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Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Real Estate 25/25 Index, which represents the performance of the real estate sector in the U.S. equity market.

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Every four years, a Summer Olympics competition is held with viewers around the world tuning in to cheer on their country's athletes in the hope to top the medal count and celebrate the pride <a href="https://www.benzinga.com/topic/olympics">of their country.</a>
While the Olympics are important to media companies, sports fans and others, here's a look at their impact on the stock market.
Stock Markets During Summer Olympics: The stock market doesn't close for the Summer Olympics, but could see volatility for several companies that could be impacted by the games including <a href="https://www.benzinga.com/general/entertainment/24/07/39733479/nba-fans-rejoice-new-76b-deal-from-espn-amazon-nbc-will-bring-games-seven-days-a-week">U.S. media rights holder</a> Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Other than stocks with direct ties to the Olympic games, the stock market sees little correlation between the games and price action. The country that wins the most countries often doesn't see a material impact from taking the top honors.
One market that is more heavily impacted is the stock market of the host country, which often sees a spike when the country is selected as the host and shortly before the games before cooling off during the games and directly after.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index was up 1.0% and 1.1%, respectively, during the duration of the 2016 Summer Olympics (Aug. 5, 2016-Aug. 21, 2016) in Rio de Janeiro, Brazil, and the 2020 Summer Olympics (July 23, 2021-Aug. 8, 2021) in Tokyo. Japan.
While the past two Summer Olympics produced minimal returns for the S&amp;P 500, the SPY was up 2.9% and 2.4% respectively during the duration of the 2012 Summer Olympics in London, England, and the 2008 Summer Olympics in Beijing, China.
For comparison, a look at the country-specific ETFs of the Olympics host nation turned in lower returns than the S&amp;P 500.
In 2020, the iShares MSCI Japan Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) was flat during the Summer Olympics, going from $67.78 to $67.82, or a total gain of 4 cents.
The iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) was up 1.0% during the 2016 Summer Olympics.
The 2008 Summer Olympics may stand out as an example of volatility with the games. While the U.S. won the most medals overall (112 to China's 100), China took home the most gold medals (48 to USA's 36). This is the last time the U.S. didn't finish first in the gold medal race.
The iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) was actually down 2.1% during the 2008 Summer Olympics, compared to the 2.4% gain for the SPY mentioned above.
A Bespoke Investment study <a href="https://www.businessinsider.com/stock-market-performance-during-the-olympics-2016-8">shared </a>by Business Insider in 2016 found that the S&amp;P 500 averaged a +1.75% gain during the duration of each Summer Olympics from 1928 to 2012. The study also found that the benchmark indices of host countries had a similar gain of +1.74% during each Summer Olympics.
One result also stands out in the study with the S&amp;P 500 up 9.41% during the 1984 Summer Olympics, hosted in Los Angeles, California.
The Summer Olympics return to Los Angeles in 2028, the first time the U.S. has hosted since the 1996 games in Atlanta, Georgia.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/07/39940590/scottie-scheffler-gold-medalist-golfer-looks-to-turn-2024-pga-tour-success-into-a-2024-oly">Scottie Scheffler, Gold Medalist? Golfer Looks To Turn 2024 PGA Tour Success Into A 2024 Olympic Medal</a>
U.S. Medal Dominance: The U.S. has dominated the medal counts in the Summer Olympics, ranking with more than 1,000 medals ahead of the next closest country.
The U.S. has 2,975 total Olympic medals according to the Olympic Foundation and a CBS News <a href="https://www.cbsnews.com/news/2024-paris-games-most-olympic-medals-ever/">report</a>. Ranking behind the U.S. are the Soviet Union with 1,204 medals and Germany with 1,058 medals.
For gold medals, the U.S. ranks first with 1,179, followed by the Soviet Union with 473 and Germany with 342.
In the <a href="https://olympics.com/en/olympic-games/rio-2016/medals">2016 </a>Summer Olympics, the U.S. had 121 total medals, ranking ahead of China (70) and Great Britain (67). The U.S. had 46 gold medals in 2016 topping Great Britain (27) and China (26).
At the <a href="https://olympics.com/en/olympic-games/tokyo-2020/medals">2020 </a>Summer Olympics, the U.S. had 113 total medals, topping China (89) and the Russian Olympic Committee (71). USA led the way with 39 gold medals in 2020 topping China (38) and Japan (27).
The U.S. is once again favored to win the most medals and gold medals. Odds from DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) give U.S. odds of -2500 to win the most medals, followed by China at +900 and Japan and Great Britain tied with odds of +5,000.
The odds for most gold medals are slightly closer with U.S. favored at -750, ranking ahead of China (+350) and France (+6,500).
The 2024 Summer Olympics in Paris are July 26 through August 11.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports/24/04/38206683/going-for-the-gold-and-50k-cash-2024-summer-olympic-winners-in-one-sport-will-be-financially-rewar">Going For The Gold And $50K Cash: 2024 Summer Olympic Winners In One Sport Will Be Financially Rewarded</a></li>
</ul>
Photo: Qubix Studio via Shutterstock

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CMCSA

DKNG

Do Summer Olympics (And Gold Medals) Matter To The Stock Market? The Results May Surprise You

Orchid Island Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORC#NYSE">ORC</a>) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $(0.07) by 28.57 percent. The company reported quarterly sales of $(697.000 thousand) which beat the analyst consensus estimate of $(2.945 million) by 76.33 percent. This is a 92.04 percent increase over sales of $(8.760 million) the same period last year.

Earnings

Earnings Beats

Earnings Misses

Orchid Island Cap Q2 2024 Adj EPS $(0.09) Misses $(0.07) Estimate, Sales $(697.000K) Beat $(2.945M) Estimate

Tigress Financial analyst Ivan Feinseth maintains Snap-on (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNA#NYSE">SNA</a>) with a Buy and maintains $336 price target.

Price Target

Analyst Ratings

Tigress Financial Maintains Buy on Snap-on, Maintains $336 Price Target

For full year 2024, management anticipates&nbsp;Adjusted EBITDA to be in the range of&nbsp;$1.10 billion&nbsp;to&nbsp;$1.18 billion (prior view $1.10 billion&nbsp;to&nbsp;$1.25 billion).

Guidance

NOV Revises FY24 Consolidated Company Revenue Growth Forecast To Low- To Mid-Single Digit Percent Range (Prior View Mid-Single Percentage Range)

BWS Financial analyst Hamed Khorsand maintains Garrett Motion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTX#NASDAQ">GTX</a>) with a Buy and lowers the price target from $15 to $12.

BWS Financial Maintains Buy on Garrett Motion, Lowers Price Target to $12

Ubisoft Entertainment SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UBSFF#OTC">UBSFF</a>) is facing a significant setback with the recent leak of over 13 minutes of gameplay footage from its highly anticipated game, <a href="https://www.benzinga.com/general/gaming">Star Wars Outlaws. </a>
The leaked footage, which appears to showcase the opening scenes of Massive Entertainment's latest adventure, was briefly available on YouTube before being swiftly removed due to a copyright claim by Ubisoft, thereby confirming its authenticity.
See Also: <a href="https://www.benzinga.com/general/gaming/24/04/38169087/ubisoft-accidentally-leaks-star-wars-outlaws-release-date-special-editions-and-more">Ubisoft Accidentally Leaks Star Wars Outlaws Release Date, Special Editions And More</a>
Despite Ubisoft&#8217;s efforts, the footage has spread across various platforms, exposing key plot elements and gameplay mechanics. Fans who view the footage will encounter major spoilers for the protagonist Kay Vess' storyline, IGN <a href="https://www.ign.com/articles/ubisoft-battles-fresh-star-wars-outlaws-gameplay-leaks">reported.</a>
<h1 class="wp-block-heading">SPOILER ALERT: Star Wars Outlaws Leaked Gameplay Details</h1>
The leaked video begins with Kay recovering from a crash landing on a moon, immediately facing an attack from local bandits. To repair her damaged spaceship, Kay is directed to seek employment from a local crime boss, navigating through third-person shooter combat and open-world exploration. 
The town, bustling with Stormtroopers conducting ID checks, adds to the immersive experience.
Further leaked clips on social media reveal Kay engaging in Sabacc, the iconic Star Wars card game, and participating in space combat. 
<h1 class="wp-block-heading">Release Details and Editions</h1>
The game was officially revealed at the 2023 Xbox Games Showcase, when Ubisoft began carefully managing the release of gameplay footage.
Star Wars Outlaws, set between the events of &#8220;Star Wars: Episode V &#8211; The Empire Strikes Back&#8221; and &#8220;Episode VI &#8211; Return of the Jedi,&#8221; introduces players to Kay Vess, her droid ND-5 and her companion Nix as they navigate the galaxy's criminal underworld.
The game is scheduled for release on Aug. 27, 2024, for PlayStation 5, Xbox Series X and S, and PC. The Standard Edition is priced at $70, while the $110 Gold Edition offers three days of early access and a Season Pass.
Additionally, an Ultimate Edition is available digitally, including early access, the Season Pass and exclusive cosmetic items like the Rogue Infiltrator Bundle and the Sabacc Shark bundle, alongside a digital art book.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/03/37460282/star-wars-strategy-game-unaffected-by-electronic-arts-layoffs-continues-development">Star Wars Strategy Game Unaffected By Electronic Arts Layoffs, Continues Development</a></li>
</ul>
Photo Courtesy: Ubisoft.

Gaming

General

UBSFF

Star Wars Outlaws Gameplay — Over 13 Minutes — Leaks Online

Canfor Pulp Products (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CFX#TSX">CFX</a>) reported quarterly losses of $(0.10) per share which beat the analyst consensus estimate of $(0.12) by 16.67 percent. This is a 77.27 percent increase over losses of $(0.44) per share from the same period last year. The company reported quarterly sales of $220.00 million which beat the analyst consensus estimate of $213.93 million by 2.84 percent. This is a 11.82 percent decrease over sales of $249.50 million the same period last year.

TSX:CFX

Canfor Pulp Products Q2 EPS CAD(0.10) Beats CAD(0.12) Estimate, Sales CAD220.00M Beat CAD213.93M Estimate

For the&nbsp;third quarter&nbsp;management expects Adjusted EBITDA to be between&nbsp;$270 million&nbsp;and&nbsp;$305 million.&nbsp;

NOV Expects Q3 Consolidated Revenues To Be Flat To Up In The Low- Single Digit Percent Range

NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.35 by 62.86 percent. This is a 46.15 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $2.216 billion which beat the analyst consensus estimate of $2.193 billion by 1.05 percent. This is a 5.88 percent increase over sales of $2.093 billion the same period last year.

NOV Q2 2024 GAAP EPS $0.57 Beats $0.35 Estimate, Sales $2.216B Beat $2.193B Estimate

CTO Realty Growth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTO#NYSE">CTO</a>) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.39 by 23.08 percent. The company reported quarterly sales of $28.845 million which beat the analyst consensus estimate of $27.411 million by 5.23 percent. This is a 10.74 percent increase over sales of $26.047 million the same period last year.

CTO Realty Growth Q2 2024 FFO $0.48 Beats $0.39 Estimate, Sales $28.845M Beat $27.411M Estimate

Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) reported quarterly earnings of $0.10 per share which missed the analyst consensus estimate of $0.35 by 71.43 percent. The company reported quarterly sales of $141.506 million which beat the analyst consensus estimate of $118.545 million by 19.37 percent. This is a 19.42 percent increase over sales of $118.490 million the same period last year.

Provident Finl Servs Q2 2024 Adj EPS $0.10 Misses $0.35 Estimate, Sales $141.506M Beat $118.545M Estimate

BCAB

BioAtla Provides Clinical Program And Pipeline Updates At R&D Day

The Company estimates that the strategic investment cooperation with Sports Cover will result in considerable revenue contributions over the next several years. Zhibao forecasts that the revenue increase for 2024 will be approximately CNY 20M; 2025 about CNY 50M; and an estimate of CNY 80M in 2026.
Zhibao expects to successfully penetrate the sports-related insurance sector and expand its market presence over the next few years. By 2024, the Company expects to have approximately&nbsp;10%&nbsp;of the market, followed by a greater than&nbsp;15%&nbsp;share in 2025, and over&nbsp;20%&nbsp;by 2026.

ZBAO

Zhibao Inks Strategic Investment Cooperation With Sport Covers To Jointly Create New Business Model Of Digital Sports And Insurance Brokerage; Foresees Considerable Revenue Contributions

First Savings Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSFG#NASDAQ">FSFG</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.47 by 10.64 percent. This is a 52.94 percent increase over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $14.534 million which missed the analyst consensus estimate of $14.597 million by 0.43 percent. This is a 2.23 percent decrease over sales of $14.865 million the same period last year.

