ETF Research Center

VanEck Mortgage REIT Income ETF

ALTAR
Score™

52.5%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	5.7x	P/Sales ratio	4.0x
P/BV ratio	0.8x	Div. yield	12.7%

Description
Performance
Comps
Fundamentals
Valuation
Rating

VanEck Vectors Mortgage REIT Income ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to replicate, as closely as possible, before fees and expenses, the price and yield performance of the VanEck Vectors Mortgage REIT Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Van Eck Associates Corp
Website	www.vaneck.com
Inception date	Aug 16, 2011
Assets (mns)	$300
Currency	USD
Expense ratio	43 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	Bank of New York Mellon
Weighting	Market Cap
Index replication	Full
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	28
Wgt avg mkt cap (mns)	$4,503
Large cap (>$10bn)	15.5%
Mid cap ($2-10bn)	39.2%
Small cap (<$2bn)	45.3%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	68.7 %
ANNALY CAPITAL MANAGEMENT IN	15.3 %
AGNC INVESTMENT CORP.	12.9 %
STARWOOD PROPERTY TRUST INC	9.3 %
NEW RESIDENTIAL INVESTMENT	8.6 %
CAPITAL TRUST-CL A	5.1 %
ARBOR REALTY TRUST INC	3.9 %
LADDER CAPITAL CORP-CLASS A	3.5 %
DYNEX CAPITAL INC	3.5 %
ELLINGTON FINANCIAL LLC	3.4 %
APOLLO COMMERCIAL REAL ESTAT	3.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	99.5 %

Standardized Annual Returns (thru May 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
-4.4%	-4.4%	6.5%	0.4%	3.0%

Market Correlations
versus...	Beta	R-squared
S&P500	1.52	71%
MSCI EAFE	1.49	72%
MSCI Emg. Mkts.	1.13	41%

Technical Indicators
Recent close	$10.51
30d moving avg.	$10.25
Annualized volatility	30.3%
Short interest (ETF)	1.7%
Short interest (Underlying)	2.9%
Relative strength (RSI)	50

Liquidity measures
Avg. volume (thou.)	341
Turnover	1.2%
Bid/Ask (% of price)	0.11%
ADV underlying (mns)	$552

FINDING ALTERNATIVE FUNDS

Below is a list of 171 potential alternatives to the VanEck Mortgage REIT Income ETF ETF based on the alternatives' overlap in portfolio holdings with MORT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

MORT

Expense:

43 bp

ALTAR Score™:

