GQRE
FlexShares Global Quality Real Estate Index Fund
FlexShares Global Quality Real Estate Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Northern Trust Global Quality Real Estate Index.
Global
EQUITY
Passive
MANAGEMENT STYLE
394.4 M
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust Investments Inc |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 05, 2013 |
| Assets (mns) | $394 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| SIMON PROPERTY GROUP INC | 5.5 % |
| DIGITAL REALTY TRUST INC | 5.0 % |
| AVALONBAY COMMUNITIES INC | 4.3 % |
| EQUITY RESIDENTIAL | 3.8 % |
| PROLOGIS INC | 3.4 % |
| WEYERHAEUSER CO | 3.4 % |
| AMERICAN TOWER CORP-CL A | 2.7 % |
| ESSEX PROPERTY TRUST INC | 2.7 % |
| IRON MOUNTAIN INC | 2.3 % |
| VICI PROPERTIES INC | 2.1 % |
Constituent Breakdown
| Number of holdings | 163 |
| Herfindahl-Hirschman Index | 189 |
| Wgt avg mkt cap (mns) | $23,178 |
| Large cap (>$10bn) | 57.1% |
| Mid cap ($2-10bn) | 33.1% |
| Small cap (<$2bn) | 8.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 66.9 % |
 |
JAPAN | 9.9 % |
 |
AUSTRALIA | 3.9 % |
 |
HONG KONG | 3.3 % |
 |
SINGAPORE | 3.0 % |
 |
BRITAIN | 1.6 % |
 |
NETHERLANDS | 1.6 % |
 |
ISRAEL | 1.6 % |
 |
FRANCE | 1.6 % |
 |
CANADA | 1.4 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.4% | 30.6% | 10.9% | -2.2% | 1.0% | 3.8% | 4.8% | Volatility | 13.9% | 15.9% | 16.8% | 18.1% | 22.0% | 17.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 76% |
| MSCI EAFE | 0.98 | 77% |
| MSCI Emg Mkts | 0.78 | 47% |
Liquidity Measures
| Avg. volume (000) | 15 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $7,199 |
Technical Indicators
| Recent close | $60.68 |
| 30d moving avg. | $61.49 |
| Annualized volatility | 19.9% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GQRE |
Expenses vs. GQRE |
ALTAR Score™ vs. GQRE |
|---|---|---|---|---|
| VGSR | Vert Global Sustainable Real Estate ETF | 43.8% | +2 bp | -0.3% |
| FRI | First Trust S&P REIT Index Fund | 42.8% | +5 bp | 0.0% |
| USRT | iShares Core U.S. REIT ETF | 42.8% | -37 bp | +0.4% |
| DFAR | Dimensional US Real Estate ETF | 42.7% | -26 bp | +0.4% |
| SCHH | Schwab U.S. REIT ETF | 42.6% | -38 bp | +0.6% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 42.4% | -34 bp | +0.4% |
| ERET | iShares Environmentally Aware Real Estate ETF | 41.9% | -15 bp | +0.5% |
| CRED | Columbia Research Enhanced Real Estate ETF | 41.6% | -12 bp | +1.1% |
| VNQ | Vanguard Real Estate ETF | 41.0% | -33 bp | +0.2% |
| ICF | iShares Cohen & Steers REIT ETF | 41.0% | -12 bp | -0.2% |
Risk and Returns: GQRE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
GQRE
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
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™
GQRE
5.9%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 376 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. GQRE's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places GQRE in the 65th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GQRESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| GQRE (45 bp) Percentile rank | 41 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GQRE | 45.0 | 16.7 | 61.7 |
| Peer Avg. | 46.9 | 14.1 | 61.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .