Even at an All-Time High, The Vanguard S&P 500 ETF Isn’t as Expensive as It Seems

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The Vanguard S&P 500 ETF is hovering around an all-time high at the time of this writing — up 8.5% year to date and a whopping 66.4% since the start of 2023. But S&P 500 earnings haven’t grown nearly …