SPDR S&P Retail ETF (XRT) Valuation
XRT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.0 trailing earnings
- Forward P/E
- 12.6 analyst estimates
- Price / sales
- 0.45
- Price / book
- 2.47
- EV / EBITDA
- 9.8
- Earnings yield
- 4.54% inverse of P/E
- Dividend yield
- 1.19% of the holdings
- Return on equity
- 11.2% combined
- Net margin
- 2.0% combined
- Beta
- 1.08 weighted, vs S&P 500
XRT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XRT | 22.0 | 12.6 | 0.45 | 2.47 | 1.19% | 11.2% | 2.0% | 9.5% |
| 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.
XRT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Consumer Cyclical | 74.4% | 17.8 | 12.7 | 0.48 | 2.39 | 1.06% | 13.4% |
| Consumer Defensive | 21.0% | 64.0 | 13.6 | 0.36 | 2.75 | 1.25% | 4.3% |
| Healthcare | 1.4% | 389.0 | 54.3 | 3.16 | 7.36 | 0.00% | 1.9% |
| Technology | 1.2% | 10.6 | 3.5 | 0.20 | 1.33 | 9.52% | 12.5% |
| Communication Services | 0.8% | n/m | 22.5 | 1.35 | 17.77 | 0.00% | −334.5% |
XRT 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 XRT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XRT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| KSS | Kohl's Corporation | 1.94% | 9.6 | 8.5 | 0.2 | 2.32% | 4.48% |
| CART | Instacart (Maplebear Inc.) | 1.71% | 27.2 | 13.0 | 3.0 | — | 1.40% |
| ETSY | Etsy, Inc. | 1.70% | 24.9 | 14.9 | 2.7 | — | 1.52% |
| GME | GameStop Corp. | 1.69% | 17.6 | 28.2 | 3.8 | — | 2.13% |
| ACI | Albertsons Companies, Inc. | 1.68% | — | 6.1 | 0.1 | 5.19% | −0.06% |
| GO | Grocery Outlet Holding Corp. | 1.68% | — | 14.9 | 0.3 | — | −11.29% |
| OLLI | Ollie's Bargain Outlet Holdings, Inc. | 1.64% | 20.8 | 19.2 | 2.0 | — | 1.76% |
| BBWI | Bath & Body Works, Inc. | 1.64% | 5.3 | 6.3 | 0.6 | 3.97% | 6.91% |
| TJX | The TJX Companies, Inc. | 1.64% | 27.3 | 24.9 | 2.6 | 1.30% | 1.34% |
| BJ | BJ's Wholesale Club Holdings, Inc. | 1.63% | 21.7 | 19.2 | 0.6 | — | 1.67% |
| KR | The Kroger Co. | 1.62% | 35.4 | 11.3 | 0.3 | 2.45% | 1.02% |
| VSXY | Victoria's Secret & Co | 1.61% | 19.5 | 13.6 | 1.0 | — | 1.85% |
| EBAY | eBay Inc. | 1.61% | 25.3 | 16.6 | 4.5 | 1.03% | 1.42% |
| SIG | Signet Jewelers Limited | 1.60% | 13.7 | 9.3 | 0.7 | 1.18% | 2.60% |
| WMT | Walmart Inc. | 1.59% | 43.0 | 38.0 | 1.3 | 0.83% | 0.82% |
| ULTA | Ulta Beauty, Inc. | 1.59% | 21.6 | 19.6 | 2.0 | — | 1.64% |
| M | Macy's, Inc. | 1.58% | 8.8 | 9.4 | 0.3 | 3.19% | 4.01% |
| AZO | AutoZone, Inc. | 1.56% | 20.5 | 16.5 | 2.5 | — | 1.70% |
| BBY | Best Buy Co., Inc. | 1.54% | 15.4 | 13.6 | 0.5 | 4.15% | 2.23% |
| ASO | Academy Sports and Outdoors, Inc. | 1.53% | 9.8 | 7.3 | 0.6 | 1.02% | 3.48% |
| SBH | Sally Beauty Holdings, Inc. | 1.53% | 8.5 | 7.4 | 0.4 | — | 4.00% |
| BKE | The Buckle, Inc. | 1.53% | 10.7 | 13.7 | 1.8 | 3.01% | 3.18% |
| REAL | The RealReal, Inc. | 1.52% | — | 38.2 | 1.7 | — | −3.07% |
| RVLV | Revolve Group, Inc. | 1.51% | 22.6 | 18.2 | 1.2 | — | 1.49% |
| EYE | National Vision Holdings, Inc. | 1.48% | 28.1 | 15.6 | 0.7 | — | 1.18% |
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 XRT valuation
Adding up its 73 holdings with company data, XRT trades at 22.0 times trailing earnings and 12.6 times analysts' forward estimates, with a price-to-book ratio of 2.47 and a dividend yield of 1.19%. Its earnings yield of 4.54% is 0.79 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 16.9% of the fund and earn 9.9% of its combined profit. By sector, Healthcare is the most expensive at 389.0 times earnings and Technology the cheapest at 10.6. Companies that lost money over the past year are 9.5% 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 98.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XRT chart, XRT performance, XRT holdings, XRT dividends.
XRT valuation FAQ
What is the P/E ratio of XRT?
Based on its holdings, XRT has a trailing P/E of 22.0 and a forward P/E of 12.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XRT?
The trailing earnings yield is 4.54% (1 ÷ P/E) and the forward earnings yield 7.92%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XRT more expensive than the S&P 500?
XRT trades at 22.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.6 and 19.9.
What is the price-to-book ratio of XRT?
The holdings of XRT trade at 2.47 times book value, with a combined return on equity of 11.2%.
Which sector in XRT has the highest P/E?
Healthcare has the highest P/E at 389.0 and Technology the lowest at 10.6.