Ishares MSCI USA Small-Cap Quality Factor ETF (SQLT) Valuation
SQLT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.6 trailing earnings
- Forward P/E
- 15.4 analyst estimates
- Price / sales
- 1.83
- Price / book
- 2.72
- EV / EBITDA
- 12.3
- Earnings yield
- 4.86% inverse of P/E
- Dividend yield
- 1.26% of the holdings
- Return on equity
- 13.2% combined
- Net margin
- 8.9% combined
- Beta
- 0.96 weighted, vs S&P 500
SQLT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SQLT | 20.6 | 15.4 | 1.83 | 2.72 | 1.26% | 13.2% | 8.9% | 4.0% |
| 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.
SQLT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 18.5% | 29.8 | 16.8 | 1.66 | 4.14 | 0.34% | 13.9% |
| Industrials | 16.4% | 23.4 | 19.2 | 2.18 | 4.08 | 0.96% | 17.4% |
| Healthcare | 15.8% | 34.9 | 17.8 | 1.90 | 3.34 | 0.15% | 9.6% |
| Financial Services | 14.1% | 12.7 | 11.9 | 2.98 | 1.99 | 2.08% | 15.7% |
| Consumer Cyclical | 8.7% | 14.7 | 12.4 | 0.95 | 2.32 | 1.16% | 15.7% |
| Real Estate | 6.6% | 23.5 | 23.4 | 3.19 | 1.86 | 4.32% | 7.9% |
| Energy | 6.2% | 14.8 | 11.1 | 2.47 | 1.82 | 2.55% | 12.3% |
| Basic Materials | 4.6% | 23.1 | 16.0 | 1.84 | 2.74 | 1.25% | 11.8% |
| Consumer Defensive | 3.8% | 17.8 | 14.7 | 1.00 | 3.02 | 1.00% | 17.0% |
| Communication Services | 2.6% | 18.1 | 13.1 | 1.58 | 1.53 | 1.50% | 8.4% |
| Utilities | 1.0% | 21.6 | 22.9 | 3.58 | 2.41 | 2.52% | 11.2% |
SQLT 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 SQLT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SQLT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NFG | National Fuel Gas Company | 1.25% | 11.1 | 9.8 | 3.0 | 2.78% | 2.35% |
| MANH | Manhattan Associates, Inc. | 1.02% | 63.8 | 40.3 | 11.5 | — | 0.34% |
| SNX | TD SYNNEX Corporation | 0.91% | 15.0 | 12.7 | 0.3 | 0.78% | 1.27% |
| MEDP | Medpace Holdings, Inc. | 0.88% | 36.3 | 31.9 | 6.2 | — | 0.51% |
| EXEL | Exelixis, Inc. | 0.85% | 19.6 | 13.6 | 6.3 | — | 0.91% |
| RGLD | Royal Gold, Inc. | 0.85% | 26.4 | 24.2 | 13.1 | 0.80% | 0.67% |
| EWBC | East West Bancorp, Inc. | 0.84% | 12.2 | 12.7 | 6.0 | 2.52% | 1.45% |
| DT | Dynatrace, Inc. | 0.83% | 122.2 | 29.6 | 8.5 | — | 0.14% |
| ZBRA | Zebra Technologies Corporation | 0.83% | 33.8 | 16.9 | 3.0 | — | 0.52% |
| THC | Tenet Healthcare Corporation | 0.80% | 10.5 | 12.5 | 1.0 | — | 1.59% |
| BJ | BJ's Wholesale Club Holdings, Inc. | 0.75% | 21.7 | 19.2 | 0.6 | — | 0.72% |
| NYT | The New York Times Company | 0.72% | 28.2 | 21.1 | 3.7 | 1.36% | 0.54% |
| WWD | Woodward, Inc. | 0.68% | 36.5 | 31.6 | 4.6 | 0.39% | 0.39% |
| JKHY | Jack Henry & Associates, Inc. | 0.67% | 21.9 | 20.2 | 4.2 | 1.59% | 0.64% |
| CRL | Charles River Laboratories International, Inc. | 0.66% | — | 22.4 | 3.6 | — | −0.22% |
| GL | Globe Life Inc. | 0.66% | 11.2 | 10.2 | 2.1 | 0.78% | 1.23% |
| RVTY | Revvity, Inc. | 0.65% | 73.0 | 24.2 | 5.8 | 0.18% | 0.19% |
| PR | Permian Resources Corporation | 0.64% | 16.2 | 10.0 | 3.6 | 2.56% | 0.82% |
| LECO | Lincoln Electric Holdings, Inc. | 0.63% | 26.2 | 21.2 | 3.2 | 1.33% | 0.51% |
| OVV | Ovintiv Inc. | 0.62% | 19.3 | 9.0 | 2.0 | 1.73% | 0.68% |
| ITT | ITT Inc. | 0.62% | 38.8 | 21.6 | 3.7 | 0.78% | 0.33% |
| FDS | FactSet Research Systems Inc. | 0.62% | 20.7 | 13.9 | 4.3 | 1.54% | 0.63% |
| SEIC | SEI Investments Company | 0.61% | 18.4 | 15.8 | 5.1 | 1.00% | 0.70% |
| IDCC | InterDigital, Inc | 0.59% | 37.3 | 29.9 | 10.5 | 0.94% | 0.33% |
| APA | APA Corporation | 0.58% | 10.4 | 9.4 | 2.0 | 2.03% | 1.18% |
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 SQLT valuation
Adding up its 484 holdings with company data, SQLT trades at 20.6 times trailing earnings and 15.4 times analysts' forward estimates, with a price-to-book ratio of 2.72 and a dividend yield of 1.26%. Its earnings yield of 4.86% is 0.47 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 9.1% of the fund and earn 9.7% of its combined profit. By sector, Healthcare is the most expensive at 34.9 times earnings and Financial Services the cheapest at 12.7. Companies that lost money over the past year are 4.0% 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 99.96% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SQLT chart, SQLT holdings, SQLT dividends.
SQLT valuation FAQ
What is the P/E ratio of SQLT?
Based on its holdings, SQLT has a trailing P/E of 20.6 and a forward P/E of 15.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SQLT?
The trailing earnings yield is 4.86% (1 ÷ P/E) and the forward earnings yield 6.47%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SQLT more expensive than the S&P 500?
SQLT trades at 20.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.4 and 19.9.
What is the price-to-book ratio of SQLT?
The holdings of SQLT trade at 2.72 times book value, with a combined return on equity of 13.2%.
Which sector in SQLT has the highest P/E?
Healthcare has the highest P/E at 34.9 and Financial Services the lowest at 12.7.