Vanguard Russell 1000 ETF (VONE) Valuation

NASDAQ: VONEP/E, earnings yield and other ratios of the holdings combined.

VONE valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 26.8
Forward P/E: 19.6
Price / sales: 3.51
Price / book: 5.26
EV / EBITDA: 17.3
Earnings yield: 3.73%
Dividend yield: 1.07%
Return on equity: 19.6%
Net margin: 13.1%
Beta: 1.18

VONE valuation vs other stock ETFs

P/E (TTM)Forward P/E

VONE valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
VONE	26.8	19.6	3.51	5.26	1.07%	19.6%	13.1%	3.7%
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.

VONE valuation by sector

P/E (TTM)Forward P/E

VONE valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	38.0%	35.0	22.9	8.54	12.05	0.51%	34.5%
Financial Services	11.2%	15.8	14.2	3.25	2.29	1.55%	14.4%
Healthcare	9.4%	40.1	17.7	1.91	5.30	1.39%	13.2%
Communication Services	9.3%	18.6	18.9	4.82	4.89	0.70%	26.3%
Consumer Cyclical	8.8%	27.4	22.3	2.36	5.94	0.73%	21.7%
Industrials	8.0%	30.1	21.8	2.54	6.02	1.08%	20.0%
Consumer Defensive	4.3%	29.5	20.7	1.54	6.41	2.34%	21.7%
Energy	3.4%	19.7	12.8	1.88	2.54	2.22%	12.9%
Real Estate	1.9%	32.8	29.4	5.61	2.76	3.68%	8.4%
Utilities	1.8%	20.4	15.3	2.75	2.10	2.99%	10.3%
Basic Materials	1.8%	26.1	16.5	2.57	3.49	1.65%	13.4%

VONE earnings yield vs bond yields

VONE earnings yield (forward)

5.10%

VONE earnings yield (trailing)

3.73%

VONE dividend yield

1.07%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 VONE weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

VONE largest holdings: valuation

VONE largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
NVDA	NVIDIA Corporation	7.18%	27.1	24.9	17.1	0.47%	7.30%
AAPL	Apple Inc.	6.88%	39.4	35.2	10.7	0.31%	4.81%
MSFT	Microsoft Corporation	5.14%	29.5	25.1	11.8	0.74%	4.80%
AMZN	Amazon.com, Inc.	3.41%	20.1	23.6	3.5	—	4.67%
GOOGL	Alphabet Inc.	2.71%	17.1	22.8	9.3	0.26%	4.37%
AVGO	Broadcom Inc.	2.37%	43.3	19.4	17.6	0.79%	1.51%
GOOG	Alphabet Inc.	2.19%	16.9	21.8	9.2	0.26%	3.56%
META	Meta Platforms, Inc.	2.18%	26.7	22.1	7.9	0.30%	2.25%
MU	Micron Technology, Inc.	1.74%	11.8	7.0	7.5	0.07%	4.06%
TSLA	Tesla, Inc.	1.51%	328.4	158.7	13.5	—	0.13%
AMD	Advanced Micro Devices, Inc.	1.42%	134.9	39.5	20.9	—	0.29%
BRK.B	Berkshire Hathaway Inc.	1.35%	13.4	22.7	3.0	—	2.77%
LLY	Eli Lilly and Company	1.32%	42.2	24.4	14.1	0.55%	0.86%
JPM	JPMorgan Chase & Co.	1.21%	14.2	13.5	4.7	1.94%	2.34%
XOM	Exxon Mobil Corporation	0.98%	23.0	14.8	2.0	2.30%	1.17%
JNJ	Johnson & Johnson	0.93%	38.8	21.0	6.2	2.10%	0.66%
V	Visa Inc.	0.86%	34.3	24.0	17.0	0.67%	0.69%
INTC	Intel Corporation	0.82%	—	63.3	8.3	—	−0.53%
ABBV	AbbVie Inc.	0.66%	80.6	16.4	7.8	2.42%	0.22%
WMT	Walmart Inc.	0.62%	43.0	38.0	1.3	0.83%	0.40%
MA	Mastercard Incorporated	0.61%	34.0	24.2	15.4	0.56%	0.50%
CSCO	Cisco Systems, Inc.	0.61%	32.2	19.8	6.7	1.56%	0.52%
COST	Costco Wholesale Corporation	0.58%	47.6	40.3	1.4	0.59%	0.34%
PLTR	Palantir Technologies Inc.	0.57%	160.4	85.5	72.6	—	0.10%
LRCX	Lam Research Corporation	0.57%	45.8	33.7	14.2	0.50%	0.34%

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 VONE valuation

Adding up its 993 holdings with company data, VONE trades at 26.8 times trailing earnings and 19.6 times analysts' forward estimates, with a price-to-book ratio of 5.26 and a dividend yield of 1.07%. Its earnings yield of 3.73% is 1.60 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 35.3% of the fund and earn 37.4% of its combined profit. By sector, Healthcare is the most expensive at 40.1 times earnings and Financial Services the cheapest at 15.8. Companies that lost money over the past year are 3.7% 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 99.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

VONE valuation FAQ

What is the P/E ratio of VONE?

Based on its holdings, VONE has a trailing P/E of 26.8 and a forward P/E of 19.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of VONE?

The trailing earnings yield is 3.73% (1 ÷ P/E) and the forward earnings yield 5.10%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is VONE more expensive than the S&P 500?

VONE trades at 26.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.6 and 19.9.

What is the price-to-book ratio of VONE?

The holdings of VONE trade at 5.26 times book value, with a combined return on equity of 19.6%.

Which sector in VONE has the highest P/E?

Healthcare has the highest P/E at 40.1 and Financial Services the lowest at 15.8.