SPDR Portfolio S&P 500 Growth ETF (SPYG) Valuation
SPYG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.0 trailing earnings
- Forward P/E
- 22.5 analyst estimates
- Price / sales
- 7.67
- Price / book
- 8.59
- EV / EBITDA
- 20.0
- Earnings yield
- 3.71% inverse of P/E
- Dividend yield
- 0.56% of the holdings
- Return on equity
- 31.8% combined
- Net margin
- 28.4% combined
- Beta
- 1.37 weighted, vs S&P 500
SPYG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SPYG | 27.0 | 22.5 | 7.67 | 8.59 | 0.56% | 31.8% | 28.4% | 0.6% |
| 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.
SPYG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 53.3% | 31.6 | 22.9 | 11.98 | 14.87 | 0.49% | 47.0% |
| Communication Services | 15.6% | 19.4 | 21.8 | 8.40 | 7.01 | 0.26% | 36.1% |
| Financial Services | 9.1% | 17.0 | 18.5 | 4.26 | 2.68 | 0.90% | 15.8% |
| Consumer Cyclical | 8.5% | 26.9 | 25.5 | 4.13 | 7.70 | 0.34% | 28.7% |
| Healthcare | 6.9% | 40.9 | 21.3 | 7.52 | 13.74 | 1.08% | 33.6% |
| Industrials | 4.8% | 34.8 | 27.2 | 3.75 | 9.32 | 0.71% | 26.8% |
| Consumer Defensive | 1.1% | 30.5 | 24.1 | 8.05 | 17.54 | 2.24% | 57.5% |
| Real Estate | 0.6% | 60.1 | 67.7 | 11.86 | 3.87 | 1.91% | 6.4% |
| Basic Materials | 0.3% | 15.0 | 11.6 | 4.85 | 3.80 | 0.88% | 25.4% |
| Utilities | 0.3% | 26.3 | 15.1 | 2.04 | 4.84 | 0.77% | 18.4% |
SPYG 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 SPYG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SPYG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 14.65% | 27.1 | 24.9 | 17.1 | 0.47% | 14.53% |
| MSFT | Microsoft Corporation | 11.10% | 29.5 | 25.1 | 11.8 | 0.74% | 10.11% |
| AAPL | Apple Inc. | 6.51% | 39.4 | 35.2 | 10.7 | 0.31% | 4.43% |
| GOOGL | Alphabet Inc. | 5.75% | 17.1 | 22.8 | 9.3 | 0.26% | 9.03% |
| GOOG | Alphabet Inc. | 4.60% | 16.9 | 21.8 | 9.2 | 0.26% | 7.31% |
| AVGO | Broadcom Inc. | 4.56% | 43.3 | 19.4 | 17.6 | 0.79% | 2.83% |
| META | Meta Platforms, Inc. | 4.02% | 26.7 | 22.1 | 7.9 | 0.30% | 4.03% |
| AMZN | Amazon.com, Inc. | 3.86% | 20.1 | 23.6 | 3.5 | — | 5.15% |
| LLY | Eli Lilly and Company | 2.97% | 42.2 | 24.4 | 14.1 | 0.55% | 1.89% |
| BRK.B | Berkshire Hathaway Inc. | 2.85% | 13.4 | 22.7 | 3.0 | — | 5.72% |
| MU | Micron Technology, Inc. | 2.82% | 11.8 | 7.0 | 7.5 | 0.07% | 6.39% |
| AMD | Advanced Micro Devices, Inc. | 2.49% | 134.9 | 39.5 | 20.9 | — | 0.50% |
| TSLA | Tesla, Inc. | 1.73% | 328.4 | 158.7 | 13.5 | — | 0.14% |
| JPM | JPMorgan Chase & Co. | 1.71% | 14.2 | 13.5 | 4.7 | 1.94% | 3.22% |
| PLTR | Palantir Technologies Inc. | 1.20% | 160.4 | 85.5 | 72.6 | — | 0.20% |
| V | Visa Inc. | 1.05% | 34.3 | 24.0 | 17.0 | 0.67% | 0.82% |
| JNJ | Johnson & Johnson | 1.04% | 38.8 | 21.0 | 6.2 | 2.10% | 0.72% |
| LRCX | Lam Research Corporation | 0.94% | 45.8 | 33.7 | 14.2 | 0.50% | 0.55% |
| MA | Mastercard Incorporated | 0.91% | 34.0 | 24.2 | 15.4 | 0.56% | 0.72% |
| CAT | Caterpillar Inc. | 0.90% | 31.5 | 25.4 | 4.5 | 0.89% | 0.77% |
| AMAT | Applied Materials, Inc. | 0.89% | 35.3 | 23.4 | 10.5 | 0.52% | 0.68% |
| NFLX | Netflix, Inc. | 0.78% | 22.2 | 18.7 | 6.1 | — | 0.95% |
| RTX | RTX Corporation | 0.70% | 34.1 | 24.6 | 2.8 | 1.51% | 0.55% |
| ABBV | AbbVie Inc. | 0.66% | 80.6 | 16.4 | 7.8 | 2.42% | 0.22% |
| CRWD | CrowdStrike Holdings, Inc. | 0.64% | — | 208.3 | 43.1 | — | 0.00% |
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 SPYG valuation
Adding up its 151 holdings with company data, SPYG trades at 27.0 times trailing earnings and 22.5 times analysts' forward estimates, with a price-to-book ratio of 8.59 and a dividend yield of 0.56%. Its earnings yield of 3.71% is 1.62 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 60.9% of the fund and earn 65.0% of its combined profit. By sector, Real Estate is the most expensive at 60.1 times earnings and Basic Materials the cheapest at 15.0. Companies that lost money over the past year are 0.6% 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 99.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SPYG chart, SPYG performance, SPYG holdings, SPYG dividends.
SPYG valuation FAQ
What is the P/E ratio of SPYG?
Based on its holdings, SPYG has a trailing P/E of 27.0 and a forward P/E of 22.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SPYG?
The trailing earnings yield is 3.71% (1 ÷ P/E) and the forward earnings yield 4.45%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SPYG more expensive than the S&P 500?
SPYG trades at 27.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.5 and 19.9.
What is the price-to-book ratio of SPYG?
The holdings of SPYG trade at 8.59 times book value, with a combined return on equity of 31.8%.
Which sector in SPYG has the highest P/E?
Real Estate has the highest P/E at 60.1 and Basic Materials the lowest at 15.0.