VanEck Morningstar SMID Moat ETF (SMOT) Valuation
SMOT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.1 trailing earnings
- Forward P/E
- 13.0 analyst estimates
- Price / sales
- 1.20
- Price / book
- 2.44
- EV / EBITDA
- 12.9
- Earnings yield
- 3.68% inverse of P/E
- Dividend yield
- 1.91% of the holdings
- Return on equity
- 9.0% combined
- Net margin
- 4.4% combined
- Beta
- 0.87 weighted, vs S&P 500
SMOT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SMOT | 27.1 | 13.0 | 1.20 | 2.44 | 1.91% | 9.0% | 4.4% | 9.5% |
| 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.
SMOT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 23.8% | 29.1 | 14.1 | 1.00 | 2.51 | 0.67% | 8.7% |
| Industrials | 18.7% | 22.0 | 12.7 | 1.60 | 2.70 | 1.41% | 12.3% |
| Consumer Defensive | 13.8% | 46.6 | 15.0 | 1.51 | 2.58 | 3.90% | 5.5% |
| Consumer Cyclical | 10.9% | 14.9 | 10.6 | 0.54 | 2.41 | 1.81% | 16.1% |
| Basic Materials | 9.0% | n/m | 11.2 | 1.00 | 1.59 | 2.74% | −2.3% |
| Technology | 7.8% | 29.7 | 17.0 | 3.26 | 3.65 | 0.56% | 12.3% |
| Financial Services | 7.1% | 19.1 | 12.7 | 2.93 | 2.55 | 1.76% | 13.4% |
| Utilities | 3.8% | 14.4 | 13.2 | 1.77 | 1.63 | 4.26% | 11.3% |
| Communication Services | 2.1% | 60.9 | 8.6 | 1.25 | 3.02 | 3.50% | 5.0% |
| Real Estate | 1.7% | 23.0 | 19.9 | 7.32 | 23.45 | 3.45% | 101.9% |
| Energy | 1.3% | 11.1 | 9.3 | 2.97 | 1.24 | 2.52% | 11.2% |
SMOT 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 SMOT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SMOT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| BDX | Becton, Dickinson and Company | 1.65% | 44.6 | 13.7 | 2.3 | 2.19% | 1.02% |
| EL | The Estée Lauder Companies Inc. | 1.56% | 209.1 | 29.8 | 2.5 | 1.34% | 0.21% |
| GPN | Global Payments Inc. | 1.53% | 39.3 | 5.3 | 2.2 | 1.20% | 1.07% |
| MAS | Masco Corporation | 1.52% | 16.8 | 14.7 | 1.9 | 1.76% | 2.48% |
| AMCR | Amcor plc | 1.52% | 18.4 | 10.6 | 0.9 | 5.93% | 2.26% |
| VLTO | Veralto Corporation | 1.51% | 25.8 | 20.0 | 4.3 | 0.51% | 1.61% |
| LW | Lamb Weston Holdings, Inc. | 1.50% | 29.3 | 14.7 | 1.1 | 2.84% | 1.41% |
| CI | Cigna Corporation | 1.46% | 12.5 | 8.3 | 0.3 | 2.06% | 3.22% |
| BF.B | Brown-Forman Corporation | 1.43% | 18.6 | 15.6 | 3.4 | 3.20% | 2.11% |
| ZBH | Zimmer Biomet Holdings, Inc. | 1.42% | 23.1 | 10.1 | 2.1 | 1.01% | 1.69% |
| NOC | Northrop Grumman Corporation | 1.41% | 16.5 | 17.0 | 1.7 | 1.90% | 2.34% |
| TRU | TransUnion | 1.41% | 19.5 | 12.8 | 2.9 | 0.67% | 1.98% |
| OMC | Omnicom Group Inc. | 1.41% | 212.0 | 7.4 | 1.0 | 3.97% | 0.18% |
| GEHC | GE HealthCare Technologies Inc. | 1.39% | 16.0 | 12.1 | 1.5 | 0.23% | 2.38% |
| ELV | Elevance Health Inc. | 1.39% | 19.0 | 13.7 | 0.5 | 1.61% | 2.01% |
| LYB | LyondellBasell Industries N.V. | 1.37% | — | 9.1 | 0.7 | 4.31% | −0.49% |
| XYZ | Block, Inc | 1.36% | 139.1 | 14.5 | 1.9 | — | 0.27% |
| DVN | Devon Energy Corporation | 1.35% | 11.1 | 9.3 | 3.0 | 2.52% | 3.35% |
| KHC | The Kraft Heinz Company | 1.33% | — | 11.1 | 1.1 | 6.76% | −4.44% |
| CE | Celanese Corporation | 1.33% | — | 7.2 | 0.5 | 0.25% | −8.16% |
| MDLZ | Mondelez International, Inc. | 1.33% | 23.5 | 18.2 | 2.1 | 3.25% | 1.55% |
| HSY | The Hershey Company | 1.30% | 23.3 | 17.8 | 2.8 | 3.40% | 1.53% |
| HII | Huntington Ingalls Industries, Inc. | 1.28% | 16.2 | 12.6 | 0.8 | 2.03% | 2.17% |
| AYI | Acuity Brands, Inc. | 1.28% | 17.8 | 14.1 | 2.0 | 0.26% | 1.97% |
| DD | DuPont de Nemours, Inc. | 1.28% | 35.1 | 16.5 | 2.5 | 1.84% | 1.00% |
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 SMOT valuation
Adding up its 108 holdings with company data, SMOT trades at 27.1 times trailing earnings and 13.0 times analysts' forward estimates, with a price-to-book ratio of 2.44 and a dividend yield of 1.91%. Its earnings yield of 3.68% is 1.64 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 15.1% of the fund and earn 17.1% of its combined profit. By sector, Communication Services is the most expensive at 60.9 times earnings and Energy the cheapest at 11.1. Companies that lost money over the past year are 9.5% 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.
Related: SMOT chart, SMOT performance, SMOT holdings, SMOT dividends.
SMOT valuation FAQ
What is the P/E ratio of SMOT?
Based on its holdings, SMOT has a trailing P/E of 27.1 and a forward P/E of 13.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SMOT?
The trailing earnings yield is 3.68% (1 ÷ P/E) and the forward earnings yield 7.70%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SMOT more expensive than the S&P 500?
SMOT trades at 27.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.0 and 19.9.
What is the price-to-book ratio of SMOT?
The holdings of SMOT trade at 2.44 times book value, with a combined return on equity of 9.0%.
Which sector in SMOT has the highest P/E?
Communication Services has the highest P/E at 60.9 and Energy the lowest at 11.1.