MREL vs. VXM ETF Comparison

Comparison of Middlefield Real Estate Dividend ETF (MREL) to First Asset Morningstar International Value Index ETF (VXM)

MREL

Middlefield Real Estate Dividend ETF

MREL Description

Middlefield Real Estate Dividend ETF is an exchange traded fund launched by Middlefield Limited. It is managed by Middlefield Capital Corporation. The fund invests in public equity markets of global region. It invests in stocks of companies operating across mortgage real estate investment trusts (reits), financials, diversified financials, equity real estate investment trusts (reits) sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. It seeks to benchmark the performance of its portfolio against the S&P/TSX Capped REIT Total Return Index. Middlefield Real Estate Dividend ETF was formed on April 20, 2011 and is domiciled in Canada.

Grade (RS Rating)

Last Trade

$11.73

Average Daily Volume

10,546

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

VXM

First Asset Morningstar International Value Index ETF

VXM Description

The ETF has been designed to replicate, to the extent possible, the performance of the Morningstar® Developed Markets ex-North America Target Value Index™, net of expenses. The ETF invests in equity securities of the largest and most liquid issuers from countries classified by Morningstar as developed markets, excluding the U.S. and Canada, based on proprietary research generated by Morningstar, and is designed to provide diversified exposure to issuers from developed markets, excluding the U.S. and Canada, which are considered to be “good value” based on characteristics like low price to earnings and low price to cash flow ratios.

Grade (RS Rating)

Last Trade

$34.62

Average Daily Volume

1,224

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	MREL	VXM
30 Days	4.08%	5.25%
60 Days	-2.17%	8.07%
90 Days	-3.77%	11.87%
12 Months	-2.66%	28.68%

0 Overlapping Holdings

	Symbol	Grade	Weight in MREL	Weight in VXM	Overlap

MREL Overweight 8 Positions Relative to VXM

	Symbol	Grade	Weight
	REI.UN	F	6.84%
	CAR.UN	D	6.43%
	BEI.UN	D	6.2%
	GRT.UN	F	5.87%
	DIR.UN	C	4.24%
	CHP.UN	D	3.81%
	KMP.UN	C	3.48%
	FCR.UN	D	3.23%

MREL Underweight 1 Positions Relative to VXM

	Symbol	Grade	Weight
	CIA	B	-0.57%

MREL: Top Represented Industries & Keywords

Industries: REIT - Retail REIT - Industrial REIT - Residential Rental & Leasing Services

Keywords: Real Estate Real Estate Investment Trust Investment Trust Real Estate Investment Apartment Open Ended Real Estate Investment Trust Residential Industrial Real Estate Renovation Retail Riocan Real Estate Investment Trust Trust Law Acquisitions Atlantic Canada Balance Sheet Ball Boilers Brampton Cash Flow Choice Properties Reit

VXM: Top Represented Industries & Keywords

Industries: Industrial Metals & Minerals

Keywords: Fermont Iron Ore Labrador City Mineral Minerals Schefferville