FSFG

First Savings Financial Q3 2024 Adj EPS $0.52 Beats $0.47 Estimate, Sales $14.534M Miss $14.597M Estimate

The facility spans 94,000 square feet and is situated on a five-acre site. Upon final interior completion of construction and outfitting, it will significantly increase Terran Orbital&#39;s space vehicle assembly, integration, and testing capabilities by over three times the Company&#39;s current capacity.

LLAP

Terran Orbital Receives Certificate Of Occupancy For Its Previously Announced New Assembly Facility, Located At 4 Goodyear In Irvine, California

HubSpot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) has outperformed the market over the past 5 years by 10.0% on an annualized basis producing an average annual return of 22.36%. Currently, HubSpot has a market capitalization of $25.48 billion. 
Buying $100 In HUBS: If an investor had bought $100 of HUBS stock 5 years ago, it would be worth $272.89 today based on a price of $499.98 for HUBS at the time of writing.
<h3>HubSpot's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721943053_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

HUBS

$100 Invested In HubSpot 5 Years Ago Would Be Worth This Much Today

General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) has outperformed the market over the past 20 years by 1.03% on an annualized basis producing an average annual return of 9.28%. Currently, General Dynamics has a market capitalization of $79.69 billion. 
Buying $1000 In GD: If an investor had bought $1000 of GD stock 20 years ago, it would be worth $5,817.85 today based on a price of $290.00 for GD at the time of writing.
<h3>General Dynamics's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721943049_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth $5,800 Today

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported quarterly earnings of $1.49 per share which beat the analyst consensus estimate of $1.22 by 22.13 percent. This is a 14.62 percent increase over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $97.415 million which beat the analyst consensus estimate of $94.845 million by 2.71 percent. This is a 6.51 percent increase over sales of $91.464 million the same period last year.

SRCE

1st Source Q2 2024 GAAP EPS $1.49 Beats $1.22 Estimate, Sales $97.415M Beat $94.845M Estimate

Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) reported quarterly earnings of $0.10 per share which missed the analyst consensus estimate of $0.12 by 16.67 percent. This is a 62.96 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $828.26 million which beat the analyst consensus estimate of $751.50 million by 10.21 percent. This is a 85.82 percent increase over sales of $445.73 million the same period last year.

Baytex Energy Q2 EPS $0.10 Misses $0.12 Estimate, Sales $828.26M Beat $751.50M Estimate

Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares are trading higher in Thursday&#8217;s after-hours session on what appears to be continued momentum from the regular session. Here&#8217;s <a href="https://www.benzinga.com/news/24/07/39860370/serve-robotics-stock-rises-after-nvidia-discloses-10-stake">what you need to know</a>.
What To Know: Serve Robotics shares have been seeing increased attention since NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/24/07/39860370/serve-robotics-stock-rises-after-nvidia-discloses-10-stake">reported a 10% stake</a> in the robotics company near the end of last week. The stock is up more than 500% since the Nvidia filing.
Serve Robotics went public via reverse merger with Patricia Acquisition Corp. According to&nbsp;<a href="https://techcrunch.com/2023/08/10/uber-nvidia-backed-delivery-robot-startup-serve-robotics-to-go-public/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAGtcb64bIwGTyTkg369BaKjiIth_ncMWIuozwSS-NvlOkMJFOCGJWC8RdBpn8DuR7oeAY4tKMRUsT3QyuPztSCkfrNvplbEa-7wDNdxMtCzoW9nAEkjvKtP1RJ4YNoYlxYihRUCRPG3kBNYccP-vCqpxbhjkP-DlYPFCYt-7HwAC" target="_blank" rel="noreferrer noopener">TechCrunch</a>, Serve Robotics was initially started as the robotics division of Postmates. The autonomous sidewalk robots started delivering to Postmates customers in 2018, but when Uber acquired Postmates in 2020, the robotics division was spun out as Serve Robotics.
On Thursday morning, Serve Robotics <a href="https://www.benzinga.com/pressreleases/24/07/n39957697/serve-robotics-appoints-david-goldberg-to-board-of-directors-and-extends-term-for-sarfraz-maredia">announced</a> the appointment of David Goldberg to its board of directors and the reappointment of Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) executive Sarfraz Maredia.
&#8220;We are thrilled to welcome David to the board and extend Sarfraz&#8217;s term. Their strategic insights, energy and perspectives will be invaluable as we focus on growth and on driving Serve Robotics forward,&#8221; said Ali Kashani, chairman of Serve Robotics&#8217; board.
The recent trading activity appears to be largely retail-driven. The stock has seen increased chatter across social media platforms over the last week as traders highlight Nvidia&#8217;s stake in the company. The same thing happened in February when Nvidia <a href="https://www.sec.gov/Archives/edgar/data/1045810/000104581024000021/xslForm13F_X02/information_table.xml" target="_blank" rel="noreferrer noopener">disclosed stakes</a> in Arm Holdings, Recursion Pharmaceuticals, SoundHound AI, TuSimple Holdings and Nano-X Imaging.
SERV Price Action: Serve Robotics shares closed Thursday up 41.7%. The stock was up another 8.74% after hours, trading at $13.19 at the time of publication, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39971766/coursera-shares-climb-following-better-than-expected-q2-results">Coursera Shares Climb Following Better-Than-Expected Q2 Results</a></li>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39971462/dexcom-stock-drops-after-mixed-q2-results-weak-forward-guidance">DexCom Stock Drops After Mixed Q2 Results, Weak Forward Guidance</a></li>
</ul>
Photo: Courtesy of Serve Robotics.

