AREA vs. RDOG ETF Comparison

Comparison of Harbor AlphaEdge Next Generation REITs ETF (AREA) to ALPS REIT Dividend Dogs ETF (RDOG)

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

$19.86

Average Daily Volume

229

Number of Holdings ^*

* may have additional holdings in another (foreign) market

RDOG

ALPS REIT Dividend Dogs ETF

RDOG Description

The investment seeks investment results that replicate as closely as possible, before fees and expenses, the performance of an index called the S-Network REIT Dividend Dogs Index (the "underlying index"). The fund will normally invest at least 90% of its total assets in common stocks and other equity securities that comprise the underlying index. The underlying index is a rules-based index intended to give investors a means of tracking the overall performance of the highest dividend paying real estate investment trusts ("REITs") in the S-Network US Composite REIT Index, a universe of mainly REITs listed in the United States, on a segment-by-segment basis.

Grade (RS Rating)

Last Trade

$39.35

Average Daily Volume

1,870

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AREA	RDOG
30 Days	-4.09%	-5.06%
60 Days		-2.95%
90 Days		0.38%
12 Months		24.38%

11 Overlapping Holdings

Symbol	Grade	Weight in AREA	Weight in RDOG	Overlap
AMT	D	6.47%	2.13%	2.13%
BHR	D	0.3%	2.22%	0.3%
CCI	D	2.15%	2.12%	2.12%
EPR	D	3.74%	2.19%	2.19%
GLPI	D	0.48%	2.23%	0.48%
HST	D	5.36%	2.29%	2.29%
NSA	D	1.17%	2.05%	1.17%
OUT	C	1.4%	2.45%	1.4%
PK	F	1.61%	2.23%	1.61%
SBAC	D	6.22%	2.29%	2.29%
SBRA	B	3.68%	2.31%	2.31%

AREA Overweight 23 Positions Relative to RDOG

Symbol	Grade	Weight
LAMR	B	7.21%
WY	D	6.92%
CUBE	D	5.19%
IRM	B	4.04%
RYN	C	3.62%
ELS	D	3.57%
DRH	D	3.42%
VICI	D	3.23%
EXR	D	2.94%
SHO	D	2.86%
NHI	C	2.73%
OHI	B	2.57%
DOC	C	2.52%
PSA	D	2.51%
LAND	F	2.34%
LTC	A	1.74%
INN	F	1.03%
VTR	B	0.99%
INVH	F	0.93%
DHC	D	0.49%
SILA	C	0.34%
WELL	A	0.27%
XHR	C	0.25%

AREA Underweight 33 Positions Relative to RDOG

Symbol	Grade	Weight
MAC	B	-2.52%
SLG	B	-2.52%
HIW	C	-2.45%
CBL	B	-2.43%
SPG	C	-2.39%
APLE	C	-2.36%
DLR	A	-2.35%
CTO	B	-2.34%
IIPR	C	-2.33%
EQIX	B	-2.31%
GOOD	C	-2.3%
BDN	C	-2.29%
GTY	C	-2.28%
DEA	C	-2.28%
UNIT	C	-2.28%
BFS	D	-2.2%
OLP	C	-2.19%
BNL	D	-2.19%
NXRT	D	-2.17%
ELME	D	-2.16%
STAG	D	-2.14%
LXP	D	-2.14%
UDR	D	-2.13%
GMRE	D	-2.12%
UMH	D	-2.11%
AHH	D	-2.09%
TRNO	F	-2.06%
PLYM	F	-2.06%
BRT	F	-2.03%
OPI	F	-2.0%
UHT	D	-2.0%
SVC	F	-1.82%
MPW	D	-1.75%