Market valuation question · updated from current data
This comparison puts U.S. large-cap valuation next to a China equity ETF proxy. It can help frame relative valuation, but the sources and market structures are not identical.
On the current data, the U.S. large-cap market P/E is 27.00, while the China equity proxy P/E is 13.89. On P/E alone, China looks cheaper today.
That comparison is only a starting point. Different markets have different sector weights, interest-rate sensitivity, accounting rules, growth expectations, currency risk, and data-source methodology.
10Y percentile 68.3%
Price-to-book valuation
Portfolio or index dividend yield
Inverse of P/E
| Metric | U.S. Large Cap | China Equities |
|---|---|---|
| P/E | 27.00 | 13.89 |
| P/B | 5.55 | 1.69 |
| Dividend yield | 1.0% | 2.1% |
| Earnings yield | 3.7% | 7.2% |
| As of | 2026-07-27 | 2026-07-31 |
| Source | LiXinger .INX | iShares MCHI |
Market valuation pages are snapshots. StockCalc labels data as fresh for 14 days, aging through 45 days, and stale after 45 days.
As of 2026-07-27
As of 2026-07-31 · yield as of 2026-06-30
On the current P/E data, the U.S. large-cap market is 27.00 while the China equity proxy is 13.89. The lower P/E market looks cheaper on that single metric.
They can be compared only with caution. The U.S. side uses S&P 500 index-level valuation where available, while the China side uses an ETF portfolio proxy.
Sector mix, earnings growth, interest rates, currency risk, accounting differences, policy risk, dividends, and investor time horizon can all affect relative valuation.
