How do you find out the "true" market or index P/E ? :confused:
For example, Yahoo Finance currently shows the following:
iShares S&P 500 Index (IVV): 13.62 P/E
SPDRs (SPY): 14.28 P/E
Vanguard Large Cap ETF (VV): 15.82 P/E
To add to confusion, going by ETF's providers websites:
iShares S&P 500 Index (IVV): 20.63 P/E (source: iShares.com)
Vanguard Large Cap ETF (VV): 16.5 P/E (source: Vanguard.com)
all as of 1/31/2008 (ssgafunds.com doesn't list P/E for SPY, other than 13.73 FY1 P/E). How do you reconcile all this? These are all supposed to be more or less equivalent funds.
It's even worse with Small Caps. Yahoo shows IWM at 14.96 P/E and VB at 17.29 P/E. iShares shows IWM at 25.47 P/E while Vanguard.com shows VB at 20.7 P/E, both as of 1/31/2008.
I know I'm supposed to stick to my AA and not worry about anything else, but come on!