WarCap Unconstrained Equity ETF (WCAP) Valuation
WCAP valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.3 trailing earnings
- Forward P/E
- 23.5 analyst estimates
- Price / sales
- 5.23
- Price / book
- 6.67
- EV / EBITDA
- 21.0
- Earnings yield
- 3.66% inverse of P/E
- Dividend yield
- 0.90% of the holdings
- Return on equity
- 24.4% combined
- Net margin
- 19.2% combined
- Beta
- 1.15 weighted, vs S&P 500
WCAP valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| WCAP | 27.3 | 23.5 | 5.23 | 6.67 | 0.90% | 24.4% | 19.2% | 2.4% |
| 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.
WCAP valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 26.7% | 40.7 | 29.9 | 13.88 | 16.44 | 0.51% | 40.3% |
| Financial Services | 22.9% | 17.7 | 17.0 | 4.58 | 2.91 | 1.36% | 16.5% |
| Consumer Cyclical | 12.8% | 34.3 | 33.5 | 5.88 | 8.98 | 0.17% | 26.2% |
| Communication Services | 9.5% | 24.8 | 28.9 | 4.19 | 9.49 | 0.16% | 38.2% |
| Healthcare | 8.6% | 37.0 | 19.6 | 7.32 | 13.62 | 1.83% | 36.8% |
| Industrials | 5.8% | 21.8 | 17.6 | 2.70 | 10.07 | 2.28% | 46.1% |
| Consumer Defensive | 3.5% | 47.6 | 40.3 | 1.45 | 11.97 | 0.59% | 25.1% |
WCAP 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 WCAP weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
WCAP largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| IVV | iShares Trust - iShares Core S&P 500 ETF | 9.96% | — | — | — | — | — |
| AAPL | Apple Inc. | 6.68% | 39.4 | 35.2 | 10.7 | 0.31% | 5.25% |
| GOOGL | Alphabet Inc. | 5.97% | 17.1 | 22.8 | 9.3 | 0.26% | 10.81% |
| MSFT | Microsoft Corporation | 5.07% | 29.5 | 25.1 | 11.8 | 0.74% | 5.32% |
| AMZN | Amazon.com, Inc. | 5.03% | 20.1 | 23.6 | 3.5 | — | 7.74% |
| BNY | The Bank of New York Mellon Corporation | 4.79% | 15.9 | 15.0 | 4.4 | 1.55% | 9.34% |
| NVDA | NVIDIA Corporation | 4.08% | 27.1 | 24.9 | 17.1 | 0.47% | 4.66% |
| COST | Costco Wholesale Corporation | 3.55% | 47.6 | 40.3 | 1.4 | 0.59% | 2.30% |
| TSLA | Tesla, Inc. | 3.53% | 328.4 | 158.7 | 13.5 | — | 0.33% |
| AVGO | Broadcom Inc. | 3.34% | 43.3 | 19.4 | 17.6 | 0.79% | 2.39% |
| PLTR | Palantir Technologies Inc. | 3.23% | 160.4 | 85.5 | 72.6 | — | 0.62% |
| JNJ | Johnson & Johnson | 3.18% | 38.8 | 21.0 | 6.2 | 2.10% | 2.53% |
| BLK | BlackRock, Inc. | 3.03% | 25.8 | 16.4 | 6.5 | 2.02% | 3.62% |
| UNP | Union Pacific Corporation | 2.98% | 23.4 | 19.3 | 6.8 | 1.97% | 3.93% |
| LMT | Lockheed Martin Corporation | 2.85% | 20.3 | 16.2 | 1.7 | 2.61% | 4.33% |
| JPM | JPMorgan Chase & Co. | 2.82% | 14.2 | 13.5 | 4.7 | 1.94% | 6.12% |
| BRK.B | Berkshire Hathaway Inc. | 2.67% | 13.4 | 22.7 | 3.0 | — | 6.17% |
| MAR | Marriott International, Inc. | 2.59% | 40.1 | 26.5 | 13.7 | 0.75% | 2.00% |
| HOOD | Robinhood Markets, Inc. | 2.46% | 43.6 | 45.0 | 18.0 | — | 1.75% |
| AMGN | Amgen Inc. | 2.44% | 26.9 | 16.7 | 6.1 | 2.33% | 2.81% |
| PANW | Palo Alto Networks, Inc. | 2.27% | 855.0 | 94.3 | 24.4 | — | 0.08% |
| AXP | American Express Company | 2.20% | 19.0 | 15.1 | 3.0 | 1.21% | 3.57% |
| GS | The Goldman Sachs Group, Inc. | 2.12% | 12.7 | 12.8 | 3.6 | 2.27% | 5.16% |
| LYV | Live Nation Entertainment, Inc. | 2.10% | — | 119.0 | 1.5 | — | −0.42% |
| CSCO | Cisco Systems, Inc. | 2.08% | 32.2 | 19.8 | 6.7 | 1.56% | 2.00% |
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 WCAP valuation
Adding up its 29 holdings with company data, WCAP trades at 27.3 times trailing earnings and 23.5 times analysts' forward estimates, with a price-to-book ratio of 6.67 and a dividend yield of 0.90%. Its earnings yield of 3.66% is 1.66 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 52.0% of the fund and earn 48.8% of its combined profit. By sector, Consumer Defensive is the most expensive at 47.6 times earnings and Financial Services the cheapest at 17.7. Companies that lost money over the past year are 2.4% 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 88.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: WCAP chart, WCAP performance, WCAP holdings, WCAP dividends.
WCAP valuation FAQ
What is the P/E ratio of WCAP?
Based on its holdings, WCAP has a trailing P/E of 27.3 and a forward P/E of 23.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of WCAP?
The trailing earnings yield is 3.66% (1 ÷ P/E) and the forward earnings yield 4.26%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is WCAP more expensive than the S&P 500?
WCAP trades at 27.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.5 and 19.9.
What is the price-to-book ratio of WCAP?
The holdings of WCAP trade at 6.67 times book value, with a combined return on equity of 24.4%.
Which sector in WCAP has the highest P/E?
Consumer Defensive has the highest P/E at 47.6 and Financial Services the lowest at 17.7.