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Tue, Jul. 29, 3:20 PM
- The FTSE Nareit All REITs Index posted a total return of 16.14% in H1 and offered a 4.03% dividend yield as of June 30. Equity REITs were up 16.25% with a dividend yield of 3.52%. The S&P 500, by comparison, had a total return of 7.14% and a dividend yield of 2% on June 30.
- The top-performing equity REIT sector was the apartments with a 23.54% total return, while Office REITs delivered 17.78%. Closely behind were Health Care REITs and Lodging/Resort REITs at 17.59% and 17.26%, respectively, then Retail REITs at 15.97%.
- The Mortgage REITs Index was up 17.73% in H1, with commercial financing up 14.03% and residential up 19.28%.
- Full report
- ETFs: IYR, VNQ, WPS, VNQI, DRN, RWX, URE, SRS, ICF, RWR, SCHH, RWO, IFGL, DRV, KBWY, DRW, REK, FRI, GRI, FTY, FFR, RWXL, PSR, IFNA, FNIO, WREI
Wed, Jul. 9, 2:15 PM
- The iShares Global REIT ETF (REET) will comprise of real estate investment trusts across developed and emerging markets.
- The iShares Currency Hedged MSCI EMU ETF (HEZU) will offer investors exposure to the eurozone without the risk of currency fluctuations between the dollar and the euro by tracking the MSCI EMU 100% Hedged to USD Index and investing its assets in iShares MSCI EMU ETF (EZU).
- REET will feature an expense ratio of 0.14%, while HEZU will charge 0.51%; both funds will launch tomorrow, July 10th.
- Other global REIT ETFs: WPS, VNQI, RWX, RWO, IFGL, DRW, GRI, FFR, RWXL
- Other ETFs with exposure to Europe: VGK, FEZ, IEV, HEDJ, EPV, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, FIEU, IEUR
Nov. 15, 2013, 12:42 PM
- FlexShares, the ETF branch of Northern Trust Corp. (NTRS), recently released the FlexShares Global Quality Real Estate Index Fund (GQRE); the firm's first real estate focused ETF.
- This new fund, with an expense ratio of 0.45%, will provide investors with and REIT portfolio that provides exposure to the inflation-hedging qualities and long-term capital growth potential of global real estate.
- “Research shows that a high-quality, value-focused portfolio of real estate securities may offer attractive returns with less volatility compared to traditional capitalization-weighted global real estate indices,” said Shundrawn Thomas, head of Northern Trust's FlexShares ETF Group, in a press release.
- Other global real estate ETFs: WPS, VNQI, RWX, RWO, DRW, IFGL, GRI, FFR, RWXL
Nov. 6, 2013, 12:22 PM
- Rising interest rates have brought 4 years of easy gains for the REIT market to a halt and have advisers honing their bets. The board NAREIT All Equity REIT Index is up about 8% this year, not just paling in comparison the S&P 500's 24% gain, but REITs had been up 15% early in 2013 before rates started rising.
- On the idea of higher rates hitting relatively-highly levered REITs the most, Andrew Ahrens is looking for REITs with less relative debt on their books. On favorite is the iShares Retail Real Estate Capped ETF (RTL). He's also putting money into foreign-leaning funds such as Cohen & Steers' Global Realty Majors ETF (GRI).
- Cohen & Steers portfolio manager Chip McKinley suggests - unlike the U.S. - overseas REITs are only just now beginning to become popular. U.K. real estate companies are up more than 20% this year; Japan more than 40%. Up and comers include Germany and Australia. "Both markets are home to high-quality developers with attractive portfolios that are priced well-below the value of their underlying properties."
- Paul Curbo - co-manager of the actively-managed PowerShares Active U.S. Real Estate Fuind (PSR) - likes REITs with shorter-term leases as well as retail operators with more flexibility in setting lease rates.
- Global real estate ETFs: WPS, VNQI, RWX, RWO, IFAS, DRW, IFGL, GRI, FFR, IFEU, RWXL, IFNA.
- Broad U.S. real estate ETFs: IYR, VNQ, DRN, URE, SRS, RWR, ICF, SCHH, DRV, KBWY, REK, FRI, FTY, PSR, WREI.
Mar. 18, 2013, 4:57 AMRon Rowland offers additional highlights on the recently expanded lineup of commission-free ETFs over at Fidelity including the following caveat: Funds not held for 30 days by retail investors or 60 days by RIAs using Fidelity as a custodian will be subject to a $7.95 per-trade commission. Some RIAs have complained that the longer holding period directed at them is unfair. Rowland spells out the full list of affected ETFs here. | Comment!
Jan. 24, 2013, 10:48 AMPerformance of U.S. REITs (IYR, VNQ) has been good, but international REITs like RWX have done even better while sporting higher yields. Greater alpha is nice on the way up, but don't think tighter Fed policy won't hit international REITs even harder than domestic ones, says Stephen Cucchiaro. A compromise might be RWO, which splits its portfolio between the U.S. and overseas. | Comment!
Jan. 9, 2013, 10:50 AMInternational allocations are sharply higher at Windhaven Asset Management - an arm of Schwab and the biggest player in ETF-managed portfolios. Favorites are international real-estate ETFs (WPS an example), Hong Kong (EWH) and Germany (EWG). Domestically, the funds are overweight tech (QQQ). | Comment!
Dec. 31, 2012, 5:40 PM
Dec. 11, 2012, 3:28 PMDeveloped real estate ex-U.S. (WPS) continues a torrid run, both absolutely and measured against U.S. real estate (IYR, VNQ). Though its holdings are concentrated in Asia and Australia, WPS began its outperformance right around the time of Mario Draghi's "whatever it takes" remarks concerning EMU. WPS +31.5%, IYR +13.5% YTD. | 1 Comment
Nov. 16, 2012, 3:29 PMDeveloped real estate ex-U.S. (WPS) holds its ground over the last 2 months as domestic property (IYR) falls more than 7%. YTD, WPS is up 25.4% vs. an 8.7% gain for IYR. Another international fund, VNQI - holding many of the same stocks, but less top-heavy - has posted an even greater return, +28.1%. | 3 Comments
Oct. 19, 2012, 12:29 PM
Sep. 14, 2012, 3:09 PM
Jul. 5, 2012, 1:16 PMPrice matters. Real estate funds have trumped all other categories of stock fund over the last 3 years, not because the underlying assets have great fundamentals, but because the class "was priced for bankruptcy" in 2009. Now the fundamentals are turning. Some favorites: VNQ, SPG, AVB, FNIO, ICF, IFGL. | 5 Comments
Jun. 29, 2012, 3:21 PMReal estate ex-U.S. outperformed U.S. real estate this month, WPS +4.9% (45 minutes before the close) vs. IYR and VNQ, each up about 2.5%. Over the last year though, it's not close, with U.S. real estate outperforming ex-U.S. by 1500 basis points or more (depending on the ETF), the divergence beginning last last fall. | Comment!
Dec. 14, 2011, 5:09 AMMorgan Stanley (MS) has reportedly had to return around $700M to investors in its flagship global real-estate fund, and has been forced to cut the fund's fees following lackluster performance. The concessions have persuaded investors to give the fund an extra year, until June 2013, to invest. | Comment!
Mar. 10, 2010, 1:18 PM
IFGL vs. ETF Alternatives
The iShares FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index.
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