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.
Fund Basics
| Fund sponsor | JPMorgan |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 15, 2018 |
| Assets (mns) | $802 |
| 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 | 10.9 % |
| EQUINIX INC | 7.8 % |
| WELLTOWER, INC. | 4.5 % |
| SIMON PROPERTY GROUP INC | 4.2 % |
| DIGITAL REALTY TRUST INC | 4.2 % |
| PUBLIC STORAGE | 4.0 % |
| REALTY INCOME CORP | 3.6 % |
| VICI PROPERTIES INC | 2.9 % |
| EXTRA SPACE STORAGE INC | 2.8 % |
| AVALONBAY COMMUNITIES INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 123 |
| Herfindahl-Hirschman Index | 334 |
| Wgt avg mkt cap (mns) | $26,383 |
| Large cap (>$10bn) | 68.4% |
| Mid cap ($2-10bn) | 25.3% |
| Small cap (<$2bn) | 6.4% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.9 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.5% | -0.9% | -7.4% | 5.2% | 3.9% | -- | 4.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 82% |
| MSCI EAFE | 1.00 | 69% |
| MSCI Emg Mkts | 0.68 | 35% |
Liquidity Measures
| Avg. volume (000) | 31 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $2,804 |
Technical Indicators
| Recent close | $82.05 |
| 30d moving avg. | $76.25 |
| Annualized volatility | 20.4% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 3.1% |
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. BBRE |
Expenses vs. BBRE |
ALTAR Score™ vs. BBRE |
|---|---|---|---|---|
| FRI | First Trust S&P REIT Index Fund | 96.5% | +39 bp | -0.4% |
| USRT | iShares Core U.S. REIT ETF | 96.2% | -3 bp | 0.0% |
| RWR | SPDR Dow Jones REIT ETF | 89.8% | +14 bp | -0.4% |
| DFAR | Dimensional US Real Estate ETF | 83.8% | +8 bp | -0.4% |
| SCHH | Schwab U.S. REIT ETF | 81.3% | -4 bp | -0.1% |
| FREL | Fidelity MSCI Real Estate Index ETF | 76.1% | -3 bp | -0.4% |
| IYR | iShares U.S. Real Estate ETF | 72.6% | +29 bp | -0.6% |
| REET | iShares Global REIT ETF | 70.5% | +3 bp | -0.4% |
| XLRE | The Real Estate Select Sector SPDR Fund | 68.4% | -1 bp | -0.6% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 68.4% | +39 bp | -1.0% |
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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 11/30/2023
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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
BBRE
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™
BBRE
7.7%
Cat. Avg
6.1%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.7% |
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 896 funds in the US Equities category, with an average ALTAR Score™
of 6.1% and a standard deviation of
3.1%. BBRE's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places BBRE in the 70th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BBRE
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) |
|
|---|---|---|---|
| BBRE | 11.0 | 7.8 | 18.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .