AREA vs. NURE ETF Comparison

Comparison of Harbor AlphaEdge Next Generation REITs ETF (AREA) to NuShares Enhanced Yield US Aggregate Bond ETF (NURE)

AREA

Harbor AlphaEdge Next Generation REITs ETF

AREA Description

AREA targetsNext Generation REITs through a proprietary rules-based methodology. Instead of traditional office, multi-family, retail, and industrial REITs, the fund favors non-traditional REITs (e.g., data center, gaming, healthcare & life sciences, hotel & motel, manufactured homes, and self-storage). From an index universe of 3,000 US-listed securities, the fund relies on FactSets RBICS sub-industry classification in filtering Next-Gen REITs. Each qualified company is scored across five factor composites (capital deployment, momentum, quality, risk, and valuation) for a combined stock selection score based on prevailing business cycle regimes. The index provider then selects and weights securities using an optimizer that measures the risk-adjusted returns of the portfolio against a benchmark with similar holdings. The fund holds between 35 and 70 REITs, subject to certain capping limits. The index is reconstituted and rebalanced monthly.

Grade (RS Rating)

Last Trade

$20.14

Average Daily Volume

178

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NURE

NuShares Enhanced Yield US Aggregate Bond ETF

NURE Description

Fund seeks to track the investments results, before fees and expenses, of the Dow Jones U.S. Select Short-Term REIT Index.

Grade (RS Rating)

Last Trade

$33.85

Average Daily Volume

6,063

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AREA	NURE
30 Days	-1.86%	1.65%
60 Days	-4.63%	-2.67%
90 Days		1.92%
12 Months		23.44%

13 Overlapping Holdings

Symbol	Grade	Weight in AREA	Weight in NURE	Overlap
CUBE	D	5.4%	4.61%	4.61%
DRH	B	3.58%	1.55%	1.55%
ELS	C	3.81%	4.91%	3.81%
EXR	D	6.05%	4.76%	4.76%
HST	C	5.76%	5.32%	5.32%
INN	D	1.06%	0.56%	0.56%
INVH	D	0.42%	4.77%	0.42%
NSA	D	1.21%	2.45%	1.21%
PEB	D	0.25%	1.22%	0.25%
PK	B	1.74%	2.54%	1.74%
PSA	D	2.59%	4.73%	2.59%
SHO	C	2.87%	1.7%	1.7%
XHR	B	0.26%	1.27%	0.26%

AREA Overweight 20 Positions Relative to NURE

Symbol	Grade	Weight
WY	D	7.01%
LAMR	D	6.89%
AMT	D	6.24%
SBAC	D	6.1%
IRM	D	3.75%
EPR	D	3.65%
SBRA	C	3.64%
RYN	D	3.56%
VICI	C	3.24%
NHI	D	2.8%
OHI	C	2.55%
DOC	D	2.5%
LAND	F	2.21%
OUT	A	1.5%
SILA	C	1.26%
LTC	B	1.13%
VTR	C	1.0%
CCI	D	0.71%
GLPI	C	0.48%
DHC	F	0.19%

AREA Underweight 20 Positions Relative to NURE

Symbol	Grade	Weight
RHP	B	-5.56%
AVB	B	-5.08%
ESS	B	-5.03%
CPT	B	-5.03%
UDR	B	-4.96%
MAA	B	-4.89%
EQR	B	-4.88%
AMH	D	-4.79%
SUI	D	-4.48%
IRT	A	-3.87%
APLE	B	-2.89%
RLJ	C	-1.23%
VRE	B	-1.22%
ELME	D	-1.21%
UMH	C	-1.11%
CSR	B	-0.92%
AIV	C	-0.91%
NXRT	B	-0.82%
SVC	F	-0.38%
CLDT	B	-0.36%