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SERV

UBER

Serve Robotics Stock Continues To Soar: What's Going On?

Real estate stocks gain as traders look for alternatives to tech stocks

Certainly Uncertain

Earnings Preview: A REIT Revival?

The State Of REITs: July 2024

6 REITs reportedly raise dividend in June, Innovative Industrial Properties logs largest increase

Equity REITs to see decline in Q2 AFFO per share - report

Equity REITs to see a decline in Q2 AFFO per share - report

Existing Home Sales Fall Further As Median Price Reaches Record High

Housing Market Crash Is On The Horizon

New Home Sales Unexpectedly Fall To 7-Month Low

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When it comes to real estate stocks and the corresponding exchange-traded funds, income investors primarily focus on the yields being lobbed off by these securities and what the Federal Reserve is up to. Why? Because real estate equities are believed to be negatively correlated to rising interest rates.
Investors should also remember that in September, real estate becomes the eleventh member of the Global Industry Classification Standard (GICS) group. Real estate stocks and real estate investment trusts (REITs) are currently part of the financial services sector. Based on current dividend yield data, only the telecom and utilities sectors<a href="http://www.benzinga.com/trading-ideas/long-ideas/16/03/7665207/reit-etfs-ready-for-sector-status"> would sport higher yields</a> than real estate if real estate was its own sector right now.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/05/7927855/ladenburg-downgrades-armour-residential-reit-to-neutral">Ladenburg Downgrades Armour Residential REIT To Neutral</a></bzrelatedlink>
With Treasury yields slumping this year and new conventional wisdom dictating that the Fed will not raise interest rates any more than twice this year, investors have been pouring into some REIT ETFs. For example, the Vanguard REIT Index Fund (NYSE: <a class="ticker" href="/stock/vnq#NYSE">VNQ</a>), the largest real estate ETF, has added $1.83 billion in new assets this year, while the Schwab U.S. REIT ETF (Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schh#NYSE">SCHH</a>)) has seen inflows of nearly $92 million.
<h3>Looking Toward VNQ And SCHH</h3>
&ldquo;Funds from operations (FFO) growth in 2015 were strong for many REIT sub-industries, with 18 percent for residential REITS and 15 percent for office REITs. While Ken Leon, a REIT equity analyst for S&amp;P Global Market Intelligence&#39;s Equity Research Services expects mid-to-upper single-digit FFO growth in 2016, he notes that there is ample capacity for dividend growth for many companies. Indeed some of these companies already raised their dividends in 2016,&rdquo; said S&amp;P Capital IQ <a href="http://trymsatoday.com/">in a note out</a> Tuesday.
FFO is a key metric used by REIT analysts and investors to assess a company&#39;s ability to sustain and grown its distribution. REIT ETFs such as VNQ and SCHH, two of the lowest fee products in the category, faced a trying environment in 2015, as investors anticipated the Federal Reserve&#39;s first interest rate increase in nearly a decade, but that did not prevent many investors from searching for yield with REIT ETFs.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/05/7921155/jpmorgan-steps-to-the-sidelines-on-sba-communications">JPMorgan Steps To The Sidelines On SBA Communications</a></bzrelatedlink>
VNQ and SCHH yield 4.2 percent and nearly 2.4 percent, respectively, on a trailing 12-month basis. Another low-fee option in the space is the Fidelity MSCI Real Estate Index ETF (NYSE: <a class="ticker" href="/stock/frel#NYSE">FREL</a>), which has a trailing 12-month yield of 3.7 percent. 
<h3>Focus On FREL</h3>
&ldquo;FREL launched in 2015 and has a 0.12 percent expense ratio. The ETF has 203 holdings, more than VNQ&rsquo;s 153. FREL&rsquo;s exposure to specialized REITs (25 percent vs. 16 percent) is higher than VNQ&rsquo;s, while its retail REIT exposure (20 percent vs. 25 percent) is lower. Both ETFs rank favorably to S&amp;P Global Market Intelligence for the qualitative risk of its holdings,&rdquo; said S&amp;P Capital IQ.
Of the three ETFs highlighted here, VNQ is the top performer this year with a 4.3 percent gain.

