How Expensive is XLK?
Fund-level valuation built from the constituents' own ratios. Aggregate multiples use the cap-weighted harmonic mean — the index-provider standard that a simple average badly overstates (a naïve average can inflate the fund P/E by 60%+). Switch the metric to compare sectors and see the dispersion across all 73 holdings.
Ratios are point-in-time from the latest fundamental snapshot; negative/non-meaningful multiples (no earnings) are excluded from the aggregates.
Valuation by Sector & Distribution
Fund P/E: 34.1 — cap-weighted harmonic mean. Green = cheaper than the fund.
By sector (cap-weighted)
Distribution across holdings
Fund P/E over time (cap-weighted harmonic) · dashed line = today
Quality vs Valuation
P/E (cheaper left) × return on equity (higher = better) · bubble = market cap · color = sector. The top-left quadrant — low P/E, high ROE — is quality at a discount. Dashed lines mark the cohort medians.