iShares MSCI USA Size Factor ETF (SIZE) Valuation
SIZE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.4 trailing earnings
- Forward P/E
- 22.0 analyst estimates
- Price / sales
- 4.81
- Price / book
- 7.46
- EV / EBITDA
- 18.0
- Earnings yield
- 3.65% inverse of P/E
- Dividend yield
- 0.98% of the holdings
- Return on equity
- 27.3% combined
- Net margin
- 17.6% combined
- Beta
- 1.02 weighted, vs S&P 500
SIZE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SIZE | 27.4 | 22.0 | 4.81 | 7.46 | 0.98% | 27.3% | 17.6% | 0.7% |
| 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.
SIZE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 39.4% | 31.3 | 24.9 | 8.65 | 13.56 | 0.66% | 43.3% |
| Financial Services | 12.3% | 20.3 | 18.8 | 4.84 | 4.05 | 0.81% | 19.9% |
| Healthcare | 9.9% | 48.3 | 20.9 | 8.17 | 11.41 | 1.21% | 23.6% |
| Communication Services | 9.5% | 21.5 | 20.7 | 7.60 | 7.51 | 0.26% | 34.9% |
| Consumer Cyclical | 8.8% | 23.1 | 21.5 | 2.11 | 8.76 | 1.03% | 38.0% |
| Industrials | 7.1% | 29.9 | 23.2 | 3.48 | 14.90 | 1.40% | 49.8% |
| Consumer Defensive | 4.6% | 31.0 | 27.4 | 2.11 | 8.78 | 1.71% | 28.3% |
| Energy | 3.6% | 19.7 | 13.8 | 2.16 | 2.41 | 2.29% | 12.2% |
| Utilities | 2.1% | 19.9 | 17.1 | 3.46 | 1.79 | 2.86% | 9.0% |
| Basic Materials | 1.8% | 31.0 | 22.8 | 5.13 | 6.27 | 1.12% | 20.3% |
| Real Estate | 1.5% | 27.3 | 26.0 | 4.19 | 3.42 | 3.23% | 12.5% |
SIZE 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 SIZE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SIZE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 8.04% | 29.5 | 25.1 | 11.8 | 0.74% | 7.41% |
| AAPL | Apple Inc. | 7.72% | 39.4 | 35.2 | 10.7 | 0.31% | 5.33% |
| NVDA | NVIDIA Corporation | 6.37% | 27.1 | 24.9 | 17.1 | 0.47% | 6.39% |
| LLY | Eli Lilly and Company | 4.15% | 42.2 | 24.4 | 14.1 | 0.55% | 2.67% |
| META | Meta Platforms, Inc. | 4.03% | 26.7 | 22.1 | 7.9 | 0.30% | 4.10% |
| TJX | The TJX Companies, Inc. | 3.72% | 27.3 | 24.9 | 2.6 | 1.30% | 3.70% |
| V | Visa Inc. | 3.35% | 34.3 | 24.0 | 17.0 | 0.67% | 2.66% |
| LRCX | Lam Research Corporation | 2.80% | 45.8 | 33.7 | 14.2 | 0.50% | 1.66% |
| XOM | Exxon Mobil Corporation | 2.50% | 23.0 | 14.8 | 2.0 | 2.30% | 2.95% |
| MA | Mastercard Incorporated | 2.48% | 34.0 | 24.2 | 15.4 | 0.56% | 1.99% |
| AMAT | Applied Materials, Inc. | 2.35% | 35.3 | 23.4 | 10.5 | 0.52% | 1.81% |
| JNJ | Johnson & Johnson | 2.14% | 38.8 | 21.0 | 6.2 | 2.10% | 1.50% |
| KLAC | KLA Corporation | 1.91% | 45.3 | 34.8 | 15.9 | 0.56% | 1.15% |
| BRK.B | Berkshire Hathaway Inc. | 1.90% | 13.4 | 22.7 | 3.0 | — | 3.86% |
| GOOGL | Alphabet Inc. | 1.89% | 17.1 | 22.8 | 9.3 | 0.26% | 3.00% |
| NFLX | Netflix, Inc. | 1.59% | 22.2 | 18.7 | 6.1 | — | 1.95% |
| GOOG | Alphabet Inc. | 1.46% | 16.9 | 21.8 | 9.2 | 0.26% | 2.34% |
| ROST | Ross Stores, Inc. | 1.43% | 28.6 | 27.4 | 3.1 | 0.75% | 1.36% |
| MRK | Merck & Co., Inc. | 1.37% | 115.8 | 15.3 | 5.4 | 2.33% | 0.32% |
| ADP | Automatic Data Processing, Inc. | 1.36% | 26.4 | 22.0 | 5.2 | 2.35% | 1.40% |
| ANET | Arista Networks, Inc. | 1.25% | 55.8 | 39.2 | 21.2 | — | 0.61% |
| FTNT | Fortinet, Inc. | 1.23% | 59.8 | 45.0 | 16.5 | — | 0.56% |
| COST | Costco Wholesale Corporation | 1.17% | 47.6 | 40.3 | 1.4 | 0.59% | 0.67% |
| ACN | Accenture plc | 1.09% | 16.9 | 12.4 | 1.9 | 2.98% | 1.75% |
| ADBE | Adobe Inc. | 1.06% | 13.7 | 8.7 | 3.7 | — | 2.11% |
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 SIZE valuation
Adding up its 118 holdings with company data, SIZE trades at 27.4 times trailing earnings and 22.0 times analysts' forward estimates, with a price-to-book ratio of 7.46 and a dividend yield of 0.98%. Its earnings yield of 3.65% is 1.67 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 45.1% of the fund and earn 38.9% of its combined profit. By sector, Healthcare is the most expensive at 48.3 times earnings and Energy the cheapest at 19.7. Companies that lost money over the past year are 0.7% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SIZE chart, SIZE performance, SIZE holdings, SIZE dividends.
SIZE valuation FAQ
What is the P/E ratio of SIZE?
Based on its holdings, SIZE has a trailing P/E of 27.4 and a forward P/E of 22.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SIZE?
The trailing earnings yield is 3.65% (1 ÷ P/E) and the forward earnings yield 4.55%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SIZE more expensive than the S&P 500?
SIZE trades at 27.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.0 and 19.9.
What is the price-to-book ratio of SIZE?
The holdings of SIZE trade at 7.46 times book value, with a combined return on equity of 27.3%.
Which sector in SIZE has the highest P/E?
Healthcare has the highest P/E at 48.3 and Energy the lowest at 19.7.