VictoryShares US Multi-Factor Minimum Volatility (VSMV) Valuation

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

VSMV valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 21.1
Forward P/E: 15.6
Price / sales: 2.36
Price / book: 5.41
EV / EBITDA: 13.4
Earnings yield: 4.74%
Dividend yield: 1.70%
Return on equity: 25.6%
Net margin: 11.2%
Beta: 0.78

VSMV valuation vs other stock ETFs

P/E (TTM)Forward P/E

VSMV valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
VSMV	21.1	15.6	2.36	5.41	1.70%	25.6%	11.2%	0.2%
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.

VSMV valuation by sector

P/E (TTM)Forward P/E

VSMV valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	38.7%	24.8	17.3	5.75	10.50	0.78%	42.3%
Healthcare	11.3%	21.4	14.6	2.09	5.96	2.28%	27.8%
Consumer Defensive	11.3%	25.5	16.6	0.95	8.40	3.00%	32.9%
Industrials	11.1%	24.3	19.5	2.68	7.28	1.80%	29.9%
Energy	8.9%	20.9	12.6	1.99	2.31	2.32%	11.0%
Financial Services	8.5%	12.3	12.0	1.91	2.45	1.34%	19.9%
Communication Services	4.6%	14.5	10.6	1.66	2.45	4.39%	16.9%
Consumer Cyclical	4.1%	24.5	21.4	2.06	11.09	1.17%	45.3%
Basic Materials	1.4%	9.7	12.1	2.61	3.57	1.78%	36.9%
Real Estate	0.3%	16.2	22.2	2.67	2.38	3.34%	14.7%

VSMV earnings yield vs bond yields

VSMV earnings yield (forward)

6.41%

VSMV earnings yield (trailing)

4.74%

VSMV dividend yield

1.70%

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 VSMV weight splits by P/E

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

VSMV largest holdings: valuation

VSMV largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	10.64%	39.4	35.2	10.7	0.31%	5.70%
JNJ	Johnson & Johnson	3.85%	38.8	21.0	6.2	2.10%	2.10%
XOM	Exxon Mobil Corporation	3.85%	23.0	14.8	2.0	2.30%	3.53%
INTU	Intuit Inc.	3.66%	19.8	12.7	4.1	1.70%	3.91%
CRM	Salesforce, Inc.	3.45%	22.0	14.0	4.5	0.73%	3.31%
LMT	Lockheed Martin Corporation	3.37%	20.3	16.2	1.7	2.61%	3.49%
TRV	The Travelers Companies, Inc.	3.25%	10.5	10.8	1.7	1.28%	6.56%
TJX	The TJX Companies, Inc.	3.25%	27.3	24.9	2.6	1.30%	2.52%
ADBE	Adobe Inc.	3.24%	13.7	8.7	3.7	—	4.99%
TEL	TE Connectivity Ltd.	3.07%	20.8	16.6	3.2	1.47%	3.11%
BMY	Bristol-Myers Squibb Company	3.04%	13.2	9.4	2.5	4.22%	4.88%
MO	Altria Group, Inc.	2.99%	15.8	11.9	6.1	5.91%	3.99%
QCOM	QUALCOMM Incorporated	2.92%	19.9	19.6	4.2	2.14%	3.09%
COST	Costco Wholesale Corporation	2.91%	47.6	40.3	1.4	0.59%	1.29%
LRCX	Lam Research Corporation	2.82%	45.8	33.7	14.2	0.50%	1.30%
PG	The Procter & Gamble Company	2.72%	24.1	21.2	4.3	2.73%	2.38%
KLAC	KLA Corporation	2.65%	45.3	34.8	15.9	0.56%	1.23%
NTAP	NetApp, Inc.	2.56%	28.7	21.4	5.4	1.02%	1.88%
HIG	The Hartford Financial Services Group, Inc.	2.39%	9.6	9.2	1.2	1.78%	5.28%
UNP	Union Pacific Corporation	2.39%	23.4	19.3	6.8	1.97%	2.15%
VZ	Verizon Communications Inc.	2.31%	11.7	8.7	1.3	6.32%	4.18%
RSG	Republic Services, Inc.	2.27%	32.8	26.3	4.2	1.16%	1.46%
CBOE	Cboe Global Markets, Inc.	2.26%	24.6	21.9	6.5	1.09%	1.94%
SNDK	Sandisk Corporation	2.21%	17.6	8.0	9.3	—	2.64%
KR	The Kroger Co.	2.13%	35.4	11.3	0.3	2.45%	1.27%

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 VSMV valuation

Adding up its 61 holdings with company data, VSMV trades at 21.1 times trailing earnings and 15.6 times analysts' forward estimates, with a price-to-book ratio of 5.41 and a dividend yield of 1.70%. Its earnings yield of 4.74% is 0.59 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 41.6% of the fund and earn 39.2% of its combined profit. By sector, Consumer Defensive is the most expensive at 25.5 times earnings and Basic Materials the cheapest at 9.7. Companies that lost money over the past year are 0.2% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

VSMV valuation FAQ

What is the P/E ratio of VSMV?

Based on its holdings, VSMV has a trailing P/E of 21.1 and a forward P/E of 15.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of VSMV?

The trailing earnings yield is 4.74% (1 ÷ P/E) and the forward earnings yield 6.41%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is VSMV more expensive than the S&P 500?

VSMV trades at 21.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.6 and 19.9.

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

The holdings of VSMV trade at 5.41 times book value, with a combined return on equity of 25.6%.

Which sector in VSMV has the highest P/E?

Consumer Defensive has the highest P/E at 25.5 and Basic Materials the lowest at 9.7.