DESK vs. PSR ETF Comparison

Comparison of VanEck Office and Commercial REIT ETF (DESK) to PowerShares Active U.S. Real Estate Fund (PSR)

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

$43.80

Average Daily Volume

624

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PSR

PowerShares Active U.S. Real Estate Fund

PSR Description

The PowerShares Active U.S. Real Estate Fund (Fund) structures and selects its investments primarily from a universe of securities that are included within the FTSE NAREIT All Equity REITs Index at the time of purchase. The selection methodology uses quantitative and statistical metrics to identify attractively priced securities and manage risk. The Fund will invest principally in equity real estate investment trusts (REITs). The Fund is rebalanced and reconstituted monthly.

Grade (RS Rating)

Last Trade

$95.21

Average Daily Volume

2,923

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	DESK	PSR
30 Days	-5.45%	-3.61%
60 Days	-0.14%	-4.05%
90 Days	9.63%	3.74%
12 Months	39.18%	18.62%

7 Overlapping Holdings

Symbol	Grade	Weight in DESK	Weight in PSR	Overlap
ESRT	D	2.71%	2.05%	2.05%
KIM	A	2.49%	2.66%	2.49%
KRC	C	8.73%	2.69%	2.69%
O	D	3.29%	4.29%	3.29%
PLD	D	3.19%	3.73%	3.19%
REXR	F	0.96%	2.1%	0.96%
SPG	A	3.93%	3.28%	3.28%

DESK Overweight 17 Positions Relative to PSR

Symbol	Grade	Weight
VNO	B	11.98%
BXP	D	9.89%
SLG	B	8.66%
CUZ	B	6.44%
CDP	C	6.41%
EQC	A	4.51%
DEI	B	4.4%
HIW	D	4.4%
PDM	D	2.51%
AAT	C	2.47%
DEA	D	2.33%
PGRE	C	1.96%
WPC	D	1.85%
REG	A	1.73%
JBGS	D	1.54%
BDN	D	1.51%
HPP	F	1.07%

DESK Underweight 22 Positions Relative to PSR

Symbol	Grade	Weight
WELL	A	-8.85%
EQIX	B	-8.8%
AMT	D	-6.27%
BRX	A	-4.99%
EQR	C	-4.61%
SBAC	D	-4.47%
DLR	A	-4.24%
INVH	D	-3.68%
CUBE	C	-3.47%
PSA	C	-3.25%
CCI	D	-3.24%
ELS	B	-3.1%
ADC	A	-3.03%
DOC	D	-2.7%
GLPI	D	-2.33%
EGP	D	-2.32%
RYN	D	-2.25%
ARE	D	-2.2%
FR	D	-1.94%
EPRT	C	-1.47%
RLJ	C	-1.01%
CPT	D	-0.97%