WisdomTree U.S. Multifactor Fund (USMF) Valuation
USMF valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.3 trailing earnings
- Forward P/E
- 16.2 analyst estimates
- Price / sales
- 2.24
- Price / book
- 4.56
- EV / EBITDA
- 15.4
- Earnings yield
- 3.96% inverse of P/E
- Dividend yield
- 1.00% of the holdings
- Return on equity
- 18.1% combined
- Net margin
- 8.9% combined
- Beta
- 1.12 weighted, vs S&P 500
USMF valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| USMF | 25.3 | 16.2 | 2.24 | 4.56 | 1.00% | 18.1% | 8.9% | 6.6% |
| 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.
USMF valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 36.8% | 35.3 | 22.7 | 3.83 | 8.56 | 0.45% | 24.2% |
| Healthcare | 16.2% | 40.0 | 16.8 | 2.52 | 6.10 | 0.95% | 15.2% |
| Communication Services | 9.7% | 21.7 | 15.8 | 3.30 | 4.19 | 1.09% | 19.3% |
| Financial Services | 8.7% | 12.4 | 9.4 | 1.67 | 1.64 | 1.75% | 13.2% |
| Consumer Cyclical | 7.9% | 20.6 | 11.9 | 0.91 | 4.63 | 0.91% | 22.5% |
| Industrials | 7.7% | 26.6 | 20.4 | 2.01 | 5.07 | 1.09% | 19.1% |
| Energy | 4.8% | 14.3 | 8.4 | 1.22 | 2.11 | 1.47% | 14.8% |
| Consumer Defensive | 4.7% | 22.3 | 16.8 | 1.58 | 6.66 | 1.93% | 29.8% |
| Real Estate | 1.7% | 25.4 | 29.4 | 3.59 | 3.04 | 4.53% | 12.0% |
| Basic Materials | 1.5% | 18.2 | 12.5 | 2.35 | 3.40 | 0.98% | 18.6% |
| Utilities | 0.7% | 21.0 | 17.1 | 2.61 | 1.80 | 3.24% | 8.6% |
USMF 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 USMF weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
USMF largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 4.86% | 39.4 | 35.2 | 10.7 | 0.31% | 3.13% |
| GOOGL | Alphabet Inc. | 3.89% | 17.1 | 22.8 | 9.3 | 0.26% | 5.78% |
| NVDA | NVIDIA Corporation | 3.87% | 27.1 | 24.9 | 17.1 | 0.47% | 3.63% |
| LLY | Eli Lilly and Company | 1.54% | 42.2 | 24.4 | 14.1 | 0.55% | 0.93% |
| AVGO | Broadcom Inc. | 1.46% | 43.3 | 19.4 | 17.6 | 0.79% | 0.86% |
| EXPE | Expedia Group, Inc. | 1.34% | 18.0 | 11.3 | 2.2 | 0.66% | 1.89% |
| META | Meta Platforms, Inc. | 1.16% | 26.7 | 22.1 | 7.9 | 0.30% | 1.10% |
| MUSA | Murphy USA Inc. | 1.13% | 16.7 | 17.1 | 0.5 | 0.47% | 1.72% |
| EBAY | eBay Inc. | 1.12% | 25.3 | 16.6 | 4.5 | 1.03% | 1.13% |
| JNJ | Johnson & Johnson | 1.06% | 38.8 | 21.0 | 6.2 | 2.10% | 0.70% |
| GM | General Motors Company | 1.02% | 37.7 | 5.6 | 0.4 | 0.86% | 0.69% |
| MU | Micron Technology, Inc. | 0.94% | 11.8 | 7.0 | 7.5 | 0.07% | 2.03% |
| MRK | Merck & Co., Inc. | 0.93% | 115.8 | 15.3 | 5.4 | 2.33% | 0.20% |
| TPR | Tapestry, Inc. | 0.85% | 16.5 | 14.2 | 3.0 | 1.54% | 1.30% |
| MTCH | Match Group, Inc. | 0.81% | 15.2 | 9.7 | 2.8 | 1.86% | 1.35% |
| AMD | Advanced Micro Devices, Inc. | 0.77% | 134.9 | 39.5 | 20.9 | — | 0.15% |
| ABBV | AbbVie Inc. | 0.74% | 80.6 | 16.4 | 7.8 | 2.42% | 0.23% |
| HALO | Halozyme Therapeutics, Inc. | 0.72% | 35.6 | 11.5 | 8.3 | — | 0.51% |
| VLO | Valero Energy Corporation | 0.70% | 18.5 | 10.2 | 1.0 | 1.08% | 0.96% |
| UNH | UnitedHealth Group Incorporated | 0.69% | 25.8 | 16.6 | 0.8 | 2.31% | 0.67% |
| MO | Altria Group, Inc. | 0.68% | 15.8 | 11.9 | 6.1 | 5.91% | 1.09% |
| CSCO | Cisco Systems, Inc. | 0.68% | 32.2 | 19.8 | 6.7 | 1.56% | 0.53% |
| BMY | Bristol-Myers Squibb Company | 0.66% | 13.2 | 9.4 | 2.5 | 4.22% | 1.28% |
| VZ | Verizon Communications Inc. | 0.66% | 11.7 | 8.7 | 1.3 | 6.32% | 1.45% |
| ROKU | Roku, Inc | 0.66% | 65.8 | 39.1 | 4.4 | — | 0.26% |
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 USMF valuation
Adding up its 197 holdings with company data, USMF trades at 25.3 times trailing earnings and 16.2 times analysts' forward estimates, with a price-to-book ratio of 4.56 and a dividend yield of 1.00%. Its earnings yield of 3.96% is 1.37 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 21.4% of the fund and earn 20.9% of its combined profit. By sector, Healthcare is the most expensive at 40.0 times earnings and Financial Services the cheapest at 12.4. Companies that lost money over the past year are 6.6% 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 99.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: USMF chart, USMF performance, USMF holdings, USMF dividends.
USMF valuation FAQ
What is the P/E ratio of USMF?
Based on its holdings, USMF has a trailing P/E of 25.3 and a forward P/E of 16.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of USMF?
The trailing earnings yield is 3.96% (1 ÷ P/E) and the forward earnings yield 6.16%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is USMF more expensive than the S&P 500?
USMF trades at 25.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.2 and 19.9.
What is the price-to-book ratio of USMF?
The holdings of USMF trade at 4.56 times book value, with a combined return on equity of 18.1%.
Which sector in USMF has the highest P/E?
Healthcare has the highest P/E at 40.0 and Financial Services the lowest at 12.4.