Lazard US Systematic Small Cap Equity ETF (SYZ) Valuation
SYZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 21.0 trailing earnings
- Forward P/E
- 13.9 analyst estimates
- Price / sales
- 1.35
- Price / book
- 2.44
- EV / EBITDA
- 11.2
- Earnings yield
- 4.76% inverse of P/E
- Dividend yield
- 1.32% of the holdings
- Return on equity
- 11.6% combined
- Net margin
- 6.4% combined
- Beta
- 1.04 weighted, vs S&P 500
SYZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SYZ | 21.0 | 13.9 | 1.35 | 2.44 | 1.32% | 11.6% | 6.4% | 8.5% |
| 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.
SYZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 20.4% | 39.0 | 15.9 | 1.57 | 3.72 | 0.28% | 9.5% |
| Financial Services | 16.7% | 11.5 | 10.2 | 1.35 | 1.62 | 1.79% | 14.0% |
| Industrials | 15.7% | 21.2 | 14.6 | 1.37 | 2.59 | 1.20% | 12.2% |
| Healthcare | 12.4% | 29.0 | 18.2 | 2.14 | 2.96 | 0.13% | 10.2% |
| Consumer Cyclical | 10.2% | 41.9 | 12.2 | 0.93 | 2.78 | 1.08% | 6.6% |
| Real Estate | 6.2% | 19.9 | 19.4 | 2.17 | 1.65 | 4.68% | 8.3% |
| Energy | 5.2% | 10.6 | 11.0 | 1.65 | 2.00 | 4.14% | 18.8% |
| Basic Materials | 4.9% | 16.5 | 13.0 | 0.89 | 2.06 | 1.24% | 12.4% |
| Communication Services | 3.5% | 25.0 | 12.3 | 1.59 | 3.87 | 1.05% | 15.5% |
| Consumer Defensive | 2.4% | 16.4 | 15.6 | 0.41 | 2.37 | 0.55% | 14.5% |
| Utilities | 0.5% | n/m | 28.4 | 2.43 | 4.91 | 4.22% | −9.6% |
| Information Technology | 0.0% | n/m | 45.0 | 20.20 | 2.74 | 0.00% | −2.7% |
SYZ 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 SYZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SYZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MLI | Mueller Industries, Inc. | 0.87% | 15.6 | 18.2 | 2.9 | 1.17% | 1.27% |
| TILE | Interface, Inc. | 0.85% | 14.7 | 14.3 | 1.5 | 0.33% | 1.33% |
| KAR | KAR Auction Services Inc | 0.79% | — | — | — | — | — |
| XP | XP Inc. | 0.76% | 15.3 | 8.5 | 0.8 | 0.68% | 1.14% |
| DT | Dynatrace, Inc. | 0.75% | 122.2 | 29.6 | 8.5 | — | 0.14% |
| GMED | Globus Medical, Inc. | 0.65% | 19.7 | 13.9 | 3.3 | — | 0.75% |
| TKR | The Timken Company | 0.64% | 30.5 | 15.4 | 1.6 | 1.28% | 0.48% |
| ARW | Arrow Electronics, Inc. | 0.63% | 13.7 | 5.0 | 0.3 | — | 1.06% |
| DOCU | DocuSign, Inc. | 0.63% | 45.5 | 15.1 | 4.2 | — | 0.32% |
| DGII | Digi International Inc. | 0.62% | 55.5 | 23.9 | 5.2 | — | 0.26% |
| QTWO | Q2 Holdings, Inc. | 0.62% | 43.9 | 18.0 | 4.6 | — | 0.33% |
| MCRI | Monarch Casino & Resort, Inc. | 0.61% | 18.2 | 16.9 | 3.6 | 1.06% | 0.77% |
| FTDR | Frontdoor, Inc. | 0.60% | 20.8 | 14.5 | 2.5 | — | 0.66% |
| DIOD | Diodes Incorporated | 0.60% | 44.3 | 12.5 | 2.3 | — | 0.31% |
| CG | Centerra Gold Inc | 0.58% | — | — | — | — | — |
| GDDY | GoDaddy Inc. | 0.57% | 15.8 | 8.7 | 2.6 | — | 0.83% |
| NBIX | Neurocrine Biosciences, Inc. | 0.57% | 19.9 | 14.1 | 4.1 | — | 0.66% |
| ADEA | Adeia Inc. | 0.57% | 18.7 | 15.6 | 4.8 | 0.98% | 0.69% |
| CPA | Copa Holdings, S.A. | 0.57% | 8.7 | 6.8 | 1.4 | 5.15% | 1.48% |
| NMIH | NMI Holdings, Inc. | 0.56% | 8.0 | 7.7 | 4.2 | — | 1.60% |
| TIGO | Millicom International Cellular S.A | 0.55% | 20.9 | 10.0 | 1.9 | 3.62% | 0.60% |
| EPAC | Enerpac Tool Group Corp. | 0.55% | 20.0 | 17.2 | 2.9 | 0.11% | 0.63% |
| ESE | ESCO Technologies Inc. | 0.55% | 46.2 | 25.4 | 5.0 | 0.13% | 0.27% |
| S | SentinelOne, Inc. | 0.54% | — | 75.2 | 6.8 | — | −0.57% |
| BRC | Brady Corporation | 0.54% | 19.1 | 15.4 | 2.3 | 1.22% | 0.64% |
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 SYZ valuation
Adding up its 449 holdings with company data, SYZ trades at 21.0 times trailing earnings and 13.9 times analysts' forward estimates, with a price-to-book ratio of 2.44 and a dividend yield of 1.32%. Its earnings yield of 4.76% is 0.57 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 7.2% of the fund and earn 7.1% of its combined profit. By sector, Consumer Cyclical is the most expensive at 41.9 times earnings and Energy the cheapest at 10.6. Companies that lost money over the past year are 8.5% 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 93.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SYZ chart, SYZ performance, SYZ holdings, SYZ dividends.
SYZ valuation FAQ
What is the P/E ratio of SYZ?
Based on its holdings, SYZ has a trailing P/E of 21.0 and a forward P/E of 13.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SYZ?
The trailing earnings yield is 4.76% (1 ÷ P/E) and the forward earnings yield 7.19%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SYZ more expensive than the S&P 500?
SYZ trades at 21.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.9 and 19.9.
What is the price-to-book ratio of SYZ?
The holdings of SYZ trade at 2.44 times book value, with a combined return on equity of 11.6%.
Which sector in SYZ has the highest P/E?
Consumer Cyclical has the highest P/E at 41.9 and Energy the lowest at 10.6.