SRS vs. FPRO ETF Comparison

Comparison of ProShares UltraShort Real Estate (SRS) to Fidelity Real Estate Investment ETF (FPRO)

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

$15.61

Average Daily Volume

51,988

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPRO

Fidelity Real Estate Investment ETF

FPRO Description

The investment seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and is not required to publicly disclose its complete portfolio holdings each business day. The fund normally invests at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. It invests in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$20.71

Average Daily Volume

1,535

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SRS	FPRO
30 Days	2.43%	0.07%
60 Days	-11.71%	7.16%
90 Days	4.00%	-0.37%
12 Months	-6.32%	1.76%

29 Overlapping Holdings

Symbol	Grade	Weight in SRS	Weight in FPRO	Overlap
AMH	C	0.54%	2.12%	0.54%
AMT	C	8.05%	5.16%	5.16%
CBRE	C	1.59%	3.46%	1.59%
CCI	D	4.7%	3.08%	3.08%
COLD	C	0.53%	1.28%	0.53%
CUBE	B	0.47%	3.41%	0.47%
DLR	A	2.02%	3.59%	2.02%
ELS	C	1.0%	0.52%	0.52%
EQIX	C	3.91%	6.58%	3.91%
EQR	A	2.24%	2.78%	2.24%
EXR	A	1.13%	1.58%	1.13%
GLPI	C	0.72%	0.45%	0.45%
INVH	A	1.28%	1.47%	1.28%
IRM	A	0.7%	2.28%	0.7%
KIM	B	0.67%	3.69%	0.67%
LAMR	C	0.62%	1.42%	0.62%
MAA	B	1.19%	3.18%	1.19%
NNN	B	0.74%	3.6%	0.74%
O	D	1.94%	0.48%	0.48%
PLD	C	4.64%	10.12%	4.64%
PSA	B	2.58%	5.16%	2.58%
REG	B	0.82%	1.13%	0.82%
RHP	D	0.37%	0.71%	0.37%
SBAC	F	2.21%	4.65%	2.21%
SUI	D	1.12%	3.07%	1.12%
UDR	B	1.08%	3.38%	1.08%
VTR	A	1.71%	6.5%	1.71%
WELL	A	2.73%	2.71%	2.71%
WY	F	1.8%	1.13%	1.13%

SRS Overweight 58 Positions Relative to FPRO

Symbol	Grade	Weight
SPG	B	3.53%
AVB	A	2.35%
CSGP	F	1.85%
ESS	A	1.59%
BXP	C	1.56%
ARE	C	1.46%
DOC	B	1.4%
WPC	D	1.12%
NLY	B	1.08%
HST	D	1.0%
MPW	C	0.9%
VNO	C	0.83%
CPT	A	0.83%
AGNC	A	0.77%
VICI	D	0.76%
OHI	A	0.74%
FRT	D	0.71%
JLL	A	0.69%
KRC	D	0.63%
AIV	D	0.61%
SLG	A	0.58%
STWD	C	0.56%
DEI	C	0.54%
CUZ	C	0.48%
BRX	B	0.48%
PK	D	0.46%
HPP	D	0.45%
EPR	D	0.44%
HHH	D	0.42%
FR	C	0.42%
EGP	C	0.41%
HIW	C	0.41%
REXR	D	0.41%
BXMT	C	0.39%
JBGS	C	0.37%
HR	C	0.36%
SBRA	A	0.33%
TWO	B	0.32%
OUT	D	0.32%
RYN	B	0.32%
CIM	C	0.31%
SVC	F	0.31%
EQC	B	0.31%
NHI	A	0.29%
DSS	F	0.28%
MFA	C	0.28%
APLE	D	0.26%
PEB	D	0.26%
SHO	D	0.24%
RLJ	D	0.23%
PDM	A	0.23%
PCH	F	0.23%
BDN	C	0.22%
PGRE	D	0.22%
MAC	D	0.22%
LXP	B	0.21%
IVR	B	0.19%
XHR	D	0.18%

SRS Underweight 10 Positions Relative to FPRO

Symbol	Grade	Weight
DRH	D	-1.47%
UE	B	-1.27%
PECO	F	-1.07%
SITC	B	-1.07%
STAG	C	-0.98%
FCPT	B	-0.8%
AIRC	A	-0.75%
TRNO	C	-0.71%
DBRG	F	-0.66%
SKT	D	-0.54%