IQ U.S. Real Estate Small Cap ETF
ROOF
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- IQ U.S. Real Estate Small Cap ETF (ROOF), issued by IndexIQ ETF Trust under New York Life Investments, provides investors with targeted exposure to small-cap U.S. real estate securities and equity real estate investment trusts (REITs). The ETF tracks the performance of the NYLI CBRE NextGen Real Estate Index using a full replication technique, focusing on growth and value stocks across diversified market capitalizations in the real estate sector; key holdings include Digital Realty Trust (DLR), Welltower (WELL), Equinix (EQIX), Keppel DC REIT, Prologis (PLD), SBA Communications (SBAC), American Tower (AMT), Crown Castle (CCI), Uniti Group (UNIT), and AvalonBay Communities (AVB), representing sectors such as data centers, healthcare, industrial, and communications infrastructure. It distributes quarterly dividends with a trailing twelve-month yield of approximately 2.76%, supported by a payout ratio of 74.22%, and maintains an expense ratio of 0.60% with assets under management around $36.61 million. Launched on June 14, 2011, and headquartered in New York, New York, the ETF operates primarily in U.S. public equity markets while holding international real estate exposure, including Singapore (10.12%), United Kingdom (5.18%), Japan (4.11%), and Canada (2.32%). In September 2022, ROOF underwent a significant rebranding from IQ U.S. Real Estate Small Cap ETF to NYLI CBRE NextGen Real Estate ETF, adopting the new IQ CBRE NextGen Real Estate Index developed in partnership with CBRE Investment Management and reducing its management fee from 0.69% to 0.60%; this strategic shift enhanced its focus on real estate companies poised to benefit from global property trends, such as data centers and logistics. New York Life Investments announced plans in September 2024 to liquidate ROOF as part of a routine product lineup review, with trading ceasing after market close on November 20, 2024, and proceeds distributed to shareholders on or about November 27, 2024; however, as of recent data, the ETF continues to trade with ongoing performance metrics including a one-year return of 14.61%-15.17% and YTD return of 3.80%-5.28%. The fund targets investors seeking real estate sector diversification amid broader equity portfolios, emphasizing developed market real estate equities with tiered weighting to mitigate concentration risk.[web:etfdb.com] IndexIQ, a subsidiary of New York Life Investment Management Holdings LLC, serves as the advisor, with ALPS Distributors, Inc., and NYLIFE Distributors LLC handling distribution.