Applied Finance Valuation Large Cap ETF (VSLU) Valuation
VSLU valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.4 trailing earnings
- Forward P/E
- 19.4 analyst estimates
- Price / sales
- 3.73
- Price / book
- 7.91
- EV / EBITDA
- 16.9
- Earnings yield
- 3.93% inverse of P/E
- Dividend yield
- 1.03% of the holdings
- Return on equity
- 31.1% combined
- Net margin
- 14.7% combined
- Beta
- 1.07 weighted, vs S&P 500
VSLU valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VSLU | 25.4 | 19.4 | 3.73 | 7.91 | 1.03% | 31.1% | 14.7% | 0.7% |
| 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.
VSLU valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 40.7% | 29.4 | 23.3 | 7.86 | 12.37 | 0.64% | 42.1% |
| Healthcare | 12.8% | 34.3 | 17.1 | 2.27 | 7.73 | 1.52% | 22.5% |
| Communication Services | 12.4% | 19.2 | 19.9 | 5.88 | 5.97 | 0.56% | 31.2% |
| Financial Services | 11.0% | 21.1 | 17.8 | 4.76 | 6.92 | 0.88% | 32.9% |
| Consumer Cyclical | 9.5% | 23.8 | 15.3 | 1.77 | 7.56 | 1.43% | 31.7% |
| Industrials | 5.8% | 25.0 | 19.7 | 2.58 | 6.26 | 1.27% | 25.0% |
| Consumer Defensive | 3.6% | 23.1 | 17.0 | 1.51 | 8.10 | 2.99% | 35.0% |
| Energy | 2.2% | 18.6 | 13.3 | 2.42 | 2.29 | 2.31% | 12.3% |
| Basic Materials | 0.9% | 19.4 | 15.4 | 2.51 | 4.59 | 1.72% | 23.6% |
| Utilities | 0.8% | 23.0 | 14.7 | 2.40 | 3.58 | 1.14% | 15.5% |
| Real Estate | 0.6% | 20.6 | 26.1 | 7.69 | 7.16 | 4.10% | 34.7% |
VSLU 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 VSLU weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VSLU largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 10.47% | 39.4 | 35.2 | 10.7 | 0.31% | 6.75% |
| NVDA | NVIDIA Corporation | 9.56% | 27.1 | 24.9 | 17.1 | 0.47% | 8.96% |
| MSFT | Microsoft Corporation | 8.65% | 29.5 | 25.1 | 11.8 | 0.74% | 7.45% |
| GOOGL | Alphabet Inc. | 6.03% | 17.1 | 22.8 | 9.3 | 0.26% | 8.96% |
| META | Meta Platforms, Inc. | 4.75% | 26.7 | 22.1 | 7.9 | 0.30% | 4.51% |
| V | Visa Inc. | 3.62% | 34.3 | 24.0 | 17.0 | 0.67% | 2.68% |
| LLY | Eli Lilly and Company | 3.17% | 42.2 | 24.4 | 14.1 | 0.55% | 1.90% |
| AVGO | Broadcom Inc. | 2.75% | 43.3 | 19.4 | 17.6 | 0.79% | 1.61% |
| MA | Mastercard Incorporated | 2.68% | 34.0 | 24.2 | 15.4 | 0.56% | 2.00% |
| MRK | Merck & Co., Inc. | 1.59% | 115.8 | 15.3 | 5.4 | 2.33% | 0.35% |
| JNJ | Johnson & Johnson | 1.22% | 38.8 | 21.0 | 6.2 | 2.10% | 0.80% |
| ABBV | AbbVie Inc. | 1.04% | 80.6 | 16.4 | 7.8 | 2.42% | 0.33% |
| BKNG | Booking Holdings Inc. | 0.97% | 18.1 | 13.3 | 4.3 | 1.03% | 1.36% |
| MAR | Marriott International, Inc. | 0.86% | 40.1 | 26.5 | 13.7 | 0.75% | 0.54% |
| LRCX | Lam Research Corporation | 0.83% | 45.8 | 33.7 | 14.2 | 0.50% | 0.46% |
| HD | The Home Depot, Inc. | 0.79% | 21.5 | 19.8 | 1.8 | 3.01% | 0.93% |
| SNDK | Sandisk Corporation | 0.77% | 17.6 | 8.0 | 9.3 | — | 1.11% |
| PM | Philip Morris International Inc. | 0.76% | 29.5 | 20.9 | 7.5 | 3.12% | 0.66% |
| HLT | Hilton Worldwide Holdings Inc. | 0.69% | 50.6 | 28.7 | 15.2 | 0.17% | 0.35% |
| KLAC | KLA Corporation | 0.69% | 45.3 | 34.8 | 15.9 | 0.56% | 0.39% |
| CSCO | Cisco Systems, Inc. | 0.67% | 32.2 | 19.8 | 6.7 | 1.56% | 0.53% |
| AMGN | Amgen Inc. | 0.66% | 26.9 | 16.7 | 6.1 | 2.33% | 0.63% |
| MCD | McDonald's Corporation | 0.60% | 19.7 | 17.1 | 6.2 | 3.18% | 0.78% |
| ACN | Accenture plc | 0.59% | 16.9 | 12.4 | 1.9 | 2.98% | 0.89% |
| KO | The Coca-Cola Company | 0.58% | 28.2 | 25.3 | 8.1 | 2.26% | 0.53% |
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 VSLU valuation
Adding up its 436 holdings with company data, VSLU trades at 25.4 times trailing earnings and 19.4 times analysts' forward estimates, with a price-to-book ratio of 7.91 and a dividend yield of 1.03%. Its earnings yield of 3.93% is 1.40 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 53.3% of the fund and earn 45.2% of its combined profit. By sector, Healthcare is the most expensive at 34.3 times earnings and Energy the cheapest at 18.6. Companies that lost money over the past year are 0.7% 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 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VSLU chart, VSLU performance, VSLU holdings, VSLU dividends.
VSLU valuation FAQ
What is the P/E ratio of VSLU?
Based on its holdings, VSLU has a trailing P/E of 25.4 and a forward P/E of 19.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VSLU?
The trailing earnings yield is 3.93% (1 ÷ P/E) and the forward earnings yield 5.15%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VSLU more expensive than the S&P 500?
VSLU trades at 25.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.4 and 19.9.
What is the price-to-book ratio of VSLU?
The holdings of VSLU trade at 7.91 times book value, with a combined return on equity of 31.1%.
Which sector in VSLU has the highest P/E?
Healthcare has the highest P/E at 34.3 and Energy the lowest at 18.6.