Aptus Large Cap Upside ETF (UPSD) Valuation
UPSD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.8 trailing earnings
- Forward P/E
- 18.4 analyst estimates
- Price / sales
- 1.97
- Price / book
- 5.40
- EV / EBITDA
- 16.3
- Earnings yield
- 3.88% inverse of P/E
- Dividend yield
- 1.19% of the holdings
- Return on equity
- 21.0% combined
- Net margin
- 7.6% combined
- Beta
- 0.84 weighted, vs S&P 500
UPSD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| UPSD | 25.8 | 18.4 | 1.97 | 5.40 | 1.19% | 21.0% | 7.6% | 2.3% |
| 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.
UPSD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 27.5% | 36.4 | 24.2 | 8.78 | 13.91 | 0.43% | 38.2% |
| Healthcare | 12.2% | 62.5 | 18.5 | 0.58 | 5.30 | 1.17% | 8.5% |
| Financial Services | 12.0% | 13.5 | 13.5 | 2.36 | 2.71 | 1.04% | 20.1% |
| Consumer Defensive | 10.8% | 26.7 | 19.1 | 1.60 | 10.09 | 2.54% | 37.9% |
| Industrials | 8.7% | 27.3 | 22.4 | 2.83 | 7.97 | 1.12% | 29.2% |
| Energy | 7.5% | 19.4 | 9.9 | 1.55 | 3.22 | 1.67% | 16.5% |
| Communication Services | 6.4% | 17.4 | 18.4 | 3.27 | 4.54 | 1.13% | 26.1% |
| Consumer Cyclical | 4.0% | 22.2 | 22.1 | 2.97 | 7.56 | 0.90% | 34.0% |
| Utilities | 2.9% | 21.5 | 17.5 | 3.14 | 1.86 | 2.89% | 8.6% |
| Real Estate | 2.4% | 125.4 | 95.9 | 9.19 | 3.29 | 1.91% | 2.6% |
| Basic Materials | 1.4% | 22.3 | 16.9 | 5.74 | 4.69 | 1.13% | 21.0% |
UPSD 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 UPSD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
UPSD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 4.87% | 39.4 | 35.2 | 10.7 | 0.31% | 3.33% |
| NVDA | NVIDIA Corporation | 4.64% | 27.1 | 24.9 | 17.1 | 0.47% | 4.62% |
| MSFT | Microsoft Corporation | 3.41% | 29.5 | 25.1 | 11.8 | 0.74% | 3.12% |
| FXFXX | First American Funds Inc. - Treasury Obligations Fund | 2.66% | — | — | — | — | — |
| AMZN | Amazon.com, Inc. | 1.81% | 20.1 | 23.6 | 3.5 | — | 2.43% |
| MU | Micron Technology, Inc. | 1.78% | 11.8 | 7.0 | 7.5 | 0.07% | 4.06% |
| MPC | Marathon Petroleum Corporation | 1.69% | 16.6 | 5.5 | 0.9 | 0.84% | 2.75% |
| XOM | Exxon Mobil Corporation | 1.55% | 23.0 | 14.8 | 2.0 | 2.30% | 1.81% |
| DDOG | Datadog, Inc. | 1.54% | 494.2 | 84.7 | 22.4 | — | 0.08% |
| CAH | Cardinal Health, Inc. | 1.54% | 35.1 | 17.7 | 0.2 | 0.81% | 1.18% |
| GOOGL | Alphabet Inc. | 1.49% | 17.1 | 22.8 | 9.3 | 0.26% | 2.35% |
| RPRX | Royalty Pharma plc | 1.48% | 32.4 | 29.4 | 13.9 | 1.54% | 1.23% |
| LLY | Eli Lilly and Company | 1.44% | 42.2 | 24.4 | 14.1 | 0.55% | 0.92% |
| DELL | Dell Technologies Inc. | 1.43% | 26.3 | 21.3 | 1.9 | 0.56% | 1.47% |
| CBOE | Cboe Global Markets, Inc. | 1.43% | 24.6 | 21.9 | 6.5 | 1.09% | 1.57% |
| GOOG | Alphabet Inc. | 1.39% | 16.9 | 21.8 | 9.2 | 0.26% | 2.22% |
| JNJ | Johnson & Johnson | 1.34% | 38.8 | 21.0 | 6.2 | 2.10% | 0.93% |
| MNST | Monster Beverage Corporation | 1.32% | 42.3 | 33.7 | 9.7 | — | 0.84% |
| KO | The Coca-Cola Company | 1.28% | 28.2 | 25.3 | 8.1 | 2.26% | 1.23% |
| WELL | Welltower Inc. | 1.28% | 105.3 | 78.1 | 13.3 | 1.45% | 0.33% |
| CB | Chubb Limited | 1.25% | 12.7 | 11.6 | 2.2 | 1.13% | 2.65% |
| MO | Altria Group, Inc. | 1.24% | 15.8 | 11.9 | 6.1 | 5.91% | 2.12% |
| MCK | McKesson Corporation | 1.19% | 26.9 | 19.7 | 0.3 | 0.37% | 1.19% |
| VTR | Ventas, Inc. | 1.15% | 159.0 | 128.2 | 6.9 | 2.42% | 0.20% |
| PANW | Palo Alto Networks, Inc. | 1.12% | 855.0 | 94.3 | 24.4 | — | 0.04% |
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 UPSD valuation
Adding up its 98 holdings with company data, UPSD trades at 25.8 times trailing earnings and 18.4 times analysts' forward estimates, with a price-to-book ratio of 5.40 and a dividend yield of 1.19%. Its earnings yield of 3.88% is 1.45 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 25.5% of the fund and earn 25.7% of its combined profit. By sector, Real Estate is the most expensive at 125.4 times earnings and Financial Services the cheapest at 13.5. Companies that lost money over the past year are 2.3% 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 97.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: UPSD chart, UPSD performance, UPSD holdings, UPSD dividends.
UPSD valuation FAQ
What is the P/E ratio of UPSD?
Based on its holdings, UPSD has a trailing P/E of 25.8 and a forward P/E of 18.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of UPSD?
The trailing earnings yield is 3.88% (1 ÷ P/E) and the forward earnings yield 5.43%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is UPSD more expensive than the S&P 500?
UPSD trades at 25.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.4 and 19.9.
What is the price-to-book ratio of UPSD?
The holdings of UPSD trade at 5.40 times book value, with a combined return on equity of 21.0%.
Which sector in UPSD has the highest P/E?
Real Estate has the highest P/E at 125.4 and Financial Services the lowest at 13.5.