summation
- We compared and analyzed basic information, performance, and owned items required for investment in domestic listed REITs.
- When investing in REITs, investing in REITs ETF is more stable than investing in individual stocks.
- When comparing performance, fees, transaction volume, etc., TIGER REITs Real Estate Infrastructure appears to be the best choice.
outline
When investing in REITs, you might think of Overseas REIT ETFs or Realty Income. Unlike before, more than 20 REITs have already been listed in Korea. However, their market capitalization is still in the hundreds to hundreds of billions. Even small buildings easily exceed 10 billion won in central Seoul. Considering today's market price, it seems difficult to take advantage of REIT investment expected from an evenly distributed real estate portfolio. Therefore, if you are considering investing in REITs to invest in real estate in Korea, I think an ETF approach is a better choice than individual REIT stocks.
For this reason, in this article, we would like to compare 4 types of REIT ETFs listed in Korea. Rather than personal opinions, we will focus on comparing items that can be compared as quantitatively as possible.
comparison
Comparison conditions
- There are four REIT ETFs subject to comparison: ARIRANG K REITs Fn, TIGER REITs Real Estate Infrastructure, Heroes REITs Aegis Active, and Samsung KRX REITs TOP October Dividend.
- TIGER REITs real estate infrastructure bonds are products that include medium-term bonds, and the composition of REITs is the same as TIGER REITs real estate infrastructure, so it was excluded from comparison.
- Performance indicators such as Sharp Ratio were calculated through Pandas_ta based on daily data for the past year obtained with Finance datareader.
Key points and indicators
Stock TIGER REITs Real Estate Infrastructure Samsung KRX REITs TOP 10 Monthly Dividend Heroes REITs Aegis Active ARIRANG K REITs FnManagerMirae Asset Asset ManagementSamsung Securities Co., Ltd.Kiwoom Investment Asset ManagementHanwha Asset ManagementListing Date2019.07.192022.07.222022.05 .242022.05.24Stock classificationETFETNETFETFStock number329200530103429870429740Market cap3,137 7.9 billion 4.5 billion 38 billion 100 million Remuneration rate0.29%0.40%0.52%0.25%Dividend rate8.15%5.79%5.86%6.57%Dividend cycleMonthly dividendMonthly dividendQuarterly dividendQuarterly dividendSharpratio-0.842-1.499-0.878-1.004Sortino ratio-0.96-1.6-1.03-1.114Beta0.410.440.380.38CAGR-10.58%-19.96%-11.76%-12.59%MDD-18.80%-22.22%-18.90%-19.30%(DB Source: Naver Securities, ETF check, Finance Data Reader)
Holdings by ETF
Stock TIGER REITs Real Estate Infrastructure Samsung KRX REITs TOP 10 Monthly Dividend ETN Heroes REITs Aegis ActiveARIRANG K REITsFnSK REITs13.96%15.00%4.37%17.90%ESR Kendall Square REITs9.80%14.00%16.58%13.95%JR Global REITs9.74%17.00%12.41%13.92%Lotter REITs9.80%9.00 %6.39%11.38%Shinhan Alpha REITs6.58%12.00%11.40%11.16%KORAMCO Life Infrastructure REITs5.96 %10.00%11.80%10.91%Hanwha REITs4.43%4.00%2.04%3.39%Samsung FN REITs4.72%5. 00%3.88%3.29%D&D Platform REITs2.50%4.86%3.49%Shinhan Seobu T&D REITs2.22%4.47% 2.57%EREITs KOCREF3.86%3.00%6.59%KB Star REITs4.33%7.00%2.36%KORAM CORDER ONE REITs 2.03%4.03%NH All One REIT5.72%3.65%Macquarie Infrastructure16.43%Maps Realty4.48%Mastern Premier REIT0.37%Mirae Asset Global REIT0.56%KRW Cash1.73%4%4.79%1.05%(DB Source: Naver Securities, ETF check, Finance Data Reader)
characteristic
- Since the pool of REIT stocks is not large, many stocks overlap. The difference in port configuration is not significant.
→ Considering the composition of the items, the difference does not seem to be as large as what was investigated, and the difference seems to have occurred due to the payment method and whether or not it was disclosed.
- Except for TIGER REITs Real Estate Infrastructure, it was difficult to clearly confirm dividend payment details.
- TIGER REITs Real Estate Infrastructure includes Macquarie Infrastructure. It is said that it was included because the composition of REIT products was small at the time of listing of the ETF.
→ Judging by the fact that the decimal point falls too cleanly, this is the initial weight at the time of ETF establishment, and the difference from the current weight is expected to be large.
- In the case of Samsung KRX REITs TOP October Dividend, the difference in performance is large even though the difference in the disclosed portfolio is not large.
- In the case of Samsung KRX REITs TOP October Dividend, the amount of cash held was not disclosed. However, since the proportion of the 10 disclosed stocks was 96%, the difference, or 4%, was estimated as cash reserves.
conclusion
- TIGER REITs Real Estate Infrastructure appears to be the best, as it has the best performance, large market capitalization, and low commissions.
- However, it is judged that the performance difference in the future will not be large, so if you want pure REITs that do not include infrastructure stocks, or if you want to reduce the 0.04% fee difference, ARIRANG K REITs Fn is also a good choice.
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