The iShares Cohen & Steers REIT ETF (ICF) seeks to track an index of large, liquid U.S. REITs that could benefit from industry consolidation and securitization, investing at least 80% of assets in securities that closely mirror the index’s composition. Because it is classified as non-diversified, the fund’s holdings are concentrated in a relatively small number of high-quality REITs.
As of the latest quarter, ICF holds roughly $2.8 billion in assets under management, carries an expense ratio of 0.55%, and delivers a trailing 12-month dividend yield of about 5.2%. The top five holdings-American Tower, Prologis, Crown Castle, Public Storage and Equity Residential-represent roughly 45% of the portfolio. Recent sector drivers include a modest decline in the Fed’s policy rate to 4.75% and a rebound in office vacancy rates to 15.8%, which together are supporting REIT earnings growth of around 4% year-over-year.
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