DESK vs. FPRO ETF Comparison

Comparison of VanEck Office and Commercial REIT ETF (DESK) to Fidelity Real Estate Investment ETF (FPRO)

DESK

VanEck Office and Commercial REIT ETF

DESK Description

The fund normally invests at least 80% of its total assets in Office and Commercial Real Estate Companies. The index is comprised of equity securities of Office and Commercial Real Estate Companies and is intended to give investors a means of tracking the overall performance of U.S exchange-listed real estate investment trusts (REITs) involved in the office and commercial real estate markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.30

Average Daily Volume

619

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPRO

Fidelity Real Estate Investment ETF

FPRO Description

The investment seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and is not required to publicly disclose its complete portfolio holdings each business day. The fund normally invests at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. It invests in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.38

Average Daily Volume

5,949

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DESK	FPRO
30 Days	-0.67%	-0.69%
60 Days	3.03%	-4.68%
90 Days	11.48%	2.83%
12 Months	39.01%	20.76%

3 Overlapping Holdings

Symbol	Grade	Weight in DESK	Weight in FPRO	Overlap
KIM	A	2.49%	3.9%	2.49%
PLD	D	3.19%	10.01%	3.19%
REG	A	1.73%	0.92%	0.92%

DESK Overweight 21 Positions Relative to FPRO

Symbol	Grade	Weight
VNO	C	11.98%
BXP	D	9.89%
KRC	C	8.73%
SLG	C	8.66%
CUZ	C	6.44%
CDP	C	6.41%
EQC	C	4.51%
DEI	C	4.4%
HIW	D	4.4%
SPG	B	3.93%
O	D	3.29%
ESRT	D	2.71%
PDM	D	2.51%
AAT	C	2.47%
DEA	D	2.33%
PGRE	B	1.96%
WPC	F	1.85%
JBGS	F	1.54%
BDN	D	1.51%
HPP	F	1.07%
REXR	F	0.96%

DESK Underweight 37 Positions Relative to FPRO

Symbol	Grade	Weight
AMT	F	-9.56%
EQIX	B	-7.21%
PSA	C	-5.89%
VTR	C	-5.69%
WELL	B	-5.23%
CBRE	A	-4.11%
NNN	F	-3.78%
UDR	C	-3.51%
CUBE	D	-3.33%
DLR	C	-3.31%
EQR	C	-2.75%
SUI	D	-2.69%
COLD	F	-2.21%
CCI	F	-2.18%
AMH	C	-2.09%
MAA	C	-2.02%
EXR	D	-1.92%
INVH	D	-1.57%
CSGP	D	-1.36%
UE	B	-1.36%
LAMR	D	-1.29%
SBAC	D	-1.17%
CPT	C	-1.08%
STAG	D	-1.07%
FCPT	C	-0.84%
PECO	A	-0.77%
TRNO	D	-0.73%
SKT	B	-0.68%
WY	F	-0.64%
COMP	B	-0.55%
RHP	B	-0.45%
ELME	D	-0.42%
ELS	C	-0.4%
MAC	B	-0.34%
AKR	C	-0.24%
IVT	B	-0.09%
DRH	B	-0.02%