NETL
NETLease Corporate Real Estate ETF
The NETLease Corporate Real Estate ETF seeks to track the performance before fees and expenses of the Fundamental Income Net Lease Real Estate Index. NETL seeks to provide investors access to sustainable income with predictable growth through investments
US
EQUITY
Rules-Based
MANAGEMENT STYLE
45.8 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2019 |
| Assets (mns) | $46 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| WP CAREY INC | 8.1 % |
| VICI PROPERTIES INC | 7.9 % |
| NATIONAL RETAIL PROPERTIES | 7.7 % |
| REALTY INCOME CORP | 7.6 % |
| STAG INDUSTRIAL INC | 7.5 % |
| GLADSTONE COMMERCIAL CORP | 4.7 % |
| ESSENTIAL PROPERTIES REALTY TRUST, INC. | 4.4 % |
| AGREE REALTY CORP | 4.3 % |
| ONE LIBERTY PROPERTIES INC | 4.3 % |
| GETTY REALTY CORP | 4.3 % |
Constituent Breakdown
| Number of holdings | 21 |
| Herfindahl-Hirschman Index | 537 |
| Wgt avg mkt cap (mns) | $6,860 |
| Large cap (>$10bn) | 27.2% |
| Mid cap ($2-10bn) | 43.1% |
| Small cap (<$2bn) | 29.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 99.3 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.6% | 16.9% | 4.4% | 0.1% | 2.9% | -- | 5.0% | Volatility | 16.5% | 17.5% | 18.0% | 19.4% | 29.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 63% |
| MSCI EAFE | 0.92 | 65% |
| MSCI Emg Mkts | 0.67 | 33% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.44% |
| ADV of underlying (mns) | $702 |
Technical Indicators
| Recent close | $23.49 |
| 30d moving avg. | $25.34 |
| Annualized volatility | 20.0% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 3.1% |
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. NETL |
Expenses vs. NETL |
ALTAR Score™ vs. NETL |
|---|---|---|---|---|
| KBWY | Invesco KBW Premium Yield Equity REIT ETF | 31.0% | -25 bp | +8.6% |
| IRET | iREIT - MarketVector Quality REIT Index ETF | 20.9% | 0 bp | -2.5% |
| RDOG | ALPS REIT Dividend Dogs ETF | 19.6% | -25 bp | +8.9% |
| SRET | Global X SuperDividend REIT ETF | 19.4% | -1 bp | +1.2% |
| RIET | Hoya Capital High Dividend Yield ETF | 16.8% | -10 bp | +3.5% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 13.6% | -49 bp | -2.6% |
| BLDG | Cambria Global Real Estate ETF | 13.6% | 0 bp | +6.2% |
| CRED | Columbia Research Enhanced Real Estate ETF | 13.6% | -27 bp | -1.6% |
| FRI | First Trust S&P REIT Index Fund | 13.2% | -10 bp | -2.9% |
| USRT | iShares Core U.S. REIT ETF | 12.9% | -52 bp | -2.5% |
Risk and Returns: NETL 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 12/20/2024
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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
NETL
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
NETL
9.3%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. NETL's ALTAR Score™ is approximately
1.4 standard deviations
above
the category average. This places NETL in the 92nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NETLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| NETL (60 bp) Percentile rank | 66 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NETL | 60.0 | 44.1 | 104.1 |
| Peer Avg. | 44.0 | 16.8 | 60.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .