AVRE
Avantis Real Estate ETF
AVRE is an actively managed fund that provides broad exposure to real estate securities around the world.
Global
EQUITY
Active
MANAGEMENT STYLE
17 bp
EXPENSES
$504.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | American Century Investments |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 28, 2021 |
| Assets (mns) | $504 |
| 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 | 6.1 % |
| AMERICAN TOWER CORP-CL A | 6.0 % |
| EQUINIX INC | 4.8 % |
| WELLTOWER, INC. | 3.9 % |
| GOODMAN GROUP | 3.3 % |
| SIMON PROPERTY GROUP INC | 3.1 % |
| DIGITAL REALTY TRUST INC | 3.0 % |
| PUBLIC STORAGE | 2.9 % |
| REALTY INCOME CORP | 2.7 % |
| CROWN CASTLE INTL CORP | 2.7 % |
Constituent Breakdown
| Number of holdings | 298 |
| Herfindahl-Hirschman Index | 206 |
| Wgt avg mkt cap (mns) | $29,038 |
| Large cap (>$10bn) | 65.7% |
| Mid cap ($2-10bn) | 26.8% |
| Small cap (<$2bn) | 7.5% |
| Developed mkts. | 98.1% |
| Emerging mkts. | 1.9% |
Country Exposure
 |
UNITED STATES | 69.9 % |
 |
AUSTRALIA | 6.8 % |
 |
JAPAN | 5.6 % |
 |
BRITAIN | 4.1 % |
 |
SINGAPORE | 2.6 % |
 |
FRANCE | 1.9 % |
 |
CANADA | 1.1 % |
 |
BELGIUM | 1.0 % |
 |
HONG KONG | 0.9 % |
 |
SOUTH AFRICA | 0.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -3.4% | 5.7% | 0.3% | -- | -- | -- | -5.7% | Volatility | 14.7% | 15.9% | 18.7% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 76% |
| MSCI EAFE | 0.99 | 77% |
| MSCI Emg Mkts | 0.79 | 48% |
Liquidity Measures
| Avg. volume (000) | 46 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.19% |
| ADV of underlying (mns) | $14,435 |
Technical Indicators
| Recent close | $42.71 |
| 30d moving avg. | $41.98 |
| Annualized volatility | 20.6% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.4% |
| 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 | 84.5% | +5 bp | +0.3% |
| REET | iShares Global REIT ETF | 79.1% | -3 bp | +0.4% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 70.3% | +33 bp | +0.2% |
| FREL | Fidelity MSCI Real Estate Index ETF | 69.6% | -9 bp | +0.5% |
| VNQ | Vanguard Real Estate ETF | 69.5% | -5 bp | +0.5% |
| DFAR | Dimensional US Real Estate ETF | 69.5% | +2 bp | +0.6% |
| SCHH | Schwab U.S. REIT ETF | 69.3% | -10 bp | +0.8% |
| IYR | iShares U.S. Real Estate ETF | 65.2% | +23 bp | +0.4% |
| ERET | iShares Environmentally Aware Real Estate ETF | 64.3% | +13 bp | +0.6% |
| USRT | iShares Core U.S. REIT ETF | 59.7% | -9 bp | +0.7% |
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
| 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 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
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
6.1%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.1% |
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 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. AVRE's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places AVRE in the 67th 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
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| AVRE (17 bp) Percentile rank | 3 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| AVRE | 17.0 | 18.8 | 35.8 |
| Peer Avg. | 71.8 | 35.5 | 107.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .