iShares S&P 500 ex S&P 100 ETF (XOEF) Valuation
XOEF valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.4 trailing earnings
- Forward P/E
- 17.2 analyst estimates
- Price / sales
- 2.06
- Price / book
- 3.70
- EV / EBITDA
- 14.6
- Earnings yield
- 3.93% inverse of P/E
- Dividend yield
- 1.46% of the holdings
- Return on equity
- 14.5% combined
- Net margin
- 8.1% combined
- Beta
- 1.01 weighted, vs S&P 500
XOEF valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XOEF | 25.4 | 17.2 | 2.06 | 3.70 | 1.46% | 14.5% | 8.1% | 3.5% |
| 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.
XOEF valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 20.1% | 37.9 | 23.4 | 4.90 | 6.68 | 0.63% | 17.7% |
| Industrials | 16.0% | 28.0 | 20.7 | 2.84 | 5.76 | 1.04% | 20.6% |
| Financial Services | 15.3% | 15.7 | 13.1 | 2.54 | 2.40 | 1.82% | 15.3% |
| Healthcare | 11.0% | 31.9 | 16.6 | 0.85 | 3.65 | 0.62% | 11.4% |
| Consumer Cyclical | 9.1% | 28.4 | 17.2 | 1.71 | 5.54 | 1.38% | 19.5% |
| Energy | 6.3% | 17.5 | 11.2 | 1.59 | 2.75 | 2.07% | 15.7% |
| Real Estate | 6.1% | 35.1 | 33.2 | 6.27 | 2.96 | 3.35% | 8.4% |
| Utilities | 5.5% | 19.1 | 15.0 | 2.46 | 2.00 | 2.91% | 10.4% |
| Basic Materials | 4.5% | 28.5 | 15.3 | 2.32 | 3.31 | 1.45% | 11.6% |
| Consumer Defensive | 4.2% | 29.1 | 15.5 | 0.92 | 3.40 | 2.80% | 11.7% |
| Communication Services | 1.5% | 31.3 | 12.4 | 1.91 | 3.97 | 0.60% | 12.7% |
XOEF 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 XOEF weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XOEF largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CRWD | CrowdStrike Holdings, Inc. | 1.45% | — | 208.3 | 43.1 | — | 0.01% |
| MRVL | Marvell Technology, Inc. | 1.14% | 72.3 | 62.1 | 21.7 | 0.11% | 0.40% |
| KLAC | KLA Corporation | 1.12% | 45.3 | 34.8 | 15.9 | 0.56% | 0.63% |
| ADI | Analog Devices, Inc. | 1.10% | 47.0 | 23.2 | 13.8 | 1.11% | 0.60% |
| APH | Amphenol Corporation | 1.01% | 39.7 | 24.6 | 6.7 | 0.63% | 0.65% |
| WELL | Welltower Inc. | 1.00% | 105.3 | 78.1 | 13.3 | 1.45% | 0.24% |
| TJX | The TJX Companies, Inc. | 0.90% | 27.3 | 24.9 | 2.6 | 1.30% | 0.84% |
| STX | Seagate Technology Holdings plc | 0.87% | 46.0 | 25.7 | 11.9 | 0.46% | 0.48% |
| ETN | Eaton Corporation plc | 0.80% | 39.8 | 27.6 | 5.1 | 1.12% | 0.51% |
| VRTX | Vertex Pharmaceuticals Incorporated | 0.80% | 28.9 | 24.1 | 10.1 | — | 0.71% |
| SPGI | S&P Global Inc. | 0.79% | 26.1 | 19.9 | 7.9 | 0.90% | 0.77% |
| PGR | The Progressive Corporation | 0.77% | 11.0 | 12.7 | 1.4 | 0.18% | 1.80% |
| WDC | Western Digital Corporation | 0.76% | 12.3 | 22.8 | 9.6 | 0.18% | 1.58% |
| MPC | Marathon Petroleum Corporation | 0.75% | 16.6 | 5.5 | 0.9 | 0.84% | 1.16% |
| CB | Chubb Limited | 0.70% | 12.7 | 11.6 | 2.2 | 1.13% | 1.41% |
| ADP | Automatic Data Processing, Inc. | 0.70% | 26.4 | 22.0 | 5.2 | 2.35% | 0.68% |
| MCK | McKesson Corporation | 0.70% | 26.9 | 19.7 | 0.3 | 0.37% | 0.66% |
| VLO | Valero Energy Corporation | 0.67% | 18.5 | 10.2 | 1.0 | 1.08% | 0.93% |
| PLD | Prologis, Inc. | 0.67% | 27.7 | 29.2 | 12.4 | 3.40% | 0.62% |
| NEM | Newmont Corporation | 0.67% | 15.0 | 11.6 | 4.8 | 0.88% | 1.14% |
| PSX | Phillips 66 | 0.66% | 16.8 | 9.7 | 0.8 | 1.81% | 1.01% |
| PH | Parker-Hannifin Corporation | 0.65% | 33.8 | 27.5 | 5.7 | 0.83% | 0.49% |
| SYK | Stryker Corporation | 0.62% | 30.5 | 16.5 | 4.4 | 1.19% | 0.52% |
| CME | CME Group Inc. | 0.61% | 24.9 | 21.9 | 15.6 | 1.77% | 0.63% |
| FTNT | Fortinet, Inc. | 0.60% | 59.8 | 45.0 | 16.5 | — | 0.26% |
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 XOEF valuation
Adding up its 402 holdings with company data, XOEF trades at 25.4 times trailing earnings and 17.2 times analysts' forward estimates, with a price-to-book ratio of 3.70 and a dividend yield of 1.46%. 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 10.2% of the fund and earn 5.1% of its combined profit. By sector, Technology is the most expensive at 37.9 times earnings and Financial Services the cheapest at 15.7. Companies that lost money over the past year are 3.5% 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.
Related: XOEF chart, XOEF performance, XOEF holdings, XOEF dividends.
XOEF valuation FAQ
What is the P/E ratio of XOEF?
Based on its holdings, XOEF has a trailing P/E of 25.4 and a forward P/E of 17.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XOEF?
The trailing earnings yield is 3.93% (1 ÷ P/E) and the forward earnings yield 5.81%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XOEF more expensive than the S&P 500?
XOEF trades at 25.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.2 and 19.9.
What is the price-to-book ratio of XOEF?
The holdings of XOEF trade at 3.70 times book value, with a combined return on equity of 14.5%.
Which sector in XOEF has the highest P/E?
Technology has the highest P/E at 37.9 and Financial Services the lowest at 15.7.