PPTY
US Diversified Real Estate ETF
The U.S. Diversified Real Estate ETF tracks an index of fundamentally selected and weighted US-listed equities that derive income from the ownership or management of real estate.
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 26, 2018 |
| Assets (mns) | $126 |
| Expense ratio | 53 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| AVALONBAY COMMUNITIES INC | 4.0 % |
| EQUINIX INC | 3.6 % |
| PROLOGIS INC | 3.4 % |
| FOUR CORNERS PROPERTY TRUST, INC. | 3.3 % |
| EQUITY RESIDENTIAL | 3.0 % |
| SIMON PROPERTY GROUP INC | 3.0 % |
| EASTERLY GOVERNMENT PROPERTIES, INC. | 2.9 % |
| DIGITAL REALTY TRUST INC | 2.9 % |
| AMERICAN HOMES 4 RENT- A | 2.7 % |
| TERRENO REALTY CORP | 2.4 % |
Constituent Breakdown
| Number of holdings | 94 |
| Herfindahl-Hirschman Index | 190 |
| Wgt avg mkt cap (mns) | $19,947 |
| Large cap (>$10bn) | 47.5% |
| Mid cap ($2-10bn) | 37.6% |
| Small cap (<$2bn) | 14.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 99.9 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -2.4% | 9.5% | -8.1% | 1.4% | 3.3% | -- | 5.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 80% |
| MSCI EAFE | 1.02 | 69% |
| MSCI Emg Mkts | 0.72 | 37% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.23% |
| ADV of underlying (mns) | $6,135 |
Technical Indicators
| Recent close | $29.37 |
| 30d moving avg. | $27.83 |
| Annualized volatility | 20.9% |
| Relative strength (RSI) | 70 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 2.6% |
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. PPTY |
Expenses vs. PPTY |
ALTAR Score™ vs. PPTY |
|---|---|---|---|---|
| RWR | SPDR Dow Jones REIT ETF | 56.8% | -28 bp | +0.4% |
| USRT | iShares Core U.S. REIT ETF | 55.4% | -45 bp | +0.8% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 54.5% | -42 bp | +0.8% |
| FRI | First Trust S&P REIT Index Fund | 54.4% | -3 bp | +0.3% |
| DFAR | Dimensional US Real Estate ETF | 51.4% | -34 bp | +0.7% |
| SCHH | Schwab U.S. REIT ETF | 51.1% | -46 bp | +0.9% |
| RWO | SPDR Dow Jones Global Real Estate ETF | 47.3% | -3 bp | +0.2% |
| FREL | Fidelity MSCI Real Estate Index ETF | 47.1% | -45 bp | +0.6% |
| REET | iShares Global REIT ETF | 46.8% | -39 bp | +0.4% |
| ERET | iShares Environmentally Aware Real Estate ETF | 45.5% | -23 bp | +0.5% |
Risk and Returns: PPTY 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 5/7/2024
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
PPTY
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™
PPTY
6.6%
Cat. Avg
5.7%
Fund Category: US 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 887 funds in the US Equities category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.7%. PPTY's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places PPTY in the 63rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PPTY
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) |
|
|---|---|---|---|
| PPTY | 53.0 | 23.4 | 76.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .