NuShares Short-Term REIT
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
17.5x P/Sales
ratio
4.7x
P/BV
ratio
2.0x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The NuShares Short-Term REIT ETF tracks an index composed of U.S. REITs that typically have shorter-term lease durations than average.

FUND BASICS
Category US Equities
Fund Sponsor Nuveen
Website www.nuveen.com
Inception date Dec 19, 2016
Assets (mns) $50
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 35
Wgt avg mkt cap (mns) $12,741
Large cap (>$10bn) 55.8%
Mid cap ($2-10bn) 38.4%
Small cap (<$2bn) 5.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INVITATION HOMES, INC. 5.9 %
SUN COMMUNITIES INC 5.5 %
MID-AMERICA APARTMENT COMM 5.3 %
EQUITY LIFESTYLE PROPERTIES 5.3 %
CAMDEN PROPERTY TRUST 5.1 %
AVALONBAY COMMUNITIES INC 5.1 %
EQUITY RESIDENTIAL 5.1 %
UDR INC 5.0 %
ESSEX PROPERTY TRUST INC 4.9 %
HOST HOTELS & RESORTS INC 4.9 %
Total 52.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
27.3% 22.9% -- -- 12.0%

Market Correlations
versus... Beta R-squared
S&P500 0.52 35%
MSCI EAFE 0.41 18%
MSCI Emg. Mkts. 0.19 6%

Technical Indicators
Recent close $30.58
30d moving avg. $30.72
Annualized volatility 10.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.4%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $1,821

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the NuShares Short-Term REIT ETF based on the alternatives' overlap in portfolio holdings with NURE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NURE Expense: 35 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NURE
Ticker Fund
Name
Overlap1
vs NURE
(%)
Expense
ratio
(bp)
Savings
vs NURE
(bp)
ALTAR
Score™
(%)
ALTAR
vs NURE
(%)
REZ iShares Residential Real Estate Capped 57.1 48 -13 5.1 -1.5
RWR SPDR Dow Jones REIT ETF 40.1 25 10 6.2 -0.3
SCHH Schwab US REIT 40.1 7 28 6.4 -0.1
FRI First Trust S&P REIT 29.6 50 -15 6.0 -0.6
BBRE JPMorgan BetaBuilders MSCI U.S. REIT 29.4 11 24 6.3 -0.2
USRT iShares Core. U.S. REIT 29.2 8 27 6.4 -0.1
ICF iShares Cohen & Steers Realty Majors 28.4 34 1 5.2 -1.4
EWRE Invesco S&P 500 Equal Weight Real Estate 28.0 40 -5 5.5 -1.1
PPTY PPTY-U.S. Diversified Real Estate 26.9 53 -18 5.3 -1.3
PSR Invesco Active US Real Estate 25.4 35 0 5.4 -1.2
GQRE FlexShares Global Quality Real Estate 23.9 45 -10 6.4 -0.2
HOMZ Hoya Capital Housing 23.9 45 -10 6.4 -0.2
RORE Hartford Multifactor REIT 23.5 45 -10 12.9 +6.4
FREL Fidelity MSCI Real Estate 23.4 8 27 6.0 -0.5
RWO SPDR DJ Global Real Estate 23.2 50 -15 6.0 -0.6
IYR iShares U.S. Real Estate 22.9 42 -7 5.7 -0.8
XLRE Real Estate Select Sector SPDR 22.8 13 22 5.3 -1.3
REET iShares Global REIT 20.9 14 21 6.2 -0.4
VNQ Vanguard REIT ETF 20.3 12 23 6.0 -0.5
DVOL First Trust Dorsey Wright Momentum & Low Volatility 19.8 60 -25 4.4 -2.1

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%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

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

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

OTHER FUNDAMENTAL METRICS

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

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
NuShares Short-Term REIT
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.0 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.