SOXX valuation troughed at 18.6x in 2022, then expanded to about 40x by 2024–2025

Asked:
“make me a chart with historical P/E ratio for SOXX index for the last 5 years”

Interpreting “SOXX index” as the iShares Semiconductor ETF (SOXX), the chart covers five complete calendar years, 2021–2025, of calendar-year-end trailing P/E ratios in turns (x). The five historical points are single-sourced from one Trefis page and are a reconstructed annual valuation series, not an official contemporaneous index series; five recent official iShares readings were collected only as a cross-source check.

The 2022 trough of 18.6x sits 54% below the 2024 peak of 40.73x. trefis.com
Valuation roughly doubled in a year: 18.6x at end-2022 to 35.69x at end-2023. trefis.com
2024–2025 is a near-plateau: 40.73x to 40.39x, a slip of just 0.34 turns. trefis.com
Recent official iShares point-in-time portfolio P/E readings ran 62.5x–68.03x — a different methodology and not comparable to the annual reconstruction. ishares.com

Annual observations

Year-endTrailing P/E (x)BasisSource

Source-validation note. Five official iShares product-page observations (August 2026) show current point-in-time portfolio P/E between 62.5x and 68.03x. They confirm the fund's identity and current metric but use a different methodology and level than the Trefis annual reconstruction, so they are kept off the chart. The Trefis series uses an aggregate method over profitable constituents applied to current SOXX holdings at current weights; negative-earning constituents fall outside that aggregate.

Data: 10 sourced rows — 5 calendar-year-end trailing P/E observations for the iShares Semiconductor ETF (SOXX), 2021–2025, single-sourced from one Trefis page (reconstructed with an aggregate method over profitable constituents at current holdings and weights), plus 5 official iShares point-in-time portfolio P/E checks from August 2026 shown only in the note. P/E is price divided by trailing earnings, in turns (x). No monthly precision is implied; this is not the official PHLX SOX index.

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