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Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

NetLease Corporate Real Estate ETF

NETL | ETF

$25.52

$60 M

4.65%

$1.20

0.60%

Vitals

YTD Return

6.9%

1 yr return

13.8%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

2.8%

Net Assets

$60 M

Holdings in Top 10

60.6%

52 WEEK LOW AND HIGH

$25.8
$22.02
$27.44

Expenses

OPERATING FEES

Expense Ratio 0.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 28.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

NetLease Corporate Real Estate ETF

NETL | ETF

$25.52

$60 M

4.65%

$1.20

0.60%

NETL - Profile

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 2.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.56%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    NetLease Corporate Real Estate ETF
  • Fund Family Name
    Exchange Traded Concepts
  • Inception Date
    Mar 21, 2019
  • Shares Outstanding
    4050000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Serowik

Fund Description

The Fund uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index. The Index is owned by Fundamental Income Strategies, LLC (the “Index Provider”) and measures the performance of the net lease real estate sector of the U.S. equity market. A “net lease” is an arrangement, typically associated with commercial real estate, that requires the tenant to pay all or a portion of the taxes, fees, and maintenance costs for a property in addition to rent.
Fundamental Income Net Lease Real Estate Index
The Index is generally composed of the U.S.-listed equity securities of companies that derive at least 85% of their earnings or revenues from real estate operations in the net lease real estate sector (“Eligible Companies”). At the time of each reconstitution of the Index, Eligible Companies with a market capitalization of more than $200 million and average daily traded volume of at least 10,000 shares are included in the Index (the “Index Constituents”). A significant portion of the Index is expected to be composed of real estate investment trusts (“REITs”). The Index may include American Depositary Receipts (“ADRs”). The Index includes securities of companies with a diversified customer, tenant, or obligor base (collectively, “Diversified Companies”), and may also include securities of companies with more than half of their revenue being generated from a single customer, tenant, or obligor (collectively, “Non-Diversified Companies”).
The real estate companies included in the Index may utilize leverage, and some may be highly leveraged. Additionally, such companies may include significant business operations outside of the United States. As of June 1, 2024, the Index consisted
of 21 securities, the three largest of which and their weights were NNN REIT Inc. (8.0%), Realty Income Corporation (8.0%) and W.P. Carey Inc. (7.8%).
The Index is reconstituted and rebalanced quarterly as of the close of business on the third Friday of each March, June, September, and December based on data as of the end of the previous month (each, a “Reference Date”). Index Constituents are weighted based on their free-float market capitalization (i.e., market capitalization based on the number of shares available to the public), subject to the following constraints as of the time of each reconstitution of the Index. The sum of all Non-Diversified Companies cannot exceed 12.5% of the total Index weight, and each Non-Diversified Company cannot exceed 3.5% of the total Index weight. Additionally, each of the five largest Diversified Companies in the Index will have their weight capped at 8%, and the remaining Diversified Companies are each capped at 4% of the total Index weight.
If the foregoing limits would be exceeded at the time of a reconstitution of the Index, the excess weight of Diversified Companies is proportionally redistributed to all Diversified Companies with weights below such limits, and the excess weight of Non-Diversified Companies is proportionally redistributed to all Non-Diversified Companies with weights below such limits.
The Fund’s Investment Strategy
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in corporate real estate companies. The foregoing policy may be changed without shareholder approval upon 60 days’ written notice to shareholders. For purposes of the foregoing policy, the Fund defines “corporate real estate companies” to mean companies that (i) earn a majority of their revenue or income from or have a majority of their assets invested in owning or managing real estate properties or (ii) are structured as REITs.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole, when the Adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).
The Fund generally may invest in securities or other investments not included in the Index, but which the Adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
The Fund is expected to concentrate (i.e., hold more than 25% of its total assets) in securities of the real estate sector to approximately the same extent as the Index. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.
Read More

NETL - Performance

Return Ranking - Trailing

Period NETL Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -5.5% 23.8% 87.50%
1 Yr 13.8% -8.2% 33.3% 85.83%
3 Yr -0.4%* -12.0% 6.5% 83.61%
5 Yr 2.8%* -12.0% 15.0% 83.93%
10 Yr N/A* -2.0% 14.4% 43.75%

* Annualized

Return Ranking - Calendar

Period NETL Return Category Return Low Category Return High Rank in Category (%)
2023 -2.1% -16.2% 24.6% 88.28%
2022 -19.7% -51.3% 2.5% 12.18%
2021 22.2% -7.7% 52.3% 75.95%
2020 -5.2% -42.2% 35.0% 16.07%
2019 N/A 0.0% 43.1% N/A

Total Return Ranking - Trailing

Period NETL Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -5.5% 23.8% 87.50%
1 Yr 13.8% -8.2% 33.3% 85.83%
3 Yr -0.4%* -12.0% 6.5% 83.61%
5 Yr 2.8%* -12.0% 15.0% 83.93%
10 Yr N/A* -2.0% 14.4% N/A

