P/E ratio by sector today: the cheapest and most expensive sectors

As of 12 October 2026, Financials (XLF) has the lowest P/E of the 11 S&P 500 sector funds at 15.5×, and Technology (XLK) the highest at 34.4×. Across 84 industry and theme funds, P/E runs from 5.7× for Mortgage REITs (MORT) to 46.5× for Artificial Intelligence (THNQ). Cheapest and most expensive here mean lowest and highest P/E: measurements, not recommendations.

Prices as of 12 October 2026Updated daily

Lowest sector P/E

15.5×

Financials (XLF)

Highest sector P/E

34.4×

Technology (XLK)

Median sector P/E

24.8×

11 S&P 500 sector funds

Funds with a P/E

63 of 95

50%+ of weight covered

P/E ratio by sector

As of 12 October 2026, here are the 11 S&P 500 sector funds, ranked by P/E, lowest first. Each P/E is the fund's weighted harmonic P/E over its holdings. The quadrant and the 1-month spread show how the sector moves against the S&P 500. Select a column header to sort.

P/E of the 11 S&P 500 sector funds, lowest first

Lowest P/E quarterSecond quarterThird quarterHighest P/E quarter

P/E ratio of the 11 S&P 500 sector funds, lowest first
#		Ticker			Quadrant
1	FinancialsFinancial Select Sector SPDR	XLF	15.5×	98%	Cooling	−5.6 pts
2	Communication ServicesCommunication Services Select Sector SPDR	XLC	16.6×	89%	Underperformers	−2.8 pts
3	EnergyEnergy Select Sector SPDR	XLE	18.5×	99%	Cooling	−0.1 pts
4	UtilitiesUtilities Select Sector SPDR	XLU	18.6×	99%	Underperformers	−3.1 pts
5	MaterialsMaterials Select Sector SPDR	XLB	23.1×	85%	Underperformers	−4.6 pts
6	Consumer StaplesConsumer Staples Select Sector SPDR	XLP	24.8×	96%	Underperformers	−0.2 pts
7	Consumer DiscretionaryConsumer Discretionary Select Sector SPDR	XLY	26.3×	98%	Underperformers	−2.5 pts
8	IndustrialsIndustrial Select Sector SPDR	XLI	28.0×	99%	Underperformers	−3.7 pts
9	Real EstateReal Estate Select Sector SPDR	XLRE	30.6×	95%	Underperformers	−4.7 pts
10	HealthcareHealth Care Select Sector SPDR	XLV	30.8×	94%	Outperformers	+2.3 pts
11	TechnologyTechnology Select Sector SPDR	XLK	34.4×	96%	Outperformers	+2.7 pts

P/E ratio by industry and theme

84 industry and theme funds, from banks and semiconductors to uranium, ranked by P/E, lowest first. A "—" means less than half of the fund's weight has a P/E. Those funds sit at the end of the table.

Industry and theme funds with a P/E (50%+ of weight covered) · colour: P/E quarter among all of them · one scale

Lowest P/E quarterHighest P/E quarter

10 lowest P/E industries and themes

10 highest P/E industries and themes

P/E ratio of industry and theme funds, lowest first
#		Ticker			Quadrant
1	Mortgage REITsVanEck Mortgage REIT Income ETF	MORT	5.7×	90%	Underperformers	−16.3 pts
2	InsuranceSPDR S&P Insurance ETF	KIE	10.2×	94%	Underperformers	−4.6 pts
3	Natural GasFirst Trust Natural Gas ETF	FCG	10.9×	88%	Cooling	−6.2 pts
4	Oil & Gas Exploration & ProductionSPDR S&P Oil & Gas Exploration & Production ETF	XOP	11.8×	88%	Cooling	−2.4 pts
5	Regional BanksSPDR S&P Regional Banking ETF	KRE	12.0×	96%	Underperformers	−7.4 pts
6	Community BanksFirst Trust NASDAQ ABA Community Bank Index Fund	QABA	12.5×	97%	Underperformers	−6.5 pts
7	BanksInvesco KBW Bank ETF	KBWB	12.9×	99%	Underperformers	−10.8 pts
8	Business DevelopmentVanEck BDC Income ETF	BIZD	13.0×	55%	Cooling	−6.1 pts
9	Gold MinersVanEck Gold Miners ETF	GDX	13.5×	73%	Cooling	−10.9 pts
10	Master Limited PartnershipsAlerian MLP ETF	AMLP	14.4×	71%	Cooling	−7.8 pts
11	HomebuildersiShares U.S. Home Construction ETF	ITB	15.1×	96%	Underperformers	−7.4 pts
12	AirlinesU.S. Global Jets ETF	JETS	15.5×	57%	Underperformers	−6.1 pts
13	RetailSPDR S&P Retail ETF	XRT	15.6×	90%	Underperformers	−2.6 pts
14	Financial ServicesiShares U.S. Financial Services ETF	IYG	16.1×	98%	Cooling	−6.1 pts
15	US Small Cap Low VolatilitySPDR SSGA US Small Cap Low Volatility Index ETF	SMLV	16.8×	73%	Underperformers	−4.0 pts
16	S&P 600 Small CapSPDR Portfolio S&P 600 Small Cap ETF	SPSM	17.6×	71%	Underperformers	−5.1 pts
17	FinTechGlobal X FinTech ETF	FINX	18.0×	71%	Cooling	−6.9 pts
18	Metals & MiningSPDR S&P Metals & Mining ETF	XME	18.4×	70%	Cooling	−9.7 pts
19	Food & BeverageInvesco Food & Beverage ETF	PBJ	18.6×	94%	Underperformers	−3.4 pts
20	Energy InfrastructureGlobal X MLP & Energy Infrastructure ETF	MLPX	18.7×	76%	Underperformers	−5.1 pts
21	Broker-DealersiShares U.S. Broker-Dealers & Securities Exchanges ETF	IAI	18.7×	95%	Underperformers	−8.1 pts
22	Capital MarketsSPDR S&P Capital Markets ETF	KCE	19.0×	89%	Cooling	−7.1 pts
23	SteelVanEck Steel ETF	SLX	19.0×	56%	Cooling	−7.2 pts
24	TransportationiShares U.S. Transportation ETF	IYT	19.4×	95%	Underperformers	−4.4 pts
25	Health Care ServicesSPDR S&P Health Care Services ETF	XHS	20.5×	73%	Underperformers	−1.1 pts
26	Oil & Gas Equipment & ServicesSPDR S&P Oil & Gas Equipment & Services ETF	XES	21.1×	81%	Cooling	−11.5 pts
27	Health Care ProvidersiShares U.S. Healthcare Providers ETF	IHF	21.3×	88%	Underperformers	−0.9 pts
28	Social MediaGlobal X Social Media ETF	SOCL	21.5×	54%	Underperformers	−1.4 pts
29	Leisure and EntertainmentInvesco Leisure and Entertainment ETF	PEJ	22.3×	78%	Underperformers	−2.0 pts
30	WaterFirst Trust Water ETF	FIW	23.5×	99%	Underperformers	−2.0 pts
31	MomentumSPDR S&P 1500 Momentum Tilt ETF	MMTM	25.0×	77%	Underperformers	−0.4 pts
32	PharmaceuticalVanEck Pharmaceutical ETF	PPH	25.0×	85%	Underperformers	−0.6 pts
33	Digital InfrastructureiShares Digital Infrastructure ETF	IDGT	25.1×	87%	Underperformers	−0.9 pts
34	Data Center & Digital InfrastructureGlobal X Data Center & Digital Infrastructure ETF	DTCR	25.2×	75%	Underperformers	−3.9 pts
35	Social SentimentVanEck Social Sentiment ETF	BUZZ	25.6×	65%	Cooling	−0.4 pts
36	US InternetFirst Trust Dow Jones Internet Index Fund	FDN	25.8×	88%	Outperformers	+1.4 pts
37	Environmental ServicesVanEck Environmental Services ETF	EVX	26.7×	71%	Underperformers	−3.7 pts
38	Industrial & Office Real EstatePacer Industrial Real Estate ETF	INDS	27.3×	69%	Underperformers	−4.9 pts
39	MetaverseFidelity Metaverse ETF	FMET	27.9×	64%	Outperformers	+0.1 pts
40	Next Generation MediaEA Series Trust Next Generation Media ETF	GGME	28.4×	63%	Outperformers	+0.6 pts
41	Medical DevicesiShares U.S. Medical Devices ETF	IHI	28.7×	92%	Emerging	+1.9 pts
42	Next Gen ConnectivityAlger Mid Cap 40 ETF	KNCT	28.9×	62%	Cooling	−1.2 pts
43	Future VehiclesFirst Trust S-Network Future Vehicles & Technology ETF	CARZ	30.8×	57%	Underperformers	−3.7 pts
44	Cloud ComputingFirst Trust Cloud Computing ETF	SKYY	31.6×	75%	Outperformers	+6.8 pts
45	Real EstateDimensional Global Real Estate ETF	DFGR	32.0×	56%	Underperformers	−5.0 pts