The world of sector exchange traded funds is largely dominated by State Street Global Advisors (SSgA) and Vanguard, but other players have decent footprints in the space. That includes mutual fund Fidelity.

	Massachusetts-based Fidelity joined the sector ETF fray 2 1/2 years ago&nbsp; with 10 funds, which at the time were the least expensive sector ETFs on the market. Fidelity has since added an 11th sector fund, the Fidelity MSCI Real Estate ETF (NYSE: <a class="ticker" href="/stock/frel#NYSE">FREL</a>) while Vanguard has since reclaimed the title of issuer of the <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/12/6068969/vanguard-is-at-it-again-lowers-fees-on-21-etfs">least expensive sector ETFs</a>.

	Fidelity&#39;s ascent in the crowded sector ETF arena is notable, particularly when considering the issuer&#39;s late entry.
<h3>
	Crashing The Party</h3>

	&quot;Fidelity crashed the sector ETF party two-and-a-half years ago with the rollout of its passively MSCI-based index lineup tied to the 10 GICS sectors. More than a year later they added a REIT product in advance of the pending addition of a new sector in mid-2016. Combined these 11 products have approximately $2.4 billion in assets and in many cases the ETFs rank favorably due in part to their appealing holdings and modest 0.12% expense ratios,&quot; said S&amp;P Capital IQ <a href="http://trymsatoday.com/">in a recent note</a>.

	With nearly $574 million in assets under management, the Fidelity MSCI Health Care Index ETF (NYSE: <a class="ticker" href="/stock/fhlc#NYSE">FHLC</a>) is the firm&#39;s largest sector fund. FHLC holds such venerable healthcare names as Dow components Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>) and Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>).

	Related Link:<a href="http://www.benzinga.com/trading-ideas/long-ideas/16/03/7151110/look-whos-coming-to-dinner-the-restaurant-etf"> Look Who&#39;s Coming To Dinner: The Restaurant ETF</a>

	Although it is one of Fidelity&#39;s smaller sector ETFs with just over $135 million in assets, the Fidelity MSCI Telecommunication Services Index ETF (NYSE: <a class="ticker" href="/stock/fcom#NYSE">FCOM</a>) is the best performer from the firm&#39;s sector suite with a year-to-date gain of 9.1 percent. FCOM, which hit an all-time last Friday, allocates a <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/03/6758675/dial-up-this-telecom-etf">massive percentage of its weight</a> to Verizon Communications Inc. (NYSE: <a class="ticker" href="/stock/vz#NYSE">VZ</a>) and AT&amp;T Inc. (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>).

	With $294.4 million in assets, the Fidelity MSCI Energy Index ETF (NYSE: <a class="ticker" href="/stock/feny#NYSE">FENY</a>) is the firm&#39;s third-largest sector ETF.

