ROOF vs. FREL ETF Comparison

Comparison of IQ US Real Estate Small Cap ETF (ROOF) to Fidelity MSCI Real Estate Index ETF (FREL)

ROOF

IQ US Real Estate Small Cap ETF

ROOF Description

The investment seeks investment results that correspond generally to the price and yield performance of its underlying index, the IQ U.S. Real Estate Small Cap Index. The fund employs a "passive management" to track the performance of the underlying index, which was developed by Financial Development Holdco LLC ("IndexIQ"), the parent company of IndexIQ Advisors LLC, the fund's investment advisor (the "Advisor"). The underlying index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the small capitalization sector. It is non-diversified.

Grade (RS Rating)

Last Trade

$20.75

Average Daily Volume

99,157

Number of Holdings ^*

* 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

$29.04

Average Daily Volume

168,611

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

Performance

Period	ROOF	FREL
30 Days	-2.98%	-0.21%
60 Days	-5.92%	-1.57%
90 Days	-1.18%	1.70%
12 Months	14.63%	25.30%

42 Overlapping Holdings

Symbol	Grade	Weight in ROOF	Weight in FREL	Overlap
AIV	C	0.1%	0.07%	0.07%
AMH	C	1.2%	0.82%	0.82%
AMT	C	4.41%	6.08%	4.41%
ARE	F	1.61%	1.14%	1.14%
AVB	B	2.85%	2.16%	2.16%
CCI	C	4.3%	2.99%	2.99%
COLD	D	1.17%	0.4%	0.4%
CPT	B	1.11%	0.86%	0.86%
CSR	B	0.09%	0.07%	0.07%
CTRE	C	0.41%	0.28%	0.28%
DHC	F	0.05%	0.03%	0.03%
DLR	B	5.57%	3.77%	3.77%
DOC	C	1.27%	1.01%	1.01%
EGP	D	1.58%	0.56%	0.56%
ELME	D	0.12%	0.1%	0.1%
ELS	C	1.15%	0.85%	0.85%
EQIX	A	5.1%	5.7%	5.1%
EQR	C	2.44%	1.66%	1.66%
ESS	B	1.69%	1.3%	1.3%
FR	D	1.31%	0.47%	0.47%
INVH	D	1.81%	1.37%	1.37%
IRT	A	0.42%	0.32%	0.32%
LTC	B	0.14%	0.11%	0.11%
LXP	D	0.5%	0.19%	0.19%
MAA	B	1.63%	1.23%	1.23%
MPW	F	0.22%	0.17%	0.17%
NHI	D	0.3%	0.23%	0.23%
NXRT	B	0.1%	0.07%	0.07%
PLD	F	4.67%	7.1%	4.67%
PLYM	F	0.15%	0.06%	0.06%
REXR	F	1.73%	0.61%	0.61%
SBAC	D	4.48%	1.58%	1.58%
SBRA	C	0.37%	0.29%	0.29%
STAG	D	1.24%	0.45%	0.45%
SUI	C	1.36%	1.03%	1.03%
TRNO	F	1.1%	0.4%	0.4%
UDR	B	1.28%	0.93%	0.93%
UMH	B	0.12%	0.09%	0.09%
UNIT	B	4.25%	0.09%	0.09%
VRE	B	0.15%	0.09%	0.09%
VTR	B	2.3%	1.72%	1.72%
WELL	A	5.16%	5.08%	5.08%

ROOF Overweight 2 Positions Relative to FREL

	Symbol	Grade	Weight
	IIPR	D	0.54%
	SILA	C	0.12%

ROOF Underweight 98 Positions Relative to FREL

Symbol	Grade	Weight
SPG	A	-3.89%
PSA	C	-3.51%
O	C	-3.23%
CBRE	B	-2.71%
EXR	C	-2.32%
IRM	C	-2.22%
VICI	C	-2.18%
CSGP	D	-2.05%
WY	F	-1.5%
KIM	A	-1.12%
GLPI	C	-0.89%
REG	A	-0.86%
JLL	D	-0.84%
HST	C	-0.82%
WPC	C	-0.8%
Z	A	-0.79%
BXP	C	-0.79%
LAMR	C	-0.75%
CUBE	C	-0.72%
OHI	C	-0.65%
BRX	A	-0.58%
FRT	B	-0.56%
NNN	C	-0.51%
ADC	A	-0.51%
VNO	C	-0.46%
RHP	B	-0.43%
KRG	B	-0.4%
EPRT	B	-0.37%
SLG	B	-0.34%
CUZ	B	-0.32%
PECO	A	-0.31%
KRC	B	-0.29%
RYN	D	-0.28%
MAC	B	-0.28%
SKT	A	-0.26%
APLE	B	-0.24%
EPR	C	-0.23%
HIW	C	-0.23%
PK	C	-0.22%
NSA	C	-0.22%
PCH	F	-0.22%
CDP	C	-0.22%
BNL	D	-0.21%
DEI	B	-0.2%
UE	B	-0.19%
AKR	B	-0.18%
HHH	B	-0.18%
FCPT	C	-0.18%
OUT	A	-0.17%
COMP	B	-0.17%
CWK	C	-0.16%
ROIC	A	-0.15%
IVT	A	-0.15%
NMRK	C	-0.15%
EQC	B	-0.14%
SHO	D	-0.13%
DRH	B	-0.13%
JOE	F	-0.12%
XHR	B	-0.11%
GTY	A	-0.11%
ESRT	C	-0.1%
PEB	D	-0.1%
RLJ	C	-0.1%
GNL	F	-0.1%
PDM	D	-0.09%
JBGS	F	-0.09%
ALEX	B	-0.09%
AAT	B	-0.09%
NTST	C	-0.08%
KW	C	-0.08%
DEA	D	-0.08%
OPEN	F	-0.07%
RDFN	D	-0.07%
MMI	C	-0.07%
EXPI	D	-0.07%
AHH	D	-0.06%
PGRE	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	B	-0.03%
SVC	F	-0.03%
CLDT	B	-0.03%
PKST	F	-0.03%
BFS	C	-0.03%
HPP	F	-0.03%
CHCT	C	-0.03%
TRC	F	-0.02%
RMR	F	-0.02%
CBL	B	-0.02%