REZ
iSharesResidentialRealEstateCappedETF
ETF.comSegment:Equity:U.S.RealEstate
REZFundDescription
OverallRating
TheiSharesFTSENAREITResidentialPlusCappedETFtracksamarketcap-weightedindexof
USresidential,healthcareandself-storageREITs.
REZFactSetAnalyticsInsight
REZisostensiblyaresidentialrealestateETF,butinrealitythefundisagrabbagofREITs,
manyofwhichfalloutsideresidential
realestate.Asanexample,manytop
holdingsarenotresidentialREITsat
all.PublicStorageInc.—aself-storage
firm—makesup10%ofthefundby
itself,andseveralhealthcareREITs
alsolandnearthetopofthelist.Alltold,thefunddevotesawhopping50%ofitsweightto
specializedREITssuchashealthcareandhotelREITs.REZultimatelytracksamuddledindex
thatneitherprovidesthediversificationofatotalmarketrealestatefund,northetargeted
exposureofapurelyresidentialREITfund.REZcouldbethoughtofbestasanex-commercial
REITplay,whichcombinedwithitsdecentliquidityandefficiencyearnsitaspotonour
OpportunitiesList.
“ manytopholdingsarenot
residentialREITsatall ”
RatingDetails
B
86
73
73
asof09/30/16
97
SegmentAverage
REZSummaryData
Issuer
BlackRock
InceptionDate
05/01/07
LegalStructure
Open-EndedFund
ExpenseRatio
0.48%
AssetsUnderManagement
$475.79M
AverageDaily$Volume
REZIndexData
IndexTracked
FTSENAREITAllResidentialCappedIndex
IndexWeightingMethodology
IndexSelectionMethodology
SegmentBenchmark
REZPortfolioData
MarketCap
Price/EarningsRatio
MarketCap
Price/BookRatio
ThomsonReutersUSResidential&CommercialREITs
$2.67M
47.57
2.64
DistributionYield
3.93%
NextEx-DividendDate
12/21/16
RelatedETFstoREZ
TopCompetingETFs VNQ,IYR,RWR,SCHH,FRI
EFFICIENCY
REZPortfolioManagement
86
TotalReturns
1Year
30.0%
20.0%
ExpenseRatio
0.48%
MedianTrackingDifference(12Mo)
-0.24%
Max.UpsideDeviation(12Mo)
-0.08%
Max.DownsideDeviation(12Mo)
-0.62%
REZTaxExposures
MaxLT/STCapitalGainsRate 20.00%/39.60%
10.0%
CapitalGainsDistributions(3Year)
TaxonDistributions
0.0%
--
Ordinaryincome
DistributesK1
No
REZFundStructure
LegalStructure
Nov
Jan2016
Performance
Mar
1Month
May
3Month
YTD
Jul
1Year
3Years
Sep
5Years
10Years
REZ
0.85%
-0.05%
7.95%
17.36% 15.13% 14.85%
--
REZ(NAV)
0.84%
-0.05%
8.03%
17.34% 15.12% 14.76%
--
0.89%
0.13%
8.08%
17.56% 15.51% 15.21%
--
ThomsonReutersUS
-0.84%
Residential&CommercialREITs
0.75%
13.10% 22.00% 13.38% 13.95%
--
FTSENAREITAllResidential
CappedIndex
Open-EndedFund
OTCDerivativeUse
SecuritiesLendingActive
SecuritiesLendingSplit(Fund/Issuer)
ETNCounterparty
No
Yes
70%/30%
N/A
ETNCounterpartyRisk
N/A
FundClosureRisk
Low
PortfolioDisclosure
Daily
Allreturnsover1yearareannualiz ed.Allreturnsaretotalreturnsunlessotherwisestated.
|iS haresResidentialRealEstateCappedETF|01Oc tober2016
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TRADABILITY
97
REZFactSetAnalyticsBlockLiquidity
AVERAGESPREAD
5
0.13%
4
0.10%
2
0.04%
1
0.01%
PREMIUM/DISCOUNT
3
0.07%
0.3%
0.0%
Thismeasurementshows
howeasyitistotrade
25,000sharesofREZ.REZ
israteda5outof5.
REZTradability
Avg.DailyShareVolume
40,189
AverageDaily$Volume
$2.67M
MedianDailyShareVolume
31,025
MedianDailyVolume($)
-0.3%
-0.5%
$2.06M
AverageSpread(%)
0.06%
AverageSpread($)
$0.04
MedianPremium/Discount(12Mo)
0.01%
Max.Premium/Discount(12Mo)
VOLUME
800K
600K
OCT
`16
APR
JUL
0.15%/-0.26%
ImpedimenttoCreations
400K
MarketHoursOverlap
200K
CreationUnitSize(Shares)
None
100.00%
50,000
CreationUnit/Day(45DayAverage)
`16
0.62
CreationUnitCost(%)
0.01%
UnderlyingVolume/Unit
0%
OpenInterestonETFOptions
335
NetAssetValue(Yesterday)
$66.30
ETF.comImpliedLiquidity
5
FIT
REZBenchmarkComparison
73
REZSector/IndustryBreakdown
S ec tor
REZTop10Holdings
REZ Benc hmark
PublicStorage
10.99%
REZ
43Holdings
SharedHoldings
38(Count)
SpecializedREITs
52.46%
38.62%
Welltower,Inc.
8.97%
ResidentialREITs
45.82%
12.71%
Ventas,Inc.
8.17%
DiversifiedREITs
1.72%
0.58%
AvalonBayCommunities,Inc.
8.10%
EquityResidential
7.80%
Large
HCP,Inc.
4.95%
(>12.9B)
EssexPropertyTrust,Inc.
4.64%
ExtraSpaceStorageInc.
3.77%
UDR,Inc.
3.72%
Mic ro
Mid-AmericaApartmentCommunities,Inc.
2.94%
(<600M)
TotalTop10Weighting
64.06%
REZGeographicExposure
Countries
UnitedStates
REZ
100.00%
Benc hmark
100.00%
Regions
REZ
Benc hmark
NorthAmerica
100.00%
Developed/
100.00%/ 100.00%/
EmergingSplit
0.00%
100.00%
0.00%
Benchmark
181Constituents
99.46%(Weight)
REZ
WeightedAverage
MarketCap
Benchmark
17.77B
20.83B
53.62%
53.33%
41.47%
37.82%
4.24%
8.22%
0.67%
0.63%
Price/Earnings
Ratio
Price/BookRatio
47.57
51.17
2.64
2.58
DividendYield
3.56%
3.77%
NumberOf
Holdings
Concentration
43
181
High
Medium
SizeSplit
Mid(>2.7B)
S mall
(>600M)
REZPerformanceStatistics
GoodnessofFit(R 2)
0.88
Beta
1.03
UpBeta
1.00
DownBeta
DownsideStandardDeviation
1.05
0.39%
SegmentBenchmark
|iS haresResidentialRealEstateCappedETF|01Oc tober2016
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ThomsonReutersUSResidential&
CommercialREITs
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INFORMATION,PRODUCTSORSERVICESCONTAINEDHEREIN.PASTPERFORMANCEISNOTINDICATIVEOFFUTURERESULTS.
Dataprovider:FactSetResearchSystems,Inc.
OpportunitiesList:ThisETFrepresentsauniqueoralternativetakeonthesegment,andinvestorsmaywanttotakeacloserlook.
|iS haresResidentialRealEstateCappedETF|01Oc tober2016
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