PPTY vs. HIPS ETF Comparison

Comparison of PPTY U.S. Diversified Real Estate ETF (PPTY) to Master Income ETF (HIPS)

PPTY

PPTY U.S. Diversified Real Estate ETF

PPTY Description

The investment seeks to track the performance, before fees and expenses, of the PPTYX - U.S. Diversified Real Estate Index¿ (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the index. The index was developed in 2017 by the fund's index provider and an affiliate of the fund's sub-adviser, and uses a rules-based methodology to provide diversified exposure to the liquid U.S. real estate market.

Grade (RS Rating)

Last Trade

$28.63

Average Daily Volume

8,228

Number of Holdings ^*

* may have additional holdings in another (foreign) market

HIPS

Master Income ETF

HIPS Description

The Master Income ETF seeks to track the total return performance, before fees and expenses, of the TFMS HIPS 300 Index. The Index is constructed to capture 300 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) mortgage real estate investment trusts (“REITs”), (iii) commercial equity REITs, (iv) residential/diversified REITs, (v) asset management and business development companies (“BDCs”), and (vi) energy production and energy transportation & processing companies. Energy-related companies included in the Index are expected to primarily be structured as master limited partnerships (“MLPs”). CEFs included in the Index are limited to taxable, debt-based funds and may include CEFs that invest primarily in bank loans, high-yield securities (also known as “junk bonds”), foreign securities (including those in emerging markets), and mortgage- or asset-backed securities. The Index is constituted using proprietary methodology developed by Trust and Fiduciary Management Services, Inc. The Index Provider determines the relative weightings of the securities in the Index and publishes information regarding the market value of the Index.

Grade (RS Rating)

Last Trade

$12.58

Average Daily Volume

26,397

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PPTY	HIPS
30 Days	-4.79%	-1.36%
60 Days	-3.10%	2.04%
90 Days	-0.87%	3.55%
12 Months	7.34%	18.02%

5 Overlapping Holdings

Symbol	Grade	Weight in PPTY	Weight in HIPS	Overlap
GTY	B	0.85%	2.26%	0.85%
LTC	A	0.31%	2.39%	0.31%
NNN	B	0.1%	2.26%	0.1%
OHI	B	0.62%	2.41%	0.62%
SBRA	B	0.29%	2.31%	0.29%

PPTY Overweight 86 Positions Relative to HIPS

Symbol	Grade	Weight
AVB	A	4.09%
EQIX	D	3.51%
PLD	F	3.37%
FCPT	C	3.3%
EQR	A	3.14%
SPG	C	2.96%
DLR	C	2.91%
DEA	B	2.87%
AMH	B	2.71%
WELL	A	2.43%
TRNO	D	2.35%
KRC	D	2.31%
ARE	D	2.18%
MAR	C	2.18%
UDR	A	2.12%
MAA	B	2.11%
ESS	A	2.04%
HIW	A	1.87%
REG	D	1.79%
HLT	C	1.71%
FRT	A	1.66%
COLD	F	1.63%
BXP	C	1.63%
AAT	A	1.55%
STAG	D	1.48%
CPT	A	1.48%
IIPR	A	1.39%
CUZ	B	1.35%
ESRT	D	1.29%
KIM	D	1.27%
DOC	A	1.26%
WPC	D	1.25%
VTR	A	1.2%
CSR	A	1.19%
SKT	B	1.19%
AIRC	A	1.14%
EGP	F	1.12%
AHH	B	1.02%
KRG	A	1.0%
SUI	D	0.98%
INVH	B	0.97%
LXP	D	0.94%
SLG	B	0.85%
DBRG	D	0.81%
PSA	D	0.79%
H	C	0.79%
EQC	D	0.78%
PECO	D	0.78%
ELS	F	0.7%
HST	C	0.68%
SITC	C	0.62%
EXR	C	0.57%
ADC	B	0.56%
FR	D	0.55%
NTST	D	0.54%
RHP	D	0.52%
WH	D	0.48%
CHH	D	0.47%
NHI	A	0.46%
CTRE	A	0.42%
APLE	D	0.39%
SHO	D	0.36%
DEI	A	0.33%
CHCT	C	0.31%
NHC	C	0.3%
CUBE	D	0.29%
UMH	B	0.28%
JBGS	D	0.28%
BRX	C	0.26%
DRH	C	0.23%
NSA	D	0.22%
IVT	A	0.19%
ALEX	C	0.17%
REXR	F	0.13%
IRT	A	0.11%
EPRT	A	0.11%
AIV	A	0.11%
BNL	D	0.1%
UE	B	0.1%
O	A	0.1%
AKR	A	0.1%
ROIC	D	0.09%
BFS	C	0.09%
VNO	D	0.09%
PLYM	D	0.09%
GMRE	F	0.08%

PPTY Underweight 32 Positions Relative to HIPS

Symbol	Grade	Weight
WES	A	-3.05%
PAA	B	-2.98%
NS	C	-2.91%
ET	A	-2.82%
BXSL	A	-2.79%
MPLX	A	-2.73%
GBDC	A	-2.71%
EPD	B	-2.69%
DMLP	A	-2.61%
EFT	A	-2.6%
BGX	A	-2.6%
JFR	A	-2.58%
PK	C	-2.57%
USAC	D	-2.56%
GSBD	A	-2.56%
JQC	A	-2.54%
FCT	A	-2.53%
ARCC	A	-2.52%
FDUS	A	-2.48%
SLRC	A	-2.46%
BSM	B	-2.4%
NMFC	B	-2.39%
DSU	B	-2.38%
BLW	C	-2.38%
FSK	A	-2.36%
CQP	D	-2.35%
ALX	C	-2.34%
FSD	B	-2.34%
NBB	C	-2.26%
GLPI	F	-2.12%
EPR	D	-2.03%
GNL	D	-1.65%