52.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH MORT
Ticker	Fund Name	Overlap¹ vs MORT (%)	Expense ratio (bp)	Savings vs MORT (bp)	ALTAR Score™ (%)	ALTAR vs MORT (%)
REM	iShares Mortgage Real Estate ETF	62.0	48	-5	59.8	+7.3
SRET	Global X SuperDividend REIT ETF	33.2	59	-16	12.3	-40.1
RIET	Hoya Capital High Dividend Yield ETF	29.0	50	-7	45.1	-7.4
KBWD	Invesco KBW High Dividend Yield Financial ETF	19.9	384	-341	13.6	-38.9
SDIV	Global X Superdividend ETF	19.8	58	-15	42.0	-10.4
XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETF	16.7	30	13	13.2	-39.3
HOMZ	Hoya Capital Housing ETF	7.3	30	13	9.0	-43.5
HSMV	First Trust Horizon Managed Volatility Small/Mid ETF	6.5	80	-37	8.2	-44.3
XSVM	Invesco S&P SmallCap Value with Momentum ETF	4.6	36	7	12.5	-40.0
XSLV	Invesco S&P SmallCap Low Volatility ETF	4.2	25	18	7.5	-45.0
PSCF	Invesco S&P SmallCap Financials ETF	3.3	29	14	9.9	-42.6
FXO	First Trust Financials AlphaDEX Fund	3.2	62	-19	8.8	-43.7
FYT	First Trust Small Cap Value AlphaDEX Fund	2.9	73	-30	11.6	-40.8
RZV	Invesco S&P Smallcap 600 Pure Value ETF	2.8	35	8	11.3	-41.2
VNSE	Natixis Vaughan Nelson Select ETF	2.1	80	-37	4.9	-47.5
IJS	iShares S&P Small-Cap 600 Value ETF	2.0	18	25	10.5	-42.0
AUSF	Global X Adaptive U.S. Factor ETF	2.0	27	16	9.1	-43.4
NUSC	Nuveen ESG Small-Cap ETF	2.0	31	12	5.6	-46.9
FYX	First Trust Small Cap Core AlphaDEX Fund	1.9	61	-18	6.6	-45.9
VIOV	Vanguard S&P Small-Cap 600 Value ETF	1.9	15	28	10.5	-42.0
SLYV	SPDR S&P 600 Small Cap Value ETF	1.8	15	28	10.5	-42.0
DIV	Global X SuperDividend US ETF	1.7	45	-2	11.8	-40.6
IYR	iShares U.S. Real Estate ETF	1.6	40	3	7.4	-45.1
ISCV	iShares Morningstar Small Cap Value ETF	1.5	6	37	9.7	-42.7
NIXT	Research Affiliates Deletions ETF	1.5	9	34	9.1	-43.4
FDVV	Fidelity High Dividend ETF	1.4	15	28	8.0	-44.5
VTWV	Vanguard Russell 2000 Value ETF	1.3	15	28	8.1	-44.3
IWN	iShares Russell 2000 Value ETF	1.3	24	19	8.1	-44.4
USVM	VictoryShares US Small Mid Cap Value Momentum ETF	1.3	25	18	8.3	-44.2
XMLV	Invesco S&P MidCap Low Volatility ETF	1.3	25	18	7.6	-44.9
HDUS	Hartford Disciplined US Equity ETF	1.3	19	24	5.9	-46.5
SFYX	SoFi Next 500 ETF	1.3	0	43	6.1	-46.4
LVHD	Franklin U.S. Low Volatility High Dividend Index ETF	1.3	27	16	7.0	-45.4
XMVM	Invesco S&P MidCap Value with Momentum ETF	1.3	39	4	10.0	-42.5
SIXS	ETC 6 Meridian Small Cap Equity ETF	1.2	89	-46	10.3	-42.2
PAMC	Pacer Lunt MidCap Multi-Factor Alternator ETF	1.2	60	-17	6.4	-46.0
FNDA	Schwab Fundamental US Small Co. Index ETF	1.2	25	18	8.2	-44.2
FNK	First Trust Mid Cap Value AlphaDEX Fund	1.1	70	-27	11.6	-40.8
ISMD	Inspire Small/Mid Cap ETF	1.1	54	-11	6.3	-46.2
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.1	29	14	8.9	-43.6