* Annualized

Total Return Ranking - Calendar

Period NETL Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -13.7% 25.0% 90.38%
2022 -16.2% -40.7% 7.8% 13.03%
2021 27.3% 7.8% 54.6% 81.43%
2020 -0.7% -36.6% 44.3% 12.50%
2019 N/A 4.1% 46.4% N/A

NETL - Holdings

Concentration Analysis

NETL Category Low Category High NETL % Rank
Net Assets 60 M 2.26 M 61.4 B 87.55%
Number of Holdings 22 22 548 100.00%
Net Assets in Top 10 32.2 M 1.29 M 32.8 B 87.08%
Weighting of Top 10 60.58% 13.2% 82.2% 13.33%

Top 10 Holdings

  1. Realty Income Corp 8.12%
  2. VICI Properties Inc 8.09%
  3. STAG Industrial Inc 8.03%
  4. NNN REIT Inc 7.80%
  5. WP Carey Inc 7.38%
  6. Safehold Inc 4.51%
  7. LXP Industrial Trust 4.23%
  8. Agree Realty Corp 4.17%
  9. Broadstone Net Lease Inc 4.13%
  10. Essential Properties Realty Trust Inc 4.13%

Asset Allocation

Weighting Return Low Return High NETL % Rank
Stocks 		99.47% 0.00% 100.25% 20.83%
Cash 		0.90% -42.50% 24.34% 52.08%
Preferred Stocks 		0.00% 0.00% 31.13% 90.83%
Other 		0.00% -82.45% 106.21% 86.67%
Convertible Bonds 		0.00% 0.00% 10.95% 90.79%
Bonds 		0.00% 0.00% 149.68% 90.83%

Stock Sector Breakdown

Weighting Return Low Return High NETL % Rank
Real Estate 		100.00% 34.46% 100.00% 35.09%
Utilities 		0.00% 0.00% 3.55% 90.35%
Technology 		0.00% 0.00% 12.02% 90.79%
Industrials 		0.00% 0.00% 7.39% 90.79%
Healthcare 		0.00% 0.00% 0.53% 90.79%
Financial Services 		0.00% 0.00% 37.05% 90.79%
Energy 		0.00% 0.00% 33.11% 90.35%
Communication Services 		0.00% 0.00% 11.61% 91.67%
Consumer Defense 		0.00% 0.00% 0.93% 89.91%
Consumer Cyclical 		0.00% 0.00% 45.29% 94.74%
Basic Materials 		0.00% 0.00% 13.69% 91.23%

Stock Geographic Breakdown

Weighting Return Low Return High NETL % Rank
US 		99.47% 0.00% 100.25% 14.58%
Non US 		0.00% 0.00% 37.90% 92.08%

NETL - Expenses

Operational Fees

NETL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.07% 8.91% 86.92%
Management Fee 0.60% 0.00% 1.50% 27.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

NETL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

NETL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NETL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 0.11% 380.00% 32.14%

NETL - Distributions

Dividend Yield Analysis

NETL Category Low Category High NETL % Rank
Dividend Yield 4.65% 0.00% 13.03% 8.75%

Dividend Distribution Analysis

NETL Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Quarterly Quarterly

Net Income Ratio Analysis

NETL Category Low Category High NETL % Rank
Net Income Ratio 2.56% -1.14% 6.05% 12.24%

Capital Gain Distribution Analysis

NETL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

NETL - Fund Manager Analysis

Managers

Andrew Serowik

Start Date

Tenure

Tenure Rank

Mar 21, 2019

3.2

3.2%

Mr. Serowik joined Exchange Traded Concepts, LLC from Goldman Sachs in May 2018. He began his career at Spear, Leeds & Kellogg, continuing with Goldman after its acquisition of SLK in September 2000. During his career of more than 18 years at the combined companies, he held various roles, including managing the global Quant ETF Strats team and One Delta ETF Strats. He designed and developed systems for portfolio risk calculation, algorithmic ETF trading, and execution monitoring, with experience across all asset classes. He graduated from the University of Michigan with a Bachelor of Business Administration degree in Finance.

Gabriel Tan

Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Mr. Tan joined Exchange Traded Concepts, LLC in May 2019 as an Associate Portfolio Manager and was promoted to Portfolio Manager in December 2020. He began his career at UBS and BBR Partners where he worked as a financial planning analyst and a portfolio strategist for over four years. During his time there, he developed comprehensive wealth management solutions focused on portfolio optimization, trust and estate planning, and tax planning.

Todd Alberico

Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Mr. Alberico joined Exchange Traded Concepts, LLC in November 2020, having spent the past 14 years in ETF trading at Goldman Sachs, Cantor Fitzgerald, and, most recently, Virtu Financial. He spent most of that time focused on the Trading and Portfolio Risk Management of ETFs exposed to international and domestic equity. He has worked on several different strategies including lead market-making and electronic trading, to customer facing institutional business developing models for block trading as well as transitional trades. Mr. Alberico graduated from St. John’s University in NY with a Bachelor of Science degree in Finance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 8.3 2.68

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