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.
04/29/2026
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 03/31/2026) | PPTY Nav Returns | PPTY Market Price Returns |
|---|---|---|---|
| 0 | Cumulative | ||
| 1 | 1 Month | -5.40% | -5.37% |
| 2 | 3 Month | 0.16% | 0.01% |
| 3 | Year To Date | 0.16% | 0.01% |
| 4 | Since Inception* | 57.81% | 57.79% |
| 5 | Average Annual | ||
| 6 | 1 Year | -1.59% | -1.70% |
| 7 | 3 Year | 5.92% | 5.95% |
| 8 | 5 Year | 2.65% | 2.53% |
| 9 | 10 Year | 0.00% | 0.00% |
| 10 | Since Inception* | 5.86% | 5.86% |
| index | Quarter End Performance (As of 03/31/2026) | PPTY Nav Returns | PPTY Market Price Returns |
|---|---|---|---|
| 0 | Cumulative | ||
| 1 | Quarter | 0.16% | 0.01% |
| 2 | Year To Date | 0.16% | 0.01% |
| 3 | Since Inception* | 57.81% | 57.79% |
| 4 | Average Annual | ||
| 5 | 1 Year | -1.59% | -1.70% |
| 6 | 3 Year | 5.92% | 5.95% |
| 7 | 5 Year | 2.65% | 2.53% |
| 8 | 10 Year | 0.00% | 0.00% |
| 9 | Since Inception* | 5.86% | 5.86% |
*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 | 5.12% | 1,133 |
| 1 | Prologis Inc | PLD | 74340W103 | 4.11% | 7,134 |
| 2 | Digital Realty Trust Inc | DLR | 253868103 | 3.98% | 4,924 |
| 3 | Four Corners Property Trust Inc | FCPT | 35086T109 | 3.97% | 37,755 |
| 4 | AvalonBay Communities Inc | AVB | 053484101 | 3.77% | 4,930 |
| 5 | Welltower Inc | WELL | 95040Q104 | 3.01% | 3,418 |
| 6 | Equity Residential | EQR | 29476L107 | 2.96% | 10,885 |
| 7 | Simon Property Group Inc | SPG | 828806109 | 2.77% | 3,337 |
| 8 | Kilroy Realty Corp | KRC | 49427F108 | 2.70% | 19,780 |
| 9 | Terreno Realty Corp | TRNO | 88146M101 | 2.67% | 9,929 |
| 10 | Marriott International Inc/MD | MAR | 571903202 | 2.29% | 1,556 |
| 11 | American Homes 4 Rent | AMH | 02665T306 | 2.24% | 17,218 |
| 12 | WP Carey Inc | WPC | 92936U109 | 2.11% | 7,050 |
| 13 | Essex Property Trust Inc | ESS | 297178105 | 2.04% | 1,851 |
| 14 | STAG Industrial Inc | STAG | 85254J102 | 1.94% | 12,285 |
| 15 | Easterly Government Properties Inc | DEA | 27616P301 | 1.92% | 19,980 |
| 16 | UDR Inc | UDR | 902653104 | 1.91% | 12,720 |
| 17 | Highwoods Properties Inc | HIW | 431284108 | 1.89% | 19,169 |
| 18 | Alexandria Real Estate Equities Inc | ARE | 015271109 | 1.77% | 10,409 |
| 19 | Hilton Worldwide Holdings Inc | HLT | 43300A203 | 1.77% | 1,357 |
| 20 | Mid-America Apartment Communities Inc | MAA | 59522J103 | 1.73% | 3,221 |
| 21 | Innovative Industrial Properties Inc | IIPR | 45781V101 | 1.70% | 7,707 |
| 22 | COPT Defense Properties | CDP | 22002T108 | 1.67% | 13,040 |
| 23 | Regency Centers Corp | REG | 758849103 | 1.67% | 5,077 |
| 24 | EastGroup Properties Inc | EGP | 277276101 | 1.66% | 2,024 |
| 25 | Federal Realty Investment Trust | FRT | 313745101 | 1.61% | 3,509 |
| 26 | Independence Realty Trust Inc | IRT | 45378A106 | 1.54% | 22,813 |
| 27 | Camden Property Trust | CPT | 133131102 | 1.48% | 3,390 |
| 28 | Cousins Properties Inc | CUZ | 222795502 | 1.45% | 13,915 |
| 29 | Kimco Realty Corp | KIM | 49446R109 | 1.40% | 14,217 |
| 30 | Vornado Realty Trust | VNO | 929042109 | 1.35% | 11,110 |
| 31 | Acadia Realty Trust | AKR | 004239109 | 1.29% | 14,350 |
| 32 | Ventas Inc | VTR | 92276F100 | 1.26% | 3,487 |
| 33 | BXP Inc | BXP | 101121101 | 1.23% | 5,151 |
| 34 | First Industrial Realty Trust Inc | FR | 32054K103 | 1.21% | 4,733 |
| 35 | LXP INDUSTRIAL TRUST | LXP | 529043408 | 1.21% | 5,828 |
| 36 | Kite Realty Group Trust | KRG | 49803T300 | 0.95% | 8,800 |
| 37 | Phillips Edison & Co Inc | PECO | 71844V201 | 0.94% | 5,661 |
| 38 | Tanger Inc | SKT | 875465106 | 0.93% | 6,131 |
| 39 | Getty Realty Corp | GTY | 374297109 | 0.92% | 6,773 |
| 40 | Invitation Homes Inc | INVH | 46187W107 | 0.92% | 7,882 |
| 41 | Public Storage | PSA | 74460D109 | 0.92% | 757 |
| 42 | Agree Realty Corp | ADC | 008492100 | 0.87% | 2,744 |
| 43 | Sun Communities Inc | SUI | 866674104 | 0.87% | 1,648 |
| 44 | Empire State Realty Trust Inc | ESRT | 292104106 | 0.76% | 32,517 |
| 45 | Equity LifeStyle Properties Inc | ELS | 29472R108 | 0.75% | 2,907 |
| 46 | Extra Space Storage Inc | EXR | 30225T102 | 0.69% | 1,187 |
| 47 | Realty Income Corp | O | 756109104 | 0.69% | 2,624 |
| 48 | Host Hotels & Resorts Inc | HST | 44107P104 | 0.65% | 7,393 |
| 49 | Omega Healthcare Investors Inc | OHI | 681936100 | 0.64% | 3,277 |
| 50 | Hyatt Hotels Corp | H | 448579102 | 0.63% | 959 |
| 51 | InvenTrust Properties Corp | IVT | 46124J201 | 0.52% | 3,900 |
| 52 | Brixmor Property Group Inc | BRX | 11120U105 | 0.50% | 4,016 |
| 53 | American Healthcare REIT Inc | AHR | 398182303 | 0.49% | 2,333 |
| 54 | Ryman Hospitality Properties Inc | RHP | 78377T107 | 0.48% | 1,121 |
| 55 | DigitalBridge Group Inc | DBRG | 25401T603 | 0.46% | 7,145 |
| 56 | CareTrust REIT Inc | CTRE | 14174T107 | 0.45% | 2,799 |
| 57 | Wyndham Hotels & Resorts Inc | WH | 98311A105 | 0.44% | 1,268 |
| 58 | Choice Hotels International Inc | CHH | 169905106 | 0.42% | 867 |
| 59 | National HealthCare Corp | NHC | 635906100 | 0.40% | 548 |
| 60 | Sabra Health Care REIT Inc | SBRA | 78573L106 | 0.39% | 4,602 |
| 61 | Sila Realty Trust Inc | SILA | 146280508 | 0.39% | 3,087 |
| 62 | Apple Hospitality REIT Inc | APLE | 03784Y200 | 0.38% | 6,751 |
| 63 | CubeSmart | CUBE | 229663109 | 0.36% | 2,213 |
| 64 | LTC Properties Inc | LTC | 502175102 | 0.35% | 2,202 |
| 65 | National Health Investors Inc | NHI | 63633D104 | 0.35% | 1,112 |
| 66 | DiamondRock Hospitality Co | DRH | 252784301 | 0.34% | 8,004 |
| 67 | Sunstone Hotel Investors Inc | SHO | 867892101 | 0.34% | 8,257 |
| 68 | UMH Properties Inc | UMH | 903002103 | 0.27% | 4,250 |
| 69 | HEALTHPEAK PROPERTIES INC. | DOC | 42250P103 | 0.20% | 2,943 |
| 70 | Veris Residential Inc | VRE | 554489104 | 0.16% | 1,994 |
| 71 | Broadstone Net Lease Inc | BNL | 11135E203 | 0.13% | 1,612 |
| 72 | U.S. Bank Money Market Deposit Account 06/01/2031 | USBFS03 | 8AMMF0A84 | 0.12% | 28,688 |
| 73 | American Assets Trust Inc | AAT | 024013104 | 0.11% | 1,271 |
| 74 | Healthcare Realty Trust Inc | HR | 42226K105 | 0.11% | 1,371 |
| 75 | NETSTREIT Corp | NTST | 64119V303 | 0.11% | 1,267 |
| 76 | Urban Edge Properties | UE | 91704F104 | 0.11% | 1,197 |
| 77 | Alexanders Inc | ALX | 014752109 | 0.10% | 96 |
| 78 | Centerspace | CSR | 15202L107 | 0.10% | 356 |
| 79 | Douglas Emmett Inc | DEI | 25960P109 | 0.10% | 2,182 |
| 80 | Essential Properties Realty Trust Inc | EPRT | 29670E107 | 0.10% | 760 |
| 81 | Global Net Lease Inc | GNL | 379378201 | 0.10% | 2,429 |
| 82 | NNN REIT Inc | NNN | 637417106 | 0.10% | 544 |
| 83 | Xenia Hotels & Resorts Inc | XHR | 984017103 | 0.10% | 1,543 |
| 84 | Piedmont Realty Trust Inc | PDM | 720190206 | 0.09% | 2,759 |
| 85 | Rexford Industrial Realty Inc | REXR | 76169C100 | 0.09% | 582 |
| 86 | SL Green Realty Corp | SLG | 78440X887 | 0.09% | 511 |
| 87 | JBG SMITH Properties | JBGS | 46590V100 | 0.08% | 1,362 |
| 88 | Cash & Other | Cash&Other | Cash&Other | 0.05% | 10,949 |
As of DATE
As of DATE
| index | Name | Weight |
|---|---|---|
| 0 | Retail REITs | 15.67% |
| 1 | Multi-Family Residential REITs | 15.35% |
| 2 | Industrial REITs | 14.77% |
| 3 | Office REITs | 12.96% |
| 4 | Health Care REITs | 9.82% |
| 5 | Data Center REITs | 8.89% |
| 6 | Hotels, Resorts & Cruise Lines | 5.57% |
| 7 | Single-Family Residential REITs | 5.02% |
| 8 | Other Specialized REITs | 3.97% |
| 9 | Diversified REITs | 2.57% |
| 10 | Hotel & Resort REITs | 2.20% |
| 11 | Self-Storage REITs | 1.97% |
| 12 | Asset Management & Custody Banks | 0.49% |
| 13 | Health Care Facilities | 0.39% |
| 14 | Money Market Deposit Account | 0.36% |
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 |