XJR	iShares ESG Screened S&P Small-Cap ETF	1.1	12	31	7.7	-44.8
OSCV	Opus Small Cap Value ETF	1.0	79	-36	6.8	-45.7
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETF	1.0	15	28	8.2	-44.3
VBR	Vanguard Small Cap Value ETF	1.0	7	36	9.5	-43.0
FNX	First Trust Mid Cap Core AlphaDEX Fund	1.0	60	-17	7.9	-44.5
FYC	First Trust Small Cap Growth AlphaDEX Fund	0.9	71	-28	0.5	-51.9
IJR	iShares Core S&P Small Cap ETF	0.9	6	37	8.0	-44.4
SMDV	ProShares Russell 2000 Dividend Growers ETF	0.9	40	3	7.5	-44.9
FAB	First Trust Multi Cap Value AlphaDEX Fund	0.9	67	-24	10.5	-42.0
STXK	Strive Small-Cap ETF	0.9	18	25	6.3	-46.1
VIOO	Vanguard S&P Small-Cap 600 ETF	0.9	10	33	8.0	-44.5
SPSM	SPDR Portfolio S&P 600 Small Cap ETF	0.9	3	40	8.1	-44.4
IWC	iShares Micro-Cap ETF	0.9	60	-17	-0.6	-53.1
RSSL	Global X Russell 2000 ETF	0.9	8	35	4.7	-47.8
PRFZ	Invesco FTSE RAFI US 1500 Small-Mid ETF	0.8	39	4	6.8	-45.7
FLQS	Franklin U.S. Small Cap Multifactor Index ETF	0.8	35	8	9.9	-42.6
ISCB	iShares Morningstar Small-Cap ETF	0.8	4	39	6.4	-46.1
BBSC	JPMorgan BetaBuilders U.S. Small Cap Equity ETF	0.8	9	34	4.7	-47.8
SCHA	Schwab U.S. Small-Cap ETF	0.7	4	39	6.4	-46.1
SCHM	Schwab U.S. Mid-Cap ETF	0.7	4	39	7.0	-45.5
BBMC	JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	0.7	7	36	6.4	-46.1
VTWO	Vanguard Russell 2000 ETF	0.7	10	33	4.7	-47.8
ESIX	SPDR S&P SmallCap 600 ESG ETF	0.6	12	31	8.3	-44.1
IWM	iShares Russell 2000 ETF	0.6	19	24	4.7	-47.8
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	0.6	24	19	8.4	-44.1
RFDA	RiverFront Dynamic US Dividend Advantage ETF	0.6	52	-9	6.9	-45.6
BKSE	BNY Mellon US Small Cap Core Equity ETF	0.6	4	39	6.3	-46.1
GSSC	Goldman Sachs Activebeta U.S. Small Cap Equity ETF	0.6	20	23	6.1	-46.4
RFV	Invesco S&P Midcap 400 Pure Value ETF	0.6	35	8	13.8	-38.7
FLDZ	RiverNorth Patriot ETF	0.6	75	-32	6.2	-46.2
VB	Vanguard Small-Cap ETF	0.6	5	38	6.4	-46.1
SMLF	iShares U.S. SmallCap Equity Factor ETF	0.6	15	28	6.5	-46.0
RWJ	Invesco S&P SmallCap 600 Revenue ETF	0.6	39	4	10.0	-42.4
SEIV	SEI Enhanced U.S. Large Cap Value Factor ETF	0.6	15	28	9.6	-42.9
STXM	Strive Mid-Cap ETF	0.5	18	25	6.6	-45.9
JPUS	JPMorgan Diversified Return U.S. Equity ETF	0.5	18	25	7.9	-44.6
QDF	FlexShares Quality Dividend Index Fund	0.5	37	6	6.5	-46.0
QDEF	FlexShares Quality Dividend Defensive Index Fund	0.5	37	6	6.3	-46.2
VXF	Vanguard Extended Market ETF	0.5	6	37	5.0	-47.5
FNY	First Trust Mid Cap Growth AlphaDEX Fund	0.5	70	-27	3.1	-49.3
JVAL	JPMorgan U.S. Value Factor ETF	0.5	12	31	8.5	-43.9
FNCL	Fidelity MSCI Financials Index ETF	0.5	8	35	6.6	-45.9
BKMC	BNY Mellon US Mid Cap Core Equity ETF	0.5	4	39	6.4	-46.1
IJJ	iShares S&P Mid-Cap 400 Value ETF	0.5	18	25	9.2	-43.3
MDYV	SPDR S&P 400 Mid Cap Value ETF	0.5	15	28	9.2	-43.3
