VRE vs. ARB ETF Comparison

Comparison of Vanguard FTSE Canadian Capped REIT Index ETF (VRE) to Accelerate Arbitrage Fund ETF (ARB)

VRE

Vanguard FTSE Canadian Capped REIT Index ETF

VRE Description

The ETF seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a broad Canadian real estate equity index that measures the investment return of publicly traded securities in the Canadian real estate sector. Currently, this Vanguard ETF seeks to track the FTSE Canada All Cap Real Estate Capped 25% Index (or any successor thereto). It invests primarily in stocks of companies in the Canadian real estate sector.

Grade (RS Rating)

Last Trade

$28.51

Average Daily Volume

6,493

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

ARB

Accelerate Arbitrage Fund ETF

ARB Description

Accelerate Arbitrage Fund (ARB) seeks to achieve long-termcapital appreciation and a superior risk-adjusted return relative tothe S&P Merger Arbitrage Index. ARB seeks to outperform theS&P Merger Arbitrage Index through an arbitrage investmentstrategy by investing primarily in listed equity, debt or derivativesecurities of target companies involved in mergers or corporateactions, while selling short certain listed equity, debt or derivativesecurities of acquirer companies involved in mergers or corporateactions, where applicable. The aggregate notional amount ofderivatives used for non-hedging purposes will not exceed thelimits permitted under applicable securities legislation. ARB hasobtained exemptive relief to permit it to sell securities short up toan aggregate market value of 100% of ARB’s NAV.

Grade (RS Rating)

Last Trade

$26.16

Average Daily Volume

2,208

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

Performance

Period	VRE	ARB
30 Days	-6.53%	-0.91%
60 Days	-5.85%	-0.27%
90 Days	-6.16%	1.20%
12 Months	-6.22%	2.51%

1 Overlapping Holdings

	Symbol	Grade	Weight in VRE	Weight in ARB	Overlap
	TCN	A	5.93%	3.65%	3.65%

VRE Overweight 8 Positions Relative to ARB

	Symbol	Grade	Weight
	FSV	D	13.93%
	CAR.UN	D	12.56%
	REI.UN	D	8.95%
	CIGI	D	8.37%
	GRT.UN	D	7.48%
	CHP.UN	D	5.72%
	DIR.UN	D	5.38%
	BEI.UN	D	5.08%

VRE Underweight 0 Positions Relative to ARB

	Symbol	Grade	Weight

VRE: Top Represented Industries & Keywords

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

Keywords: Real Estate Real Estate Investment Trust Investment Trust Real Estate Investment Residential Apartment Open Ended Real Estate Investment Trust Colliers International Financial Industrial Real Estate Real Estate Industry Residential Real Estate Retail Riocan Real Estate Investment Trust Trust Law Acquisitions Advisory Services Asset Management Asset Management Services Balance Sheet

ARB: Top Represented Industries & Keywords

Industries: Real Estate Services

Keywords: Apartment Cars Credit Investor Lifestyle Real Estate Real Estate Industry Residential Residential Real Estate