First Trust Expanded Technology ETF (XPND) Valuation
XPND valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 35.5 trailing earnings
- Forward P/E
- 25.5 analyst estimates
- Price / sales
- 8.66
- Price / book
- 12.61
- EV / EBITDA
- 23.9
- Earnings yield
- 2.82% inverse of P/E
- Dividend yield
- 0.55% of the holdings
- Return on equity
- 35.6% combined
- Net margin
- 24.4% combined
- Beta
- 1.35 weighted, vs S&P 500
XPND valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XPND | 35.5 | 25.5 | 8.66 | 12.61 | 0.55% | 35.6% | 24.4% | 0.0% |
| 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.
XPND valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 80.0% | 39.7 | 26.7 | 8.26 | 12.25 | 0.59% | 30.9% |
| Financial Services | 10.3% | 34.1 | 24.1 | 16.17 | 31.85 | 0.62% | 93.4% |
| Communication Services | 9.8% | 19.3 | 19.7 | 7.94 | 9.01 | 0.12% | 46.6% |
XPND 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 XPND weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XPND largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| V | Visa Inc. | 5.18% | 34.3 | 24.0 | 17.0 | 0.67% | 5.36% |
| AAPL | Apple Inc. | 5.12% | 39.4 | 35.2 | 10.7 | 0.31% | 4.61% |
| MA | Mastercard Incorporated | 5.11% | 34.0 | 24.2 | 15.4 | 0.56% | 5.33% |
| PLTR | Palantir Technologies Inc. | 5.01% | 160.4 | 85.5 | 72.6 | — | 1.11% |
| MSFT | Microsoft Corporation | 4.99% | 29.5 | 25.1 | 11.8 | 0.74% | 5.99% |
| GOOGL | Alphabet Inc. | 4.45% | 17.1 | 22.8 | 9.3 | 0.26% | 9.21% |
| PANW | Palo Alto Networks, Inc. | 4.36% | 855.0 | 94.3 | 24.4 | — | 0.18% |
| NVDA | NVIDIA Corporation | 4.29% | 27.1 | 24.9 | 17.1 | 0.47% | 5.61% |
| CSCO | Cisco Systems, Inc. | 4.28% | 32.2 | 19.8 | 6.7 | 1.56% | 4.69% |
| AVGO | Broadcom Inc. | 3.96% | 43.3 | 19.4 | 17.6 | 0.79% | 3.24% |
| NFLX | Netflix, Inc. | 3.96% | 22.2 | 18.7 | 6.1 | — | 6.32% |
| TXN | Texas Instruments Incorporated | 3.85% | 42.1 | 27.5 | 13.0 | 2.20% | 3.24% |
| AMAT | Applied Materials, Inc. | 3.75% | 35.3 | 23.4 | 10.5 | 0.52% | 3.76% |
| LRCX | Lam Research Corporation | 3.54% | 45.8 | 33.7 | 14.2 | 0.50% | 2.74% |
| ANET | Arista Networks, Inc. | 3.41% | 55.8 | 39.2 | 21.2 | — | 2.16% |
| CRM | Salesforce, Inc. | 3.23% | 22.0 | 14.0 | 4.5 | 0.73% | 5.20% |
| MRVL | Marvell Technology, Inc. | 3.11% | 72.3 | 62.1 | 21.7 | 0.11% | 1.52% |
| KLAC | KLA Corporation | 3.09% | 45.3 | 34.8 | 15.9 | 0.56% | 2.41% |
| QCOM | QUALCOMM Incorporated | 2.96% | 19.9 | 19.6 | 4.2 | 2.14% | 5.26% |
| APH | Amphenol Corporation | 2.90% | 39.7 | 24.6 | 6.7 | 0.63% | 2.59% |
| NOW | ServiceNow, Inc. | 2.60% | 88.7 | 27.8 | 10.0 | — | 1.04% |
| FTNT | Fortinet, Inc. | 1.86% | 59.8 | 45.0 | 16.5 | — | 1.10% |
| ADBE | Adobe Inc. | 1.67% | 13.7 | 8.7 | 3.7 | — | 4.32% |
| GLW | Corning Incorporated | 1.66% | 60.6 | 38.5 | 6.7 | 0.85% | 0.97% |
| DDOG | Datadog, Inc. | 1.47% | 494.2 | 84.7 | 22.4 | — | 0.11% |
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 XPND valuation
Adding up its 50 holdings with company data, XPND trades at 35.5 times trailing earnings and 25.5 times analysts' forward estimates, with a price-to-book ratio of 12.61 and a dividend yield of 0.55%. Its earnings yield of 2.82% is 2.51 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 46.7% of the fund and earn 45.3% of its combined profit. By sector, Technology is the most expensive at 39.7 times earnings and Communication Services the cheapest at 19.3. Companies that lost money over the past year are 0.0% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XPND chart, XPND performance, XPND holdings, XPND dividends.
XPND valuation FAQ
What is the P/E ratio of XPND?
Based on its holdings, XPND has a trailing P/E of 35.5 and a forward P/E of 25.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XPND?
The trailing earnings yield is 2.82% (1 ÷ P/E) and the forward earnings yield 3.92%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XPND more expensive than the S&P 500?
XPND trades at 35.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 25.5 and 19.9.
What is the price-to-book ratio of XPND?
The holdings of XPND trade at 12.61 times book value, with a combined return on equity of 35.6%.
Which sector in XPND has the highest P/E?
Technology has the highest P/E at 39.7 and Communication Services the lowest at 19.3.