REAI
Intelligent Real Estate ETF
PRVT is an actively managed fund that invests primarily in US-listed commercial REITs that provide qualitative characteristics of a portfolio of public, non-traded REITs. The fund also invests, to a lesser extent, in mortgage-backed securities.
US
EQUITY
Active
MANAGEMENT STYLE
1.5 M
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 12, 2023 |
| Assets (mns) | $1 |
| Expense ratio | 59 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 | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EQUINIX INC | 10.1 % |
| DIGITAL REALTY TRUST INC | 9.6 % |
| DIGITAL CORE REIT | 9.5 % |
| UNITI GROUP INC | 8.9 % |
| AMERICAN TOWER CORP-CL A | 5.4 % |
| CROWN CASTLE INTL CORP | 5.4 % |
| STAG INDUSTRIAL INC | 4.9 % |
| IRON MOUNTAIN INC | 4.8 % |
| PROLOGIS INC | 4.8 % |
| KEPPEL DC REIT | 4.8 % |
Constituent Breakdown
| Number of holdings | 21 |
| Herfindahl-Hirschman Index | 621 |
| Wgt avg mkt cap (mns) | $30,290 |
| Large cap (>$10bn) | 45.2% |
| Mid cap ($2-10bn) | 19.1% |
| Small cap (<$2bn) | 20.4% |
| Developed mkts. | 84.6% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 75.9 % |
 |
SINGAPORE | 14.3 % |
 |
CHINA | 4.3 % |
 |
NETHERLANDS | 2.7 % |
 |
AUSTRALIA | 2.5 % |
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 | -5.3% | -9.9% | 7.5% | -- | -- | -- | -- | -0.7% |
| Dividend Yield | 3.5% | 3.9% | 5.0% | -- | -- | -- | -- | 3.9% |
| Total Returns | -1.8% | -6.0% | 12.6% | -- | -- | -- | -- | 3.1% | Ann. Volatility | 19.0% | 18.9% | 18.8% | -- | -- | -- | -- | 18.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.03 | 53% |
| MSCI EAFE | 0.73 | 32% |
| MSCI Emg Mkts | 0.66 | 23% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.43% |
Technical Indicators
| Recent close | $19.82 |
| 30d moving avg. | $20.02 |
| Annualized volatility | 17.6% |
| Relative strength (RSI) | 49 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| DTRE | First Trust Alerian Disruptive Technology Real Estate ETF | 49.9% | +1 bp | +5.9% |
| SRVR | Pacer Data & Infrastructure Real Estate ETF | 48.0% | -4 bp | +4.1% |
| DTCR | Global X Data Center & Digital Infrastructure ETF | 45.7% | -9 bp | +3.5% |
| IDGT | iShares U.S. Digital Infrastructure and Real Estate ETF | 36.4% | -18 bp | +5.3% |
| ICF | iShares Cohen & Steers REIT ETF | 33.4% | -26 bp | +8.1% |
| PSR | Invesco Active U.S. Real Estate Fund | 32.3% | -24 bp | +8.0% |
| XLRE | Real Estate Select Sector SPDR Fund | 31.1% | -51 bp | +7.9% |
| DFAR | Dimensional US Real Estate ETF | 28.9% | -40 bp | +8.3% |
| SCHH | Schwab U.S. REIT ETF | 28.2% | -52 bp | +8.4% |
| IYR | iShares U.S. Real Estate ETF | 28.2% | -19 bp | +7.7% |
Risk and Returns: REAI 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 11/3/2025
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
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
REAI
4.4%
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%. REAI's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places REAI in the 29th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
REAISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 402 |
| Avg. Expense Ratio | 63.7 bp |
| Std. Deviation | 35.5 bp |
| REAI (59 bp) Percentile rank | 45 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| REAI | 59.0 | 42.5 | 101.5 |
| Peer Avg. | 63.7 | 20.8 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .