Investing involves risks. Principal loss is possible. The Fund is not actively managed. The Fund’s investments will be concentrated in housing and real estate-related industries. Investments in real estate companies and the construction and housing industry involve unique risks. Real estate companies, including REITs, may have limited financial resources, may trade less frequently and in limited volume, and may be more volatile than other securities. Many factors may affect real estate values, including the availability of mortgages and changes in interest rates. Real estate companies are also subject to heavy cash flow dependency, defaults by borrowers, and self-liquidation. The construction and housing industry can be significantly affected by the real estate markets. Compared to large cap companies, small and mid-capitalizations companies may be less stable and their securities may be more volatile and less liquid. As with all ETFs, Shares may be bought and sold in the secondary market at market prices and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Although it is expected that the market price of Shares will approximate the Fund’s NAV, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount) due to supply and demand of Shares or during periods of market volatility.
1) US Bureau of Economic Analysis. Gross Domestic Product, 3rd Quarter 2019. (Release Date: October 30, 2019) Real Gross Domestic Product (Real GDP) is the total value of goods produced and services provided in a country during one year, adjusted for inflation.
2) US Census Bureau. Monthly New Residential Sales, October 2019 (Release Date: November 26, 2019) New Home Sales is an economic indicator which records sales of newly constructed residences in the United States of America.
3) US Census Bureau. Monthly New Residential Construction, October 2019. (Release Date: November 19, 2019) Housing starts is an economic indicator that reflects the number of privately owned new housing units on which construction has been started in a given period. Building permits represent the number of new privately-owned housing units authorized by building permits in the United States.
4) Mortgage Bankers Association. Builder's Application Survey, October 2019. (Release Date: November 19, 2019). The Builder Application Survey provides timely and detailed monthly metrics on loan application activity received directly from home builders for new single-family properties. This data provides a gauge of new home sales activity in the United States.
5) US Census Bureau. Quarterly Residential Vacancies And Homeownership, Third Quarter 2019. (Release Date: October 29, 2019). The Housing Vacancies and Homeownership Survey provides current information on the rental and homeowner vacancy rates, and characteristics of units available for occupancy.
6) Bureau of Labor Statistics. Consumer Expenditure Survey, 2018. (Release Date: September 10, 2019). Spending on housing is measured as a percent of average annual expenditures of all consumer units.
7) US Census Bureau. "Millennials Outnumber Baby Boomers and Are Far More Diverse, Census Bureau Reports." (Release Date: June 25, 2015)
8) The State of the Nation's Housing." Joint Center for Housing Studies of Harvard University. 2019.
9) Bureau of Labor Statistics. Consumer Expenditure Survey, 2018. (Release Date: September 10, 2019). Spending on housing is measured as a percent of average annual expenditures of all consumer units.
10) S&P Dow Jones Indices. S&P 500 Index Fact Sheet. November 2019. The S&P 500 is a stock market index that tracks the stocks of 500 large-cap U.S. companies. It represents the stock market's performance by reporting the risks and returns of the biggest companies.
The Hoya Capital Housing ETF seeks to track the performance, before fees and expenses, of the Hoya Capital Housing 100 Index. The Index is a rules-based index designed to track the 100 companies that collectively represent the performance of the US Housing Industry, divided into four residential real estate-related business segments: 1) Home Ownership and Rental Operations; 2) Home Building and Construction; 3) Home Improvement and Furnishings; 4) Home Financing, Technology & Services. Designed to track total annual spending on housing and housing-related services at the national level, each of the four segments is weighted based on its relative contribution to GDP.
Hoya Capital Real Estate is the advisor to HOMZ and is distributed by Quasar Distributors, LLC.