46	Aerospace & DefenseiShares U.S. Aerospace & Defense ETF	ITA	32.2×	94%	Underperformers	−7.8 pts
47	ManufacturingTema American Reshoring ETF	RSHO	34.4×	92%	Underperformers	−2.1 pts
48	SemiconductorsVanEck Semiconductor ETF	SMH	34.9×	95%	Emerging	+1.9 pts
49	Residential Real EstateiShares Residential and Multisector Real Estate ETF	REZ	36.8×	90%	Underperformers	−5.4 pts
50	CybersecurityFirst Trust NASDAQ Cybersecurity ETF	CIBR	38.8×	81%	Outperformers	+12.1 pts
51	SoftwareiShares Expanded Tech-Software Sector ETF	IGV	40.9×	88%	Outperformers	+7.6 pts
52	Artificial IntelligenceRobo Global Artificial Intelligence ETF	THNQ	46.5×	68%	Outperformers	+5.8 pts
53	AgribusinessVanEck Agribusiness ETF	MOO	— (under 50% of weight has a P/E)	49%	Cooling	−8.7 pts
54	BiotechnologySPDR S&P Biotech ETF	XBI	— (under 50% of weight has a P/E)	28%	Underperformers	−5.1 pts
55	Blockchain TechnologyAmplify Transformational Data Sharing ETF	BLOK	— (under 50% of weight has a P/E)	46%	Cooling	−9.7 pts
56	CannabisAmplify Alternative Harvest ETF	MJ	— (under 50% of weight has a P/E)	5%	Cooling	−11.3 pts
57	China InternetKraneShares CSI China Internet ETF	KWEB	— (under 50% of weight has a P/E)	22%	Underperformers	−1.4 pts
58	Clean EnergyiShares Global Clean Energy ETF	ICLN	— (under 50% of weight has a P/E)	32%	Underperformers	−6.5 pts
59	CleanTechGlobal X CleanTech ETF	CTEC	— (under 50% of weight has a P/E)	24%	Cooling	−7.0 pts
60	CoalRange Global Coal Index ETF	COAL	— (under 50% of weight has a P/E)	32%	Cooling	−9.4 pts
61	Copper MinersGlobal X Copper Miners ETF	COPX	— (under 50% of weight has a P/E)	12%	Cooling	−5.7 pts
62	Crypto IndexBitwise 10 Crypto Index Fund	BITW	— (under 50% of weight has a P/E)	—	Outperformers	+3.3 pts
63	Crypto InnovatorsVanEck Digital Transformation ETF	DAPP	— (under 50% of weight has a P/E)	17%	Cooling	−13.9 pts
64	Electric Energy InfrastructureFirst Trust NASDAQ Clean Edge Smart Grid Infrastructure ETF	GRID	— (under 50% of weight has a P/E)	44%	Underperformers	−3.0 pts
65	Emerging MarketsiShares MSCI Emerging Markets ETF	EEM	— (under 50% of weight has a P/E)	1%	Cooling	−4.5 pts
66	GamingVanEck Gaming ETF	BJK	— (under 50% of weight has a P/E)	—	Underperformers	−1.1 pts
67	InfrastructureiShares Global Infrastructure ETF	IGF	— (under 50% of weight has a P/E)	46%	Underperformers	−3.5 pts
68	Lithium & BatteryGlobal X Lithium & Battery Tech ETF	LIT	— (under 50% of weight has a P/E)	37%	Underperformers	−6.4 pts
69	MusicMUSQ Global Music Industry ETF	MUSQ	— (under 50% of weight has a P/E)	44%	Underperformers	−4.2 pts
70	NanotechnologyProShares Nanotechnology ETF	TINY	— (under 50% of weight has a P/E)	40%	Emerging	+0.5 pts
71	Natural ResourcesSPDR S&P Global Natural Resources ETF	GNR	— (under 50% of weight has a P/E)	48%	Cooling	−5.6 pts
72	Natural ResourcesMission Timber & Natural Resources ETF	CSNR	— (under 50% of weight has a P/E)	—	Cooling	−5.6 pts
73	Nuclear EnergyVanEck Uranium+Nuclear Energy ETF	NLR	— (under 50% of weight has a P/E)	25%	Cooling	−13.5 pts
74	Private EquityInvesco Global Listed Private Equity ETF	PSP	— (under 50% of weight has a P/E)	37%	Cooling	−7.7 pts
75	Renewable Energy ProducersGlobal X Renewable Energy Producers ETF	RNRG	— (under 50% of weight has a P/E)	10%	Underperformers	−7.5 pts
76	Sea to Sky CargoU.S. Global Sea to Sky Cargo ETF	SEA	— (under 50% of weight has a P/E)	46%	Outperformers	+5.5 pts
77	ShippingSonicShares Global Shipping ETF	BOAT	— (under 50% of weight has a P/E)	32%	Outperformers	+4.2 pts
78	Silver MinersGlobal X Silver Miners ETF	SIL	— (under 50% of weight has a P/E)	27%	Cooling	−12.7 pts
79	Solar EnergyInvesco Solar ETF	TAN	— (under 50% of weight has a P/E)	43%	Underperformers	−9.8 pts
80	Sports BettingRoundhill Sports Betting & iGaming ETF	BETZ	— (under 50% of weight has a P/E)	16%	Underperformers	−16.4 pts
81	Sustainable FutureInvesco MSCI Sustainable Future ETF	ERTH	— (under 50% of weight has a P/E)	34%	Underperformers	−7.8 pts
82	Timber & ForestryiShares Global Timber & Forestry ETF	WOOD	— (under 50% of weight has a P/E)	19%	Cooling	−8.0 pts
83	UraniumGlobal X Uranium ETF	URA	— (under 50% of weight has a P/E)	3%	Cooling	−15.4 pts
84	Wind EnergyFirst Trust Global Wind Energy ETF	FAN	— (under 50% of weight has a P/E)	12%	Underperformers	−7.7 pts

