BYRE vs. AREA ETF Comparison

Comparison of Principal Real Estate Active Opportunities ETF (BYRE) to Harbor AlphaEdge Next Generation REITs ETF (AREA)

BYRE

Principal Real Estate Active Opportunities ETF

BYRE Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies principally engaged in the real estate industry at the time of purchase. It invests primarily in equity securities of U.S. companies, including those of small companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.62

Average Daily Volume

957

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

Performance

Period	BYRE	AREA
30 Days	-3.18%	-4.09%
60 Days	-1.84%
90 Days	1.75%
12 Months	23.30%

12 Overlapping Holdings

Symbol	Grade	Weight in BYRE	Weight in AREA	Overlap
AMT	D	7.12%	6.47%	6.47%
CCI	D	1.79%	2.15%	1.79%
DRH	D	1.55%	3.42%	1.55%
EXR	D	5.61%	2.94%	2.94%
GLPI	D	4.19%	0.48%	0.48%
INVH	F	6.12%	0.93%	0.93%
NHI	C	2.22%	2.73%	2.22%
SBAC	D	5.11%	6.22%	5.11%
SBRA	B	4.26%	3.68%	3.68%
VICI	D	4.18%	3.23%	3.23%
VTR	B	8.53%	0.99%	0.99%
WELL	A	4.95%	0.27%	0.27%

BYRE Overweight 10 Positions Relative to AREA

Symbol	Grade	Weight
EQIX	B	6.66%
COLD	F	4.69%
SUI	D	4.47%
REXR	F	4.26%
TRNO	F	4.14%
AMH	F	3.98%
DLR	A	3.08%
ARE	F	2.8%
RHP	B	1.97%
VAC	B	1.09%

BYRE Underweight 22 Positions Relative to AREA

Symbol	Grade	Weight
LAMR	B	-7.21%
WY	D	-6.92%
HST	D	-5.36%
CUBE	D	-5.19%
IRM	B	-4.04%
EPR	D	-3.74%
RYN	C	-3.62%
ELS	D	-3.57%
SHO	D	-2.86%
OHI	B	-2.57%
DOC	C	-2.52%
PSA	D	-2.51%
LAND	F	-2.34%
LTC	A	-1.74%
PK	F	-1.61%
OUT	C	-1.4%
NSA	D	-1.17%
INN	F	-1.03%
DHC	D	-0.49%
SILA	C	-0.34%
BHR	D	-0.3%
XHR	C	-0.25%