ETF Fair Value: Look-Through Valuation

An ETF is a basket of stocks. For each fund, Equity Rank weights every holding's model fair value differential by its size in the fund. A fund-level model figure is shown only when at least 60% of the fund is covered. Model estimates under stated assumptions — not price targets and not investment advice.

• SPY — SPDR S&P 500 ETF Trust (Broad market): look-through model fair value differential -14.5% vs. current prices
• VOO — Vanguard S&P 500 ETF (Broad market): look-through model fair value differential -14.1% vs. current prices
• IVV — iShares Core S&P 500 ETF (Broad market): look-through model fair value differential -14.7% vs. current prices
• VTI — Vanguard Total Stock Market ETF (Broad market): look-through model fair value differential -13.6% vs. current prices
• QQQ — Invesco QQQ Trust (Broad market): look-through model fair value differential -13.9% vs. current prices
• DIA — SPDR Dow Jones Industrial Average ETF (Broad market): look-through model fair value differential -12.4% vs. current prices
• RSP — Invesco S&P 500 Equal Weight ETF (Broad market): look-through model fair value differential -10.0% vs. current prices
• IWM — iShares Russell 2000 ETF (Size): look-through model fair value differential -2.9% vs. current prices
• IJR — iShares Core S&P Small-Cap ETF (Size): look-through model fair value differential -1.5% vs. current prices
• IJH — iShares Core S&P Mid-Cap ETF (Size): look-through model fair value differential -7.3% vs. current prices
• MDY — SPDR S&P MidCap 400 ETF (Size): look-through model fair value differential -8.4% vs. current prices
• VO — Vanguard Mid-Cap ETF (Size): look-through model fair value differential -11.6% vs. current prices
• VB — Vanguard Small-Cap ETF (Size): look-through model fair value differential -5.6% vs. current prices
• VUG — Vanguard Growth ETF (Style): look-through model fair value differential -19.2% vs. current prices
• VTV — Vanguard Value ETF (Style): look-through model fair value differential -8.4% vs. current prices
• IWF — iShares Russell 1000 Growth ETF (Style): look-through model fair value differential -18.7% vs. current prices
• IWD — iShares Russell 1000 Value ETF (Style): look-through model fair value differential -10.1% vs. current prices
• SPYG — SPDR Portfolio S&P 500 Growth ETF (Style): look-through model fair value differential -18.8% vs. current prices
• SPYV — SPDR Portfolio S&P 500 Value ETF (Style): look-through model fair value differential -14.6% vs. current prices
• QUAL — iShares MSCI USA Quality Factor ETF (Style): look-through model fair value differential -17.9% vs. current prices
• MTUM — iShares MSCI USA Momentum Factor ETF (Style): look-through model fair value differential -13.4% vs. current prices
• COWZ — Pacer US Cash Cows 100 ETF (Style): look-through model fair value differential -0.7% vs. current prices
• SCHD — Schwab U.S. Dividend Equity ETF (Dividend): look-through model fair value differential -4.8% vs. current prices
• VYM — Vanguard High Dividend Yield ETF (Dividend): look-through model fair value differential -9.1% vs. current prices
• VIG — Vanguard Dividend Appreciation ETF (Dividend): look-through model fair value differential -15.8% vs. current prices
• DVY — iShares Select Dividend ETF (Dividend): look-through model fair value differential -3.2% vs. current prices
• HDV — iShares Core High Dividend ETF (Dividend): look-through model fair value differential -11.2% vs. current prices
• NOBL — ProShares S&P 500 Dividend Aristocrats ETF (Dividend): look-through model fair value differential -9.7% vs. current prices
• XLK — Technology Select Sector SPDR Fund (Sector): look-through model fair value differential -11.6% vs. current prices
• XLF — Financial Select Sector SPDR Fund (Sector): look-through model fair value differential -16.2% vs. current prices
• XLV — Health Care Select Sector SPDR Fund (Sector): look-through model fair value differential -13.0% vs. current prices
• XLE — Energy Select Sector SPDR Fund (Sector): look-through model fair value differential -10.9% vs. current prices
• XLI — Industrial Select Sector SPDR Fund (Sector): look-through model fair value differential -11.6% vs. current prices
• XLY — Consumer Discretionary Select Sector SPDR Fund (Sector): look-through model fair value differential -13.9% vs. current prices
• XLP — Consumer Staples Select Sector SPDR Fund (Sector): look-through model fair value differential -19.5% vs. current prices
• XLU — Utilities Select Sector SPDR Fund (Sector): look-through model fair value differential -16.1% vs. current prices
• XLB — Materials Select Sector SPDR Fund (Sector): look-through model fair value differential -13.4% vs. current prices
• XLRE — Real Estate Select Sector SPDR Fund (Sector): look-through model fair value differential -12.8% vs. current prices
• XLC — Communication Services Select Sector SPDR Fund (Sector): look-through model fair value differential -11.9% vs. current prices
• VGT — Vanguard Information Technology ETF (Sector): look-through model fair value differential -11.2% vs. current prices
• SMH — VanEck Semiconductor ETF (Industry): look-through model fair value differential -12.1% vs. current prices
• SOXX — iShares Semiconductor ETF (Industry): look-through model fair value differential -12.1% vs. current prices
• IGV — iShares Expanded Tech-Software Sector ETF (Industry): look-through model fair value differential -13.1% vs. current prices
• KRE — SPDR S&P Regional Banking ETF (Industry): look-through model fair value differential -3.9% vs. current prices
• KBE — SPDR S&P Bank ETF (Industry): look-through model fair value differential -5.0% vs. current prices
• XBI — SPDR S&P Biotech ETF (Industry): coverage too low for a fund-level model figure
• IBB — iShares Biotechnology ETF (Industry): look-through model fair value differential -4.8% vs. current prices
• ITB — iShares U.S. Home Construction ETF (Industry): look-through model fair value differential -20.9% vs. current prices
• XHB — SPDR S&P Homebuilders ETF (Industry): look-through model fair value differential -19.5% vs. current prices
• XOP — SPDR S&P Oil & Gas Exploration & Production ETF (Industry): look-through model fair value differential +7.4% vs. current prices
• GDX — VanEck Gold Miners ETF (Industry): coverage too low for a fund-level model figure
• ITA — iShares U.S. Aerospace & Defense ETF (Industry): look-through model fair value differential -5.8% vs. current prices
• XRT — SPDR S&P Retail ETF (Industry): look-through model fair value differential -6.4% vs. current prices
• JETS — U.S. Global Jets ETF (Industry): coverage too low for a fund-level model figure
• TAN — Invesco Solar ETF (Theme): coverage too low for a fund-level model figure
• ICLN — iShares Global Clean Energy ETF (Theme): coverage too low for a fund-level model figure
• ARKK — ARK Innovation ETF (Theme): look-through model fair value differential -23.2% vs. current prices
• VNQ — Vanguard Real Estate ETF (Sector): look-through model fair value differential -10.0% vs. current prices