BYRE vs. REAI ETF Comparison

Comparison of Principal Real Estate Active Opportunities ETF (BYRE) to Intelligent Real Estate ETF (REAI)

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

$26.02

Average Daily Volume

1,029

Number of Holdings ^*

* may have additional holdings in another (foreign) market

REAI

Intelligent Real Estate ETF

REAI Description

REAI aims to remove the restrictions of investing in non-traded REITs, such as low liquidity, high expenses, and gate provisions. However, there are differences between listed REITs and non-traded REITs, most notable are dividend distribution, capital formation, and how each invests. REAI actively manages a portfolio of 20-50 publicly traded REITs while aiming to provide similar risk and returns of non-traded REITs. Dividend distributions may be lower than those from non-traded REITs. However, the use of listed REITs may provide more safeguards to end investors. Utilizing a research-based investment approach, the funds assets will be allocated to resemble the geographic and thematic exposure of real estate private equity. Security selection and rebalancing decisions involve bottom-up analysis based on corporate profitability, balance sheet, and portfolio and property-level analytics. Up to 10% of the funds assets may be invested in mortgage-backed securities. Prior to Jan. 29, 2024, the fund was called Private Real Estate Strategy via Liquid REITs ETF with the ticker PRVT.

Grade (RS Rating)

Last Trade

$22.09

Average Daily Volume

273

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BYRE	REAI
30 Days	-0.57%	-2.15%
60 Days	-2.84%	-2.40%
90 Days	0.27%	0.37%
12 Months	18.65%	27.07%

11 Overlapping Holdings

Symbol	Grade	Weight in BYRE	Weight in REAI	Overlap
AMT	C	7.12%	1.44%	1.44%
CCI	C	1.79%	1.51%	1.51%
DRH	B	1.55%	1.64%	1.55%
EQIX	A	6.66%	1.68%	1.68%
GLPI	C	4.19%	1.55%	1.55%
INVH	D	6.12%	1.6%	1.6%
NHI	D	2.22%	1.59%	1.59%
RHP	B	1.97%	1.62%	1.62%
SBRA	C	4.26%	1.64%	1.64%
SUI	C	4.47%	1.54%	1.54%
VTR	B	8.53%	1.64%	1.64%

BYRE Overweight 11 Positions Relative to REAI

Symbol	Grade	Weight
EXR	C	5.61%
SBAC	D	5.11%
WELL	A	4.95%
COLD	D	4.69%
REXR	F	4.26%
VICI	C	4.18%
TRNO	F	4.14%
AMH	C	3.98%
DLR	B	3.08%
ARE	F	2.8%
VAC	C	1.09%

BYRE Underweight 49 Positions Relative to REAI

Symbol	Grade	Weight
CHCT	C	-1.83%
SLG	B	-1.8%
UE	B	-1.75%
LTC	B	-1.73%
CBL	B	-1.72%
BRX	A	-1.71%
ESS	B	-1.71%
NXRT	B	-1.71%
SKT	A	-1.7%
ELS	C	-1.7%
MAC	B	-1.7%
DEI	B	-1.69%
SPG	A	-1.68%
GOOD	B	-1.68%
OLP	B	-1.68%
APLE	B	-1.65%
KRC	B	-1.65%
AAT	B	-1.65%
MAA	B	-1.65%
FRT	B	-1.64%
UDR	B	-1.64%
CPT	B	-1.63%
XHR	B	-1.62%
AHH	D	-1.62%
OHI	C	-1.61%
UHT	D	-1.58%
BFS	C	-1.58%
HST	C	-1.58%
DOC	C	-1.58%
STAG	D	-1.57%
PDM	D	-1.57%
FR	D	-1.56%
PSA	C	-1.56%
CDP	C	-1.56%
ESRT	C	-1.55%
BXP	C	-1.55%
EGP	D	-1.55%
CUBE	C	-1.55%
LAMR	C	-1.54%
HIW	C	-1.53%
ALX	D	-1.53%
IRM	C	-1.51%
EPR	C	-1.49%
BDN	C	-1.47%
PLYM	F	-1.43%
NNN	C	-1.42%
IIPR	D	-1.28%
OPI	F	-0.99%
SVC	F	-0.96%