SPDR S&P 600 Small Cap Growth ETF (SLYG) Valuation
SLYG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.5 trailing earnings
- Forward P/E
- 17.1 analyst estimates
- Price / sales
- 1.58
- Price / book
- 2.99
- EV / EBITDA
- 14.0
- Earnings yield
- 3.78% inverse of P/E
- Dividend yield
- 1.06% of the holdings
- Return on equity
- 11.3% combined
- Net margin
- 6.0% combined
- Beta
- 1.13 weighted, vs S&P 500
SLYG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SLYG | 26.5 | 17.1 | 1.58 | 2.99 | 1.06% | 11.3% | 6.0% | 10.0% |
| 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.
SLYG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 17.4% | 25.9 | 18.0 | 2.25 | 3.53 | 0.18% | 13.6% |
| Industrials | 17.3% | 31.5 | 18.5 | 1.85 | 3.56 | 0.52% | 11.3% |
| Healthcare | 16.1% | 44.4 | 19.6 | 2.98 | 4.16 | 0.07% | 9.4% |
| Financial Services | 14.7% | 20.4 | 11.7 | 0.63 | 2.10 | 1.57% | 10.3% |
| Consumer Cyclical | 10.5% | 26.1 | 15.2 | 1.42 | 3.81 | 0.52% | 14.6% |
| Real Estate | 7.2% | 18.6 | 23.4 | 3.98 | 1.88 | 5.41% | 10.1% |
| Energy | 4.5% | 14.7 | 19.9 | 1.97 | 2.38 | 2.54% | 16.2% |
| Consumer Defensive | 3.7% | 23.3 | 18.6 | 1.56 | 3.06 | 0.76% | 13.2% |
| Basic Materials | 3.1% | 27.1 | 18.6 | 2.85 | 3.93 | 0.73% | 14.5% |
| Communication Services | 2.7% | n/m | 20.9 | 1.71 | 2.63 | 0.30% | −0.1% |
| Utilities | 1.7% | 21.7 | 21.3 | 3.11 | 1.97 | 3.97% | 9.1% |
SLYG 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 SLYG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SLYG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| RHP | Ryman Hospitality Properties, Inc. | 1.12% | 30.7 | 25.8 | 3.2 | 3.81% | 1.01% |
| PTGX | Protagonist Therapeutics, Inc. | 1.11% | 125.0 | 36.9 | 29.5 | — | 0.24% |
| VSAT | Viasat, Inc. | 1.03% | — | 144.9 | 1.8 | — | −0.10% |
| TGTX | TG Therapeutics, Inc. | 0.95% | 19.6 | 25.9 | 10.3 | — | 1.33% |
| ZWS | Zurn Elkay Water Solutions Corporation | 0.92% | 29.2 | 22.9 | 4.4 | 0.94% | 0.87% |
| ETSY | Etsy, Inc. | 0.91% | 24.9 | 14.9 | 2.7 | — | 1.01% |
| GKOS | Glaukos Corporation | 0.89% | — | — | 15.9 | — | −0.49% |
| ALKS | Alkermes plc | 0.88% | 108.5 | 133.3 | 4.1 | — | 0.23% |
| AWI | Armstrong World Industries, Inc. | 0.84% | 23.0 | 17.1 | 4.2 | 0.81% | 1.01% |
| LYFT | Lyft, Inc. | 0.83% | 2.5 | 9.3 | 0.9 | — | 9.14% |
| FSS | Federal Signal Corporation | 0.81% | 24.2 | 19.8 | 2.8 | 0.53% | 0.93% |
| MSGS | Madison Square Garden Sports Corp. | 0.80% | — | 72.5 | 8.3 | — | 0.02% |
| SNEX | StoneX Group Inc. | 0.78% | 18.9 | 9.8 | 0.0 | — | 1.14% |
| CWST | Casella Waste Systems, Inc. | 0.75% | 977.8 | 56.2 | 2.9 | — | 0.02% |
| LGND | Ligand Pharmaceuticals Incorporated | 0.72% | 31.1 | 24.8 | 20.3 | — | 0.64% |
| ESE | ESCO Technologies Inc. | 0.72% | 46.2 | 25.4 | 5.0 | 0.13% | 0.43% |
| FTDR | Frontdoor, Inc. | 0.71% | 20.8 | 14.5 | 2.5 | — | 0.94% |
| LTH | Life Time Group Holdings, Inc. | 0.70% | 22.1 | 20.2 | 2.8 | — | 0.87% |
| JBT | John Bean Technologies Corporation | 0.68% | — | — | — | — | — |
| SXT | Sensient Technologies Corporation | 0.67% | 36.0 | 22.7 | 3.3 | 1.23% | 0.51% |
| NPO | EnPro Industries, Inc. | 0.66% | 136.4 | 28.1 | 4.9 | 0.46% | 0.13% |
| AROC | Archrock, Inc. | 0.65% | 15.9 | 14.3 | 3.4 | 3.11% | 1.13% |
| AX | Axos Financial, Inc. | 0.64% | 10.4 | 9.6 | 3.6 | — | 1.71% |
| PTCT | PTC Therapeutics, Inc. | 0.64% | — | 22.7 | 4.9 | — | −0.19% |
| ECG | Everus Construction Group Inc | 0.62% | 22.1 | 19.2 | 1.3 | — | 0.78% |
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 SLYG valuation
Adding up its 334 holdings with company data, SLYG trades at 26.5 times trailing earnings and 17.1 times analysts' forward estimates, with a price-to-book ratio of 2.99 and a dividend yield of 1.06%. Its earnings yield of 3.78% is 1.55 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 9.5% of the fund and earn 14.3% of its combined profit. By sector, Healthcare is the most expensive at 44.4 times earnings and Energy the cheapest at 14.7. Companies that lost money over the past year are 10.0% 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 96.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SLYG chart, SLYG performance, SLYG holdings, SLYG dividends.
SLYG valuation FAQ
What is the P/E ratio of SLYG?
Based on its holdings, SLYG has a trailing P/E of 26.5 and a forward P/E of 17.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SLYG?
The trailing earnings yield is 3.78% (1 ÷ P/E) and the forward earnings yield 5.84%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SLYG more expensive than the S&P 500?
SLYG trades at 26.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.1 and 19.9.
What is the price-to-book ratio of SLYG?
The holdings of SLYG trade at 2.99 times book value, with a combined return on equity of 11.3%.
Which sector in SLYG has the highest P/E?
Healthcare has the highest P/E at 44.4 and Energy the lowest at 14.7.