SPDR SSGA US Small Cap Low Volatility ETF (SMLV) Valuation
SMLV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.1 trailing earnings
- Forward P/E
- 13.1 analyst estimates
- Price / sales
- 1.52
- Price / book
- 1.70
- EV / EBITDA
- 11.1
- Earnings yield
- 4.15% inverse of P/E
- Dividend yield
- 2.49% of the holdings
- Return on equity
- 7.0% combined
- Net margin
- 6.3% combined
- Beta
- 0.72 weighted, vs S&P 500
SMLV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SMLV | 24.1 | 13.1 | 1.52 | 1.70 | 2.49% | 7.0% | 6.3% | 7.4% |
| 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.
SMLV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 31.7% | 12.5 | 11.1 | 2.83 | 1.37 | 2.79% | 10.9% |
| Industrials | 14.0% | 23.6 | 15.3 | 1.14 | 2.22 | 1.69% | 9.4% |
| Technology | 11.7% | n/m | 12.6 | 1.17 | 2.82 | 0.49% | −1.4% |
| Real Estate | 10.0% | 21.0 | 20.0 | 4.05 | 1.37 | 7.06% | 6.5% |
| Healthcare | 9.1% | n/m | 13.0 | 1.64 | 2.08 | 0.43% | −7.7% |
| Consumer Cyclical | 8.1% | 30.6 | 11.8 | 0.81 | 2.02 | 2.48% | 6.6% |
| Basic Materials | 3.3% | 39.4 | 16.8 | 1.24 | 1.96 | 1.61% | 5.0% |
| Consumer Defensive | 3.3% | 20.4 | 15.3 | 0.52 | 1.32 | 2.57% | 6.5% |
| Utilities | 2.7% | 19.0 | 16.4 | 2.44 | 1.59 | 3.77% | 8.4% |
| Communication Services | 1.8% | n/m | 24.6 | 1.30 | 1.39 | 0.33% | −4.5% |
| Energy | 1.2% | 8.3 | 6.3 | 1.53 | 1.79 | 2.74% | 21.5% |
| Financials | 0.4% | 16.2 | — | 4.22 | 1.27 | 1.94% | 7.8% |
| Services | 0.3% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
SMLV 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 SMLV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SMLV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| SAFT | Safety Insurance Group, Inc. | 0.67% | 22.3 | 17.1 | 1.2 | 3.54% | 0.76% |
| CHCO | City Holding Company | 0.66% | 15.5 | 16.4 | 6.2 | 2.82% | 1.07% |
| NWE | NorthWestern Corporation | 0.61% | 27.0 | 17.4 | 2.7 | 3.59% | 0.58% |
| HMN | Horace Mann Educators Corporation | 0.59% | 10.8 | 9.3 | 1.1 | 3.11% | 1.39% |
| PECO | Phillips Edison & Company, Inc. | 0.59% | 33.5 | 65.8 | 7.2 | 3.61% | 0.45% |
| AWR | American States Water Company | 0.57% | 22.9 | 22.1 | 4.7 | 2.61% | 0.64% |
| CHE | Chemed Corporation | 0.56% | 25.8 | 18.2 | 2.6 | 0.55% | 0.55% |
| E450 | ATL. BRV. HLDG. C DL-,001 | 0.55% | — | — | — | — | — |
| APLE | Apple Hospitality REIT, Inc. | 0.53% | 23.0 | 23.5 | 2.8 | 5.63% | 0.59% |
| SIGI | Selective Insurance Group, Inc. | 0.53% | 10.9 | 9.8 | 1.0 | 1.93% | 1.23% |
| CTBI | Community Trust Bancorp, Inc. | 0.49% | 12.6 | 11.2 | 4.8 | 3.46% | 1.00% |
| MGRC | McGrath RentCorp | 0.49% | 18.2 | 16.2 | 3.0 | 1.75% | 0.69% |
| LTC | LTC Properties, Inc. | 0.47% | 15.6 | 12.5 | 6.9 | 5.22% | 0.77% |
| WTM | White Mountains Insurance Group, Ltd. | 0.47% | 4.9 | 13.9 | 1.7 | 0.05% | 2.40% |
| LSTR | Landstar System, Inc. | 0.46% | 44.5 | 22.5 | 1.2 | 1.03% | 0.26% |
| MSM | MSC Industrial Direct Co., Inc. | 0.46% | 31.5 | 23.5 | 1.9 | 2.73% | 0.37% |
| NWBI | Northwest Bancshares, Inc. | 0.46% | 14.4 | 13.4 | 3.3 | 5.36% | 0.81% |
| ASH | Ashland Inc. | 0.46% | 45.6 | 15.7 | 1.8 | 2.36% | 0.25% |
| GABC | German American Bancorp, Inc. | 0.46% | 13.1 | 12.8 | 4.9 | 2.44% | 0.88% |
| NJR | New Jersey Resources Corporation | 0.45% | 14.5 | 14.9 | 2.4 | 3.83% | 0.80% |
| TFSL | TFS Financial Corporation | 0.44% | 45.4 | 76.9 | 13.2 | 7.78% | 0.25% |
| NNI | Nelnet, Inc. | 0.44% | 15.2 | 13.1 | 3.1 | 1.04% | 0.74% |
| BRC | Brady Corporation | 0.44% | 19.1 | 15.4 | 2.3 | 1.22% | 0.59% |
| SR | Spire Inc. | 0.44% | 23.8 | 14.9 | 1.8 | 4.02% | 0.47% |
| CCBG | Capital City Bank Group, Inc. | 0.44% | 13.6 | 10.0 | 3.3 | 2.20% | 0.82% |
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 SMLV valuation
Adding up its 374 holdings with company data, SMLV trades at 24.1 times trailing earnings and 13.1 times analysts' forward estimates, with a price-to-book ratio of 1.70 and a dividend yield of 2.49%. Its earnings yield of 4.15% is 1.18 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 5.9% of the fund and earn 8.2% of its combined profit. By sector, Basic Materials is the most expensive at 39.4 times earnings and Energy the cheapest at 8.3. Companies that lost money over the past year are 7.4% 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 96.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SMLV chart, SMLV performance, SMLV holdings, SMLV dividends.
SMLV valuation FAQ
What is the P/E ratio of SMLV?
Based on its holdings, SMLV has a trailing P/E of 24.1 and a forward P/E of 13.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SMLV?
The trailing earnings yield is 4.15% (1 ÷ P/E) and the forward earnings yield 7.65%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SMLV more expensive than the S&P 500?
SMLV trades at 24.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.1 and 19.9.
What is the price-to-book ratio of SMLV?
The holdings of SMLV trade at 1.70 times book value, with a combined return on equity of 7.0%.
Which sector in SMLV has the highest P/E?
Basic Materials has the highest P/E at 39.4 and Energy the lowest at 8.3.