Invesco S&P 500 Revenue ETF (RWL) Valuation
RWL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.7 trailing earnings
- Forward P/E
- 14.9 analyst estimates
- Price / sales
- 0.97
- Price / book
- 3.14
- EV / EBITDA
- 12.7
- Earnings yield
- 4.40% inverse of P/E
- Dividend yield
- 1.62% of the holdings
- Return on equity
- 13.8% combined
- Net margin
- 4.3% combined
- Beta
- 0.88 weighted, vs S&P 500
RWL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| RWL | 22.7 | 14.9 | 0.97 | 3.14 | 1.62% | 13.8% | 4.3% | 3.6% |
| 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.
RWL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 20.2% | 33.7 | 14.2 | 0.40 | 3.04 | 1.47% | 9.0% |
| Financial Services | 14.4% | 13.3 | 12.6 | 2.34 | 1.87 | 1.70% | 14.1% |
| Technology | 14.0% | 26.0 | 19.2 | 3.57 | 6.07 | 0.85% | 23.4% |
| Consumer Defensive | 11.9% | 32.3 | 20.8 | 0.82 | 4.84 | 1.94% | 15.0% |
| Consumer Cyclical | 11.7% | 33.5 | 14.8 | 1.10 | 3.56 | 1.49% | 10.6% |
| Industrials | 8.3% | 22.7 | 17.3 | 1.60 | 4.65 | 1.56% | 20.5% |
| Energy | 7.3% | 19.1 | 11.0 | 1.43 | 2.72 | 2.06% | 14.2% |
| Communication Services | 7.0% | 13.7 | 11.8 | 1.78 | 2.55 | 1.90% | 18.6% |
| Utilities | 2.4% | 16.9 | 13.7 | 2.08 | 1.97 | 3.11% | 11.7% |
| Basic Materials | 1.9% | 59.3 | 14.4 | 1.40 | 2.56 | 2.09% | 4.3% |
| Real Estate | 0.9% | 33.9 | 25.0 | 2.65 | 3.07 | 2.88% | 9.0% |
RWL 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 RWL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
RWL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WMT | Walmart Inc. | 4.31% | 43.0 | 38.0 | 1.3 | 0.83% | 2.28% |
| AMZN | Amazon.com, Inc. | 3.59% | 20.1 | 23.6 | 3.5 | — | 4.07% |
| AAPL | Apple Inc. | 2.57% | 39.4 | 35.2 | 10.7 | 0.31% | 1.49% |
| UNH | UnitedHealth Group Incorporated | 2.47% | 25.8 | 16.6 | 0.8 | 2.31% | 2.18% |
| MCK | McKesson Corporation | 2.37% | 26.9 | 19.7 | 0.3 | 0.37% | 2.01% |
| BRK.B | Berkshire Hathaway Inc. | 2.13% | 13.4 | 22.7 | 3.0 | — | 3.62% |
| XOM | Exxon Mobil Corporation | 2.08% | 23.0 | 14.8 | 2.0 | 2.30% | 2.05% |
| CVS | CVS Health Corporation | 1.93% | 24.3 | 10.7 | 0.3 | 2.88% | 1.81% |
| MSFT | Microsoft Corporation | 1.80% | 29.5 | 25.1 | 11.8 | 0.74% | 1.40% |
| COR | Cencora | 1.70% | 25.3 | 15.7 | 0.2 | 0.70% | 1.53% |
| CI | Cigna Corporation | 1.62% | 12.5 | 8.3 | 0.3 | 2.06% | 2.95% |
| COST | Costco Wholesale Corporation | 1.57% | 47.6 | 40.3 | 1.4 | 0.59% | 0.75% |
| NVDA | NVIDIA Corporation | 1.43% | 27.1 | 24.9 | 17.1 | 0.47% | 1.20% |
| JPM | JPMorgan Chase & Co. | 1.41% | 14.2 | 13.5 | 4.7 | 1.94% | 2.26% |
| CAH | Cardinal Health, Inc. | 1.34% | 35.1 | 17.7 | 0.2 | 0.81% | 0.87% |
| CVX | Chevron Corporation | 1.16% | 21.2 | 15.2 | 2.1 | 3.16% | 1.24% |
| ELV | Elevance Health Inc. | 1.15% | 19.0 | 13.7 | 0.5 | 1.61% | 1.39% |
| META | Meta Platforms, Inc. | 1.15% | 26.7 | 22.1 | 7.9 | 0.30% | 0.98% |
| CNC | Centene Corporation | 1.10% | — | 11.2 | 0.2 | — | −3.79% |
| GOOG | Alphabet Inc. | 1.09% | 16.9 | 21.8 | 9.2 | 0.26% | 1.46% |
| GOOGL | Alphabet Inc. | 1.08% | 17.1 | 22.8 | 9.3 | 0.26% | 1.44% |
| MPC | Marathon Petroleum Corporation | 0.90% | 16.6 | 5.5 | 0.9 | 0.84% | 1.25% |
| HD | The Home Depot, Inc. | 0.90% | 21.5 | 19.8 | 1.8 | 3.01% | 0.95% |
| PSX | Phillips 66 | 0.86% | 16.8 | 9.7 | 0.8 | 1.81% | 1.17% |
| KR | The Kroger Co. | 0.85% | 35.4 | 11.3 | 0.3 | 2.45% | 0.55% |
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 RWL valuation
Adding up its 496 holdings with company data, RWL trades at 22.7 times trailing earnings and 14.9 times analysts' forward estimates, with a price-to-book ratio of 3.14 and a dividend yield of 1.62%. Its earnings yield of 4.40% is 0.92 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 25.0% of the fund and earn 22.4% of its combined profit. By sector, Basic Materials is the most expensive at 59.3 times earnings and Financial Services the cheapest at 13.3. Companies that lost money over the past year are 3.6% 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 99.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: RWL chart, RWL performance, RWL holdings, RWL dividends.
RWL valuation FAQ
What is the P/E ratio of RWL?
Based on its holdings, RWL has a trailing P/E of 22.7 and a forward P/E of 14.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of RWL?
The trailing earnings yield is 4.40% (1 ÷ P/E) and the forward earnings yield 6.73%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is RWL more expensive than the S&P 500?
RWL trades at 22.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.9 and 19.9.
What is the price-to-book ratio of RWL?
The holdings of RWL trade at 3.14 times book value, with a combined return on equity of 13.8%.
Which sector in RWL has the highest P/E?
Basic Materials has the highest P/E at 59.3 and Financial Services the lowest at 13.3.