9 | 19.6 | 4.2 | 2.14% | 2.83% |
| INTU | Intuit Inc. | 1.13% | 19.8 | 12.7 | 4.1 | 1.70% | 2.04% |
| MU | Micron Technology, Inc. | 0.98% | 11.8 | 7.0 | 7.5 | 0.07% | 2.94% |
| NOW | ServiceNow, Inc. | 0.91% | 88.7 | 27.8 | 10.0 | — | 0.37% |
| AMAT | Applied Materials, Inc. | 0.90% | 35.3 | 23.4 | 10.5 | 0.52% | 0.91% |
| AMD | Advanced Micro Devices, Inc. | 0.81% | 134.9 | 39.5 | 20.9 | — | 0.21% |
| LRCX | Lam Research Corporation | 0.67% | 45.8 | 33.7 | 14.2 | 0.50% | 0.52% |
| ADI | Analog Devices, Inc. | 0.65% | 47.0 | 23.2 | 13.8 | 1.11% | 0.49% |
| ADSK | Autodesk, Inc. | 0.64% | 31.1 | 17.6 | 6.4 | — | 0.73% |
| CTSH | Cognizant Technology Solutions Corporation | 0.52% | 14.2 | 9.4 | 1.4 | 2.00% | 1.30% |
| HPQ | HP Inc. | 0.46% | 11.5 | 9.9 | 0.5 | 4.00% | 1.43% |
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 REW valuation
Adding up its 83 holdings with company data, REW trades at 32.9 times trailing earnings and 21.5 times analysts' forward estimates, with a price-to-book ratio of 7.94 and a dividend yield of 0.65%. Its earnings yield of 3.04% is 2.29 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 63.9% of the fund and earn 78.5% of its combined profit. By sector, Technology is the most expensive at 31.8 times earnings and Communication Services the cheapest at 22.6. Companies that lost money over the past year are 4.9% 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 95.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: REW chart, REW performance, REW holdings, REW dividends.
REW valuation FAQ
What is the P/E ratio of REW?
Based on its holdings, REW has a trailing P/E of 32.9 and a forward P/E of 21.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of REW?
The trailing earnings yield is 3.04% (1 ÷ P/E) and the forward earnings yield 4.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is REW more expensive than the S&P 500?
REW trades at 32.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.5 and 19.9.
What is the price-to-book ratio of REW?
The holdings of REW trade at 7.94 times book value, with a combined return on equity of 24.1%.
Which sector in REW has the highest P/E?
Technology has the highest P/E at 31.8 and Communication Services the lowest at 22.6.