iShares MSCI USA Min Vol Factor ETF (USMV) Valuation
USMV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.1 trailing earnings
- Forward P/E
- 18.3 analyst estimates
- Price / sales
- 2.27
- Price / book
- 4.34
- EV / EBITDA
- 15.6
- Earnings yield
- 3.99% inverse of P/E
- Dividend yield
- 1.45% of the holdings
- Return on equity
- 17.3% combined
- Net margin
- 9.0% combined
- Beta
- 0.74 weighted, vs S&P 500
USMV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| USMV | 25.1 | 18.3 | 2.27 | 4.34 | 1.45% | 17.3% | 9.0% | 2.7% |
| 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.
USMV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 31.6% | 30.6 | 20.9 | 6.73 | 7.33 | 0.67% | 23.9% |
| Healthcare | 14.1% | 42.0 | 17.0 | 0.79 | 5.78 | 1.20% | 13.8% |
| Financial Services | 13.6% | 15.6 | 15.3 | 2.91 | 2.65 | 0.96% | 17.0% |
| Consumer Defensive | 9.6% | 29.4 | 20.2 | 1.63 | 6.05 | 2.26% | 20.6% |
| Utilities | 6.8% | 19.9 | 16.5 | 3.02 | 1.89 | 3.33% | 9.5% |
| Industrials | 6.0% | 28.3 | 21.1 | 3.06 | 6.48 | 1.40% | 22.9% |
| Consumer Cyclical | 5.3% | 24.0 | 21.2 | 3.50 | 21.24 | 1.30% | 88.5% |
| Communication Services | 4.4% | 14.2 | 12.2 | 1.92 | 2.53 | 3.36% | 17.8% |
| Energy | 4.1% | 19.3 | 13.4 | 2.14 | 2.52 | 2.39% | 13.1% |
| Real Estate | 2.4% | 71.8 | 53.4 | 8.86 | 2.41 | 2.85% | 3.4% |
| Basic Materials | 1.1% | 21.0 | 17.1 | 5.28 | 4.50 | 1.30% | 21.4% |
USMV 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 USMV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
USMV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 1.56% | 29.5 | 25.1 | 11.8 | 0.74% | 1.34% |
| BRK.B | Berkshire Hathaway Inc. | 1.54% | 13.4 | 22.7 | 3.0 | — | 2.91% |
| XOM | Exxon Mobil Corporation | 1.50% | 23.0 | 14.8 | 2.0 | 2.30% | 1.65% |
| CB | Chubb Limited | 1.49% | 12.7 | 11.6 | 2.2 | 1.13% | 2.96% |
| DUK | Duke Energy Corporation | 1.44% | 18.3 | 15.9 | 2.9 | 3.57% | 2.00% |
| MCK | McKesson Corporation | 1.43% | 26.9 | 19.7 | 0.3 | 0.37% | 1.35% |
| MRK | Merck & Co., Inc. | 1.43% | 115.8 | 15.3 | 5.4 | 2.33% | 0.31% |
| SO | The Southern Company | 1.41% | 22.0 | 17.0 | 3.5 | 3.33% | 1.63% |
| MSI | Motorola Solutions, Inc. | 1.40% | 36.5 | 23.9 | 6.3 | 1.05% | 0.97% |
| WELL | Welltower Inc. | 1.40% | 105.3 | 78.1 | 13.3 | 1.45% | 0.34% |
| NVDA | NVIDIA Corporation | 1.40% | 27.1 | 24.9 | 17.1 | 0.47% | 1.31% |
| JNJ | Johnson & Johnson | 1.37% | 38.8 | 21.0 | 6.2 | 2.10% | 0.89% |
| APH | Amphenol Corporation | 1.35% | 39.7 | 24.6 | 6.7 | 0.63% | 0.86% |
| VRTX | Vertex Pharmaceuticals Incorporated | 1.34% | 28.9 | 24.1 | 10.1 | — | 1.18% |
| WM | Waste Management, Inc. | 1.33% | 32.1 | 22.5 | 3.5 | 1.67% | 1.05% |
| VZ | Verizon Communications Inc. | 1.31% | 11.7 | 8.7 | 1.3 | 6.32% | 2.85% |
| WCN | Waste Connections, Inc. | 1.31% | 40.6 | 18.1 | 4.3 | 0.83% | 0.82% |
| RSG | Republic Services, Inc. | 1.30% | 32.8 | 26.3 | 4.2 | 1.16% | 1.01% |
| KO | The Coca-Cola Company | 1.30% | 28.2 | 25.3 | 8.1 | 2.26% | 1.16% |
| MA | Mastercard Incorporated | 1.30% | 34.0 | 24.2 | 15.4 | 0.56% | 0.97% |
| ED | Consolidated Edison, Inc. | 1.29% | 18.2 | 16.1 | 2.3 | 3.16% | 1.79% |
| COR | Cencora | 1.28% | 25.3 | 15.7 | 0.2 | 0.70% | 1.28% |
| CSCO | Cisco Systems, Inc. | 1.27% | 32.2 | 19.8 | 6.7 | 1.56% | 1.00% |
| CRM | Salesforce, Inc. | 1.14% | 22.0 | 14.0 | 4.5 | 0.73% | 1.31% |
| ROP | Roper Technologies, Inc. | 1.11% | 15.9 | 15.0 | 4.6 | 0.95% | 1.76% |
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 USMV valuation
Adding up its 174 holdings with company data, USMV trades at 25.1 times trailing earnings and 18.3 times analysts' forward estimates, with a price-to-book ratio of 4.34 and a dividend yield of 1.45%. Its earnings yield of 3.99% is 1.34 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 14.6% of the fund and earn 15.5% of its combined profit. By sector, Real Estate is the most expensive at 71.8 times earnings and Communication Services the cheapest at 14.2. Companies that lost money over the past year are 2.7% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: USMV chart, USMV performance, USMV holdings, USMV dividends.
USMV valuation FAQ
What is the P/E ratio of USMV?
Based on its holdings, USMV has a trailing P/E of 25.1 and a forward P/E of 18.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of USMV?
The trailing earnings yield is 3.99% (1 ÷ P/E) and the forward earnings yield 5.48%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is USMV more expensive than the S&P 500?
USMV trades at 25.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.3 and 19.9.
What is the price-to-book ratio of USMV?
The holdings of USMV trade at 4.34 times book value, with a combined return on equity of 17.3%.
Which sector in USMV has the highest P/E?
Real Estate has the highest P/E at 71.8 and Communication Services the lowest at 14.2.