BBRE
JPMorgan BetaBuilders MSCI U.S. REIT ETF
Seeks investment results that closely correspond to the U.S. equity REIT market by investing at least 80% of its assets in securities included in the MSCI US REIT Index.
US
EQUITY
Passive
MANAGEMENT STYLE
899.5 M
ASSETS UNDER MGMT
11 bp
EXPENSES
Fund Basics
| Fund sponsor | JPMorgan |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 15, 2018 |
| Assets (mns) | $900 |
| Expense ratio | 11 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PROLOGIS INC | 8.3 % |
| WELLTOWER, INC. | 7.4 % |
| EQUINIX INC | 5.8 % |
| DIGITAL REALTY TRUST INC | 4.4 % |
| SIMON PROPERTY GROUP INC | 4.4 % |
| REALTY INCOME CORP | 4.3 % |
| PUBLIC STORAGE | 4.0 % |
| VICI PROPERTIES INC | 3.0 % |
| EXTRA SPACE STORAGE INC | 2.8 % |
| AVALONBAY COMMUNITIES INC | 2.5 % |
Constituent Breakdown
| Number of holdings | 119 |
| Herfindahl-Hirschman Index | 307 |
| Wgt avg mkt cap (mns) | $39,504 |
| Large cap (>$10bn) | 76.2% |
| Mid cap ($2-10bn) | 17.5% |
| Small cap (<$2bn) | 4.5% |
| Developed mkts. | 98.7% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.5 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 0.1% | -4.3% | 12.3% | 4.5% | 6.0% | -- | -- | 3.0% |
| Dividend Yield | 0.8% | 0.7% | 2.3% | 2.7% | 2.7% | -- | -- | 2.7% |
| Total Returns | 0.9% | -3.5% | 14.6% | 7.3% | 8.7% | -- | -- | 5.7% | Ann. Volatility | 18.9% | 18.9% | 18.2% | 19.0% | 19.4% | -- | -- | 23.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.03 | 60% |
| MSCI EAFE | 0.79 | 46% |
| MSCI Emg Mkts | 0.65 | 37% |
Liquidity Measures
| Avg. volume (000) | 16 |
| ADV traded (mns) | $1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| Recent close | $93.74 |
| 30d moving avg. | $94.82 |
| Annualized volatility | 17.1% |
| Relative strength (RSI) | 49 |
| Short interest | 0.6% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| USRT | iShares Core U.S. REIT ETF | 91.5% | -3 bp | +8.1% |
| FRI | First Trust S&P REIT Index Fund | 89.6% | +39 bp | +7.7% |
| RWR | SPDR Dow Jones REIT ETF | 86.0% | +14 bp | +7.8% |
| DFAR | Dimensional US Real Estate ETF | 85.7% | +8 bp | +8.3% |
| SCHH | Schwab U.S. REIT ETF | 82.2% | -4 bp | +8.4% |
| FREL | Fidelity MSCI Real Estate Index ETF | 76.1% | -3 bp | +7.8% |
| VNQ | Vanguard Real Estate ETF | 75.9% | +2 bp | +7.7% |
| IYR | iShares U.S. Real Estate ETF | 73.3% | +29 bp | +7.7% |
| ICF | iShares Cohen & Steers REIT ETF | 69.6% | +22 bp | +8.1% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 68.8% | +39 bp | +7.1% |
Risk and Returns: BBRE 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 11/2/2025
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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
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
BBRE
8.2%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 997 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. BBRE's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places BBRE in the 86th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BBRESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 217 |
| Avg. Expense Ratio | 31.1 bp |
| Std. Deviation | 25.2 bp |
| BBRE (11 bp) Percentile rank | 21 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BBRE | 11.0 | 10.9 | 21.9 |
| Peer Avg. | 31.1 | 10.5 | 41.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .