VRE vs. MREL ETF Comparison

Comparison of Vanguard FTSE Canadian Capped REIT Index ETF (VRE) to Middlefield Real Estate Dividend ETF (MREL)

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

$33.01

Average Daily Volume

8,301

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

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

$12.63

Average Daily Volume

8,230

Number of Holdings ^*

7

* may have additional holdings in another (foreign) market

Performance

Period	VRE	MREL
30 Days	-3.68%	-2.77%
60 Days	-6.06%	-5.04%
90 Days	-0.06%	-0.24%
12 Months	18.18%	11.63%

6 Overlapping Holdings

	Symbol	Grade	Weight in VRE	Weight in MREL	Overlap
	BEI.UN	D	5.01%	5.85%	5.01%
	CAR.UN	D	13.2%	7.25%	7.25%
	CHP.UN	C	6.01%	3.68%	3.68%
	CSH.UN	A	6.01%	5.05%	5.05%
	FCR.UN	C	5.71%	3.42%	3.42%
	REI.UN	C	8.76%	6.89%	6.89%

VRE Overweight 4 Positions Relative to MREL

	Symbol	Grade	Weight
	FSV	A	14.22%
	CIGI	D	12.77%
	GRT.UN	D	7.41%
	DIR.UN	D	5.68%

VRE Underweight 1 Positions Relative to MREL

	Symbol	Grade	Weight
	KMP.UN	D	-3.62%

VRE: Top Represented Industries & Keywords

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

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

MREL: Top Represented Industries & Keywords

Industries: REIT - Retail REIT - Residential REIT - Healthcare Facilities Rental & Leasing Services

Keywords: Investment Trust Real Estate Real Estate Investment Real Estate Investment Trust Apartment Open Ended Real Estate Investment Trust Residential Renovation Retail Riocan Real Estate Investment Trust Acquisitions Assisted Living Atlantic Canada Boilers Brampton Care Services Caregiving Choice Properties Reit Diversification Dow