Invesco S&P SmallCap Low Volatility ETF (XSLV) Valuation
XSLV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 16.5 trailing earnings
- Forward P/E
- 14.8 analyst estimates
- Price / sales
- 2.51
- Price / book
- 1.35
- EV / EBITDA
- 12.1
- Earnings yield
- 6.07% inverse of P/E
- Dividend yield
- 3.82% of the holdings
- Return on equity
- 8.2% combined
- Net margin
- 15.2% combined
- Beta
- 0.79 weighted, vs S&P 500
XSLV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XSLV | 16.5 | 14.8 | 2.51 | 1.35 | 3.82% | 8.2% | 15.2% | 3.9% |
| 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.
XSLV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 46.6% | 12.4 | 11.4 | 2.91 | 1.18 | 3.06% | 9.5% |
| Real Estate | 28.5% | 27.4 | 27.3 | 4.38 | 1.37 | 6.30% | 5.0% |
| Utilities | 8.8% | 18.1 | 17.6 | 2.30 | 1.54 | 3.33% | 8.6% |
| Industrials | 5.4% | 18.0 | 13.0 | 1.16 | 2.39 | 1.77% | 13.3% |
| Consumer Defensive | 2.9% | 25.6 | 15.7 | 0.70 | 1.45 | 2.58% | 5.7% |
| Basic Materials | 2.7% | 49.5 | 15.4 | 1.56 | 2.04 | 1.07% | 4.1% |
| Consumer Cyclical | 1.5% | 15.8 | 14.7 | 1.88 | 2.58 | 2.55% | 16.4% |
| Communication Services | 0.9% | 8.5 | 39.1 | 3.10 | 1.03 | 0.47% | 12.2% |
| Healthcare | 0.9% | 24.9 | 18.0 | 2.15 | 9.30 | 0.65% | 37.4% |
| Technology | 0.9% | 23.6 | 19.5 | 0.75 | 2.35 | 0.90% | 9.9% |
XSLV 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 XSLV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XSLV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| PECO | Phillips Edison & Company, Inc. | 1.32% | 33.5 | 65.8 | 7.2 | 3.61% | 0.67% |
| LTC | LTC Properties, Inc. | 1.24% | 15.6 | 12.5 | 6.9 | 5.22% | 1.34% |
| IVT | InvenTrust Properties Corp. | 1.20% | 158.3 | 250.0 | 7.4 | 3.33% | 0.13% |
| CHCO | City Holding Company | 1.13% | 15.5 | 16.4 | 6.2 | 2.82% | 1.24% |
| APLE | Apple Hospitality REIT, Inc. | 1.13% | 23.0 | 23.5 | 2.8 | 5.63% | 0.83% |
| AVA | Avista Corporation | 1.12% | 13.2 | 13.0 | 1.6 | 5.37% | 1.43% |
| CPK | Chesapeake Utilities Corporation | 1.11% | 21.1 | 17.9 | 3.4 | 2.22% | 0.89% |
| WABC | Westamerica Bancorporation | 1.11% | 13.6 | 21.1 | 5.6 | 3.13% | 1.38% |
| FCPT | Four Corners Property Trust, Inc. | 1.06% | 20.0 | 20.2 | 7.9 | 6.90% | 0.90% |
| AWR | American States Water Company | 1.05% | 22.9 | 22.1 | 4.7 | 2.61% | 0.78% |
| SHO | Sunstone Hotel Investors, Inc. | 1.02% | 56.3 | 555.6 | 2.2 | 3.04% | 0.31% |
| NWN | Northwest Natural Holding Company | 1.01% | 16.3 | 14.5 | 1.6 | 4.08% | 1.05% |
| BCPC | Balchem Corporation | 1.01% | 33.6 | 29.3 | 5.0 | 0.56% | 0.51% |
| EFC | Ellington Financial Inc. | 0.98% | 7.2 | 9.1 | 3.5 | 13.39% | 2.29% |
| FCF | First Commonwealth Financial Corporation | 0.98% | 12.5 | 10.6 | 4.1 | 2.75% | 1.32% |
| UTL | Unitil Corporation | 0.98% | 17.1 | 19.9 | 1.7 | 3.51% | 0.97% |
| EPRT | Essential Properties Realty Trust, Inc. | 0.97% | 20.2 | 22.8 | 9.2 | 4.91% | 0.81% |
| CURB | Curbline Properties Corp. | 0.96% | 94.7 | 50.5 | 13.6 | 2.56% | 0.17% |
| DRH | DiamondRock Hospitality Company | 0.96% | 18.6 | 19.8 | 2.4 | 3.28% | 0.87% |
| BNL | Broadstone Net Lease, Inc. | 0.96% | 23.9 | 24.6 | 8.1 | 6.45% | 0.68% |
| LXP | LXP Industrial Trust | 0.95% | 60.5 | 28.9 | 10.4 | 4.59% | 0.27% |
| MGEE | MGE Energy, Inc. | 0.95% | 17.8 | 25.3 | 3.6 | 2.81% | 0.91% |
| IOSP | Innospec Inc. | 0.95% | 19.8 | 15.0 | 1.3 | 1.85% | 0.81% |
| BFS | Saul Centers, Inc. | 0.95% | 30.1 | 178.6 | 3.4 | 8.00% | 0.53% |
| TRNO | Terreno Realty Corporation | 0.94% | 17.2 | 80.0 | 13.9 | 3.56% | 0.93% |
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 XSLV valuation
Adding up its 114 holdings with company data, XSLV trades at 16.5 times trailing earnings and 14.8 times analysts' forward estimates, with a price-to-book ratio of 1.35 and a dividend yield of 3.82%. Its earnings yield of 6.07% is 0.74 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 11.5% of the fund and earn 9.6% of its combined profit. By sector, Basic Materials is the most expensive at 49.5 times earnings and Communication Services the cheapest at 8.5. Companies that lost money over the past year are 3.9% 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 97.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XSLV chart, XSLV performance, XSLV holdings, XSLV dividends.
XSLV valuation FAQ
What is the P/E ratio of XSLV?
Based on its holdings, XSLV has a trailing P/E of 16.5 and a forward P/E of 14.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XSLV?
The trailing earnings yield is 6.07% (1 ÷ P/E) and the forward earnings yield 6.74%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XSLV more expensive than the S&P 500?
XSLV trades at 16.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.8 and 19.9.
What is the price-to-book ratio of XSLV?
The holdings of XSLV trade at 1.35 times book value, with a combined return on equity of 8.2%.
Which sector in XSLV has the highest P/E?
Basic Materials has the highest P/E at 49.5 and Communication Services the lowest at 8.5.