Cambria Tax Aware ETF (TAX) Valuation
TAX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.2 trailing earnings
- Forward P/E
- 14.8 analyst estimates
- Price / sales
- 1.14
- Price / book
- 3.25
- EV / EBITDA
- 9.9
- Earnings yield
- 4.14% inverse of P/E
- Dividend yield
- 0.19% of the holdings
- Return on equity
- 13.4% combined
- Net margin
- 4.7% combined
- Beta
- 1.11 weighted, vs S&P 500
TAX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TAX | 24.2 | 14.8 | 1.14 | 3.25 | 0.19% | 13.4% | 4.7% | 13.6% |
| 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.
TAX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 23.3% | 44.6 | 18.4 | 1.19 | 5.23 | 0.11% | 11.7% |
| Technology | 18.8% | 29.0 | 19.7 | 2.45 | 4.74 | 0.04% | 16.3% |
| Industrials | 18.4% | 27.7 | 17.1 | 1.15 | 3.11 | 0.30% | 11.2% |
| Consumer Cyclical | 13.1% | 16.0 | 10.8 | 0.66 | 2.79 | 0.35% | 17.4% |
| Financial Services | 8.7% | 12.9 | 11.3 | 2.10 | 1.60 | 0.22% | 12.4% |
| Consumer Defensive | 6.0% | 21.6 | 16.2 | 0.74 | 4.13 | 0.00% | 19.2% |
| Communication Services | 5.0% | 8.7 | 7.5 | 0.87 | 1.73 | 0.50% | 19.9% |
| Real Estate | 1.9% | n/m | 14.2 | 0.63 | 2.80 | 0.00% | −34.1% |
| Basic Materials | 1.2% | 15.4 | 13.8 | 1.47 | 2.33 | 0.48% | 15.2% |
| Utilities | 0.8% | 26.5 | 20.7 | 3.07 | 3.16 | 0.63% | 11.9% |
TAX 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 TAX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TAX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| FGXXX | First American Funds Inc. - Government Obligations Fund | 2.35% | — | — | — | — | — |
| TWLO | Twilio Inc | 1.94% | 33.8 | 43.7 | 6.7 | — | 1.44% |
| AMD | Advanced Micro Devices, Inc. | 1.91% | 134.9 | 39.5 | 20.9 | — | 0.36% |
| RVMD | Revolution Medicines, Inc. | 1.83% | — | — | 9,035.1 | — | −2.29% |
| ROIV | Roivant Sciences Ltd. | 1.63% | — | — | 3,215.5 | — | −0.65% |
| NTRA | Natera, Inc. | 1.63% | — | — | 20.9 | — | −0.14% |
| FROG | JFrog Ltd. | 1.62% | — | 81.3 | 17.3 | — | −0.18% |
| DOCU | DocuSign, Inc. | 1.54% | 45.5 | 15.1 | 4.2 | — | 0.85% |
| FFIV | F5, Inc. | 1.51% | 35.2 | 24.6 | 7.6 | — | 1.08% |
| CRL | Charles River Laboratories International, Inc. | 1.50% | — | 22.4 | 3.6 | — | −0.60% |
| EXEL | Exelixis, Inc. | 1.49% | 19.6 | 13.6 | 6.3 | — | 1.90% |
| THC | Tenet Healthcare Corporation | 1.35% | 10.5 | 12.5 | 1.0 | — | 3.22% |
| PACS | PACS Group, Inc. | 1.33% | 27.4 | 15.5 | 1.3 | — | 1.21% |
| CART | Instacart (Maplebear Inc.) | 1.29% | 27.2 | 13.0 | 3.0 | — | 1.19% |
| JAZZ | Jazz Pharmaceuticals plc | 1.28% | 14.4 | 10.9 | 3.0 | — | 2.22% |
| URBN | Urban Outfitters, Inc. | 1.26% | 13.5 | 11.9 | 1.1 | — | 2.33% |
| LLY | Eli Lilly and Company | 1.25% | 42.2 | 24.4 | 14.1 | 0.55% | 0.74% |
| VSAT | Viasat, Inc. | 1.23% | — | 144.9 | 1.8 | — | −0.11% |
| UTHR | United Therapeutics Corporation | 1.21% | 19.1 | 16.4 | 7.2 | — | 1.60% |
| USFD | US Foods Holding Corp. | 1.19% | 31.4 | 17.0 | 0.5 | — | 0.95% |
| AMG | Affiliated Managers Group, Inc. | 1.19% | 13.4 | 8.8 | 4.4 | 0.01% | 2.21% |
| CHTR | Charter Communications, Inc. | 1.18% | 2.9 | 2.5 | 0.3 | — | 10.35% |
| WAB | Westinghouse Air Brake Technologies Corporation | 1.17% | 38.6 | 23.8 | 4.0 | 0.43% | 0.76% |
| MOH | Molina Healthcare, Inc. | 1.16% | — | 18.9 | 0.3 | — | 0.01% |
| MCK | McKesson Corporation | 1.15% | 26.9 | 19.7 | 0.3 | 0.37% | 1.07% |
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 TAX valuation
Adding up its 95 holdings with company data, TAX trades at 24.2 times trailing earnings and 14.8 times analysts' forward estimates, with a price-to-book ratio of 3.25 and a dividend yield of 0.19%. Its earnings yield of 4.14% is 1.19 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 17.5% of the fund and earn 1.8% of its combined profit. By sector, Healthcare is the most expensive at 44.6 times earnings and Communication Services the cheapest at 8.7. Companies that lost money over the past year are 13.6% 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 96.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TAX chart, TAX performance, TAX holdings, TAX dividends.
TAX valuation FAQ
What is the P/E ratio of TAX?
Based on its holdings, TAX has a trailing P/E of 24.2 and a forward P/E of 14.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TAX?
The trailing earnings yield is 4.14% (1 ÷ P/E) and the forward earnings yield 6.77%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TAX more expensive than the S&P 500?
TAX trades at 24.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.8 and 19.9.
What is the price-to-book ratio of TAX?
The holdings of TAX trade at 3.25 times book value, with a combined return on equity of 13.4%.
Which sector in TAX has the highest P/E?
Healthcare has the highest P/E at 44.6 and Communication Services the lowest at 8.7.