Prices as of 12 October 2026 · P/E coverage = share of fund weight with a positive trailing P/E · how we measure

Stocks by P/E ratio

The S&P 500 stocks with the lowest and the highest trailing P/E, out of the 476 with a positive P/E in company data refreshed up to 10 October 2026. Companies that lose money have no P/E and are not listed. A low P/E can reflect a one-off gain or earnings that the market expects to fall.

25 lowest P/E stocks in the S&P 500

Ranked by trailing P/E, lowest first

#	Stock	Sector	P/E
1	CHTRCharter Communications Inc	Communication Services	2.9×
2	ALLAllstate Corp	Financials	4.6×
3	FISFidelity National Information Services Inc	Financials	5.3×
4	AESThe AES Corp	Utilities	5.6×
5	EIXEdison International	Utilities	5.6×
6	CMCSAComcast Corp	Communication Services	6.8×
7	UHSUniversal Health Services Inc	Healthcare	7.2×
8	SYFSynchrony Financial	Financials	7.4×
9	ACGLArch Capital Group Ltd	Financials	7.5×
10	HONHoneywell International Inc	Industrials	7.6×
11	LULULululemon Athletica	Consumer Discretionary	7.6×
12	EXEExpand Energy Corp	Energy	7.7×
13	CINFCincinnati Financial Corp	Financials	7.8×
14	EGEverest Group Ltd	Financials	7.9×
15	TAT&T	Communication Services	8.2×
16	MKCMcCormick & Co Inc	Consumer Staples	8.3×
17	CFCF Industries Holdings Inc	Materials	8.4×
18	FISVFiserv Inc	Financials	8.8×
19	VICIVici Properties Inc	Real Estate	8.9×
20	HIGThe Hartford Insurance Group Inc	Financials	9.2×
21	PCGPG&E Corp	Utilities	9.2×
22	NCLHNorwegian Cruise Line Holdings Ltd	Consumer Discretionary	9.6×
23	APAAPA Corp	Energy	9.6×
24	TRVThe Travelers Companies Inc	Financials	9.9×
25	PRUPrudential Financial Inc	Financials	10.3×

