SPMV vs. AREA ETF Comparison

Comparison of Invesco S&P 500 Minimum Variance ETF (SPMV) to Harbor AlphaEdge Next Generation REITs ETF (AREA)

SPMV

Invesco S&P 500 Minimum Variance ETF

SPMV Description

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® Minimum Volatility Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of a subset of constituent securities of the S&P 500 Index using a managed volatility equity strategy that seeks to achieve lower total volatility than the S&P 500 ® Index, while maintaining other similar characteristics of the S&P 500 ® Index.

Grade (RS Rating)

Last Trade

$47.62

Average Daily Volume

711

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	SPMV	AREA
30 Days	1.14%	-1.86%
60 Days	2.01%	-4.63%
90 Days	4.46%
12 Months	26.03%

2 Overlapping Holdings

	Symbol	Grade	Weight in SPMV	Weight in AREA	Overlap
	AMT	D	1.83%	6.4%	1.83%
	CCI	D	0.7%	0.72%	0.7%

SPMV Overweight 73 Positions Relative to AREA

Symbol	Grade	Weight
GEV	B	3.69%
NVDA	C	3.53%
TMUS	B	3.37%
CSCO	B	3.31%
AON	A	3.14%
AMZN	C	3.04%
BRK.A	B	2.95%
AAPL	C	2.9%
ABT	B	2.84%
PG	A	2.81%
MMC	B	2.77%
MSFT	F	2.76%
AJG	B	2.7%
QCOM	F	2.64%
CB	C	2.56%
MRK	F	2.46%
MDLZ	F	2.46%
HD	A	2.25%
VRTX	F	2.25%
ORCL	B	2.23%
AVGO	D	2.03%
ADBE	C	2.01%
NOW	A	1.77%
VRSK	A	1.7%
ZTS	D	1.66%
CRM	B	1.66%
PGR	A	1.65%
NEE	D	1.63%
SRE	A	1.56%
GIS	D	1.47%
DUK	C	1.34%
JNJ	D	1.2%
REGN	F	1.07%
HSY	F	1.03%
AEE	A	1.02%
TRV	B	1.0%
PFE	D	0.99%
VZ	C	0.97%
TDY	B	0.96%
AEP	D	0.95%
BRO	B	0.81%
MKC	D	0.78%
INTU	C	0.74%
XOM	B	0.69%
RTX	C	0.66%
LLY	F	0.63%
JPM	A	0.62%
IBM	C	0.56%
GOOG	C	0.55%
RSG	A	0.55%
TJX	A	0.5%
NEM	D	0.47%
SO	D	0.47%
ELV	F	0.45%
TSN	B	0.42%
HRL	D	0.38%
IDXX	F	0.37%
AMGN	D	0.32%
META	D	0.32%
ACN	C	0.31%
BIIB	F	0.3%
T	A	0.29%
KHC	F	0.28%
ADM	D	0.26%
AIG	B	0.25%
PCG	A	0.24%
ACGL	D	0.22%
CVS	D	0.22%
XEL	A	0.2%
TRMB	B	0.1%
GILD	C	0.09%
GD	F	0.06%
BA	F	0.05%

SPMV Underweight 31 Positions Relative to AREA

Symbol	Grade	Weight
WY	D	-6.92%
LAMR	D	-6.86%
EXR	D	-6.07%
SBAC	D	-6.07%
HST	C	-5.71%
CUBE	D	-5.4%
IRM	D	-3.83%
ELS	C	-3.73%
SBRA	C	-3.65%
EPR	D	-3.62%
RYN	D	-3.59%
DRH	B	-3.53%
VICI	C	-3.3%
SHO	C	-2.82%
NHI	D	-2.78%
PSA	D	-2.58%
OHI	C	-2.55%
DOC	D	-2.5%
LAND	F	-2.17%
PK	B	-1.67%
OUT	A	-1.5%
SILA	C	-1.32%
NSA	D	-1.25%
LTC	B	-1.13%
INN	D	-1.02%
VTR	C	-1.0%
GLPI	C	-0.49%
INVH	D	-0.42%
XHR	B	-0.26%
PEB	D	-0.25%
DHC	F	-0.19%