NIXT vs. FREL ETF Comparison

Comparison of Research Affiliates Deletions ETF (NIXT) to Fidelity MSCI Real Estate Index ETF (FREL)

NIXT

Research Affiliates Deletions ETF

NIXT Description

The index consists of U.S. equity securities of micro-, small- and mid- capitalization companies that are believed to be value stocks. Under normal circumstances, at least 80% of the fund"s total assets (exclusive of collateral held from securities lending) will be invested in U.S. equity securities of micro-, small- and mid- companies.

Grade (RS Rating)

Last Trade

$27.29

Average Daily Volume

41,419

Number of Holdings ^*

137

* may have additional holdings in another (foreign) market

FREL

Fidelity MSCI Real Estate Index ETF

FREL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the fund&#39;s underlying index. The fund&#39;s underlying index is the MSCI USA IMI Real Estate Index, which represents the performance of the real estate sector in the U.S. equity market. The fund may or may not hold all of the securities in the MSCI USA IMI Real Estate Index.

Grade (RS Rating)

Last Trade

$29.13

Average Daily Volume

168,084

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

Performance

Period	NIXT	FREL
30 Days	5.30%	-0.24%
60 Days	4.25%	-1.75%
90 Days		2.47%
12 Months		26.25%

17 Overlapping Holdings

Symbol	Grade	Weight in NIXT	Weight in FREL	Overlap
APLE	B	0.66%	0.24%	0.24%
BXP	D	0.82%	0.79%	0.79%
DEI	B	0.87%	0.2%	0.2%
ELS	C	0.75%	0.85%	0.75%
EPR	D	0.69%	0.23%	0.23%
EQC	B	0.68%	0.14%	0.14%
FRT	B	0.69%	0.56%	0.56%
HIW	D	0.77%	0.23%	0.23%
HST	C	0.58%	0.82%	0.58%
JBGS	D	0.65%	0.09%	0.09%
MAC	B	0.89%	0.28%	0.28%
OUT	A	0.75%	0.17%	0.17%
PK	B	0.56%	0.22%	0.22%
REG	B	0.79%	0.86%	0.79%
SLG	B	1.0%	0.34%	0.34%
SVC	F	0.27%	0.03%	0.03%
VNO	B	1.0%	0.46%	0.46%

NIXT Overweight 120 Positions Relative to FREL

Symbol	Grade	Weight
LUMN	C	4.02%
TDS	B	1.29%
AFRM	B	1.25%
LITE	B	1.19%
HBI	B	1.18%
FTDR	A	1.15%
LBRDK	C	1.13%
BFH	B	1.13%
SIRI	C	1.08%
ACIW	B	1.02%
DNLI	D	1.0%
CHRW	C	0.99%
OMCL	C	0.98%
SNDR	B	0.96%
BKU	A	0.96%
VFC	C	0.95%
GEN	B	0.93%
UAA	C	0.86%
CMA	A	0.85%
SMTC	B	0.82%
NRG	B	0.82%
MKTX	D	0.81%
AMBA	B	0.81%
FHB	A	0.81%
PNM	F	0.81%
SABR	C	0.8%
LOPE	B	0.8%
EQH	B	0.8%
PNW	B	0.8%
CCOI	B	0.8%
LNC	B	0.79%
FNF	B	0.78%
MSGS	A	0.77%
RL	B	0.77%
TNL	A	0.76%
SHC	F	0.75%
UHS	D	0.75%
OGS	A	0.75%
PAYC	B	0.75%
MASI	A	0.75%
BIO	D	0.74%
JWN	C	0.74%
TFSL	A	0.74%
RNG	B	0.74%
KMX	B	0.73%
VYX	B	0.73%
DBX	B	0.73%
RIVN	F	0.72%
ALLY	C	0.72%
MP	B	0.72%
CRUS	D	0.72%
ZD	C	0.7%
SAM	C	0.7%
CNA	B	0.7%
NWL	B	0.7%
DXC	B	0.69%
EMN	D	0.69%
HE	C	0.68%
FL	F	0.68%
AVT	C	0.68%
ALE	A	0.68%
CTLT	B	0.67%
JBLU	F	0.67%
PINC	B	0.67%
NVST	B	0.66%
YETI	C	0.66%
JKHY	D	0.65%
CAR	C	0.64%
SPR	D	0.63%
HAS	D	0.63%
IAC	D	0.63%
GAP	C	0.63%
HLF	C	0.62%
MTCH	D	0.62%
FMC	D	0.61%
CABO	C	0.61%
NEU	C	0.61%
AMED	F	0.61%
NOMD	D	0.6%
PARA	C	0.59%
ASAN	C	0.59%
RAMP	C	0.58%
NGVT	B	0.58%
HAE	C	0.58%
VAC	B	0.58%
TFX	F	0.57%
SGRY	F	0.57%
NOV	C	0.56%
HP	B	0.54%
AZTA	D	0.54%
ARWR	F	0.53%
PLUG	F	0.53%
HTZ	C	0.51%
ENOV	C	0.51%
CBRL	C	0.51%
MOS	F	0.51%
IART	C	0.5%
VIR	D	0.5%
LCID	F	0.5%
BMBL	C	0.49%
HELE	C	0.46%
ETSY	D	0.46%
CRI	D	0.46%
AEO	F	0.45%
MQ	F	0.44%
NSP	D	0.44%
BBWI	D	0.43%
ACLS	F	0.43%
KSS	F	0.43%
ZI	D	0.42%
XRX	F	0.4%
NTLA	F	0.39%
CVI	F	0.39%
XRAY	F	0.39%
LEG	F	0.39%
MRVI	F	0.37%
QRVO	F	0.35%
TRIP	F	0.32%
SAGE	F	0.22%
AGL	F	0.19%