25 highest P/E stocks in the S&P 500

Ranked by trailing P/E, highest first

#	Stock	Sector	P/E
1	CRWDCrowdStrike	Technology	>500×
2	PANWPalo Alto Networks Inc	Technology	>500×
3	DDOGDatadog Inc	Technology	>500×
4	GPCGenuine Parts Co	Consumer Discretionary	>500×
5	ALBAlbemarle Corp	Materials	378.1×
6	BEBloom Energy	Industrials	359.0×
7	TSLATesla	Consumer Discretionary	347.2×
8	PEverpure Inc	Technology	206.3×
9	OMCOmnicom Group Inc	Communication Services	196.0×
10	ELThe Estee Lauder Companies Inc	Consumer Staples	188.6×
11	AXONAxon Enterprise Inc	Industrials	173.5×
12	PLTRPalantir Technologies	Technology	171.4×
13	CSGPCostar Group Inc	Real Estate	165.6×
14	AMDAMD	Technology	158.3×
15	VTRVentas Inc	Real Estate	151.4×
16	XYZBlock Inc	Financials	135.8×
17	MRKMerck & Co Inc	Healthcare	113.0×
18	MCHPMicrochip Technology Inc	Technology	111.1×
19	WATWaters Corp	Healthcare	108.6×
20	DASHDoordash Inc	Consumer Discretionary	100.9×
21	WELLWelltower Inc	Real Estate	100.0×
22	CIENCiena Corp	Technology	95.3×
23	MRVLMarvell Technology	Technology	90.3×
24	SNPSSynopsys Inc	Technology	87.9×
25	NOWServiceNow	Technology	87.3×

How Zensei computes a sector P/E

A sector P/E here is the P/E of a fund that tracks the sector. Zensei reads the fund's published holdings and the weight of each one. For every holding with a positive trailing P/E (price over the last 12 months of earnings per share), it takes the earnings yield: 1 divided by the P/E.

The fund P/E is the weighted harmonic mean of those P/Es, by fund weight: the covered weight divided by the weighted sum of the earnings yields. This equals the total price of the holdings over their total earnings. A plain average lets one stock at 300× pull the whole figure up; the harmonic mean does not.

Holdings that lose money have no P/E and are left out. P/E coverage is the share of fund weight that has a P/E. Under 50% coverage, the figure describes too little of the fund, so the table shows "—". Commodity, bond, currency and volatility funds hold no stocks and are not in the tables.

Prices update every trading day. Company earnings data refreshes on a rolling schedule, so a P/E can move with the price before the next earnings report changes the denominator.

Sector P/E ratios: common questions

What is a good P/E ratio for a sector?

No single P/E is good for every sector. Growth, margins and interest rates move what investors pay for earnings. As of 12 October 2026, the 11 S&P 500 sector funds range from 15.5× for Financials (XLF) to 34.4× for Technology (XLK), with a median of 24.8×. Industry and theme funds range from 5.7× to 46.5×. A sector P/E reads best next to its peers and its own history. These are measurements, not advice.

Which sector has the lowest P/E ratio today?

As of 12 October 2026, Financials (XLF) has the lowest P/E of the S&P 500 sector funds at 15.5×. Among industries and themes, the lowest is Mortgage REITs (MORT) at 5.7×. A low P/E means a lower price for each dollar of trailing earnings. It does not say whether the earnings will hold.

Why do some funds show no P/E?

Zensei shows a fund P/E only when at least half of the fund's weight sits in stocks with a positive trailing P/E. Companies that lose money have no P/E, and some holdings (foreign listings, cash, futures) have no earnings data. As of 12 October 2026, 32 of the 95 equity funds fall under that line. Commodity, bond, currency and volatility funds hold no stocks, so they are not in the table.

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