ProShares Ultra Semiconductors (USD) Valuation
USD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 31.1 trailing earnings
- Forward P/E
- 20.8 analyst estimates
- Price / sales
- 13.37
- Price / book
- 15.78
- EV / EBITDA
- 27.2
- Earnings yield
- 3.22% inverse of P/E
- Dividend yield
- 0.51% of the holdings
- Return on equity
- 50.7% combined
- Net margin
- 43.0% combined
- Beta
- 2.04 weighted, vs S&P 500
USD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| USD | 31.1 | 20.8 | 13.37 | 15.78 | 0.51% | 50.7% | 43.0% | 4.1% |
| 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.
USD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 53.8% | 31.1 | 20.8 | 13.37 | 15.78 | 0.51% | 50.7% |
USD 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 USD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
USD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 25.21% | 27.1 | 24.9 | 17.1 | 0.47% | 53.80% |
| IQMM | Proshares Genius Money Market ETF | 18.37% | — | — | — | — | — |
| AVGO | Broadcom Inc. | 7.57% | 43.3 | 19.4 | 17.6 | 0.79% | 10.10% |
| MU | Micron Technology, Inc. | 4.67% | 11.8 | 7.0 | 7.5 | 0.07% | 22.82% |
| AMD | Advanced Micro Devices, Inc. | 4.11% | 134.9 | 39.5 | 20.9 | — | 1.76% |
| INTC | Intel Corporation | 2.13% | — | 63.3 | 8.3 | — | −2.91% |
| AMAT | Applied Materials, Inc. | 1.50% | 35.3 | 23.4 | 10.5 | 0.52% | 2.45% |
| LRCX | Lam Research Corporation | 1.40% | 45.8 | 33.7 | 14.2 | 0.50% | 1.76% |
| TXN | Texas Instruments Incorporated | 1.24% | 42.1 | 27.5 | 13.0 | 2.20% | 1.70% |
| MRVL | Marvell Technology, Inc. | 0.95% | 72.3 | 62.1 | 21.7 | 0.11% | 0.76% |
| KLAC | KLA Corporation | 0.94% | 45.3 | 34.8 | 15.9 | 0.56% | 1.20% |
| QCOM | QUALCOMM Incorporated | 0.94% | 19.9 | 19.6 | 4.2 | 2.14% | 2.72% |
| ADI | Analog Devices, Inc. | 0.91% | 47.0 | 23.2 | 13.8 | 1.11% | 1.12% |
| NXPI | NXP Semiconductors N.V. | 0.29% | 19.6 | 12.9 | 4.4 | 1.77% | 0.86% |
| MPWR | Monolithic Power Systems, Inc. | 0.27% | 73.7 | 38.8 | 18.2 | 0.66% | 0.21% |
| TER | Teradyne, Inc. | 0.24% | 44.6 | 30.7 | 11.4 | 0.16% | 0.31% |
| ALAB | Astera Labs, Inc. | 0.20% | 140.8 | 55.6 | 41.3 | — | 0.08% |
| MCHP | Microchip Technology Incorporated | 0.19% | 108.6 | 20.5 | 7.8 | 2.46% | 0.10% |
| CRDO | Credo Technology Group Holding Ltd | 0.14% | 60.2 | 30.9 | 20.0 | — | 0.13% |
| ON | ON Semiconductor Corporation | 0.14% | 46.5 | 16.5 | 4.5 | — | 0.17% |
| Q | Qnity Electronics, Inc. | 0.11% | 41.2 | 24.8 | 4.6 | 0.28% | 0.15% |
| ENTG | Entegris, Inc. | 0.10% | 69.4 | 31.6 | 6.4 | 0.29% | 0.08% |
| SWKS | Skyworks Solutions, Inc. | 0.09% | 41.3 | 17.8 | 4.7 | — | 0.13% |
| MTSI | MACOM Technology Solutions Holdings, Inc. | 0.08% | 83.5 | 32.3 | 17.2 | — | 0.05% |
| LSCC | Lattice Semiconductor Corporation | 0.07% | 414.6 | 38.8 | 22.6 | — | 0.01% |
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 USD valuation
Adding up its 35 holdings with company data, USD trades at 31.1 times trailing earnings and 20.8 times analysts' forward estimates, with a price-to-book ratio of 15.78 and a dividend yield of 0.51%. Its earnings yield of 3.22% is 2.11 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 67.1% of the fund and earn 93.4% of its combined profit. Companies that lost money over the past year are 4.1% 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 74.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: USD chart, USD performance, USD holdings, USD dividends.
USD valuation FAQ
What is the P/E ratio of USD?
Based on its holdings, USD has a trailing P/E of 31.1 and a forward P/E of 20.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of USD?
The trailing earnings yield is 3.22% (1 ÷ P/E) and the forward earnings yield 4.80%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is USD more expensive than the S&P 500?
USD trades at 31.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.8 and 19.9.
What is the price-to-book ratio of USD?
The holdings of USD trade at 15.78 times book value, with a combined return on equity of 50.7%.