Invesco Raymond James SB-1 Equity ETF (UPGD) Valuation
UPGD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 39.9 trailing earnings
- Forward P/E
- 17.8 analyst estimates
- Price / sales
- 1.60
- Price / book
- 4.07
- EV / EBITDA
- 14.7
- Earnings yield
- 2.51% inverse of P/E
- Dividend yield
- 1.79% of the holdings
- Return on equity
- 10.2% combined
- Net margin
- 4.0% combined
- Beta
- 1.02 weighted, vs S&P 500
UPGD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| UPGD | 39.9 | 17.8 | 1.60 | 4.07 | 1.79% | 10.2% | 4.0% | 11.3% |
| 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.
UPGD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 23.5% | 26.0 | 20.9 | 3.15 | 8.58 | 1.57% | 33.1% |
| Consumer Cyclical | 22.8% | 112.3 | 16.4 | 1.43 | 5.04 | 1.46% | 4.5% |
| Technology | 15.0% | 33.3 | 19.9 | 4.15 | 4.91 | 1.24% | 14.7% |
| Consumer Defensive | 13.6% | 20.3 | 17.9 | 1.21 | 3.71 | 2.77% | 18.2% |
| Healthcare | 11.0% | n/m | 18.0 | 0.84 | 3.40 | 0.41% | −0.9% |
| Utilities | 5.8% | 20.1 | 15.9 | 3.12 | 2.07 | 3.80% | 10.3% |
| Basic Materials | 4.1% | n/m | 11.1 | 0.58 | 1.51 | 4.50% | −5.8% |
| Energy | 2.2% | 17.7 | 14.6 | 2.61 | 1.68 | 1.80% | 9.5% |
UPGD 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 UPGD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
UPGD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ILMN | Illumina, Inc. | 2.68% | 49.0 | 40.3 | 8.8 | — | 2.23% |
| FFIV | F5, Inc. | 2.46% | 35.2 | 24.6 | 7.6 | — | 2.84% |
| EBAY | eBay Inc. | 2.40% | 25.3 | 16.6 | 4.5 | 1.03% | 3.85% |
| EL | The Estée Lauder Companies Inc. | 2.32% | 209.1 | 29.8 | 2.5 | 1.34% | 0.45% |
| NTAP | NetApp, Inc. | 2.32% | 28.7 | 21.4 | 5.4 | 1.02% | 3.29% |
| MTD | Mettler-Toledo International Inc. | 2.29% | 36.6 | 28.5 | 7.9 | — | 2.54% |
| CTSH | Cognizant Technology Solutions Corporation | 2.27% | 14.2 | 9.4 | 1.4 | 2.00% | 6.49% |
| OXY | Occidental Petroleum Corporation | 2.24% | 17.7 | 14.6 | 2.6 | 1.80% | 5.14% |
| EXPD | Expeditors International of Washington, Inc. | 2.18% | 28.5 | 24.4 | 2.1 | 0.83% | 3.11% |
| TXN | Texas Instruments Incorporated | 2.15% | 42.1 | 27.5 | 13.0 | 2.20% | 2.08% |
| CTAS | Cintas Corporation | 2.14% | 42.1 | 36.2 | 7.3 | 0.97% | 2.06% |
| DOW | Dow Inc. | 2.13% | — | 14.1 | 0.5 | 4.68% | −5.32% |
| CNC | Centene Corporation | 2.12% | — | 11.2 | 0.2 | — | −13.02% |
| ALLE | Allegion plc | 2.12% | 20.5 | 15.9 | 3.1 | 1.41% | 4.20% |
| WSM | Williams-Sonoma, Inc. | 2.11% | 25.7 | 24.6 | 3.7 | 1.22% | 3.35% |
| TSLA | Tesla, Inc. | 2.10% | 328.4 | 158.7 | 13.5 | — | 0.26% |
| ADP | Automatic Data Processing, Inc. | 2.10% | 26.4 | 22.0 | 5.2 | 2.35% | 3.24% |
| MAR | Marriott International, Inc. | 2.07% | 40.1 | 26.5 | 13.7 | 0.75% | 2.10% |
| BDX | Becton, Dickinson and Company | 2.07% | 44.6 | 13.7 | 2.3 | 2.19% | 1.89% |
| FAST | Fastenal Company | 2.06% | 41.5 | 37.5 | 6.4 | 2.04% | 2.02% |
| YUM | Yum! Brands, Inc. | 2.06% | 19.0 | 20.4 | 4.7 | 1.99% | 4.41% |
| ITW | Illinois Tool Works Inc. | 2.03% | 24.7 | 21.9 | 4.7 | 2.53% | 3.35% |
| CHD | Church & Dwight Co., Inc. | 2.03% | 33.5 | 23.4 | 4.0 | 1.18% | 2.46% |
| ADM | Archer-Daniels-Midland Company | 2.02% | 22.6 | 15.6 | 0.5 | 2.52% | 3.63% |
| OTIS | Otis Worldwide Corporation | 2.02% | 18.3 | 15.1 | 1.8 | 2.47% | 4.47% |
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 UPGD valuation
Adding up its 49 holdings with company data, UPGD trades at 39.9 times trailing earnings and 17.8 times analysts' forward estimates, with a price-to-book ratio of 4.07 and a dividend yield of 1.79%. Its earnings yield of 2.51% is 2.82 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 23.3% of the fund and earn 32.0% of its combined profit. By sector, Consumer Cyclical is the most expensive at 112.3 times earnings and Energy the cheapest at 17.7. Companies that lost money over the past year are 11.3% 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 98.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: UPGD chart, UPGD performance, UPGD holdings, UPGD dividends.
UPGD valuation FAQ
What is the P/E ratio of UPGD?
Based on its holdings, UPGD has a trailing P/E of 39.9 and a forward P/E of 17.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of UPGD?
The trailing earnings yield is 2.51% (1 ÷ P/E) and the forward earnings yield 5.63%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is UPGD more expensive than the S&P 500?
UPGD trades at 39.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.8 and 19.9.
What is the price-to-book ratio of UPGD?
The holdings of UPGD trade at 4.07 times book value, with a combined return on equity of 10.2%.
Which sector in UPGD has the highest P/E?
Consumer Cyclical has the highest P/E at 112.3 and Energy the lowest at 17.7.