Analyst's Disclosure: I/we have a beneficial long position in the shares of SCHD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The S&P 500 ( SP500 ) is trading at 32x TTM P/E and ≈25x Blended P/E, which is a combination of the last 2 quarters and the next 2 quarters. S ...