IVOV	Vanguard S&P Mid-Cap 400 Value ETF	0.5	15	28	9.2	-43.3
VFH	Vanguard Financials ETF	0.4	10	33	6.6	-45.8
SMLV	SPDR SSGA US Small Cap Low Volatility Index ETF	0.4	12	31	7.6	-44.9
IQSM	IQ Candriam U.S. Mid Cap Equity ETF	0.4	15	28	6.2	-46.3
FESM	Fidelity Enhanced Small Cap ETF	0.4	28	15	8.0	-44.4
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	0.4	25	18	6.0	-46.5
SMDX	Intech S&P Small-Mid Cap Divers Alp ETF	0.4	35	8	7.5	-44.9
MIDE	Xtrackers S&P MidCap 400 ESG ETF	0.4	15	28	8.3	-44.1
IYF	iShares U.S. Financials ETF	0.4	40	3	6.2	-46.3
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	0.3	17	26	6.1	-46.4
FAD	First Trust Multi Cap Growth AlphaDEX Fund	0.3	64	-21	2.4	-50.0
GINX	SGI Enhanced Global Income ETF	0.3	98	-55	7.0	-45.5
SMMD	iShares Russell 2500 ETF	0.3	15	28	6.6	-45.9
ONEY	SPDR Russell 1000 Yield Focus ETF	0.3	20	23	9.8	-42.6
CVY	Invesco Zacks Multi-Asset Income ETF	0.3	106	-63	12.2	-40.3
JSML	Janus Henderson Small Cap Growth Alpha ETF	0.3	30	13	8.3	-44.1
ETHO	Etho Climate Leadership U.S. ETF	0.3	47	-4	5.5	-47.0
LQPE	PEO AlphaQuest Thematic PE ETF	0.3	125	-82	5.3	-47.2
FBCV	Fidelity Blue Chip Value ETF	0.3	59	-16	7.6	-44.9
XJH	iShares ESG Screened S&P Mid-Cap ETF	0.3	12	31	7.4	-45.1
QVMM	Invesco S&P MidCap 400 QVM Multi-factor ETF	0.2	15	28	7.7	-44.8
PSC	Principal U.S. Small-Cap ETF	0.2	38	5	7.0	-45.5
JMEE	JPMorgan Market Expansion Enhanced Equity ETF	0.2	24	19	8.1	-44.4
IWS	iShares Russell Mid-Cap Value ETF	0.2	23	20	7.0	-45.5
MDY	SPDR S&P Midcap 400 ETF Trust	0.2	24	19	7.5	-45.0
IJH	iShares Core S&P Mid-Cap ETF	0.2	5	38	7.7	-44.8
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	0.2	39	4	6.2	-46.3
SPMD	SPDR Portfolio S&P 400 Mid Cap ETF	0.2	3	40	7.7	-44.8
IVOO	Vanguard S&P Mid-Cap 400 ETF	0.2	10	33	7.6	-44.9
STXV	Strive 1000 Value ETF	0.2	18	25	8.3	-44.2
FLQM	Franklin U.S. Mid Cap Multifactor Index ETF	0.2	30	13	8.4	-44.1
OPTZ	Optimize Strategy Index ETF	0.2	50	-7	5.2	-47.3
EQAL	Invesco Russell 1000 Equal Weight ETF	0.2	20	23	7.1	-45.4
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	0.2	20	23	5.9	-46.5
IWR	iShares Russell Midcap ETF	0.2	19	24	6.0	-46.5
FELC	Fidelity Enhanced Large Cap Core ETF	0.2	18	25	5.4	-47.0
FELV	Fidelity Enhanced Large Cap Value ETF	0.2	18	25	6.9	-45.5
FNDB	Schwab Fundamental US Broad Market Index ETF	0.2	25	18	7.4	-45.0
PRF	Invesco FTSE RAFI US 1000 ETF	0.2	39	4	7.0	-45.4
VLU	SPDR S&P 1500 Value Tilt ETF	0.1	12	31	7.7	-44.7
FMDE	Fidelity Enhanced Mid Cap ETF	0.1	23	20	5.9	-46.6
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	0.1	29	14	6.6	-45.9
PTL	Inspire 500 ETF	0.1	9	34	5.5	-46.9
SCHV	Schwab U.S. Large-Cap Value ETF	0.1	4	39	6.9	-45.5
SCHB	Schwab U.S. Broad Market ETF	0.1	3	40	5.2	-47.2
