Invesco S&P 500 Momentum ETF (SPMO) Valuation
SPMO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.3 trailing earnings
- Forward P/E
- 17.4 analyst estimates
- Price / sales
- 3.36
- Price / book
- 5.98
- EV / EBITDA
- 19.1
- Earnings yield
- 3.66% inverse of P/E
- Dividend yield
- 0.95% of the holdings
- Return on equity
- 21.9% combined
- Net margin
- 12.3% combined
- Beta
- 1.26 weighted, vs S&P 500
SPMO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SPMO | 27.3 | 17.4 | 3.36 | 5.98 | 0.95% | 21.9% | 12.3% | 5.8% |
| 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.
SPMO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 50.5% | 34.8 | 18.8 | 8.94 | 13.62 | 0.29% | 39.2% |
| Healthcare | 11.8% | 40.4 | 15.8 | 1.25 | 4.48 | 2.23% | 11.1% |
| Communication Services | 9.0% | 17.4 | 21.8 | 9.03 | 6.64 | 0.26% | 38.1% |
| Industrials | 7.6% | 29.6 | 21.7 | 2.55 | 6.36 | 1.13% | 21.5% |
| Financial Services | 7.0% | 13.0 | 12.0 | 2.79 | 1.85 | 2.25% | 14.2% |
| Energy | 7.0% | 20.3 | 11.1 | 1.36 | 3.20 | 1.83% | 15.8% |
| Consumer Defensive | 2.7% | 26.5 | 23.2 | 2.23 | 6.46 | 2.04% | 24.4% |
| Real Estate | 2.4% | 33.1 | 42.9 | 9.66 | 3.44 | 2.73% | 10.4% |
| Consumer Cyclical | 1.5% | 33.6 | 13.9 | 1.19 | 3.80 | 0.74% | 11.3% |
| Basic Materials | 0.7% | 22.0 | 11.4 | 1.71 | 2.45 | 1.00% | 11.1% |
| Utilities | 0.2% | 8.4 | 10.9 | 1.54 | 1.41 | 5.02% | 16.7% |
SPMO 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 SPMO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SPMO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 10.21% | 39.4 | 35.2 | 10.7 | 0.31% | 7.05% |
| MU | Micron Technology, Inc. | 8.55% | 11.8 | 7.0 | 7.5 | 0.07% | 19.67% |
| AMD | Advanced Micro Devices, Inc. | 5.37% | 134.9 | 39.5 | 20.9 | — | 1.08% |
| GOOGL | Alphabet Inc. | 4.97% | 17.1 | 22.8 | 9.3 | 0.26% | 7.91% |
| JNJ | Johnson & Johnson | 4.87% | 38.8 | 21.0 | 6.2 | 2.10% | 3.42% |
| INTC | Intel Corporation | 4.50% | — | 63.3 | 8.3 | — | −2.89% |
| GOOG | Alphabet Inc. | 4.01% | 16.9 | 21.8 | 9.2 | 0.26% | 6.45% |
| XOM | Exxon Mobil Corporation | 3.78% | 23.0 | 14.8 | 2.0 | 2.30% | 4.46% |
| CSCO | Cisco Systems, Inc. | 2.38% | 32.2 | 19.8 | 6.7 | 1.56% | 2.01% |
| MRK | Merck & Co., Inc. | 2.35% | 115.8 | 15.3 | 5.4 | 2.33% | 0.55% |
| LRCX | Lam Research Corporation | 2.32% | 45.8 | 33.7 | 14.2 | 0.50% | 1.38% |
| AMAT | Applied Materials, Inc. | 2.30% | 35.3 | 23.4 | 10.5 | 0.52% | 1.77% |
| SNDK | Sandisk Corporation | 2.20% | 17.6 | 8.0 | 9.3 | — | 3.39% |
| UNH | UnitedHealth Group Incorporated | 1.96% | 25.8 | 16.6 | 0.8 | 2.31% | 2.07% |
| CAT | Caterpillar Inc. | 1.80% | 31.5 | 25.4 | 4.5 | 0.89% | 1.56% |
| KO | The Coca-Cola Company | 1.76% | 28.2 | 25.3 | 8.1 | 2.26% | 1.70% |
| STX | Seagate Technology Holdings plc | 1.76% | 46.0 | 25.7 | 11.9 | 0.46% | 1.04% |
| PANW | Palo Alto Networks, Inc. | 1.75% | 855.0 | 94.3 | 24.4 | — | 0.06% |
| WDC | Western Digital Corporation | 1.44% | 12.3 | 22.8 | 9.6 | 0.18% | 3.17% |
| RTX | RTX Corporation | 1.18% | 34.1 | 24.6 | 2.8 | 1.51% | 0.94% |
| GS | The Goldman Sachs Group, Inc. | 1.12% | 12.7 | 12.8 | 3.6 | 2.27% | 2.41% |
| VLO | Valero Energy Corporation | 1.08% | 18.5 | 10.2 | 1.0 | 1.08% | 1.58% |
| MS | Morgan Stanley | 1.06% | 14.3 | 14.9 | 3.6 | 2.55% | 2.01% |
| MRVL | Marvell Technology, Inc. | 1.01% | 72.3 | 62.1 | 21.7 | 0.11% | 0.38% |
| KLAC | KLA Corporation | 1.00% | 45.3 | 34.8 | 15.9 | 0.56% | 0.60% |
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 SPMO valuation
Adding up its 99 holdings with company data, SPMO trades at 27.3 times trailing earnings and 17.4 times analysts' forward estimates, with a price-to-book ratio of 5.98 and a dividend yield of 0.95%. Its earnings yield of 3.66% is 1.66 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 51.0% of the fund and earn 49.7% of its combined profit. By sector, Healthcare is the most expensive at 40.4 times earnings and Utilities the cheapest at 8.4. Companies that lost money over the past year are 5.8% 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 99.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SPMO chart, SPMO performance, SPMO holdings, SPMO dividends.
SPMO valuation FAQ
What is the P/E ratio of SPMO?
Based on its holdings, SPMO has a trailing P/E of 27.3 and a forward P/E of 17.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SPMO?
The trailing earnings yield is 3.66% (1 ÷ P/E) and the forward earnings yield 5.75%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SPMO more expensive than the S&P 500?
SPMO trades at 27.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.4 and 19.9.
What is the price-to-book ratio of SPMO?
The holdings of SPMO trade at 5.98 times book value, with a combined return on equity of 21.9%.
Which sector in SPMO has the highest P/E?
Healthcare has the highest P/E at 40.4 and Utilities the lowest at 8.4.