AREA vs. SRHR ETF Comparison

Comparison of Harbor AlphaEdge Next Generation REITs ETF (AREA) to SRH REIT Covered Call ETF (SRHR)

AREA

Harbor AlphaEdge Next Generation REITs ETF

AREA Description

AREA targetsNext Generation REITs through a proprietary rules-based methodology. Instead of traditional office, multi-family, retail, and industrial REITs, the fund favors non-traditional REITs (e.g., data center, gaming, healthcare & life sciences, hotel & motel, manufactured homes, and self-storage). From an index universe of 3,000 US-listed securities, the fund relies on FactSets RBICS sub-industry classification in filtering Next-Gen REITs. Each qualified company is scored across five factor composites (capital deployment, momentum, quality, risk, and valuation) for a combined stock selection score based on prevailing business cycle regimes. The index provider then selects and weights securities using an optimizer that measures the risk-adjusted returns of the portfolio against a benchmark with similar holdings. The fund holds between 35 and 70 REITs, subject to certain capping limits. The index is reconstituted and rebalanced monthly.

Grade (RS Rating)

Last Trade

$20.10

Average Daily Volume

222

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SRHR

SRH REIT Covered Call ETF

SRHR Description

Under normal circumstances, the fund invests at least 80% of its net assets in Real Estate Investment Trusts ("REITs") that are publicly traded on domestic stock exchanges. In addition, the fund strategically implements an option strategy consisting of writing (selling) U.S. exchange-traded covered call options on the REITs in the fund"s portfolio. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$59.53

Average Daily Volume

163

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AREA	SRHR
30 Days	-3.36%	-2.94%
60 Days		-2.45%
90 Days		2.41%
12 Months

10 Overlapping Holdings

Symbol	Grade	Weight in AREA	Weight in SRHR	Overlap
CCI	D	2.15%	4.18%	2.15%
DOC	B	2.52%	2.17%	2.17%
EXR	D	2.94%	3.78%	2.94%
GLPI	D	0.48%	1.11%	0.48%
HST	D	5.36%	3.33%	3.33%
INVH	F	0.93%	1.29%	0.93%
LAMR	B	7.21%	9.18%	7.21%
NSA	D	1.17%	2.76%	1.17%
SHO	D	2.86%	3.5%	2.86%
VICI	D	3.23%	3.09%	3.09%

AREA Overweight 24 Positions Relative to SRHR

Symbol	Grade	Weight
WY	F	6.92%
AMT	D	6.47%
SBAC	C	6.22%
CUBE	D	5.19%
IRM	B	4.04%
EPR	D	3.74%
SBRA	A	3.68%
RYN	C	3.62%
ELS	C	3.57%
DRH	D	3.42%
NHI	C	2.73%
OHI	A	2.57%
PSA	D	2.51%
LAND	F	2.34%
LTC	A	1.74%
PK	F	1.61%
OUT	B	1.4%
INN	F	1.03%
VTR	A	0.99%
DHC	C	0.49%
SILA	B	0.34%
BHR	D	0.3%
WELL	A	0.27%
XHR	C	0.25%

AREA Underweight 15 Positions Relative to SRHR

Symbol	Grade	Weight
EQIX	A	-13.47%
HIW	B	-7.67%
GNL	D	-4.34%
NXRT	D	-4.19%
STAG	D	-4.13%
FR	D	-4.09%
BRX	C	-3.26%
REXR	F	-3.24%
MTN	F	-3.15%
DEA	C	-2.93%
PLD	F	-2.89%
SUI	D	-2.59%
EGP	D	-2.4%
MAA	D	-2.27%
APLE	B	-2.04%