iShares Russell 2500 ETF (SMMD) Valuation

Cboe BZX: SMMDP/E, earnings yield and other ratios of the holdings combined.

SMMD valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 54.8
Forward P/E: 14.2
Price / sales: 1.41
Price / book: 2.37
EV / EBITDA: 10.2
Earnings yield: 1.82%
Dividend yield: 1.43%
Return on equity: 4.3%
Net margin: 2.6%
Beta: 1.12

SMMD valuation vs other stock ETFs

P/E (TTM)Forward P/E

SMMD valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
SMMD	54.8	14.2	1.41	2.37	1.43%	4.3%	2.6%	19.7%
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.

SMMD valuation by sector

P/E (TTM)Forward P/E

SMMD valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Industrials	16.9%	55.0	17.3	1.28	3.09	0.91%	5.6%
Technology	15.6%	80.2	17.0	1.89	4.13	0.25%	5.2%
Financial Services	15.6%	24.6	10.5	1.63	1.55	2.04%	6.3%
Healthcare	15.4%	n/m	15.4	2.35	3.80	0.15%	−7.7%
Consumer Cyclical	10.5%	30.6	13.1	0.79	2.62	1.21%	8.6%
Real Estate	7.4%	33.0	19.4	2.94	1.58	5.66%	4.8%
Energy	4.9%	19.7	11.2	1.27	1.56	2.31%	7.9%
Basic Materials	4.2%	86.9	12.7	1.21	2.24	1.17%	2.6%
Consumer Defensive	3.7%	56.6	13.0	0.56	2.27	1.75%	4.0%
Utilities	2.7%	32.5	14.3	2.17	1.92	3.04%	5.9%
Communication Services	2.7%	n/m	15.2	1.38	1.59	0.88%	−3.4%

SMMD earnings yield vs bond yields

SMMD earnings yield (forward)

7.02%

SMMD earnings yield (trailing)

1.82%

SMMD dividend yield

1.43%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 SMMD weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

SMMD largest holdings: valuation

SMMD largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
FFIV	F5, Inc.	0.36%	35.2	24.6	7.6	—	0.56%
ATI	ATI Inc.	0.34%	54.4	28.8	5.4	—	0.35%
USFD	US Foods Holding Corp.	0.32%	31.4	17.0	0.5	—	0.57%
THC	Tenet Healthcare Corporation	0.31%	10.5	12.5	1.0	—	1.66%
VTRS	Viatris Inc.	0.31%	—	6.4	1.5	2.57%	−0.34%
NVT	nVent Electric plc	0.30%	39.3	25.1	4.8	0.59%	0.43%
RS	Reliance Steel & Aluminum Co.	0.30%	23.9	16.4	1.3	1.22%	0.70%
PKG	Packaging Corporation of America	0.30%	30.7	18.7	2.2	2.54%	0.54%
AFRM	Affirm Holdings, Inc.	0.30%	13.4	35.6	5.9	—	1.23%
GH	Guardant Health, Inc.	0.29%	—	—	18.0	—	−0.35%
NI	NiSource Inc.	0.28%	22.7	17.4	3.0	2.81%	0.70%
WWD	Woodward, Inc.	0.28%	36.5	31.6	4.6	0.39%	0.43%
ROKU	Roku, Inc	0.28%	65.8	39.1	4.4	—	0.24%
PR	Permian Resources Corporation	0.28%	16.2	10.0	3.6	2.56%	0.96%
RGLD	Royal Gold, Inc.	0.28%	26.4	24.2	13.1	0.80%	0.58%
SWKS	Skyworks Solutions, Inc.	0.27%	41.3	17.8	4.7	—	0.37%
ZBRA	Zebra Technologies Corporation	0.27%	33.8	16.9	3.0	—	0.44%
OVV	Ovintiv Inc.	0.27%	19.3	9.0	2.0	1.73%	0.77%
DINO	HF Sinclair Corporation	0.26%	11.9	10.0	0.7	1.68%	1.23%
DT	Dynatrace, Inc.	0.26%	122.2	29.6	8.5	—	0.12%
SOFI	SoFi Technologies, Inc.	0.26%	29.7	20.7	4.4	—	0.49%
SNA	Snap-on Incorporated	0.26%	18.7	17.3	3.6	2.66%	0.78%
CRS	Carpenter Technology Corporation	0.26%	35.8	23.4	6.0	0.21%	0.40%
SNX	TD SYNNEX Corporation	0.25%	15.0	12.7	0.3	0.78%	0.94%
NDSN	Nordson Corporation	0.25%	32.6	24.8	6.0	1.17%	0.43%

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 SMMD valuation

Adding up its 2,389 holdings with company data, SMMD trades at 54.8 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 2.37 and a dividend yield of 1.43%. Its earnings yield of 1.82% is 3.50 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 3.1% of the fund and earn 5.4% of its combined profit. By sector, Basic Materials is the most expensive at 86.9 times earnings and Energy the cheapest at 19.7. Companies that lost money over the past year are 19.7% 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 98.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

SMMD valuation FAQ

What is the P/E ratio of SMMD?

Based on its holdings, SMMD has a trailing P/E of 54.8 and a forward P/E of 14.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of SMMD?

The trailing earnings yield is 1.82% (1 ÷ P/E) and the forward earnings yield 7.02%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is SMMD more expensive than the S&P 500?

SMMD trades at 54.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.2 and 19.9.

What is the price-to-book ratio of SMMD?

The holdings of SMMD trade at 2.37 times book value, with a combined return on equity of 4.3%.

Which sector in SMMD has the highest P/E?

Basic Materials has the highest P/E at 86.9 and Energy the lowest at 19.7.