Fund · U.S. Diversified Real Estate ETF · measured from SEC filings
PPTY holdings
PPTY reports 87 holdings and behaves like 46.7 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-05-31. The fact sheet publishes the first number; this page computes the second, and traces it across 27 quarters of filings.
Measured concentration
as of 2026-05-31Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table . Pricing: 99.76% at a quoted market price (level 1), one issuer country.
What stands out
as of 2026-05-31Ten companies are 34.3% of the fund; the other 77 share the rest. Among the 721 equity funds measured here, PPTY behaves like 46.7 holdings against a median of 42.4 — close to the median. Across 27 quarterly filings PPTY has become more concentrated: it behaved like 60.1 at 2019-11-30 and 46.7 at 2026-05-31. Between the 2026-02-28 and 2026-05-31 filings 0 positions were added and 2 dropped; 2.9% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable equity funds on this site. Nothing here is a view on the fund.
Every filing since 2019
27Between 2019-11-30 and 2026-05-31, PPTY went from behaving like 60.1 equally weighted positions to 46.7 — 22% fewer, while its top ten went from 28.95% to 34.3% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-05-31 | 87 | 46.7 | 34.3% | 4.92% |
| 2026-02-28 | 89 | 47.1 | 34.08% | 4.62% |
| 2025-11-30 | 91 | 47.3 | 34.1% | 4.71% |
| 2025-08-31 | 91 | 48 | 33.09% | 4.11% |
| 2025-05-31 | 91 | 48.8 | 33.55% | 4.12% |
| 2025-02-28 | 91 | 48.7 | 33.34% | 4.04% |
| 2024-11-30 | 95 | 47.4 | 34.53% | 4.66% |
| 2024-08-31 | 95 | 49.2 | 33.37% | 4.05% |
Earlier filings (19 more, back to 2019-11-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-05-31 | 95 | 52.2 | 31.41% | 4% |
| 2024-02-29 | 96 | 51.1 | 32.26% | 4.22% |
| 2023-11-30 | 99 | 48.2 | 33.72% | 4.31% |
| 2023-08-31 | 98 | 48.3 | 33.68% | 4.02% |
| 2023-05-31 | 101 | 48.7 | 34.49% | 4.6% |
| 2023-02-28 | 101 | 51.1 | 32.46% | 4.05% |
| 2022-11-30 | 104 | 50.7 | 33.1% | 5.57% |
| 2022-08-31 | 105 | 53.1 | 32.56% | 4.18% |
| 2022-05-31 | 110 | 58.8 | 29.27% | 3.71% |
| 2022-02-28 | 112 | 58.3 | 29.67% | 3.88% |
| 2021-11-30 | 113 | 58.6 | 29.28% | 4.64% |
| 2021-08-31 | 115 | 60.7 | 28.71% | 4.18% |
| 2021-05-31 | 107 | 57.1 | 29.87% | 4.42% |
| 2021-02-28 | 107 | 59.2 | 28.99% | 4.07% |
| 2020-11-30 | 103 | 57.9 | 29.81% | 3.96% |
| 2020-08-31 | 103 | 56.7 | 30.75% | 3.95% |
| 2020-05-31 | 115 | 51.5 | 34.18% | 5.96% |
| 2020-02-29 | 115 | 59.7 | 29.52% | 4.66% |
| 2019-11-30 | 116 | 60.1 | 28.95% | 3.74% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Compared with, in the essays
1Returns the fund reported
2019-09 – 2026-05Monthly total returns from Item B.5 of PPTY's own filings, 81 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference — percentage points over 0 months, which is roughly the distributions. Every month with the filing it came from: PPTY.json · all funds.
Who borrows PPTY's shares
2023-02-28The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2023-02-28, $38m was out to 12 borrowers, 31.83% of net assets. The largest, MORGAN STANLEY & CO LLC, held 53.5% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| MORGAN STANLEY & CO LLC | $20m | 53.5% |
| GOLDMAN SACHS & CO. | $10m | 25.6% |
| BMO Capital Markets | $2m | 5.2% |
| RAYMOND JAMES & ASSOCIATES, INC | $2m | 4.6% |
| BMO NESBITT BURNS, INC | $1m | 2.8% |
Cash collateral reported against the loan: 32.81% of net assets, 103.1% of the amount lent. That is a floor on the collateral, not the whole of it — collateral the fund does not hold as a position is not in this filing, so a figure under 100% is not evidence of under-collateralisation. How that figure behaves across all funds. Every quarter PPTY has filed, with each borrower: PPTY.json · all funds.
