JRE vs. AREA ETF Comparison

Comparison of Janus Henderson U.S. Real Estate ETF (JRE) to Harbor AlphaEdge Next Generation REITs ETF (AREA)

JRE

Janus Henderson U.S. Real Estate ETF

JRE Description

An actively managed equity Portfolio that seeks compelling outperformance by investing in REITs and real estate related businesses. Our emphasis on local property market knowledge combined with a repeatable, disciplined investment process seeks to provide defensive growth, diversification relative to broad equities and fixed income, and dividends for investors.

Grade (RS Rating)

Last Trade

$25.49

Average Daily Volume

835

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

$20.14

Average Daily Volume

178

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	JRE	AREA
30 Days	-0.93%	-1.86%
60 Days	-2.23%	-4.63%
90 Days	1.84%
12 Months	24.10%

4 Overlapping Holdings

Symbol	Grade	Weight in JRE	Weight in AREA	Overlap
ELS	C	3.69%	3.81%	3.69%
PSA	D	8.38%	2.59%	2.59%
SBAC	D	2.28%	6.1%	2.28%
SBRA	C	2.79%	3.64%	2.79%

JRE Overweight 17 Positions Relative to AREA

Symbol	Grade	Weight
EQIX	A	10.68%
WELL	A	8.53%
O	D	7.6%
PLD	D	5.42%
AVB	B	5.12%
AMH	D	4.35%
UDR	B	4.09%
EGP	F	3.97%
FRT	B	3.9%
FR	C	3.68%
BXP	D	3.37%
MAC	B	3.01%
RHP	B	2.64%
STAG	F	2.46%
KRC	C	2.03%
CBRE	B	1.92%
WH	B	1.91%

JRE Underweight 29 Positions Relative to AREA

Symbol	Grade	Weight
WY	D	-7.01%
LAMR	D	-6.89%
AMT	D	-6.24%
EXR	D	-6.05%
HST	C	-5.76%
CUBE	D	-5.4%
IRM	D	-3.75%
EPR	D	-3.65%
DRH	B	-3.58%
RYN	D	-3.56%
VICI	C	-3.24%
SHO	C	-2.87%
NHI	D	-2.8%
OHI	C	-2.55%
DOC	D	-2.5%
LAND	F	-2.21%
PK	B	-1.74%
OUT	A	-1.5%
SILA	C	-1.26%
NSA	D	-1.21%
LTC	B	-1.13%
INN	D	-1.06%
VTR	C	-1.0%
CCI	D	-0.71%
GLPI	C	-0.48%
INVH	D	-0.42%
XHR	B	-0.26%
PEB	D	-0.25%
DHC	F	-0.19%