ProShares Short Financials (SEF) Valuation
SEF valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 16.3 trailing earnings
- Forward P/E
- 14.8 analyst estimates
- Price / sales
- 3.38
- Price / book
- 2.23
- EV / EBITDA
- 17.9
- Earnings yield
- 6.13% inverse of P/E
- Dividend yield
- 2.10% of the holdings
- Return on equity
- 13.7% combined
- Net margin
- 20.7% combined
- Beta
- 0.90 weighted, vs S&P 500
SEF valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SEF | 16.3 | 14.8 | 3.38 | 2.23 | 2.10% | 13.7% | 20.7% | 0.9% |
| 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.
SEF valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 70.4% | 14.8 | 13.6 | 3.14 | 2.15 | 1.72% | 14.5% |
| Real Estate | 14.9% | 33.5 | 26.6 | 5.42 | 2.77 | 4.05% | 8.3% |
SEF 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 SEF weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SEF largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| JPM | JPMorgan Chase & Co. | 7.60% | 14.2 | 13.5 | 4.7 | 1.94% | 10.57% |
| BRK.B | Berkshire Hathaway Inc. | 7.24% | 13.4 | 22.7 | 3.0 | — | 10.71% |
| V | Visa Inc. | 5.74% | 34.3 | 24.0 | 17.0 | 0.67% | 3.32% |
| MA | Mastercard Incorporated | 4.72% | 34.0 | 24.2 | 15.4 | 0.56% | 2.75% |
| BAC | Bank of America Corporation | 4.55% | 12.2 | 10.8 | 3.1 | 2.50% | 7.38% |
| WFC | Wells Fargo & Company | 3.18% | 11.8 | 10.2 | 3.0 | 2.38% | 5.32% |
| C | Citigroup Inc. | 2.87% | 12.1 | 10.2 | 2.5 | 2.16% | 4.69% |
| AMT | American Tower Corporation | 1.73% | 25.5 | 24.6 | 7.9 | 3.86% | 1.35% |
| AXP | American Express Company | 1.44% | 19.0 | 15.1 | 3.0 | 1.21% | 1.50% |
| GS | The Goldman Sachs Group, Inc. | 1.36% | 12.7 | 12.8 | 3.6 | 2.27% | 2.13% |
| CME | CME Group Inc. | 1.28% | 24.9 | 21.9 | 15.6 | 1.77% | 1.02% |
| USB | U.S. Bancorp | 1.27% | 11.4 | 10.4 | 3.3 | 3.68% | 2.20% |
| TFC | Truist Financial Corporation | 1.27% | 10.8 | 9.6 | 3.0 | 4.47% | 2.32% |
| CB | Chubb Limited | 1.22% | 12.7 | 11.6 | 2.2 | 1.13% | 1.89% |
| MS | Morgan Stanley | 1.20% | 14.3 | 14.9 | 3.6 | 2.55% | 1.66% |
| SPGI | S&P Global Inc. | 1.19% | 26.1 | 19.9 | 7.9 | 0.90% | 0.90% |
| PNC | The PNC Financial Services Group, Inc. | 1.17% | 11.6 | 10.7 | 3.5 | 3.68% | 2.01% |
| BLK | BlackRock, Inc. | 1.05% | 25.8 | 16.4 | 6.5 | 2.02% | 0.81% |
| CCI | Crown Castle Inc. | 1.01% | 33.4 | 21.2 | 8.4 | 5.17% | 0.60% |
| PLD | Prologis, Inc. | 1.00% | 27.7 | 29.2 | 12.4 | 3.40% | 0.72% |
| MRSH | Marsh & McLennan Companies, Inc. | 0.96% | 22.5 | 15.0 | 3.2 | 2.10% | 0.85% |
| SCHW | The Charles Schwab Corporation | 0.96% | 15.7 | 12.9 | 5.9 | 1.39% | 1.21% |
| ICE | Intercontinental Exchange, Inc. | 0.91% | 22.8 | 18.1 | 8.6 | 1.29% | 0.79% |
| AON | Aon plc | 0.84% | 16.1 | 13.5 | 3.5 | 1.12% | 1.04% |
| COF | Capital One Financial Corporation | 0.84% | 13.0 | 8.5 | 2.6 | 1.59% | 1.28% |
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 SEF valuation
Adding up its 94 holdings with company data, SEF trades at 16.3 times trailing earnings and 14.8 times analysts' forward estimates, with a price-to-book ratio of 2.23 and a dividend yield of 2.10%. Its earnings yield of 6.13% is 0.81 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 40.4% of the fund and earn 49.7% of its combined profit. By sector, Real Estate is the most expensive at 33.5 times earnings and Financial Services the cheapest at 14.8. Companies that lost money over the past year are 0.9% 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 96.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SEF chart, SEF performance, SEF holdings, SEF dividends.
SEF valuation FAQ
What is the P/E ratio of SEF?
Based on its holdings, SEF has a trailing P/E of 16.3 and a forward P/E of 14.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SEF?
The trailing earnings yield is 6.13% (1 ÷ P/E) and the forward earnings yield 6.76%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SEF more expensive than the S&P 500?
SEF trades at 16.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.8 and 19.9.
What is the price-to-book ratio of SEF?
The holdings of SEF trade at 2.23 times book value, with a combined return on equity of 13.7%.
Which sector in SEF has the highest P/E?
Real Estate has the highest P/E at 33.5 and Financial Services the lowest at 14.8.