AAM Bahl & Gaynor Small/Mid Cap Income Growth… (SMIG) Valuation
SMIG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 21.7 trailing earnings
- Forward P/E
- 16.6 analyst estimates
- Price / sales
- 1.50
- Price / book
- 2.86
- EV / EBITDA
- 12.7
- Earnings yield
- 4.61% inverse of P/E
- Dividend yield
- 2.39% of the holdings
- Return on equity
- 13.2% combined
- Net margin
- 6.9% combined
- Beta
- 0.84 weighted, vs S&P 500
SMIG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SMIG | 21.7 | 16.6 | 1.50 | 2.86 | 2.39% | 13.2% | 6.9% | 0.0% |
| 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.
SMIG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 21.5% | 13.5 | 10.6 | 1.62 | 1.89 | 1.92% | 13.9% |
| Industrials | 19.3% | 23.6 | 19.7 | 1.97 | 4.11 | 2.21% | 17.4% |
| Consumer Cyclical | 13.6% | 22.0 | 16.8 | 1.03 | 3.86 | 2.47% | 17.5% |
| Energy | 10.4% | 31.4 | 19.1 | 0.53 | 4.56 | 3.03% | 14.5% |
| Real Estate | 9.5% | 34.7 | 39.4 | 7.21 | 2.27 | 3.37% | 6.6% |
| Utilities | 8.9% | 21.5 | 17.0 | 3.34 | 2.02 | 2.95% | 9.4% |
| Technology | 6.2% | 25.0 | 16.6 | 4.06 | 6.84 | 1.38% | 27.4% |
| Healthcare | 4.0% | 476.2 | 27.2 | 1.59 | 2.77 | 2.15% | 0.6% |
| Basic Materials | 4.0% | 20.6 | 16.5 | 1.46 | 3.19 | 1.80% | 15.5% |
| Consumer Defensive | 2.3% | 22.1 | 23.6 | 2.47 | 4.32 | 2.77% | 19.6% |
SMIG 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 SMIG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SMIG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| TRGP | Targa Resources Corp. | 4.61% | 28.2 | 23.2 | 3.8 | 1.70% | 3.67% |
| VCTR | Victory Capital Holdings, Inc. | 4.49% | 19.9 | 12.7 | 4.3 | 1.84% | 5.07% |
| SIMO | Silicon Motion Technology Corporation | 4.41% | 27.3 | 19.6 | 5.5 | 1.09% | 3.63% |
| SNA | Snap-on Incorporated | 4.25% | 18.7 | 17.3 | 3.6 | 2.66% | 5.09% |
| RGA | Reinsurance Group of America, Incorporated | 4.04% | 11.7 | 7.7 | 0.7 | 1.47% | 7.71% |
| USPH | U.S. Physical Therapy, Inc. | 4.04% | 476.2 | 27.2 | 1.6 | 2.15% | 0.19% |
| PKG | Packaging Corporation of America | 3.80% | 30.7 | 18.7 | 2.2 | 2.54% | 2.78% |
| DTM | DT Midstream, Inc. | 3.62% | 27.1 | 22.1 | 9.6 | 2.85% | 3.00% |
| HUBB | Hubbell Incorporated | 3.50% | 27.3 | 20.7 | 3.9 | 1.23% | 2.87% |
| GIL | Gildan Activewear Inc. | 3.21% | — | — | — | — | — |
| NI | NiSource Inc. | 3.10% | 22.7 | 17.4 | 3.0 | 2.81% | 3.06% |
| FFBC | First Financial Bancorp. | 3.09% | 11.1 | 8.9 | 3.5 | 3.21% | 6.24% |
| AHR | American Healthcare REIT, Inc. | 3.07% | 79.4 | 48.1 | 4.6 | 1.88% | 0.87% |
| LNT | Alliant Energy Corporation | 2.93% | 21.6 | 17.5 | 4.0 | 3.13% | 3.04% |
| MSM | MSC Industrial Direct Co., Inc. | 2.86% | 31.5 | 23.5 | 1.9 | 2.73% | 2.04% |
| HIG | The Hartford Financial Services Group, Inc. | 2.84% | 9.6 | 9.2 | 1.2 | 1.78% | 6.66% |
| R | Ryder System, Inc. | 2.64% | 19.4 | 23.1 | 0.7 | 1.69% | 3.06% |
| ADC | Agree Realty Corporation | 2.59% | 36.0 | 35.1 | 10.7 | 4.85% | 1.61% |
| AFG | American Financial Group, Inc. | 2.49% | 13.0 | 11.5 | 1.5 | 2.60% | 4.29% |
| TXRH | Texas Roadhouse, Inc. | 2.49% | 26.9 | 21.0 | 1.8 | 1.78% | 2.08% |
| ELS | Equity LifeStyle Properties, Inc. | 2.48% | 29.6 | 28.6 | 7.8 | 3.55% | 1.88% |
| IPAR | Inter Parfums, Inc. | 2.35% | 22.1 | 23.6 | 2.5 | 2.77% | 2.38% |
| EVR | Evercore Inc. | 2.31% | 14.3 | 12.2 | 2.1 | 1.40% | 3.63% |
| CBOE | Cboe Global Markets, Inc. | 2.27% | 24.6 | 21.9 | 6.5 | 1.09% | 2.08% |
| PAGP | Plains GP Holdings, L.P. | 2.22% | 62.4 | 12.1 | 0.1 | 6.08% | 0.80% |
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 SMIG valuation
Adding up its 38 holdings with company data, SMIG trades at 21.7 times trailing earnings and 16.6 times analysts' forward estimates, with a price-to-book ratio of 2.86 and a dividend yield of 2.39%. Its earnings yield of 4.61% is 0.72 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 40.0% of the fund and earn 37.1% of its combined profit. By sector, Healthcare is the most expensive at 476.2 times earnings and Financial Services the cheapest at 13.5. Companies that lost money over the past year are 0.0% 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 96.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SMIG chart, SMIG performance, SMIG holdings, SMIG dividends.
SMIG valuation FAQ
What is the P/E ratio of SMIG?
Based on its holdings, SMIG has a trailing P/E of 21.7 and a forward P/E of 16.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SMIG?
The trailing earnings yield is 4.61% (1 ÷ P/E) and the forward earnings yield 6.02%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SMIG more expensive than the S&P 500?
SMIG trades at 21.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.6 and 19.9.
What is the price-to-book ratio of SMIG?
The holdings of SMIG trade at 2.86 times book value, with a combined return on equity of 13.2%.
Which sector in SMIG has the highest P/E?
Healthcare has the highest P/E at 476.2 and Financial Services the lowest at 13.5.