Vanguard Energy ETF (VDE) Valuation
VDE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.5 trailing earnings
- Forward P/E
- 12.6 analyst estimates
- Price / sales
- 1.64
- Price / book
- 2.41
- EV / EBITDA
- 8.0
- Earnings yield
- 4.88% inverse of P/E
- Dividend yield
- 2.21% of the holdings
- Return on equity
- 11.8% combined
- Net margin
- 8.0% combined
- Beta
- 0.50 weighted, vs S&P 500
VDE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VDE | 20.5 | 12.6 | 1.64 | 2.41 | 2.21% | 11.8% | 8.0% | 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.
VDE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 95.8% | 20.3 | 12.6 | 1.64 | 2.41 | 2.22% | 11.8% |
| Basic Materials | 0.4% | n/m | 18.5 | 1.05 | 2.85 | 0.00% | −12.0% |
VDE 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 VDE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VDE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| XOM | Exxon Mobil Corporation | 21.83% | 23.0 | 14.8 | 2.0 | 2.30% | 20.40% |
| CVX | Chevron Corporation | 14.57% | 21.2 | 15.2 | 2.1 | 3.16% | 14.78% |
| COP | ConocoPhillips | 5.95% | 19.4 | 12.7 | 2.7 | 2.29% | 6.60% |
| MPC | Marathon Petroleum Corporation | 4.52% | 16.6 | 5.5 | 0.9 | 0.84% | 5.88% |
| VLO | Valero Energy Corporation | 4.46% | 18.5 | 10.2 | 1.0 | 1.08% | 5.18% |
| PSX | Phillips 66 | 4.05% | 16.8 | 9.7 | 0.8 | 1.81% | 5.20% |
| WMB | The Williams Companies, Inc. | 3.04% | 28.4 | 26.8 | 7.1 | 2.95% | 2.30% |
| SLB | Schlumberger Limited | 2.88% | 23.9 | 15.9 | 2.0 | 2.38% | 2.59% |
| EOG | EOG Resources, Inc. | 2.83% | 12.3 | 10.1 | 3.1 | 2.58% | 4.95% |
| KMI | Kinder Morgan, Inc. | 2.24% | 22.1 | 20.0 | 4.2 | 3.45% | 2.19% |
| LNG | Cheniere Energy, Inc. | 2.22% | 21.9 | 13.5 | 2.9 | 0.77% | 2.18% |
| TRGP | Targa Resources Corp. | 2.15% | 28.2 | 23.2 | 3.8 | 1.70% | 1.64% |
| BKR | Baker Hughes Company | 2.09% | 17.9 | 18.0 | 2.0 | 1.65% | 2.51% |
| DVN | Devon Energy Corporation | 2.03% | 11.1 | 9.3 | 3.0 | 2.52% | 3.95% |
| OXY | Occidental Petroleum Corporation | 1.54% | 17.7 | 14.6 | 2.6 | 1.80% | 1.87% |
| FANG | Diamondback Energy, Inc. | 1.33% | 38.8 | 10.0 | 3.5 | 2.16% | 0.74% |
| EQT | EQT Corporation | 1.14% | 12.6 | 14.1 | 3.7 | 1.25% | 1.95% |
| HAL | Halliburton Company | 1.08% | 17.6 | 11.4 | 1.2 | 2.03% | 1.31% |
| FTI | TechnipFMC plc | 1.03% | 24.3 | 21.3 | 2.6 | 0.29% | 0.91% |
| EXE | Expand Energy Corporation | 0.79% | 8.1 | 9.6 | 1.8 | 2.46% | 2.11% |
| OVV | Ovintiv Inc. | 0.68% | 19.3 | 9.0 | 2.0 | 1.73% | 0.76% |
| DINO | HF Sinclair Corporation | 0.67% | 11.9 | 10.0 | 0.7 | 1.68% | 1.20% |
| TPL | Texas Pacific Land Corporation | 0.64% | 44.8 | 37.7 | 27.0 | 0.68% | 0.31% |
| YZ8 | Permian Resources Corporation | 0.61% | — | — | — | — | — |
| APA | APA Corporation | 0.60% | 10.4 | 9.4 | 2.0 | 2.03% | 1.24% |
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 VDE valuation
Adding up its 102 holdings with company data, VDE trades at 20.5 times trailing earnings and 12.6 times analysts' forward estimates, with a price-to-book ratio of 2.41 and a dividend yield of 2.21%. Its earnings yield of 4.88% is 0.45 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 66.4% of the fund and earn 70.1% of its combined profit. 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 98.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VDE chart, VDE performance, VDE holdings, VDE dividends.
VDE valuation FAQ
What is the P/E ratio of VDE?
Based on its holdings, VDE has a trailing P/E of 20.5 and a forward P/E of 12.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VDE?
The trailing earnings yield is 4.88% (1 ÷ P/E) and the forward earnings yield 7.94%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VDE more expensive than the S&P 500?
VDE trades at 20.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.6 and 19.9.
What is the price-to-book ratio of VDE?
The holdings of VDE trade at 2.41 times book value, with a combined return on equity of 11.8%.