FRI vs. REK ETF Comparison

Comparison of First Trust S&P REIT Index Fund (FRI) to ProShares Short Real Estate (REK)

FRI

First Trust S&P REIT Index Fund

FRI Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the S&P United States REIT Index. The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The index is a subset of the S&P Developed REIT Index, which measures the performance of more than 200 REITs or REIT-like structures in 15 developed markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.68

Average Daily Volume

24,213

Number of Holdings ^*

126

* may have additional holdings in another (foreign) market

REK

ProShares Short Real Estate

REK Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. Real EstateSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the real estate sector of the U.S. equity market. Component companies include, among others, real estate holding and development and real estate services companies and real estate investment trusts ("REITs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$18.97

Average Daily Volume

28,588

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FRI	REK
30 Days	6.92%	-6.55%
60 Days	1.33%	0.87%
90 Days	1.58%	-0.19%
12 Months	10.44%	-3.73%

65 Overlapping Holdings

Symbol	Grade	Weight in FRI	Weight in REK	Overlap
AIV	C	0.11%	0.61%	0.11%
AMH	B	1.14%	0.54%	0.54%
APLE	F	0.31%	0.26%	0.26%
ARE	C	1.85%	1.46%	1.46%
AVB	B	2.75%	2.35%	2.35%
BDN	C	0.08%	0.22%	0.08%
BRX	C	0.66%	0.48%	0.48%
BXP	C	0.86%	1.56%	0.86%
COLD	D	0.61%	0.53%	0.53%
CPT	B	1.11%	0.83%	0.83%
CUBE	C	0.93%	0.47%	0.47%
CUZ	B	0.36%	0.48%	0.36%
DEI	C	0.23%	0.54%	0.23%
DLR	C	4.23%	2.02%	2.02%
DOC	B	1.35%	1.4%	1.35%
EGP	F	0.77%	0.41%	0.41%
ELS	D	1.16%	1.0%	1.0%
EPR	C	0.31%	0.44%	0.31%
EQC	C	0.2%	0.31%	0.2%
EQIX	D	6.47%	3.91%	3.91%
EQR	B	2.27%	2.24%	2.24%
ESS	B	1.63%	1.59%	1.59%
EXR	C	2.96%	1.13%	1.13%
FR	F	0.62%	0.42%	0.42%
FRT	C	0.75%	0.71%	0.71%
GLPI	C	1.17%	0.72%	0.72%
HIW	C	0.28%	0.41%	0.28%
HPP	F	0.07%	0.45%	0.07%
HST	D	1.28%	1.0%	1.0%
INVH	B	1.99%	1.28%	1.28%
IRM	B	2.27%	0.7%	0.7%
JBGS	F	0.13%	0.37%	0.13%
KIM	C	1.25%	0.67%	0.67%
KRC	C	0.36%	0.63%	0.36%
LXP	D	0.25%	0.21%	0.21%
MAA	C	1.54%	1.19%	1.19%
MAC	C	0.34%	0.22%	0.22%
MPW	C	0.27%	0.9%	0.27%
NHI	B	0.28%	0.29%	0.28%
NNN	B	0.76%	0.74%	0.74%
O	C	4.53%	1.94%	1.94%
OHI	C	0.75%	0.74%	0.74%
PDM	C	0.08%	0.23%	0.08%
PEB	C	0.17%	0.26%	0.17%
PGRE	C	0.08%	0.22%	0.08%
PK	D	0.33%	0.46%	0.33%
PLD	F	9.73%	4.64%	4.64%
PSA	C	4.24%	2.58%	2.58%
REG	D	0.96%	0.82%	0.82%
REXR	F	0.94%	0.41%	0.41%
RHP	D	0.62%	0.37%	0.37%
RLJ	F	0.16%	0.23%	0.16%
SBRA	C	0.34%	0.33%	0.33%
SHO	D	0.21%	0.24%	0.21%
SLG	C	0.33%	0.58%	0.33%
SPG	C	4.68%	3.53%	3.53%
SUI	F	1.45%	1.12%	1.12%
SVC	F	0.09%	0.31%	0.09%
UDR	C	1.15%	1.08%	1.08%
VICI	C	3.01%	0.76%	0.76%
VNO	F	0.38%	0.83%	0.38%
VTR	B	1.9%	1.71%	1.71%
WELL	A	5.12%	2.73%	2.73%
WPC	C	1.24%	1.12%	1.12%
XHR	C	0.15%	0.18%	0.15%

FRI Overweight 61 Positions Relative to REK

Symbol	Grade	Weight
STAG	C	0.63%
ADC	C	0.58%
AIRC	A	0.55%
TRNO	F	0.5%
KRG	D	0.46%
EPRT	B	0.42%
PECO	F	0.4%
IRT	C	0.37%
CTRE	C	0.32%
SKT	D	0.3%
IIPR	B	0.3%
NSA	C	0.28%
BNL	C	0.28%
SITC	B	0.25%
FCPT	C	0.22%
UE	C	0.2%
DRH	F	0.18%
IVT	C	0.17%
AKR	B	0.17%
ROIC	D	0.16%
GTY	C	0.14%
LTC	B	0.14%
GNL	D	0.14%
NTST	C	0.12%
ALEX	C	0.12%
ESRT	C	0.12%
AAT	B	0.11%
DEA	C	0.11%
UMH	B	0.1%
CSR	C	0.1%
UNIT	F	0.09%
NXRT	C	0.08%
AHH	C	0.07%
PLYM	D	0.07%
WSR	B	0.06%
GOOD	A	0.06%
CHCT	F	0.06%
INN	D	0.06%
BFS	C	0.05%
UHT	D	0.05%
FPI	C	0.05%
DHC	F	0.05%
PKST	F	0.05%
ALX	C	0.05%
GMRE	D	0.05%
CBL	D	0.05%
CTO	A	0.04%
OLP	B	0.04%
CLDT	F	0.04%
LAND	D	0.04%
PSTL	C	0.03%
FSP	F	0.02%
CIO	C	0.02%
PINE	C	0.02%
NXDT	F	0.02%
BRT	C	0.02%
ILPT	C	0.02%
CLPR	F	0.01%
OPI	D	0.01%
BHR	C	0.01%
AHT	D	0.0%

FRI Underweight 22 Positions Relative to REK

Symbol	Grade	Weight
AMT	C	-8.05%
CCI	C	-4.7%
SBAC	F	-2.21%
CSGP	D	-1.85%
WY	F	-1.8%
CBRE	C	-1.59%
NLY	B	-1.08%
AGNC	A	-0.77%
JLL	B	-0.69%
LAMR	B	-0.62%
STWD	B	-0.56%
HHH	F	-0.42%
BXMT	F	-0.39%
HR	C	-0.36%
TWO	B	-0.32%
OUT	D	-0.32%
RYN	F	-0.32%
CIM	D	-0.31%
DSS	F	-0.28%
MFA	C	-0.28%
PCH	D	-0.23%
IVR	C	-0.19%