SPDR S&P 1500 Value Tilt ETF (VLU) Valuation
VLU valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 21.7 trailing earnings
- Forward P/E
- 14.2 analyst estimates
- Price / sales
- 1.39
- Price / book
- 2.71
- EV / EBITDA
- 12.2
- Earnings yield
- 4.62% inverse of P/E
- Dividend yield
- 1.83% of the holdings
- Return on equity
- 12.5% combined
- Net margin
- 6.4% combined
- Beta
- 0.93 weighted, vs S&P 500
VLU valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VLU | 21.7 | 14.2 | 1.39 | 2.71 | 1.83% | 12.5% | 6.4% | 4.7% |
| 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.
VLU valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 18.8% | 13.4 | 12.1 | 2.07 | 1.72 | 1.87% | 12.8% |
| Technology | 18.7% | 27.9 | 18.3 | 3.22 | 5.80 | 0.75% | 20.8% |
| Healthcare | 13.1% | 39.1 | 14.5 | 0.71 | 3.17 | 1.69% | 8.1% |
| Consumer Cyclical | 9.5% | 27.1 | 14.4 | 0.95 | 3.00 | 1.35% | 11.1% |
| Energy | 8.2% | 18.4 | 10.9 | 1.45 | 2.22 | 2.19% | 12.0% |
| Communication Services | 7.6% | 14.4 | 12.2 | 1.89 | 2.54 | 2.36% | 17.6% |
| Industrials | 7.4% | 24.6 | 15.3 | 1.24 | 3.58 | 1.72% | 14.5% |
| Consumer Defensive | 7.2% | 33.6 | 17.1 | 0.89 | 3.70 | 2.68% | 11.0% |
| Utilities | 3.3% | 16.6 | 14.1 | 2.34 | 1.83 | 3.42% | 11.0% |
| Real Estate | 3.0% | 28.4 | 22.2 | 3.58 | 1.80 | 4.81% | 6.3% |
| Basic Materials | 2.3% | 120.4 | 13.2 | 1.22 | 2.31 | 1.89% | 1.9% |
| Services | 0.0% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
VLU 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 VLU weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VLU largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 3.24% | 29.5 | 25.1 | 11.8 | 0.74% | 2.42% |
| BRK.B | Berkshire Hathaway Inc. | 2.62% | 13.4 | 22.7 | 3.0 | — | 4.31% |
| AMZN | Amazon.com, Inc. | 2.56% | 20.1 | 23.6 | 3.5 | — | 2.79% |
| AAPL | Apple Inc. | 2.22% | 39.4 | 35.2 | 10.7 | 0.31% | 1.24% |
| XOM | Exxon Mobil Corporation | 1.50% | 23.0 | 14.8 | 2.0 | 2.30% | 1.44% |
| JPM | JPMorgan Chase & Co. | 1.47% | 14.2 | 13.5 | 4.7 | 1.94% | 2.27% |
| GOOG | Alphabet Inc. | 1.45% | 16.9 | 21.8 | 9.2 | 0.26% | 1.88% |
| META | Meta Platforms, Inc. | 1.34% | 26.7 | 22.1 | 7.9 | 0.30% | 1.10% |
| UNH | UnitedHealth Group Incorporated | 1.31% | 25.8 | 16.6 | 0.8 | 2.31% | 1.11% |
| VZ | Verizon Communications Inc. | 1.28% | 11.7 | 8.7 | 1.3 | 6.32% | 2.41% |
| CVX | Chevron Corporation | 1.28% | 21.2 | 15.2 | 2.1 | 3.16% | 1.32% |
| WMT | Walmart Inc. | 1.24% | 43.0 | 38.0 | 1.3 | 0.83% | 0.63% |
| DELL | Dell Technologies Inc. | 0.98% | 26.3 | 21.3 | 1.9 | 0.56% | 0.82% |
| NVDA | NVIDIA Corporation | 0.97% | 27.1 | 24.9 | 17.1 | 0.47% | 0.79% |
| MU | Micron Technology, Inc. | 0.94% | 11.8 | 7.0 | 7.5 | 0.07% | 1.75% |
| BAC | Bank of America Corporation | 0.92% | 12.2 | 10.8 | 3.1 | 2.50% | 1.66% |
| MPC | Marathon Petroleum Corporation | 0.92% | 16.6 | 5.5 | 0.9 | 0.84% | 1.22% |
| CVS | CVS Health Corporation | 0.81% | 24.3 | 10.7 | 0.3 | 2.88% | 0.74% |
| AMD | Advanced Micro Devices, Inc. | 0.81% | 134.9 | 39.5 | 20.9 | — | 0.13% |
| JNJ | Johnson & Johnson | 0.66% | 38.8 | 21.0 | 6.2 | 2.10% | 0.37% |
| ELV | Elevance Health Inc. | 0.66% | 19.0 | 13.7 | 0.5 | 1.61% | 0.76% |
| WFC | Wells Fargo & Company | 0.62% | 11.8 | 10.2 | 3.0 | 2.38% | 1.15% |
| PFE | Pfizer Inc. | 0.62% | 38.9 | 9.7 | 2.6 | 5.81% | 0.35% |
| INTC | Intel Corporation | 0.59% | — | 63.3 | 8.3 | — | −0.30% |
| MRK | Merck & Co., Inc. | 0.57% | 115.8 | 15.3 | 5.4 | 2.33% | 0.11% |
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 VLU valuation
Adding up its 1,413 holdings with company data, VLU trades at 21.7 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 2.71 and a dividend yield of 1.83%. Its earnings yield of 4.62% is 0.71 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 19.0% of the fund and earn 21.0% of its combined profit. By sector, Basic Materials is the most expensive at 120.4 times earnings and Financial Services the cheapest at 13.4. Companies that lost money over the past year are 4.7% 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 99.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VLU chart, VLU performance, VLU holdings, VLU dividends.
VLU valuation FAQ
What is the P/E ratio of VLU?
Based on its holdings, VLU has a trailing P/E of 21.7 and a forward P/E of 14.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VLU?
The trailing earnings yield is 4.62% (1 ÷ P/E) and the forward earnings yield 7.03%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VLU more expensive than the S&P 500?
VLU trades at 21.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.2 and 19.9.
What is the price-to-book ratio of VLU?
The holdings of VLU trade at 2.71 times book value, with a combined return on equity of 12.5%.
Which sector in VLU has the highest P/E?
Basic Materials has the highest P/E at 120.4 and Financial Services the lowest at 13.4.