CUT vs. AREA ETF Comparison

Comparison of Invesco MSCI Global Timber ETF (CUT) to Harbor AlphaEdge Next Generation REITs ETF (AREA)

CUT

Invesco MSCI Global Timber ETF

CUT Description

The investment seeks investment results that correspond generally to the performance, before the fund's fees and expenses, of an equity index called the Beacon Global Timber Index. The fund will invest at least 90% of its total assets in common stock, American depositary receipts ("ADRs") and global depositary receipts ("GDRs") that comprise the index and depositary receipts representing common stocks included in the index (or underlying securities representing the ADRs and GDRs included in the index). It generally will invest in all of the securities comprising the index in proportion to their weightings in the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.15

Average Daily Volume

2,901

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

$20.01

Average Daily Volume

182

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CUT	AREA
30 Days	0.31%	-1.81%
60 Days	-1.86%	-4.28%
90 Days	-0.90%
12 Months	14.08%

2 Overlapping Holdings

	Symbol	Grade	Weight in CUT	Weight in AREA	Overlap
	RYN	D	2.12%	3.56%	2.12%
	WY	F	5.15%	7.01%	5.15%

CUT Overweight 16 Positions Relative to AREA

Symbol	Grade	Weight
IP	A	6.03%
PKG	A	6.01%
SW	A	5.88%
AMCR	C	4.74%
AVY	F	4.73%
GPK	C	4.39%
LPX	B	3.65%
SEE	C	2.61%
WFG	C	2.59%
SON	F	2.49%
PCH	D	1.68%
SLVM	B	1.48%
PTVE	B	0.28%
CLW	F	0.21%
PACK	B	0.15%
MERC	F	0.13%

CUT Underweight 31 Positions Relative to AREA

Symbol	Grade	Weight
LAMR	C	-6.89%
AMT	C	-6.24%
SBAC	D	-6.1%
EXR	C	-6.05%
HST	C	-5.76%
CUBE	C	-5.4%
ELS	C	-3.81%
IRM	C	-3.75%
EPR	C	-3.65%
SBRA	C	-3.64%
DRH	B	-3.58%
VICI	C	-3.24%
SHO	D	-2.87%
NHI	D	-2.8%
PSA	C	-2.59%
OHI	C	-2.55%
DOC	C	-2.5%
LAND	F	-2.21%
PK	C	-1.74%
OUT	A	-1.5%
SILA	C	-1.26%
NSA	C	-1.21%
LTC	B	-1.13%
INN	D	-1.06%
VTR	B	-1.0%
CCI	C	-0.71%
GLPI	C	-0.48%
INVH	D	-0.42%
XHR	B	-0.26%
PEB	D	-0.25%
DHC	F	-0.19%

CUT: Top Represented Industries & Keywords

Industries: Packaging & Containers Lumber & Wood Production Paper & Paper Products Building Materials Business Equipment Conglomerates REIT - Diversified