Since the previous filing
2026-02-28 → 2026-05-3189 positions became 87: 0 added (0.0% of the fund at the later date), 2 dropped (0.4% at the earlier date). Half the sum of all weight changes, a turnover proxy: 2.9%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of PPTY compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-02-28 | 2026-05-31 | Largest decreases | 2026-02-28 | 2026-05-31 |
|---|---|---|---|---|---|
| Equinix Inc | 4.62% | 4.92% | Alexandria Real Estate Equitie | 2.35% | 2.10% |
| Kilroy Realty Corp | 2.47% | 2.76% | Four Corners Property Trust In | 4.03% | 3.82% |
| Vornado Realty Trust | 1.28% | 1.52% | STAG Industrial Inc | 2.01% | 1.89% |
| Highwoods Properties Inc | 1.80% | 2.03% | Mid-America Apartment Communit | 1.80% | 1.69% |
| U.S. Bank Money Market Deposit Account | 0.06% | 0.24% | Sun Communities Inc | 0.94% | 0.83% |
| Cousins Properties Inc | 1.35% | 1.52% | Welltower Inc | 2.96% | 2.85% |
Gone: Alexander & Baldwin Inc (0.21%), Veris Residential Inc (0.16%).
Asset categories and pricing
as of 2026-05-3199.76% equity, 0.24% short-term investment as filed; 99.8% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Neighbours by effective holdings, equity funds
10Every measured equity fund lined up by how many holdings it behaves like; these sit either side of PPTY (46.7). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| QLC FlexShares US Quality Large Cap Index Fund | 178 | 45.7 | 37.73% | 2026-07-31 |
| SPHD Invesco S&P 500 High Dividend Low Volatility ETF | 53 | 45.9 | 29.18% | 2026-05-31 |
| PEY Invesco High Yield Equity Dividend AchieversTM ETF | 50 | 46 | 29.3% | 2026-07-31 |
| GSPY Gotham Enhanced 500 ETF | 502 | 46.6 | 38.16% | 2026-06-30 |
| ABFL Abacus FCF Leaders ETF | 59 | 46.6 | 30.95% | 2026-07-31 |
| PID Invesco International Dividend AchieversTM ETF | 63 | 46.8 | 31.15% | 2026-07-31 |
| EWZS iShares MSCI Brazil Small-Cap ETF | 74 | 46.9 | 33.76% | 2026-05-31 |
| FLQL Franklin U.S. Large Cap Multifactor Index ETF | 215 | 47.5 | 36.04% | 2026-06-30 |
| BBUS JPMorgan Betabuilders U.s. Equity ETF | 469 | 48.4 | 37.34% | 2026-07-31 |
| SPYX State Street(R) SPDR(R) S&P(R) 500 Fossil Fuel Reserves Free ETF | 494 | 48.4 | 37.68% | 2026-06-30 |
Measures applied in the essays
4Essays that examine PPTY
3-
VNQ vs SCHH: Two REIT Index ETFs — Holdings, Yield, and Realized Risk
VNQ and SCHH are both broad U.S. equity REIT index funds with nearly identical realized volatility (~18.8% vs ~18.7% over five years), so the decision...
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VNQ vs. PPTY: REITs Index vs. AI-Powered Real Estate Value Analysis
VNQ is the cheap, deep, market-cap-weighted way to own U.S. listed real estate; PPTY is a fundamentals-tilted alternative that markets itself as smarter...
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Data Center REITs vs. Infrastructure ETFs: Which One for Consistent Cash Flow?
The "REITs for income, ETFs for growth" framing collapses on contact with five-year data: SRVR yields 2.6% but delivered just 0.3% annualized total return...
Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.