REAI
Intelligent Real Estate ETF
PRVT is an actively managed fund that invests primarily in US-listed commercial REITs that provide qualitative characteristics of a portfolio of public, non-traded REITs. The fund also invests, to a lesser extent, in mortgage-backed securities.
Fund Basics
Fund sponsor | Tidal |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Jun 12, 2023 |
Assets (mns) | $3 |
Expense ratio | 59 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | No |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
HEALTHPEAK PROPERTIES, INC. | 3.1 % |
WP CAREY INC | 3.1 % |
FEDERAL REALTY OP LP | 3.1 % |
REALTY INCOME CORP | 3.1 % |
PIEDMONT OFFICE REALTY TRUST, INC. CLASS | 3.1 % |
AMERICAN ASSETS TRUST, INC. | 3.1 % |
ESSEX PROPERTY TRUST INC | 3.0 % |
BOSTON PROPERTIES INC | 3.0 % |
COUSINS PROPERTIES INC | 3.0 % |
KIMCO REALTY CORP | 3.0 % |
Constituent Breakdown
Number of holdings | 40 |
Herfindahl-Hirschman Index | 254 |
Wgt avg mkt cap (mns) | $11,845 |
Large cap (>$10bn) | 40.2% |
Mid cap ($2-10bn) | 37.5% |
Small cap (<$2bn) | 22.3% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 98.6 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
-- | -- | -- | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.00 | 0% |
MSCI EAFE | 0.00 | 0% |
MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
Avg. volume (000) | 0 |
Turnover | 0.0% |
Avg. Bid/Ask (% of price) | 0.58% |
ADV of underlying (mns) | $3,460 |
Technical Indicators
Recent close | $19.27 |
30d moving avg. | $18.46 |
Annualized volatility | 0.0% |
Relative strength (RSI) | 69 |
Short interest (ETF) | 0.1% |
Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. REAI |
Expenses vs. REAI |
ALTAR Score™ vs. REAI |
---|---|---|---|---|
RSPR | Invesco S&P 500 Equal Weight Real Estate ETF | 54.1% | -19 bp | -0.4% |
SCHH | Schwab U.S. REIT ETF | 44.6% | -52 bp | +0.2% |
IYR | iShares U.S. Real Estate ETF | 44.3% | -19 bp | -0.3% |
DFAR | Dimensional US Real Estate ETF | 42.5% | -40 bp | -0.1% |
XLRE | Real Estate Select Sector SPDR Fund | 41.1% | -50 bp | -0.5% |
FREL | Fidelity MSCI Real Estate Index ETF | 40.8% | -51 bp | -0.2% |
ICF | iShares Cohen & Steers REIT ETF | 40.5% | -26 bp | -0.5% |
USRT | iShares Core U.S. REIT ETF | 39.1% | -51 bp | +0.1% |
PPTY | US Diversified Real Estate ETF | 38.8% | -6 bp | -0.7% |
FRI | First Trust S&P REIT Index Fund | 38.3% | -9 bp | -0.4% |
Risk and Returns: REAI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 5/8/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
REAI
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
REAI
7.4%
Cat. Avg
5.7%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 7.4% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 887 funds in the US Equities category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.7%. REAI's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places REAI in the 73rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
REAI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
REAI | 59.0 | 58.3 | 117.3 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .