TCW Transform 500 ETF (VOTE) Valuation
VOTE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.5 trailing earnings
- Forward P/E
- 20.0 analyst estimates
- Price / sales
- 3.66
- Price / book
- 5.47
- EV / EBITDA
- 17.2
- Earnings yield
- 3.77% inverse of P/E
- Dividend yield
- 1.07% of the holdings
- Return on equity
- 20.6% combined
- Net margin
- 13.8% combined
- Beta
- 1.15 weighted, vs S&P 500
VOTE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VOTE | 26.5 | 20.0 | 3.66 | 5.47 | 1.07% | 20.6% | 13.8% | 2.6% |
| 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.
VOTE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 38.8% | 34.7 | 23.4 | 9.22 | 12.30 | 0.55% | 35.5% |
| Financial Services | 11.9% | 15.9 | 14.7 | 3.47 | 2.37 | 1.46% | 14.9% |
| Healthcare | 9.9% | 38.3 | 17.8 | 1.77 | 5.42 | 1.48% | 14.1% |
| Consumer Cyclical | 9.3% | 28.1 | 23.7 | 2.74 | 6.54 | 0.70% | 23.3% |
| Communication Services | 9.2% | 18.1 | 19.0 | 4.89 | 5.01 | 0.70% | 27.7% |
| Industrials | 7.0% | 28.5 | 22.0 | 2.80 | 6.50 | 1.17% | 22.9% |
| Consumer Defensive | 4.7% | 29.6 | 21.8 | 1.68 | 7.08 | 2.28% | 23.9% |
| Energy | 3.7% | 20.0 | 13.0 | 1.89 | 2.60 | 2.23% | 13.0% |
| Utilities | 1.9% | 19.5 | 15.6 | 2.81 | 2.08 | 3.00% | 10.6% |
| Basic Materials | 1.6% | 29.1 | 16.9 | 2.92 | 3.74 | 1.40% | 12.8% |
| Real Estate | 1.6% | 34.7 | 32.0 | 6.54 | 3.34 | 3.25% | 9.6% |
VOTE 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 VOTE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VOTE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 7.71% | 39.4 | 35.2 | 10.7 | 0.31% | 5.22% |
| NVDA | NVIDIA Corporation | 7.25% | 27.1 | 24.9 | 17.1 | 0.47% | 7.14% |
| MSFT | Microsoft Corporation | 6.16% | 29.5 | 25.1 | 11.8 | 0.74% | 5.58% |
| AMZN | Amazon.com, Inc. | 3.83% | 20.1 | 23.6 | 3.5 | — | 5.08% |
| GOOGL | Alphabet Inc. | 2.90% | 17.1 | 22.8 | 9.3 | 0.26% | 4.53% |
| GOOG | Alphabet Inc. | 2.35% | 16.9 | 21.8 | 9.2 | 0.26% | 3.70% |
| AVGO | Broadcom Inc. | 2.32% | 43.3 | 19.4 | 17.6 | 0.79% | 1.43% |
| META | Meta Platforms, Inc. | 2.09% | 26.7 | 22.1 | 7.9 | 0.30% | 2.09% |
| TSLA | Tesla, Inc. | 1.67% | 328.4 | 158.7 | 13.5 | — | 0.14% |
| BRK.B | Berkshire Hathaway Inc. | 1.57% | 13.4 | 22.7 | 3.0 | — | 3.14% |
| LLY | Eli Lilly and Company | 1.50% | 42.2 | 24.4 | 14.1 | 0.55% | 0.95% |
| MU | Micron Technology, Inc. | 1.46% | 11.8 | 7.0 | 7.5 | 0.07% | 3.30% |
| JPM | JPMorgan Chase & Co. | 1.34% | 14.2 | 13.5 | 4.7 | 1.94% | 2.51% |
| AMD | Advanced Micro Devices, Inc. | 1.21% | 134.9 | 39.5 | 20.9 | — | 0.24% |
| XOM | Exxon Mobil Corporation | 1.12% | 23.0 | 14.8 | 2.0 | 2.30% | 1.30% |
| V | Visa Inc. | 1.08% | 34.3 | 24.0 | 17.0 | 0.67% | 0.84% |
| JNJ | Johnson & Johnson | 1.00% | 38.8 | 21.0 | 6.2 | 2.10% | 0.69% |
| WMT | Walmart Inc. | 0.81% | 43.0 | 38.0 | 1.3 | 0.83% | 0.50% |
| MA | Mastercard Incorporated | 0.80% | 34.0 | 24.2 | 15.4 | 0.56% | 0.63% |
| ABBV | AbbVie Inc. | 0.75% | 80.6 | 16.4 | 7.8 | 2.42% | 0.25% |
| COST | Costco Wholesale Corporation | 0.71% | 47.6 | 40.3 | 1.4 | 0.59% | 0.40% |
| PLTR | Palantir Technologies Inc. | 0.67% | 160.4 | 85.5 | 72.6 | — | 0.11% |
| CSCO | Cisco Systems, Inc. | 0.66% | 32.2 | 19.8 | 6.7 | 1.56% | 0.55% |
| CVX | Chevron Corporation | 0.63% | 21.2 | 15.2 | 2.1 | 3.16% | 0.80% |
| INTC | Intel Corporation | 0.62% | — | 63.3 | 8.3 | — | −0.39% |
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 VOTE valuation
Adding up its 498 holdings with company data, VOTE trades at 26.5 times trailing earnings and 20.0 times analysts' forward estimates, with a price-to-book ratio of 5.47 and a dividend yield of 1.07%. Its earnings yield of 3.77% is 1.56 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 37.8% of the fund and earn 38.0% of its combined profit. By sector, Healthcare is the most expensive at 38.3 times earnings and Financial Services the cheapest at 15.9. Companies that lost money over the past year are 2.6% 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 99.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VOTE chart, VOTE performance, VOTE holdings, VOTE dividends.
VOTE valuation FAQ
What is the P/E ratio of VOTE?
Based on its holdings, VOTE has a trailing P/E of 26.5 and a forward P/E of 20.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VOTE?
The trailing earnings yield is 3.77% (1 ÷ P/E) and the forward earnings yield 5.00%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VOTE more expensive than the S&P 500?
VOTE trades at 26.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.0 and 19.9.
What is the price-to-book ratio of VOTE?
The holdings of VOTE trade at 5.47 times book value, with a combined return on equity of 20.6%.
Which sector in VOTE has the highest P/E?
Healthcare has the highest P/E at 38.3 and Financial Services the lowest at 15.9.