ZRE vs. MREL ETF Comparison

Comparison of BMO Equal Weight REITs Index ETF (ZRE) to Middlefield Real Estate Dividend ETF (MREL)

ZRE

BMO Equal Weight REITs Index ETF

ZRE Description

BMO Equal Weight REITs Index ETF seeks to replicate, to the extent possible, the performance of an equal weight Canadian REITs index, net of expenses. Currently, the fund seeks to replicate the performance of the Solactive Equal Weight Canada REIT Index.

Grade (RS Rating)

Last Trade

$21.75

Average Daily Volume

34,911

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

$12.59

Average Daily Volume

8,082

Number of Holdings ^*

7

* may have additional holdings in another (foreign) market

Performance

Period	ZRE	MREL
30 Days	-6.37%	-4.55%
60 Days	-8.42%	-6.95%
90 Days	2.59%	2.61%
12 Months	13.58%	11.66%

1 Overlapping Holdings

	Symbol	Grade	Weight in ZRE	Weight in MREL	Overlap
	FCR.UN	C	4.86%	3.42%	3.42%

ZRE Overweight 9 Positions Relative to MREL

	Symbol	Grade	Weight
	AP.UN	D	5.13%
	NWH.UN	D	4.98%
	GRT.UN	D	4.84%
	PMZ.UN	C	4.8%
	HR.UN	D	4.8%
	DIR.UN	D	4.78%
	AX.UN	C	4.77%
	CRR.UN	D	4.76%
	SGR.U	B	4.75%

ZRE Underweight 6 Positions Relative to MREL

	Symbol	Grade	Weight
	CAR.UN	D	-7.25%
	REI.UN	D	-6.89%
	BEI.UN	D	-5.85%
	CSH.UN	A	-5.05%
	CHP.UN	D	-3.68%
	KMP.UN	D	-3.62%

ZRE: Top Represented Industries & Keywords

Industries: REIT - Retail REIT - Healthcare Facilities REIT - Industrial Diversified Industrials Oil & Gas Equipment & Services Savings & Cooperative Banks

Keywords: Real Estate Investment Trust Real Estate Investment Trust Real Estate Investment Retail Tax Cash Flow Dream Office Real Estate Investment Trust Flow H&R Reit Industrial Real Estate Light Real Estate Assets Residential Riocan Real Estate Investment Trust Trust Law Active Management Allied Asset Classes 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