NIXT Underweight 123 Positions Relative to FREL

Symbol	Grade	Weight
PLD	D	-7.1%
AMT	D	-6.08%
EQIX	A	-5.7%
WELL	A	-5.08%
SPG	B	-3.89%
DLR	B	-3.77%
PSA	D	-3.51%
O	D	-3.23%
CCI	D	-2.99%
CBRE	B	-2.71%
EXR	D	-2.32%
IRM	D	-2.22%
VICI	C	-2.18%
AVB	B	-2.16%
CSGP	D	-2.05%
VTR	C	-1.72%
EQR	B	-1.66%
SBAC	D	-1.58%
WY	D	-1.5%
INVH	D	-1.37%
ESS	B	-1.3%
MAA	B	-1.23%
ARE	D	-1.14%
KIM	A	-1.12%
SUI	D	-1.03%
DOC	D	-1.01%
UDR	B	-0.93%
GLPI	C	-0.89%
CPT	B	-0.86%
JLL	D	-0.84%
AMH	D	-0.82%
WPC	D	-0.8%
Z	A	-0.79%
LAMR	D	-0.75%
CUBE	D	-0.72%
OHI	C	-0.65%
REXR	F	-0.61%
BRX	A	-0.58%
EGP	F	-0.56%
NNN	D	-0.51%
ADC	B	-0.51%
FR	C	-0.47%
STAG	F	-0.45%
RHP	B	-0.43%
TRNO	F	-0.4%
COLD	D	-0.4%
KRG	B	-0.4%
EPRT	B	-0.37%
CUZ	B	-0.32%
IRT	A	-0.32%
PECO	A	-0.31%
SBRA	C	-0.29%
KRC	C	-0.29%
CTRE	D	-0.28%
RYN	D	-0.28%
SKT	B	-0.26%
NHI	D	-0.23%
NSA	D	-0.22%
PCH	D	-0.22%
CDP	C	-0.22%
BNL	D	-0.21%
UE	C	-0.19%
LXP	D	-0.19%
AKR	B	-0.18%
HHH	B	-0.18%
FCPT	C	-0.18%
MPW	F	-0.17%
COMP	B	-0.17%
CWK	B	-0.16%
ROIC	A	-0.15%
IVT	B	-0.15%
NMRK	B	-0.15%
SHO	C	-0.13%
DRH	B	-0.13%
JOE	F	-0.12%
XHR	B	-0.11%
GTY	B	-0.11%
LTC	B	-0.11%
ELME	D	-0.1%
ESRT	C	-0.1%
PEB	D	-0.1%
RLJ	C	-0.1%
GNL	F	-0.1%
PDM	D	-0.09%
UNIT	B	-0.09%
VRE	B	-0.09%
ALEX	C	-0.09%
UMH	C	-0.09%
AAT	B	-0.09%
NTST	D	-0.08%
KW	B	-0.08%
DEA	D	-0.08%
OPEN	D	-0.07%
AIV	C	-0.07%
NXRT	B	-0.07%
CSR	B	-0.07%
RDFN	D	-0.07%
MMI	B	-0.07%
EXPI	C	-0.07%
AHH	D	-0.06%
PGRE	F	-0.06%
PLYM	F	-0.06%
BDN	C	-0.06%
INN	D	-0.05%
FOR	F	-0.05%
WSR	A	-0.05%
GOOD	B	-0.05%
FPI	B	-0.04%
ALX	D	-0.04%
UHT	D	-0.04%
GMRE	F	-0.04%
OLP	B	-0.04%
LAND	F	-0.03%
FRPH	A	-0.03%
DHC	F	-0.03%
CLDT	B	-0.03%
PKST	D	-0.03%
BFS	C	-0.03%
HPP	F	-0.03%
CHCT	C	-0.03%
TRC	F	-0.02%
RMR	F	-0.02%
CBL	A	-0.02%