XRE vs. MREL ETF Comparison

Comparison of iShares S&P/TSX Capped REIT Index ETF (XRE) to Middlefield Real Estate Dividend ETF (MREL)

XRE

iShares S&P/TSX Capped REIT Index ETF

XRE Description

iShares S&P/TSX Capped REIT Index Fund, formerly iShares CDN S&P/TSX Capped REIT Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Capped REIT Index (the Index) through investments in the constituent issuers of such Index. The Index consists of securities of Canadian real estate investment trusts (REITs) listed on the Toronto Stock Exchange (TSX), selected by Standard & Poor’s (S&P) using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. The Fund is managed by BlackRock Asset Management Canada Limited.

Grade (RS Rating)

Last Trade

$16.09

Average Daily Volume

492,420

Number of Holdings ^*

* 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

$12.54

Average Daily Volume

7,818

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	XRE	MREL
30 Days	-5.74%	-2.94%
60 Days	-4.67%	-2.64%
90 Days	2.33%	2.45%
12 Months	10.74%	11.71%

5 Overlapping Holdings

Symbol	Grade	Weight in XRE	Weight in MREL	Overlap
BEI.UN	F	6.28%	5.85%	5.85%
CAR.UN	F	16.65%	7.25%	7.25%
CHP.UN	D	7.46%	3.68%	3.68%
FCR.UN	D	7.21%	3.42%	3.42%
REI.UN	D	11.07%	6.89%	6.89%

XRE Overweight 3 Positions Relative to MREL

Symbol	Grade	Weight
DIR.UN	D	7.21%
HR.UN	D	5.43%
AP.UN	C	4.69%

XRE Underweight 2 Positions Relative to MREL

	Symbol	Grade	Weight
	CSH.UN	B	-5.05%
	KMP.UN	D	-3.62%

MREL: Top Represented Industries & Keywords

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