SPDR S&P Homebuilders ETF (XHB) Valuation
XHB valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.2 trailing earnings
- Forward P/E
- 15.7 analyst estimates
- Price / sales
- 1.17
- Price / book
- 2.46
- EV / EBITDA
- 13.9
- Earnings yield
- 4.96% inverse of P/E
- Dividend yield
- 1.15% of the holdings
- Return on equity
- 12.2% combined
- Net margin
- 5.8% combined
- Beta
- 1.34 weighted, vs S&P 500
XHB valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XHB | 20.2 | 15.7 | 1.17 | 2.46 | 1.15% | 12.2% | 5.8% | 7.0% |
| 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.
XHB valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Consumer Cyclical | 63.1% | 17.4 | 15.6 | 1.05 | 2.03 | 1.04% | 11.6% |
| Industrials | 32.9% | 29.8 | 15.7 | 1.56 | 4.83 | 1.33% | 16.2% |
| Basic Materials | 3.4% | 19.3 | 17.6 | 2.99 | 3.37 | 0.68% | 17.5% |
| Real Estate | 1.7% | 12.0 | 18.7 | 0.39 | 0.68 | 2.29% | 5.7% |
XHB 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 XHB weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XHB largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| W | Wayfair Inc. | 3.82% | — | 25.8 | 1.1 | — | −1.53% |
| SN | SharkNinja, Inc. | 3.74% | 38.1 | 23.1 | 3.8 | — | 2.03% |
| ALLE | Allegion plc | 3.73% | 20.5 | 15.9 | 3.1 | 1.41% | 3.75% |
| MAS | Masco Corporation | 3.70% | 16.8 | 14.7 | 1.9 | 1.76% | 4.54% |
| WSM | Williams-Sonoma, Inc. | 3.60% | 25.7 | 24.6 | 3.7 | 1.22% | 2.89% |
| TOL | Toll Brothers, Inc. | 3.53% | 10.8 | 10.0 | 1.1 | 0.78% | 6.76% |
| CSL | Carlisle Companies Incorporated | 3.53% | 19.0 | 13.5 | 2.6 | 1.50% | 3.84% |
| LEN | Lennar Corporation | 3.53% | 14.6 | 15.7 | 0.6 | 2.59% | 4.99% |
| PHM | PulteGroup, Inc. | 3.41% | 11.6 | 11.2 | 1.3 | 0.92% | 6.06% |
| SSD | Simpson Manufacturing Co., Inc. | 3.38% | 19.3 | 17.6 | 3.0 | 0.68% | 3.61% |
| CVCO | Cavco Industries, Inc. | 3.38% | 22.7 | 29.5 | 1.7 | — | 3.07% |
| WMS | Advanced Drainage Systems, Inc. | 3.34% | 21.8 | 20.8 | 3.0 | 0.62% | 3.15% |
| DHI | D.R. Horton, Inc. | 3.29% | 12.9 | 11.9 | 1.2 | 1.29% | 5.26% |
| HD | The Home Depot, Inc. | 3.28% | 21.5 | 19.8 | 1.8 | 3.01% | 3.14% |
| MTH | Meritage Homes Corporation | 3.28% | 12.4 | 12.5 | 0.7 | 3.24% | 5.47% |
| SKY | Skyline Champion Corporation | 3.22% | 22.7 | 23.4 | 1.6 | — | 2.93% |
| TPX | Tempur Sealy International Inc | 3.22% | — | — | — | — | — |
| TT | Trane Technologies plc | 3.20% | 34.2 | 25.2 | 4.5 | 0.92% | 1.93% |
| LII | Lennox International Inc. | 3.18% | 15.8 | 14.2 | 2.3 | 1.52% | 4.16% |
| BLDR | Builders FirstSource, Inc. | 3.17% | 59.4 | 13.9 | 0.4 | — | 1.10% |
| LOW | Lowe's Companies, Inc. | 3.17% | 16.7 | 15.6 | 1.2 | 2.53% | 3.92% |
| NVR | NVR, Inc. | 3.17% | 15.4 | 14.8 | 1.6 | — | 4.25% |
| KBH | KB Home | 3.16% | 12.2 | 11.6 | 0.5 | 2.31% | 5.34% |
| IBP | Installed Building Products, Inc. | 3.08% | 20.0 | 17.8 | 1.7 | 0.84% | 3.17% |
| JCI | Johnson Controls International plc | 3.06% | 41.1 | 23.9 | 3.5 | 1.10% | 1.54% |
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 XHB valuation
Adding up its 33 holdings with company data, XHB trades at 20.2 times trailing earnings and 15.7 times analysts' forward estimates, with a price-to-book ratio of 2.46 and a dividend yield of 1.15%. Its earnings yield of 4.96% is 0.37 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 36.0% of the fund and earn 36.9% of its combined profit. By sector, Industrials is the most expensive at 29.8 times earnings and Real Estate the cheapest at 12.0. Companies that lost money over the past year are 7.0% 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 96.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XHB chart, XHB performance, XHB holdings, XHB dividends.
XHB valuation FAQ
What is the P/E ratio of XHB?
Based on its holdings, XHB has a trailing P/E of 20.2 and a forward P/E of 15.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XHB?
The trailing earnings yield is 4.96% (1 ÷ P/E) and the forward earnings yield 6.36%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XHB more expensive than the S&P 500?
XHB trades at 20.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.7 and 19.9.
What is the price-to-book ratio of XHB?
The holdings of XHB trade at 2.46 times book value, with a combined return on equity of 12.2%.
Which sector in XHB has the highest P/E?
Industrials has the highest P/E at 29.8 and Real Estate the lowest at 12.0.