	&quot;The energy sector has been a drag on S&amp;P 500 earnings in 2015 and it losses should persist until the fourth quarter of 2016 according to Capital IQ consensus forecasts. However, the downstream operations of integrated oil &amp; gas companies (44% of FENY&#39;s assets) are profitable according to S&amp;P Global Market Intelligence equity analyst Stewart Glickman. Further, he sees the relatively low-leverage balance sheets of CVX, SLB and XOM as providing financial flexibility. Bentek Energy, which like S&amp;P Global Market Intelligence is part of McGraw-Hill Financial, forecasts an average of $36 per barrel for WTI crude oil, up from current $33,&quot; said S&amp;P Capital IQ.

	Disclosure: The author owns shares of JNJ.

After adding $19 billion last month, exchange-traded products trading in the United States, including ETFs and exchange-traded notes (ETNs) have hauled in $145 billion in new assets through the first nine months of this year &ndash; a record for that time frame, according to <a href="http://etfgi.com/news/detail/newsid/686">ETFGI</a>, a London-based ETF research firm.
That suggest while the U.S. ETF industry remains dominated by the &ldquo;big three&rdquo; &ndash; iShares, Vanguard and State Street &ndash; there is still room for able competitors. That secondary group includes brokerage giants Charles Schwab Corp (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) and privately held Fidelity. California-based Schwab and Boston-based Fidelity, though both late entrants to the ETF business, are now the seventh- and 22nd-largest U.S. ETF issuers, respectively. 
&ldquo;While Schwab&#39;s decision six years ago to add a broad array of low-cost ETFs has helped make it the seventh largest ETF provider at the end of September with $34 billion in assets according to etf.com, just ahead of Guggenheim, discount brokerage peer Fidelity was just outside the top-20 with $2.8 billion in assets,&rdquo; said <a href="http://trymsatoday.com/">S&amp;P Capital IQ</a> in a new research note.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5942807/problem-children-arent-derailing-consumer-staples-etfs">"Problem Children" Aren't Derailing Consumer Staples ETFs</a></bzrelatedlink>
<h3>Players In The Sector: Fidelity</h3>
Until late 2013, the Fidelity NASDAQ Comp. Index Trk Stk(ETF) (NASDAQ: <a class="ticker" href="/stock/oneq#NASDAQ">ONEQ</a>), a NASDAQ Composite tracking ETF, was Fidelity&#39;s lone ETF.
That year, the mutual fund giant launched a lineup of 10 sector funds, including the Fidelity MSCI Health Care Index ETF (NYSE: <a class="ticker" href="/stock/fhlc#NYSE">FHLC</a>) and the Fidelity MSCI Information Technology Index ETF (NYSE: <a class="ticker" href="/stock/ftec#NYSE">FTEC</a>).
 The firm followed those launches up with the debuts of several actively managed bond funds and earlier this year, the Fidelity MSCI Real Estate Index ETF (NYSE: <a class="ticker" href="/stock/frel#NYSE">FREL</a>) debuted.
FHLC is the largest Fidelity ETF.
<h3>Players In The Sector: Schwab</h3>
At the end of the third quarter, ETF assets custodied at Schwab climbed 10 percent on a year-over-year basis to $237 billion, according to Schwab Third-Quarter Snapshot. Bond funds have been <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5905516/forget-the-fed-investors-are-loving-bond-etfs">prolific asset gatherers</a> this year, with fixed income ETFs listed around the world now home to a combined $500 billion in assets under management.
Schwab is getting a piece of that action, as more than half of the company&#39;s third-quarter ETF inflows went into bond funds, with a third going into U.S. equity products, according to Schwab data.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/10/5922372/counting-on-quality-with-etfs">Counting On Quality With ETFs</a></bzrelatedlink>
<h3>Now And Looking Forward</h3>
&ldquo;Fidelity has more than $162 billion in ETF assets under administration and provides its brokerage customers access to many ETFs, including 70 iShares, that they can buy commission-free online,&rdquo; according to S&amp;P Capital IQ.
With new additions to the <a href="http:// http://www.benzinga.com/news/15/10/5926084/charles-schwab-continues-etf-ascent">Schwab ETF OneSource</a> commission-free ETF platform, &ldquo;investors can now buy and sell 214 ETFs covering 66 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees &ndash; key differentiators for investors comparing Schwab ETF OneSource to other commission-free ETF offerings,&rdquo; said Schwab in a statement.
Image Credit: <a href="https://pixabay.com/en/wall-street-street-sign-roadworks-264381/">Public Domain</a>

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