AAM S&P 500 High Dividend Value ETF (SPDV) Valuation
SPDV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.3 trailing earnings
- Forward P/E
- 11.0 analyst estimates
- Price / sales
- 1.21
- Price / book
- 1.90
- EV / EBITDA
- 9.3
- Earnings yield
- 4.92% inverse of P/E
- Dividend yield
- 3.72% of the holdings
- Return on equity
- 9.3% combined
- Net margin
- 5.9% combined
- Beta
- 0.81 weighted, vs S&P 500
SPDV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SPDV | 20.3 | 11.0 | 1.21 | 1.90 | 3.72% | 9.3% | 5.9% | 12.3% |
| 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.
SPDV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 20.5% | 15.4 | 12.1 | 1.63 | 2.09 | 2.68% | 13.6% |
| Consumer Cyclical | 14.6% | 27.0 | 11.2 | 0.77 | 2.90 | 3.60% | 10.7% |
| Healthcare | 9.5% | 24.6 | 8.6 | 0.63 | 1.87 | 3.59% | 7.6% |
| Communication Services | 8.6% | 12.0 | 8.2 | 1.06 | 1.61 | 4.85% | 13.5% |
| Real Estate | 8.0% | 60.9 | 17.8 | 3.44 | 1.15 | 5.80% | 1.9% |
| Energy | 7.9% | 10.3 | 9.6 | 2.33 | 1.56 | 2.37% | 15.2% |
| Utilities | 7.8% | 20.3 | 15.6 | 2.82 | 2.61 | 2.57% | 12.9% |
| Consumer Defensive | 7.2% | n/m | 11.6 | 1.48 | 1.90 | 5.82% | −3.8% |
| Financial Services | 6.7% | 18.1 | 9.7 | 1.26 | 1.50 | 3.65% | 8.3% |
| Industrials | 3.6% | 20.4 | 13.3 | 0.92 | 2.26 | 5.00% | 11.1% |
| Basic Materials | 3.5% | 22.8 | 10.3 | 0.99 | 2.33 | 3.25% | 10.2% |
SPDV 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 SPDV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SPDV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ACN | Accenture plc | 3.09% | 16.9 | 12.4 | 1.9 | 2.98% | 3.79% |
| CTSH | Cognizant Technology Solutions Corporation | 3.03% | 14.2 | 9.4 | 1.4 | 2.00% | 4.43% |
| APA | APA Corporation | 2.42% | 10.4 | 9.4 | 2.0 | 2.03% | 4.83% |
| HPQ | HP Inc. | 2.41% | 11.5 | 9.9 | 0.5 | 4.00% | 4.37% |
| HAS | Hasbro, Inc. | 2.33% | 17.8 | 13.5 | 2.8 | 2.84% | 2.73% |
| SWKS | Skyworks Solutions, Inc. | 2.33% | 41.3 | 17.8 | 4.7 | — | 1.17% |
| ADP | Automatic Data Processing, Inc. | 2.29% | 26.4 | 22.0 | 5.2 | 2.35% | 1.80% |
| BR | Broadridge Financial Solutions, Inc. | 2.25% | 18.2 | 15.5 | 2.6 | 2.49% | 2.56% |
| PFE | Pfizer Inc. | 2.21% | 38.9 | 9.7 | 2.6 | 5.81% | 1.18% |
| SWK | Stanley Black & Decker, Inc. | 2.00% | 22.6 | 14.5 | 0.9 | 3.63% | 1.84% |
| CI | Cigna Corporation | 2.00% | 12.5 | 8.3 | 0.3 | 2.06% | 3.33% |
| EOG | EOG Resources, Inc. | 1.99% | 12.3 | 10.1 | 3.1 | 2.58% | 3.37% |
| AVY | Avery Dennison Corporation | 1.97% | 19.2 | 15.3 | 1.4 | 2.28% | 2.14% |
| BBY | Best Buy Co., Inc. | 1.96% | 15.4 | 13.6 | 0.5 | 4.15% | 2.64% |
| SJM | The J. M. Smucker Company | 1.91% | 59.5 | 12.0 | 1.5 | 3.52% | 0.67% |
| CCL | Carnival Corporation & plc | 1.91% | 11.4 | 8.4 | 1.3 | 1.74% | 3.47% |
| VTRS | Viatris Inc. | 1.90% | — | 6.4 | 1.5 | 2.57% | −0.76% |
| LYB | LyondellBasell Industries N.V. | 1.90% | — | 9.1 | 0.7 | 4.31% | −0.51% |
| BMY | Bristol-Myers Squibb Company | 1.90% | 13.2 | 9.4 | 2.5 | 4.22% | 3.00% |
| OMC | Omnicom Group Inc. | 1.88% | 212.0 | 7.4 | 1.0 | 3.97% | 0.18% |
| MO | Altria Group, Inc. | 1.87% | 15.8 | 11.9 | 6.1 | 5.91% | 2.46% |
| AMCR | Amcor plc | 1.86% | 18.4 | 10.6 | 0.9 | 5.93% | 2.09% |
| DVN | Devon Energy Corporation | 1.84% | 11.1 | 9.3 | 3.0 | 2.52% | 3.46% |
| VZ | Verizon Communications Inc. | 1.81% | 11.7 | 8.7 | 1.3 | 6.32% | 3.23% |
| PAYX | Paychex, Inc. | 1.78% | 22.1 | 17.5 | 6.0 | 4.26% | 1.67% |
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 SPDV valuation
Adding up its 53 holdings with company data, SPDV trades at 20.3 times trailing earnings and 11.0 times analysts' forward estimates, with a price-to-book ratio of 1.90 and a dividend yield of 3.72%. Its earnings yield of 4.92% is 0.41 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 24.4% of the fund and earn 28.7% of its combined profit. By sector, Real Estate is the most expensive at 60.9 times earnings and Energy the cheapest at 10.3. Companies that lost money over the past year are 12.3% 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 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SPDV chart, SPDV performance, SPDV holdings, SPDV dividends.
SPDV valuation FAQ
What is the P/E ratio of SPDV?
Based on its holdings, SPDV has a trailing P/E of 20.3 and a forward P/E of 11.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SPDV?
The trailing earnings yield is 4.92% (1 ÷ P/E) and the forward earnings yield 9.05%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SPDV more expensive than the S&P 500?
SPDV trades at 20.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 11.0 and 19.9.
What is the price-to-book ratio of SPDV?
The holdings of SPDV trade at 1.90 times book value, with a combined return on equity of 9.3%.
Which sector in SPDV has the highest P/E?
Real Estate has the highest P/E at 60.9 and Energy the lowest at 10.3.