Invesco S&P 500 GARP ETF (SPGP) Valuation
SPGP valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 14.8 trailing earnings
- Forward P/E
- 13.1 analyst estimates
- Price / sales
- 1.99
- Price / book
- 3.24
- EV / EBITDA
- 12.1
- Earnings yield
- 6.77% inverse of P/E
- Dividend yield
- 0.95% of the holdings
- Return on equity
- 22.0% combined
- Net margin
- 13.5% combined
- Beta
- 0.99 weighted, vs S&P 500
SPGP valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SPGP | 14.8 | 13.1 | 1.99 | 3.24 | 0.95% | 22.0% | 13.5% | 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.
SPGP valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 31.3% | 11.2 | 11.9 | 1.69 | 2.15 | 1.21% | 19.2% |
| Technology | 21.0% | 20.1 | 14.8 | 4.07 | 5.35 | 0.39% | 26.6% |
| Consumer Cyclical | 13.6% | 16.4 | 12.7 | 2.27 | 6.31 | 1.15% | 38.4% |
| Healthcare | 10.6% | 16.4 | 13.4 | 1.25 | 3.27 | 0.54% | 20.0% |
| Communication Services | 8.5% | 16.9 | 13.6 | 2.41 | 2.95 | 1.12% | 17.5% |
| Industrials | 8.4% | 20.4 | 16.3 | 1.48 | 5.57 | 0.47% | 27.3% |
| Basic Materials | 2.0% | 15.0 | 11.6 | 4.85 | 3.80 | 0.88% | 25.4% |
| Energy | 1.1% | 17.9 | 18.0 | 1.99 | 2.89 | 1.65% | 16.2% |
| Consumer Defensive | 1.0% | 11.8 | 10.0 | 2.41 | 2.43 | 3.14% | 20.7% |
| Utilities | 0.9% | 5.8 | 8.2 | 1.11 | 1.18 | 6.28% | 20.5% |
SPGP 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 SPGP weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SPGP largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 2.46% | 27.1 | 24.9 | 17.1 | 0.47% | 1.36% |
| CINF | Cincinnati Financial Corporation | 2.13% | 8.1 | 18.5 | 1.9 | 2.20% | 3.95% |
| EXPE | Expedia Group, Inc. | 2.11% | 18.0 | 11.3 | 2.2 | 0.66% | 1.75% |
| ACGL | Arch Capital Group Ltd. | 2.11% | 7.9 | 9.6 | 1.8 | — | 3.99% |
| ANET | Arista Networks, Inc. | 2.10% | 55.8 | 39.2 | 21.2 | — | 0.57% |
| PGR | The Progressive Corporation | 2.10% | 11.0 | 12.7 | 1.4 | 0.18% | 2.86% |
| NEM | Newmont Corporation | 2.00% | 15.0 | 11.6 | 4.8 | 0.88% | 2.01% |
| LLY | Eli Lilly and Company | 1.99% | 42.2 | 24.4 | 14.1 | 0.55% | 0.71% |
| META | Meta Platforms, Inc. | 1.85% | 26.7 | 22.1 | 7.9 | 0.30% | 1.04% |
| RCL | Royal Caribbean Cruises Ltd. | 1.83% | 17.1 | 11.4 | 4.0 | 2.16% | 1.60% |
| INCY | Incyte Corporation | 1.74% | 14.4 | 14.7 | 3.9 | — | 1.82% |
| GCP | General Electric Company | 1.71% | — | — | — | — | — |
| ALL | The Allstate Corporation | 1.66% | 5.0 | 8.3 | 0.9 | 1.74% | 5.03% |
| CCL | Carnival Corporation & plc | 1.66% | 11.4 | 8.4 | 1.3 | 1.74% | 2.18% |
| PYPL | PayPal Holdings, Inc. | 1.63% | 10.7 | 9.1 | 1.4 | 0.99% | 2.28% |
| FIX | Comfort Systems USA, Inc. | 1.61% | 35.4 | 26.0 | 4.5 | 0.25% | 0.68% |
| UHS | Universal Health Services, Inc. | 1.61% | 7.6 | 7.3 | 0.6 | 0.43% | 3.17% |
| PTC | PTC Inc. | 1.58% | 18.7 | 16.3 | 7.1 | — | 1.27% |
| FTNT | Fortinet, Inc. | 1.56% | 59.8 | 45.0 | 16.5 | — | 0.39% |
| MA | Mastercard Incorporated | 1.52% | 34.0 | 24.2 | 15.4 | 0.56% | 0.67% |
| FSLR | First Solar, Inc. | 1.50% | 10.6 | 8.3 | 3.4 | — | 2.12% |
| GDDY | GoDaddy Inc. | 1.50% | 15.8 | 8.7 | 2.6 | — | 1.43% |
| DXCM | DexCom, Inc. | 1.44% | 34.1 | 28.2 | 6.5 | — | 0.63% |
| LVS | Las Vegas Sands Corp. | 1.44% | 14.8 | 11.2 | 1.8 | 3.16% | 1.46% |
| ABNB | Airbnb, Inc. | 1.43% | 39.6 | 25.4 | 7.9 | — | 0.54% |
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 SPGP valuation
Adding up its 73 holdings with company data, SPGP trades at 14.8 times trailing earnings and 13.1 times analysts' forward estimates, with a price-to-book ratio of 3.24 and a dividend yield of 0.95%. Its earnings yield of 6.77% is 1.44 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 20.7% of the fund and earn 19.8% of its combined profit. By sector, Industrials is the most expensive at 20.4 times earnings and Utilities the cheapest at 5.8. 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 98.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SPGP chart, SPGP performance, SPGP holdings, SPGP dividends.
SPGP valuation FAQ
What is the P/E ratio of SPGP?
Based on its holdings, SPGP has a trailing P/E of 14.8 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 SPGP?
The trailing earnings yield is 6.77% (1 ÷ P/E) and the forward earnings yield 7.62%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SPGP more expensive than the S&P 500?
SPGP trades at 14.8 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 SPGP?
The holdings of SPGP trade at 3.24 times book value, with a combined return on equity of 22.0%.
Which sector in SPGP has the highest P/E?
Industrials has the highest P/E at 20.4 and Utilities the lowest at 5.8.