Vanguard Communication Services ETF (VOX) Valuation
VOX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.6 trailing earnings
- Forward P/E
- 16.4 analyst estimates
- Price / sales
- 2.75
- Price / book
- 3.44
- EV / EBITDA
- 12.2
- Earnings yield
- 4.23% inverse of P/E
- Dividend yield
- 1.06% of the holdings
- Return on equity
- 14.6% combined
- Net margin
- 11.7% combined
- Beta
- 1.13 weighted, vs S&P 500
VOX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VOX | 23.6 | 16.4 | 2.75 | 3.44 | 1.06% | 14.6% | 11.7% | 12.1% |
| 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.
VOX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Communication Services | 93.4% | 22.6 | 15.9 | 2.70 | 3.37 | 1.10% | 14.9% |
| Industrials | 3.0% | n/m | 200.0 | 83.53 | 15.37 | 0.00% | −6.8% |
| Technology | 0.3% | n/m | 10.3 | 1.65 | 2.88 | 0.00% | −27.7% |
| Services | 0.1% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
| Real Estate | 0.1% | 3.6 | 11.9 | 0.38 | 13.77 | 0.00% | 383.7% |
| Consumer Cyclical | 0.0% | 93.2 | 6.8 | 0.60 | 1.42 | 0.00% | 1.5% |
| Healthcare | 0.0% | 18.6 | 10.2 | 1.63 | 1.57 | 11.80% | 8.5% |
VOX 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 VOX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VOX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| META | Meta Platforms, Inc. | 24.82% | 26.7 | 22.1 | 7.9 | 0.30% | 23.42% |
| GOOGL | Alphabet Inc. | 14.11% | 17.1 | 22.8 | 9.3 | 0.26% | 20.84% |
| GOOG | Alphabet Inc. | 7.35% | 16.9 | 21.8 | 9.2 | 0.26% | 10.96% |
| T | AT&T Inc. | 4.17% | 7.7 | 9.9 | 1.3 | 4.74% | 13.60% |
| DIS | The Walt Disney Company | 4.07% | 22.8 | 13.8 | 1.9 | 1.36% | 4.51% |
| VZ | Verizon Communications Inc. | 3.90% | 11.7 | 8.7 | 1.3 | 6.32% | 8.44% |
| NFLX | Netflix, Inc. | 3.79% | 22.2 | 18.7 | 6.1 | — | 4.31% |
| SPCX | Space Exploration Technologies Corp. | 2.97% | — | 200.0 | 83.5 | — | −0.33% |
| WBD | Warner Bros Discovery Inc | 2.80% | — | — | — | — | — |
| TMUS | T-Mobile US, Inc. | 2.50% | 16.6 | 11.7 | 1.9 | 2.94% | 3.79% |
| CMCSA | Comcast Corporation | 2.37% | 7.1 | 5.9 | 0.6 | 6.03% | 8.47% |
| APP | AppLovin Corporation | 2.22% | 20.5 | 15.4 | 13.1 | — | 2.73% |
| TTWO | Take-Two Interactive Software, Inc. | 1.85% | — | 28.2 | 5.7 | — | −0.39% |
| RBLX | Roblox Corporation | 1.56% | — | 192.3 | 6.2 | — | −1.06% |
| LYV | Live Nation Entertainment, Inc. | 1.52% | — | 119.0 | 1.5 | — | −0.25% |
| OMC | Omnicom Group Inc. | 1.23% | 212.0 | 7.4 | 1.0 | 3.97% | 0.15% |
| ROKU | Roku, Inc | 1.16% | 65.8 | 39.1 | 4.4 | — | 0.44% |
| FWONK | Liberty Media Corporation - Formula One Group | 1.13% | 110.7 | 48.1 | 5.7 | — | 0.26% |
| RDDT | Reddit, Inc. | 0.97% | 36.3 | 23.2 | 10.8 | — | 0.67% |
| NPA | New Providence Acquisition Corp | 0.82% | — | — | — | — | — |
| ECHO | EchoStar Corporation | 0.71% | — | 4.7 | 1.7 | — | −2.85% |
| CHTR | Charter Communications, Inc. | 0.68% | 2.9 | 2.5 | 0.3 | — | 5.94% |
| TKO | TKO Group Holdings, Inc. | 0.64% | 61.4 | 48.8 | 6.3 | 1.80% | 0.26% |
| NWSA | News Corporation | 0.60% | 29.2 | 22.0 | 1.8 | 0.67% | 0.52% |
| NYT | The New York Times Company | 0.54% | 28.2 | 21.1 | 3.7 | 1.36% | 0.48% |
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 VOX valuation
Adding up its 100 holdings with company data, VOX trades at 23.6 times trailing earnings and 16.4 times analysts' forward estimates, with a price-to-book ratio of 3.44 and a dividend yield of 1.06%. Its earnings yield of 4.23% is 1.10 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 70.5% of the fund and earn 98.0% of its combined profit. By sector, Consumer Cyclical is the most expensive at 93.2 times earnings and Real Estate the cheapest at 3.6. Companies that lost money over the past year are 12.1% 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 95.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VOX chart, VOX performance, VOX holdings, VOX dividends.
VOX valuation FAQ
What is the P/E ratio of VOX?
Based on its holdings, VOX has a trailing P/E of 23.6 and a forward P/E of 16.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VOX?
The trailing earnings yield is 4.23% (1 ÷ P/E) and the forward earnings yield 6.11%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VOX more expensive than the S&P 500?
VOX trades at 23.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.4 and 19.9.
What is the price-to-book ratio of VOX?
The holdings of VOX trade at 3.44 times book value, with a combined return on equity of 14.6%.
Which sector in VOX has the highest P/E?
Consumer Cyclical has the highest P/E at 93.2 and Real Estate the lowest at 3.6.