SPDG	SPDR Portfolio S&P Sector Neutral Dividend ETF	0.1	5	38	8.1	-44.4
FNDX	Schwab Fundamental US Large Co. Index ETF	0.1	25	18	7.3	-45.1
RWK	Invesco S&P MidCap 400 Revenue ETF	0.1	39	4	10.0	-42.5
DIVB	iShares Core Dividend ETF	0.1	5	38	7.8	-44.7
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.1	9	34	6.0	-46.5
VONV	Vanguard Russell 1000 Value ETF	0.1	8	35	6.7	-45.7
IWD	iShares Russell 1000 Value ETF	0.1	19	24	6.6	-45.9
GVUS	Marketbeta Russell 1000 Value Equity ETF	0.1	12	31	6.7	-45.7
ITOT	iShares Core S&P Total U.S. Stock Market ETF	0.1	3	40	5.1	-47.4
VTI	Vanguard Total Stock Market ETF	0.1	3	40	5.1	-47.4
IWV	iShares Russell 3000 ETF	0.1	20	23	5.0	-47.5
VTHR	Vanguard Russell 3000 ETF	0.1	10	33	5.1	-47.4
ESGV	Vanguard ESG U.S. Stock ETF	0.1	9	34	4.9	-47.6
CVLC	Calvert US Large-Cap Core Responsible Index ETF	0.1	15	28	5.1	-47.4
SCHK	Schwab 1000 Index ETF	0.1	5	38	5.2	-47.3
LRGF	iShares U.S. Equity Factor ETF	0.1	8	35	5.7	-46.8
ROSC	Hartford Multifactor Small Cap ETF	0.1	34	9	10.0	-42.5
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	0.1	30	13	7.0	-45.5
JCTR	JPMorgan Carbon Transition U.S. Equity ETF	0.1	15	28	4.8	-47.7
SCHX	Schwab U.S. Large-Cap ETF	0.0	3	40	5.2	-47.3
ONEO	SPDR Russell 1000 Momentum Focus ETF	0.0	20	23	7.2	-45.3
DEUS	Xtrackers Russell US Multifactor ETF	0.0	17	26	7.2	-45.3
GUSA	Goldman Sachs MarketBeta U.S. 1000 Equity ETF	0.0	11	32	5.1	-47.4
IWB	iShares Russell 1000 ETF	0.0	15	28	5.0	-47.4
IYY	iShares Dow Jones U.S. ETF	0.0	20	23	5.0	-47.5
VONE	Vanguard Russell 1000 ETF	0.0	8	35	5.1	-47.3
ONEV	SPDR Russell 1000 Low Volatility Focus ETF	0.0	20	23	7.8	-44.7
GLBL	Pacer MSCI World Industry Advantage ETF	0.0	65	-22	4.3	-48.1
VT	Vanguard Total World Stock ETF	0.0	7	36	6.1	-46.4
SPTM	SPDR Portfolio S&P 1500 Composite Stock Market ETF	0.0	3	40	5.3	-47.1
XMAG	Defiance Large Cap ex-Mag 7 ETF	0.0	35	8	5.3	-47.2
MMTM	SPDR S&P 1500 Momentum Tilt ETF	0.0	12	31	4.7	-47.7
IUSV	iShares Core S&P US Value ETF	0.0	4	39	6.6	-45.8
ONEQ	Fidelity Nasdaq Composite Index ETF	0.0	21	22	3.9	-48.6
HKND	Humankind US Stock ETF	0.0	11	32	7.4	-45.1
ISCG	iShares Morningstar Small-Cap Growth ETF	0.0	6	37	3.0	-49.5
IWO	iShares Russell 2000 Growth ETF	0.0	24	19	1.4	-51.0
VTWG	Vanguard Russell 2000 Growth ETF	0.0	15	28	1.5	-51.0
PFM	Invesco Dividend Achievers ETF	0.0	53	-10	5.4	-47.1
EBI	Longview Advantage ETF	0.0	35	8	6.9	-45.6
LCTU	BlackRock U.S. Carbon Transition Readiness ETF	0.0	14	29	5.1	-47.4

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Forward multiple:	VanEck Mortgage REIT Income ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

	Custom date range	Compare to
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