Invesco S&P SmallCap Quality ETF (XSHQ) Valuation
XSHQ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 13.4 trailing earnings
- Forward P/E
- 13.7 analyst estimates
- Price / sales
- 1.85
- Price / book
- 3.05
- EV / EBITDA
- 10.7
- Earnings yield
- 7.49% inverse of P/E
- Dividend yield
- 1.34% of the holdings
- Return on equity
- 22.8% combined
- Net margin
- 13.8% combined
- Beta
- 1.18 weighted, vs S&P 500
XSHQ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XSHQ | 13.4 | 13.7 | 1.85 | 3.05 | 1.34% | 22.8% | 13.8% | 1.2% |
| 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.
XSHQ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 26.2% | 10.2 | 10.8 | 1.88 | 2.19 | 2.87% | 21.5% |
| Technology | 24.2% | 12.4 | 15.4 | 2.44 | 4.77 | 0.42% | 38.3% |
| Industrials | 18.5% | 23.0 | 17.9 | 1.70 | 4.15 | 1.07% | 18.1% |
| Consumer Cyclical | 10.5% | 18.5 | 15.0 | 1.29 | 3.40 | 0.70% | 18.4% |
| Energy | 5.5% | 8.5 | 12.6 | 1.54 | 2.57 | 2.47% | 30.3% |
| Healthcare | 4.7% | 18.4 | 12.4 | 1.86 | 2.51 | 0.16% | 13.7% |
| Communication Services | 4.4% | 15.0 | 13.7 | 1.92 | 2.11 | 0.13% | 14.1% |
| Consumer Defensive | 2.8% | 14.0 | 10.8 | 1.83 | 2.07 | 0.75% | 14.8% |
| Basic Materials | 2.4% | 16.5 | 17.8 | 2.94 | 4.35 | 0.86% | 26.3% |
XSHQ 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 XSHQ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XSHQ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| PAYC | Paycom Software, Inc. | 4.80% | 26.6 | 16.7 | 5.3 | 0.60% | 2.51% |
| LYFT | Lyft, Inc. | 2.33% | 2.5 | 9.3 | 0.9 | — | 12.96% |
| AWI | Armstrong World Industries, Inc. | 2.27% | 23.0 | 17.1 | 4.2 | 0.81% | 1.37% |
| DAVE | Dave Inc. | 2.27% | 23.7 | 16.9 | 7.3 | — | 1.33% |
| MKTX | MarketAxess Holdings Inc. | 2.16% | 19.5 | 18.6 | 6.7 | 1.90% | 1.54% |
| YOU | Clear Secure, Inc. | 2.15% | 29.5 | — | 4.5 | 1.31% | 1.01% |
| FTDR | Frontdoor, Inc. | 1.89% | 20.8 | 14.5 | 2.5 | — | 1.26% |
| AGX | Argan, Inc. | 1.78% | 27.3 | 16.6 | 4.1 | 0.81% | 0.91% |
| ZWS | Zurn Elkay Water Solutions Corporation | 1.76% | 29.2 | 22.9 | 4.4 | 0.94% | 0.84% |
| MC | Moelis & Company | 1.72% | 19.0 | 13.4 | 2.6 | 4.77% | 1.26% |
| PJT | PJT Partners Inc. | 1.63% | 18.7 | 16.5 | 3.1 | 0.73% | 1.21% |
| LNC | Lincoln National Corporation | 1.57% | 3.4 | 5.2 | 0.4 | 4.52% | 6.44% |
| APAM | Artisan Partners Asset Management Inc. | 1.52% | 7.8 | 8.6 | 1.8 | 10.72% | 2.72% |
| TDC | Teradata Corporation | 1.46% | 6.4 | 9.6 | 1.7 | — | 3.18% |
| MATX | Matson, Inc. | 1.42% | 15.8 | 19.2 | 2.0 | 0.65% | 1.25% |
| MYRG | MYR Group Inc. | 1.41% | 26.6 | 21.7 | 1.1 | — | 0.74% |
| ECG | Everus Construction Group Inc | 1.40% | 22.1 | 19.2 | 1.3 | — | 0.88% |
| POWL | Powell Industries, Inc. | 1.38% | 31.6 | 29.3 | 5.2 | 0.22% | 0.61% |
| CARG | CarGurus, Inc. | 1.36% | 16.1 | 8.5 | 2.8 | — | 1.17% |
| IBP | Installed Building Products, Inc. | 1.35% | 20.0 | 17.8 | 1.7 | 0.84% | 0.93% |
| TGTX | TG Therapeutics, Inc. | 1.33% | 19.6 | 25.9 | 10.3 | — | 0.95% |
| PIPR | Piper Sandler Companies | 1.32% | 15.0 | 10.1 | 2.2 | 1.24% | 1.23% |
| PLXS | Plexus Corp. | 1.28% | 34.0 | 24.2 | 1.3 | — | 0.52% |
| SEZL | Sezzle Inc. | 1.25% | 28.0 | 17.1 | 8.1 | — | 0.62% |
| ACIW | ACI Worldwide, Inc. | 1.22% | 24.1 | 12.6 | 2.9 | — | 0.70% |
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 XSHQ valuation
Adding up its 109 holdings with company data, XSHQ trades at 13.4 times trailing earnings and 13.7 times analysts' forward estimates, with a price-to-book ratio of 3.05 and a dividend yield of 1.34%. Its earnings yield of 7.49% is 2.16 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 23.1% of the fund and earn 25.0% of its combined profit. By sector, Industrials is the most expensive at 23.0 times earnings and Energy the cheapest at 8.5. Companies that lost money over the past year are 1.2% 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 95.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XSHQ chart, XSHQ performance, XSHQ holdings, XSHQ dividends.
XSHQ valuation FAQ
What is the P/E ratio of XSHQ?
Based on its holdings, XSHQ has a trailing P/E of 13.4 and a forward P/E of 13.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XSHQ?
The trailing earnings yield is 7.49% (1 ÷ P/E) and the forward earnings yield 7.31%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XSHQ more expensive than the S&P 500?
XSHQ trades at 13.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.7 and 19.9.
What is the price-to-book ratio of XSHQ?
The holdings of XSHQ trade at 3.05 times book value, with a combined return on equity of 22.8%.
Which sector in XSHQ has the highest P/E?
Industrials has the highest P/E at 23.0 and Energy the lowest at 8.5.