REM vs. SRS ETF Comparison

Comparison of iShares Mortgage Real Estate Capped ETF (REM) to ProShares UltraShort Real Estate (SRS)

REM

iShares Mortgage Real Estate Capped ETF

REM Description

The investment seeks to track the investment results of an index composed of U.S. real estate investment trusts ("REITs") that hold U.S. residential and commercial mortgages. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the residential and commercial mortgage real estate, mortgage finance and savings associations sectors of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.88

Average Daily Volume

417,229

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SRS

ProShares UltraShort Real Estate

SRS Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) 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 two times the inverse (-2x) 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

$46.52

Average Daily Volume

14,598

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	REM	SRS
30 Days	0.26%	0.95%
60 Days	-4.54%	3.64%
90 Days	-1.02%	-1.17%
12 Months	12.10%	-31.87%

8 Overlapping Holdings

Symbol	Grade	Weight in REM	Weight in SRS	Overlap
AGNC	C	11.23%	0.77%	0.77%
BXMT	C	4.71%	0.39%	0.39%
CIM	D	2.81%	0.31%	0.31%
IVR	F	0.95%	0.19%	0.19%
MFA	D	2.67%	0.28%	0.28%
NLY	C	15.54%	1.08%	1.08%
STWD	C	9.72%	0.56%	0.56%
TWO	F	2.86%	0.32%	0.32%

REM Overweight 25 Positions Relative to SRS

Symbol	Grade	Weight
RITM	C	8.6%
ABR	C	5.06%
LADR	B	3.13%
ARI	C	3.09%
RC	D	2.76%
PMT	C	2.71%
FBRT	D	2.51%
EFC	C	2.42%
RWT	D	2.22%
DX	B	2.2%
ARR	D	2.18%
BRSP	C	1.9%
KREF	C	1.59%
CMTG	F	1.34%
ORC	B	1.33%
NYMT	C	1.28%
TRTX	C	1.25%
ACRE	B	0.9%
REFI	A	0.64%
GPMT	C	0.41%
AFCG	D	0.39%
SEVN	C	0.39%
NREF	A	0.33%
AOMR	F	0.26%
SUNS	B	0.2%

REM Underweight 79 Positions Relative to SRS

Symbol	Grade	Weight
AMT	C	-8.05%
CCI	C	-4.7%
PLD	F	-4.64%
EQIX	A	-3.91%
SPG	A	-3.53%
WELL	A	-2.73%
PSA	C	-2.58%
AVB	B	-2.35%
EQR	C	-2.24%
SBAC	D	-2.21%
DLR	B	-2.02%
O	C	-1.94%
CSGP	D	-1.85%
WY	F	-1.8%
VTR	B	-1.71%
ESS	B	-1.59%
CBRE	B	-1.59%
BXP	C	-1.56%
ARE	F	-1.46%
DOC	C	-1.4%
INVH	D	-1.28%
MAA	B	-1.19%
EXR	C	-1.13%
WPC	C	-1.12%
SUI	C	-1.12%
UDR	B	-1.08%
HST	C	-1.0%
ELS	C	-1.0%
MPW	F	-0.9%
VNO	C	-0.83%
CPT	B	-0.83%
REG	A	-0.82%
VICI	C	-0.76%
OHI	C	-0.74%
NNN	C	-0.74%
GLPI	C	-0.72%
FRT	B	-0.71%
IRM	C	-0.7%
JLL	D	-0.69%
KIM	A	-0.67%
KRC	B	-0.63%
LAMR	C	-0.62%
AIV	C	-0.61%
SLG	B	-0.58%
AMH	C	-0.54%
DEI	B	-0.54%
COLD	D	-0.53%
CUZ	B	-0.48%
BRX	A	-0.48%
CUBE	C	-0.47%
PK	C	-0.46%
HPP	F	-0.45%
EPR	C	-0.44%
HHH	B	-0.42%
FR	D	-0.42%
EGP	D	-0.41%
HIW	C	-0.41%
REXR	F	-0.41%
RHP	B	-0.37%
JBGS	F	-0.37%
HR	B	-0.36%
SBRA	C	-0.33%
OUT	A	-0.32%
RYN	D	-0.32%
SVC	F	-0.31%
EQC	B	-0.31%
NHI	D	-0.29%
DSS	F	-0.28%
APLE	B	-0.26%
PEB	D	-0.26%
SHO	D	-0.24%
RLJ	C	-0.23%
PDM	D	-0.23%
PCH	D	-0.23%
BDN	C	-0.22%
PGRE	F	-0.22%
MAC	B	-0.22%
LXP	D	-0.21%
XHR	B	-0.18%