AVRE
Avantis Real Estate ETF
AVRE is an actively managed fund that provides broad exposure to real estate securities around the world.
Fund Basics
| Fund sponsor | American Century Investments |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 28, 2021 |
| Assets (mns) | $336 |
| Expense ratio | 17 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 | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PROLOGIS INC | 6.9 % |
| AMERICAN TOWER CORP-CL A | 5.5 % |
| EQUINIX INC | 4.9 % |
| WELLTOWER, INC. | 3.0 % |
| PUBLIC STORAGE | 3.0 % |
| DIGITAL REALTY TRUST INC | 2.7 % |
| REALTY INCOME CORP | 2.6 % |
| CROWN CASTLE INTL CORP | 2.4 % |
| SIMON PROPERTY GROUP INC | 2.4 % |
| VICI PROPERTIES INC | 2.1 % |
Constituent Breakdown
| Number of holdings | 291 |
| Herfindahl-Hirschman Index | 191 |
| Wgt avg mkt cap (mns) | $33,359 |
| Large cap (>$10bn) | 62.3% |
| Mid cap ($2-10bn) | 29.2% |
| Small cap (<$2bn) | 6.0% |
| Developed mkts. | 98.4% |
| Emerging mkts. | 1.6% |
Country Exposure
 |
UNITED STATES | 69.8 % |
 |
JAPAN | 7.1 % |
 |
AUSTRALIA | 6.1 % |
 |
BRITAIN | 3.8 % |
 |
SINGAPORE | 3.4 % |
 |
FRANCE | 1.8 % |
 |
CANADA | 1.6 % |
 |
HONG KONG | 1.1 % |
 |
BELGIUM | 1.0 % |
 |
MEXICO | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 0.1% | -7.0% | -- | -- | -- | -- | -7.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 77% |
| MSCI EAFE | 0.93 | 78% |
| MSCI Emg Mkts | 0.68 | 43% |
Liquidity Measures
| Avg. volume (000) | 32 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $8,639 |
Technical Indicators
| Recent close | $39.86 |
| 30d moving avg. | $40.27 |
| Annualized volatility | 20.5% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 2.9% |
| 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. AVRE |
Expenses vs. AVRE |
ALTAR Score™ vs. AVRE |
|---|---|---|---|---|
| DFGR | Dimensional Global Real Estate ETF | 86.8% | +5 bp | +0.4% |
| REET | iShares Global REIT ETF | 80.9% | -3 bp | +0.5% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 73.6% | +33 bp | +0.2% |
| FREL | Fidelity MSCI Real Estate Index ETF | 69.5% | -9 bp | +0.7% |
| SCHH | Schwab U.S. REIT ETF | 69.4% | -10 bp | +0.9% |
| DFAR | Dimensional US Real Estate ETF | 69.2% | +2 bp | +0.8% |
| ERET | iShares Environmentally Aware Real Estate ETF | 68.1% | +13 bp | +0.6% |
| VNQ | Vanguard REIT Index Fund | 67.5% | -5 bp | +0.7% |
| IYR | iShares U.S. Real Estate ETF | 65.3% | +23 bp | +0.5% |
| USRT | iShares Core U.S. REIT ETF | 60.1% | -9 bp | +0.8% |
Risk and Returns: AVRE 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 9/20/2023
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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
AVRE
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™
AVRE
6.6%
Cat. Avg
4.1%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.6% |
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 345 funds in the Global Equities category, with an average ALTAR Score™
of 4.1% and a standard deviation of
5.0%. AVRE's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places AVRE in the 69th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
AVRE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
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) |
|
|---|---|---|---|
| AVRE | 17.0 | 20.0 | 37 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .