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INDSPacer

Pacer Benchmark Industrial Real Estate SCTR ETF

$41.40+0.14% today
364352-WK

The index was developed by Kelly Benchmark Indexes, the index provider (the "index provider"), and measures the performance of the industrial real estate sector of the U.S. equity market, which includes warehouse and self-storage real estate sub-sectors. Under normal circumstances, the fund will invest at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in companies the industrial real estate sector. The fund is non-diversified.

Price & daily flows
41.339.437.541.40DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned +12.4% so far this year. At 0.55% a year it is not the cheapest way in — VNQ runs the same ground at 0.12%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$222Massets under management
0.55%expense ratio · $55 per $10,000 a year
net flow, trailing month
10Kavg daily volume, 30 days
30holdings · US-domiciled
2018listed May 13, 2018
Sector weights
Real Estate100%
Finance95.42%
Other15.68%
UNIT2.2%
Miscellaneous2.19%
Cash0.19%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States70.76%
Other16.49%
United Kingdom10.15%
Singapore4.63%
Belgium3.59%
Canada3.43%
Sweden3.14%
Japan2.49%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-0.2%
1 month-0.2%
3 months+3.3%
6 months+3.8%
YTD+12.4%
1 year+10.2%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
11%realized volatility, 30 days (annualized)
16%realized volatility, 1 year
-12.3%deepest fall from a peak, 1 year
-3.0%where it sits vs. that peak today

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
calls today
puts today
put/call ratio
4Kshares traded
The case against INDS

Due diligence cuts both ways. These funds sit on the same shelf and beat INDS on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
USRT iShares Core U.S. REIT ETF0.08%$3.7B-47bp on fee · 17× the assetsHead-to-head
VNQ Vanguard Real Estate Index Fund0.12%$36.5B-43bp on fee · 165× the assetsHead-to-head
VNQI Vanguard Global ex-U.S. Real Estate Index Fund0.12%$3.6B-43bp on fee · 16× the assetsHead-to-head
REET iShares Global REIT ETF0.14%$4.7B-41bp on fee · 21× the assetsHead-to-head
ICF iShares Cohen & Steers REIT ETF0.33%$2B-22bp on fee · 9× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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