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The P/E ratio, sometimes also referred to as the earnings multiple, is calculated by dividing a fund’s price by its earnings. Generally speaking, the higher the P/E, the more investors are expecting higher future earnings growth. Here is a list of the 100 equity ETFs with the highest P/E ratios. You may also wish to peruse our list of the 100 equity ETFs with the lowest P/E ratios.

This data may include leveraged and inverse ETFs. To exclude leveraged and inverse ETFs from the table below, click here.

Symbol Name P/E Ratio AUM Avg Volume
PBE PowerShares Dynamic Biotechnology & Genome Portfolio ETF 453.14 $248,688.00 40,458
EQWS PowerShares Russell 2000 Equal Weight Portfolio ETF 143.37 $13,508.00 1,237
SIL Silver Miners ETF 132.83 $319,446.00 171,815
SCIN EGShares India Small Cap ETF 75.34 $19,318.50 6,136
PBD PowerShares Global Clean Energy Portfolio ETF 73.23 $57,888.80 9,072
KWEB KraneShares CSI China Internet ETF 64.73 $120,996.00 124,522
SGDM Sprott Gold Miners Exchange Traded Fund 52.27 $215,848.50 132,852
INXX EGShares India Infrastructure ETF 48.49 $41,691.00 14,602
ARKK Ark Innovation ETF 47.94 $8,874.00 2,066
VDE Vanguard Energy ETF 46.80 $3,991,727.20 250,869
PXSV PowerShares Russell 2000 Pure Value Portfolio ETF 42.73 $61,525.00 5,372
PNQI PowerShares NASDAQ Internet Portfolio ETF 41.82 $265,574.00 22,534
PXSG PowerShares Russell 2000 Pure Growth Portfolio ETF 41.35 $27,634.50 2,367
PGJ PowerShares Golden Dragon China Portfolio ETF 41.33 $144,715.00 15,595
ARKW Web X.0 ETF 40.51 $13,596.00 1,249
GDX VanEck Vectors Gold Miners ETF 39.80 $7,887,462.40 81,856,414
VTWG Vanguard Russell 2000 Growth Index Fund ETF 38.90 $142,158.00 4,437
VBK Vanguard Small-Cap Growth ETF 38.70 $4,490,500.80 169,978
PSAU PowerShares Global Gold and Precious Metals Portfolio ETF 37.29 $15,132.00 35,863
HUSE U.S. Equity Rotation Strategy ETF 37.00 $4,736.30 1,235
PSCH PowerShares S&P SmallCap Health Care Portfolio ETF 36.86 $201,723.00 17,389
URA Uranium ETF 36.46 $118,715.00 102,574
PTF PowerShares DWA Technology Momentum Portfolio ETF 35.84 $164,604.00 32,138
FDN First Trust Dow Jones Internet Index Fund 35.62 $3,167,043.60 437,743
IGV iShares North American Tech-Software ETF 32.76 $824,746.50 257,165
NANR SPDR S&P North American Natural Resources ETF 32.00 $833,490.00 49,563
RING iShares MSCI Global Gold Miners ETF 31.64 $174,041.00 463,565
INCO EGShares India Consumer ETF 31.01 $75,716.00 16,397
IHI iShares U.S. Medical Devices ETF 30.98 $1,211,203.50 111,229
ENY Guggenheim Canadian Energy Income ETF 30.90 $30,272.00 16,017
SLVP iShares MSCI Global Silver Miners ETF 30.84 $50,783.00 146,989
GDXX Ultra Gold Miners ETF 30.37 $12,157.90 17,549
NUGT Direxion Daily Gold Miners Index Bull 3x Shares ETF 30.35 $1,393,161.00 7,394,682
ARKG Genomic Revolution Multi-Sector ETF 30.22 $7,079.40 868
PHO PowerShares Water Resources Portfolio ETF 29.97 $694,127.50 58,332
EWW iShares MSCI Mexico Capped ETF 29.95 $1,164,009.00 2,154,303
DWAQ PowerShares DWA NASDAQ Momentum Portfolio ETF 29.94 $32,917.50 1,646
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF 29.89 $38,237.50 38,675
SMIN iShares MSCI India Small-Cap ETF 29.56 $56,070.00 12,783
DWAS PowerShares DWA SmallCap Momentum Portfolio ETF 29.47 $171,696.00 28,282
VTWO Vanguard Russell 2000 ETF 29.40 $516,258.00 35,532
XITK SPDR FactSet Innovative Technology ETF 29.23 $5,635.00 1,080
VXF Vanguard Extended Market ETF 29.20 $3,909,498.00 345,842
WOOD iShares Global Timber & Forestry ETF 29.15 $221,806.20 12,714
SLX VanEck Vectors Steel ETF 28.72 $65,458.50 93,249
VOT Vanguard Mid-Cap Growth ETF 28.70 $3,322,773.20 94,680
IHE iShares U.S. Pharmaceuticals ETF 28.32 $617,609.10 42,166
INDA iShares MSCI India ETF 28.20 $3,671,324.80 1,827,992
JKH iShares Morningstar Mid-Cap Growth ETF 28.14 $197,687.50 3,642
JKK iShares Morningstar Small-Cap Growth ETF 27.44 $109,176.00 2,017
VIOG Vanguard S&P Small-Cap 600 Growth ETF 27.40 $119,626.00 5,228
PXMG PowerShares Russell Midcap Pure Growth Portfolio ETF 27.32 $61,602.50 9,068
VB Vanguard Small-Cap ETF 27.20 $12,928,462.40 546,968
INDY iShares India 50 ETF 27.08 $758,205.00 184,794
FVL First Trust Value Line 100 Exchange-Traded Fund 27.06 $49,237.20 5,145
MTUM iShares MSCI USA Momentum Factor ETF 26.88 $1,389,936.00 226,646
PRFZ PowerShares FTSE RAFI US 1500 Small-Mid Portfolio ETF 26.82 $1,124,011.00 27,675
PJP PowerShares Dynamic Pharmaceuticals Portfolio ETF 26.78 $1,148,264.00 135,948
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund 26.63 $2,207,296.00 582,629
ACWV iShares MSCI All Country World Minimum Volatility ETF 26.54 $3,003,342.00 228,971
FRAK VanEck Vectors Unconventional Oil & Gas ETF 26.38 $47,217.50 28,580
EVX VanEck Vectors Environmental Services ETF 26.36 $16,547.50 703
XLE Energy Select Sector SPDR Fund 25.65 $14,604,966.40 15,516,280
VIOO Vanguard S&P Small-Cap 600 ETF 25.60 $278,044.00 14,258
EZA iShares MSCI South Africa ETF 25.43 $359,924.00 682,511
VHT Vanguard Health Care ETF 25.40 $5,439,390.80 173,372
DXJH WisdomTree Japan Hedged Health Care Fund 25.29 $12,928.00 4,208
DIG Ultra Oil & Gas ETF 25.23 $165,517.70 169,014
KLDW Gavekal Knowledge Leaders Developed World ETF 25.22 $23,499.00 8,036
HECO EcoLogical Strategy ETF 25.20 $6,329.70 376
RPG Guggenheim S&P 500 Pure Growth ETF 24.95 $1,798,634.80 143,903
ARKQ Industrial Innovation ETF 24.94 $14,940.00 1,368
PWB PowerShares Dynamic Large Cap Growth Portfolio ETF 24.87 $426,699.00 69,615
FIW First Trust ISE Water Index Fund 24.84 $128,448.00 41,365
VDC Vanguard Consumer Staples ETF 24.70 $3,261,982.20 121,442
GURU Global X Guru Index ETF 24.66 $82,088.50 52,040
IXN iShares Global Tech ETF 24.58 $734,598.00 27,308
RHS Guggenheim S&P 500 Equal Weight Consumer Staples ETF 24.54 $789,579.00 61,383
ARGT Global X MSCI Argentina ETF 24.45 $88,035.50 75,855
VO Vanguard Mid-Cap ETF 24.40 $14,149,646.40 372,506
YLCO YieldCo Index ETF 24.39 $6,017.00 4,986
EDEN iShares MSCI Denmark Capped ETF 24.38 $82,273.00 60,168
HACK PureFunds ISE Cyber Security ETF 24.29 $708,136.00 201,466
RYH Guggenheim S&P 500 Equal Weight Health Care ETF 24.21 $500,280.00 22,923
HAKK Direxion Daily Cyber Security & IT Bull 2x Shares ETF 24.21 $1,614.50 1,288
EEML iShares MSCI Emerging Markets Latin America ETF 24.15 $7,452.00 4,031
FXH First Trust Health Care AlphaDEX Fund 24.13 $1,152,873.00 475,128
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 24.10 $467,873.00 16,214
FTC First Trust Large Cap Value AlphaDEX Fund 24.02 $623,358.50 63,411
PXLG PowerShares Russell Top 200 Pure Growth Portfolio ETF 23.96 $149,625.00 7,155
PSJ PowerShares Dynamic Software Portfolio ETF 23.95 $73,656.00 5,380
RFG Guggenheim S&P MidCap 400 Pure Growth ETF 23.94 $591,504.10 16,763
USMV iShares MSCI USA Minimum Volatility ETF 23.94 $14,006,761.60 3,651,066
VIOV Vanguard S&P Small-Cap 600 Value ETF 23.90 $117,748.50 5,771
ERX Direxion Daily Energy Bull 3x Shares ETF 23.84 $587,832.50 3,870,734
HEWI iShares Currency Hedged MSCI Italy ETF 23.83 $26,866.00 18,248
VTWV Vanguard Russell 2000 Value ETF 23.80 $74,698.50 3,765
ILF iShares Latin America 40 ETF 23.79 $775,200.00 1,387,052
PIO PowerShares Global Water Portfolio ETF 23.77 $201,480.00 17,080
XME SPDR S&P Metals & Mining ETF 23.75 $571,861.90 8,754,388

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