Vident’s proprietary investment philosophy is expressed through distinct fundamentals that we believe should be top of mind when it comes to investing. These fundamentals are woven through the construction of the USREX – U.S. Diversified Real Estate Index™ (USREX) and the U.S. Diversified Real Estate ETF that tracks it. The application of Vident’s investment methodology seeks to produce a portfolio that emphasizes four primary factors — location, property type, leverage, and governance – while employing a rules-based methodology that seeks to generate diversified exposure to the liquid U.S. real estate market.
07/02/2026
LOCATION
We believe location is a key driver of real estate performance. The index employs stable property allocation targets to obtain diversified geographic exposure that favors dynamic, high-growth, and productive areas in the U.S.
U.S. PROPERTY TYPE
Apartment or office? Industrial or retail? Differences between property types matter. Fixed allocations seek to ensure diversification and balance across total assets and companies.
LEVERAGE
In our opinion, the responsible use of leverage can enhance returns, but too much debt is concerning. The index favors companies with prudent leverage and optimizes the portfolio to direct capital away from highly levered companies.
GOVERNANCE
The governance factor model is used to avoid certain real estate risks. The index considers alignment between shareholder and management, derivation of revenue, and other governance indicators. Firms with significant governance risks are excluded from the portfolio.
| index | Month End Performance (As of 06/30/2026) | PPTY Nav Returns | PPTY Market Price Returns |
|---|---|---|---|
| 0 | Cumulative | ||
| 1 | 1 Month | 4.12% | 4.17% |
| 2 | 3 Month | 14.45% | 14.68% |
| 3 | Year To Date | 14.63% | 14.69% |
| 4 | Since Inception* | 80.62% | 80.95% |
| 5 | Average Annual | ||
| 6 | 1 Year | 15.58% | 15.84% |
| 7 | 3 Year | 9.43% | 9.52% |
| 8 | 5 Year | 3.39% | 3.42% |
| 9 | 10 Year | 0.00% | 0.00% |
| 10 | Since Inception* | 7.42% | 7.44% |
| index | Quarter End Performance (As of 06/30/2026) | PPTY Nav Returns | PPTY Market Price Returns |
|---|---|---|---|
| 0 | Cumulative | ||
| 1 | Quarter | 14.45% | 14.68% |
| 2 | Year To Date | 14.63% | 14.69% |
| 3 | Since Inception* | 80.62% | 80.95% |
| 4 | Average Annual | ||
| 5 | 1 Year | 15.58% | 15.84% |
| 6 | 3 Year | 9.43% | 9.52% |
| 7 | 5 Year | 3.39% | 3.42% |
| 8 | 10 Year | 0.00% | 0.00% |
| 9 | Since Inception* | 7.42% | 7.44% |
*Fund Inception Date: 3/26/2018
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Short term performance is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
As of DATE
| index | Name | Ticker | CUSIP or Other Identifier | Weight | Shares |
|---|---|---|---|---|---|
| 0 | Equinix Inc | EQIX | 29444U700 | 4.37% | 1,139 |
| 1 | Prologis Inc | PLD | 74340W103 | 3.82% | 7,169 |
| 2 | AvalonBay Communities Inc | AVB | 053484101 | 3.68% | 4,954 |
| 3 | Four Corners Property Trust Inc | FCPT | 35086T109 | 3.64% | 37,942 |
| 4 | Digital Realty Trust Inc | DLR | 253868103 | 3.28% | 4,948 |
| 5 | Welltower Inc | WELL | 95040Q104 | 3.10% | 3,435 |
| 6 | Kilroy Realty Corp | KRC | 49427F108 | 2.99% | 19,885 |
| 7 | Equity Residential | EQR | 29476L107 | 2.92% | 10,939 |
| 8 | Simon Property Group Inc | SPG | 828806109 | 2.90% | 3,353 |
| 9 | Terreno Realty Corp | TRNO | 88146M101 | 2.57% | 9,978 |
| 10 | Highwoods Properties Inc | HIW | 431284108 | 2.35% | 19,264 |
| 11 | American Homes 4 Rent | AMH | 02665T306 | 2.26% | 17,304 |
| 12 | Marriott International Inc/MD | MAR | 571903202 | 2.23% | 1,564 |
| 13 | Essex Property Trust Inc | ESS | 297178105 | 2.12% | 1,860 |
| 14 | Alexandria Real Estate Equities Inc | ARE | 015271109 | 2.10% | 10,460 |
| 15 | UDR Inc | UDR | 902653104 | 2.01% | 12,783 |
| 16 | Easterly Government Properties Inc | DEA | 27616P301 | 1.96% | 20,078 |
| 17 | WP Carey Inc | WPC | 92936U109 | 1.93% | 7,085 |
| 18 | COPT Defense Properties | CDP | 22002T108 | 1.89% | 13,104 |
| 19 | Innovative Industrial Properties Inc | IIPR | 45781V101 | 1.88% | 7,746 |
| 20 | STAG Industrial Inc | STAG | 85254J102 | 1.85% | 12,346 |
| 21 | Hilton Worldwide Holdings Inc | HLT | 43300A203 | 1.76% | 1,363 |
| 22 | Mid-America Apartment Communities Inc | MAA | 59522J103 | 1.76% | 3,237 |
| 23 | Vornado Realty Trust | VNO | 929042109 | 1.73% | 11,166 |
| 24 | Cousins Properties Inc | CUZ | 222795502 | 1.64% | 13,984 |
| 25 | EastGroup Properties Inc | EGP | 277276101 | 1.64% | 2,034 |
| 26 | Federal Realty Investment Trust | FRT | 313745101 | 1.64% | 3,526 |
| 27 | Regency Centers Corp | REG | 758849103 | 1.58% | 5,103 |
| 28 | Camden Property Trust | CPT | 133131102 | 1.53% | 3,407 |
| 29 | Independence Realty Trust Inc | IRT | 45378A106 | 1.52% | 22,926 |
| 30 | Kimco Realty Corp | KIM | 49446R109 | 1.38% | 14,287 |
| 31 | BXP Inc | BXP | 101121101 | 1.37% | 5,176 |
| 32 | LXP INDUSTRIAL TRUST | LXP | 529043408 | 1.24% | 5,857 |
| 33 | Ventas Inc | VTR | 92276F100 | 1.24% | 3,504 |
| 34 | Acadia Realty Trust | AKR | 004239109 | 1.17% | 14,421 |
| 35 | First Industrial Realty Trust Inc | FR | 32054K103 | 1.14% | 4,757 |
| 36 | Kite Realty Group Trust | KRG | 49803T300 | 0.97% | 8,844 |
| 37 | Public Storage | PSA | 74460D109 | 0.96% | 761 |
| 38 | Tanger Inc | SKT | 875465106 | 0.93% | 6,161 |
| 39 | Invitation Homes Inc | INVH | 46187W107 | 0.92% | 7,920 |
| 40 | Phillips Edison & Co Inc | PECO | 71844V201 | 0.92% | 5,688 |
| 41 | Getty Realty Corp | GTY | 374297109 | 0.89% | 6,807 |
| 42 | Cash & Other | Cash&Other | Cash&Other | 0.89% | 233,257 |
| 43 | Agree Realty Corp | ADC | 008492100 | 0.82% | 2,758 |
| 44 | Sun Communities Inc | SUI | 866674104 | 0.78% | 1,657 |
| 45 | Equity LifeStyle Properties Inc | ELS | 29472R108 | 0.74% | 2,922 |
| 46 | Empire State Realty Trust Inc | ESRT | 292104106 | 0.71% | 32,677 |
| 47 | Hyatt Hotels Corp | H | 448579102 | 0.71% | 964 |
| 48 | Extra Space Storage Inc | EXR | 30225T102 | 0.68% | 1,193 |
| 49 | Host Hotels & Resorts Inc | HST | 44107P104 | 0.66% | 7,430 |
| 50 | Realty Income Corp | O | 756109104 | 0.64% | 2,637 |
| 51 | Omega Healthcare Investors Inc | OHI | 681936100 | 0.62% | 3,293 |
| 52 | Ryman Hospitality Properties Inc | RHP | 78377T107 | 0.55% | 1,126 |
| 53 | InvenTrust Properties Corp | IVT | 46124J201 | 0.53% | 3,919 |
| 54 | American Healthcare REIT Inc | AHR | 398182303 | 0.49% | 2,345 |
| 55 | Brixmor Property Group Inc | BRX | 11120U105 | 0.48% | 4,036 |
| 56 | National HealthCare Corp | NHC | 635906100 | 0.46% | 551 |
| 57 | CareTrust REIT Inc | CTRE | 14174T107 | 0.45% | 2,813 |
| 58 | Apple Hospitality REIT Inc | APLE | 03784Y200 | 0.43% | 6,785 |
| 59 | DigitalBridge Group Inc | DBRG | 25401T603 | 0.43% | 7,180 |
| 60 | Wyndham Hotels & Resorts Inc | WH | 98311A105 | 0.40% | 1,275 |
| 61 | Choice Hotels International Inc | CHH | 169905106 | 0.37% | 871 |
| 62 | DiamondRock Hospitality Co | DRH | 252784301 | 0.37% | 8,044 |
| 63 | Sabra Health Care REIT Inc | SBRA | 78573L106 | 0.36% | 4,625 |
| 64 | Sunstone Hotel Investors Inc | SHO | 867892101 | 0.36% | 8,299 |
| 65 | CubeSmart | CUBE | 229663109 | 0.35% | 2,224 |
| 66 | LTC Properties Inc | LTC | 502175102 | 0.33% | 2,213 |
| 67 | National Health Investors Inc | NHI | 63633D104 | 0.33% | 1,118 |
| 68 | HEALTHPEAK PROPERTIES INC. | DOC | 42250P103 | 0.25% | 2,957 |
| 69 | UMH Properties Inc | UMH | 903002103 | 0.25% | 4,271 |
| 70 | Broadstone Net Lease Inc | BNL | 11135E203 | 0.13% | 1,620 |
| 71 | American Assets Trust Inc | AAT | 024013104 | 0.12% | 1,278 |
| 72 | Xenia Hotels & Resorts Inc | XHR | 984017103 | 0.12% | 1,551 |
| 73 | Healthcare Realty Trust Inc | HR | 42226K105 | 0.11% | 1,378 |
| 74 | NETSTREIT Corp | NTST | 64119V303 | 0.11% | 1,273 |
| 75 | Urban Edge Properties | UE | 91704F104 | 0.11% | 1,203 |
| 76 | Alexanders Inc | ALX | 014752109 | 0.10% | 96 |
| 77 | Douglas Emmett Inc | DEI | 25960P109 | 0.10% | 2,192 |
| 78 | NNN REIT Inc | NNN | 637417106 | 0.10% | 547 |
| 79 | Piedmont Realty Trust Inc | PDM | 720190206 | 0.10% | 2,772 |
| 80 | SL Green Realty Corp | SLG | 78440X887 | 0.10% | 513 |
| 81 | Essential Properties Realty Trust Inc | EPRT | 29670E107 | 0.09% | 764 |
| 82 | Global Net Lease Inc | GNL | 379378201 | 0.09% | 2,441 |
| 83 | U.S. Bank Money Market Deposit Account 06/01/2031 | USBFS03 | 8AMMF0A84 | 0.09% | 22,529 |
| 84 | Centerspace | CSR | 15202L107 | 0.08% | 358 |
| 85 | JBG SMITH Properties | JBGS | 46590V100 | 0.08% | 1,369 |
| 86 | Rexford Industrial Realty Inc | REXR | 76169C100 | 0.08% | 585 |
As of DATE
As of DATE
| index | Name | Weight |
|---|---|---|
| 0 | Retail REITs | 15.37% |
| 1 | Multi-Family Residential REITs | 15.28% |
| 2 | Industrial REITs | 14.68% |
| 3 | Office REITs | 13.86% |
| 4 | Health Care REITs | 9.46% |
| 5 | Data Center REITs | 8.72% |
| 6 | Hotels, Resorts & Cruise Lines | 5.69% |
| 7 | Single-Family Residential REITs | 5.00% |
| 8 | Other Specialized REITs | 3.82% |
| 9 | Diversified REITs | 2.57% |
| 10 | Hotel & Resort REITs | 2.45% |
| 11 | Self-Storage REITs | 1.99% |
| 12 | Asset Management & Custody Banks | 0.46% |
| 13 | Health Care Facilities | 0.41% |
| 14 | Money Market Deposit Account | 0.24% |
As of DATE
As of DATE
| index | Ex-Dividend Date | Income | ST Cap Gains | MD Cap Gains | LT Cap Gains |
|---|---|---|---|---|---|
| 0 | 04/16/2026 | 0.254282030 | |||
| 1 | 10/21/2025 | 0.303784420 | |||
| 2 | 07/17/2025 | 0.310831060 | |||
| 3 | 04/16/2025 | 0.300089690 | |||
| 4 | 10/16/2024 | 0.544170460 | |||
| 5 | 07/16/2024 | 0.271142530 | |||
| 6 | 04/16/2024 | 0.240887590 | |||
| 7 | 12/15/2023 | 0.291009660 | |||
| 8 | 10/17/2023 | 0.303018850 | |||
| 9 | 07/11/2023 | 0.298152720 | |||
| 10 | 04/11/2023 | 0.341218040 | |||
| 11 | 12/16/2022 | 0.2681998 | |||
| 12 | 10/18/2022 | 0.36100839 | |||
| 13 | 07/19/2022 | 0.28340514 | |||
| 14 | 04/19/2022 | 0.29128418 | |||
| 15 | 12/30/2021 | 0.28264844 | |||
| 16 | 12/17/2021 | 0.04984024 | |||
| 17 | 10/19/2021 | 0.26184459 | |||
| 18 | 07/20/2021 | 0.26397021 | |||
| 19 | 04/20/2021 | 0.27559982 | |||
| 20 | 12/18/2020 | 0.24391827 | |||
| 21 | 10/20/2020 | 0.25226808 | |||
| 22 | 07/21/2020 | 0.19973977 | |||
| 23 | 04/21/2020 | 0.30084733 | |||
| 24 | 12/19/2019 | 0.25217751 | |||
| 25 | 10/15/2019 | 0.29728635 | |||
| 26 | 07/16/2019 | 0.26251215 | |||
| 27 | 04/09/2019 | 0.20977681 | |||
| 28 | 03/19/2019 | 0.05033794 | |||
| 29 | 12/19/2018 | 0.03715127 | 0.04776 | 0.02467085 | |
| 30 | 09/18/2018 | 0.029251481 | |||
| 31 | 06/19/2018 | 0.012199864 |
