PDF Dow Jones Real Estate Indices S&P Global Property Indices

Dow Jones Real Estate Indices S&P Global Property Indices

SCORECARD

Q1 2019

Contents

Dow Jones U.S. Real Estate Indices

3

Dow Jones Global Real Estate Indices

4

S&P Global Property & REIT

5

S&P Developed Property & REIT

6

S&P Emerging Property & REIT

7

Performance by Country

8-9

Exchange-Traded Products

10

Index Descriptions

11

Performance Disclosure

12

General Disclaimer

13

Contact Us:

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S&P Dow Jones Indices

2nd Quarter 2012

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Scorecard | Real Estate

2

Dow Jones U.S. Real Estate Indices

INDEX PERFORMANCE

Cumulative Total Returns Annualized Total Returns STANDARD DEVIATION SECTOR RETURNS

Index Name Dow Jones U.S. Real Estate TSM Dow Jones U.S. Real Estate Dow Jones U.S. Select RESI Dow Jones Composite All REIT Index Dow Jones Equity All REIT Index Dow Jones U.S. Mortgage REITs Index Dow Jones U.S. Select REIT Dow Jones U.S. Select Equal Weight REIT Dow Jones Townsend Core U.S. REIT Dow Jones U.S. Select Short-Term REIT

QTD 17.0% 17.1% 15.7% 16.7% 17.2%

9.4% 15.7% 15.8% 14.9% 15.4%

1-Year 18.7% 19.4% 19.7% 19.9% 20.4% 10.2% 19.7% 19.4% 20.8% 19.5%

3-Year 8.1% 8.1% 5.3% 8.2% 7.8%

15.0% 5.3% 5.8% 4.9% 8.2%

5-Year 9.5% 9.7% 8.9% 9.8%

10.0% 9.8% 8.9% 9.3% 9.4%

12.0%

10-Year 18.0% 18.1% 18.5% 18.0% 18.7% 11.8% 18.5% 18.3% 18.8% 22.2%

3-Year 12.9% 12.9% 13.8% 13.0% 13.4% 10.9% 13.8% 13.7% 13.7% 13.4%

5-Year 13.6% 13.6% 14.7% 13.6% 14.0% 11.6% 14.7% 14.7% 15.1% 13.9%

10-Year 17.7% 18.0% 19.5% 17.5% 18.5% 13.5% 19.4% 19.3% 19.4% 19.7%

DJ U.S. Select REIT Apartments Diversified Factory Outlets Health Care Hotels Industrial Malls Manufactured Homes Office Self-Storage Strip Centers

March 29, 2019

QTD 1-Year 16.4% 25.2% 13.7% 14.5% 5.3% 1.3% 12.0% 37.4% 15.8% 6.6% 20.0% 20.4% 9.5% 14.7% 17.5% 33.0% 20.1% 12.2% 9.9% 15.9% 19.2% 19.7%

FUNDAMENTALS

Real Estate Fundamentals Dow Jones U.S. Real Estate TSM Dow Jones U.S. Real Estate Dow Jones U.S. Select RESI REIT Fundamentals Dow Jones Composite All REIT Index Dow Jones Equity All REIT Index Dow Jones U.S. Mortgage REITs Index Dow Jones U.S. Select REIT Dow Jones U.S. Select Equal Weight REIT Dow Jones Townsend Core U.S. REIT Dow Jones U.S. Select Short-Term REIT

Div Yield 4.08 3.94 3.80

4.24 3.82 11.15 3.80 3.84 3.65 3.78

P/B 2.47 2.61 2.43

P/CF 17.23 17.21 16.98

12-M 1-Year

Trailing Forward

P/E

P/E

36.13

34.91

34.07

34.99

32.20

43.25

P/S 6.57 6.87 8.59

2.46

17.07

37.05

36.08

8.02

2.68

17.14

37.99

45.07

7.97

1.11

10.99

25.58

8.61

9.52

2.43

16.98

32.20

43.25

8.59

2.16

16.92

29.97

40.33

8.44

2.82

19.16

32.79

43.51 11.14

2.22

16.08

32.59

38.55

6.79

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Performance data is based on total return index levels in USD. Periods longer than 1 year represent annualized total returns. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

3

Dow Jones Global Real Estate Indices

March 29, 2019

INDEX PERFORMANCE

Cumulative Total Returns Annualized Total Returns STANDARD DEVIATION SECTOR RETURNS

Index Name Dow Jones Global Select RESI Dow Jones Global ex-U.S. Select RESI Dow Jones Americas Select RESI Dow Jones Asia/Pacific Select RESI Dow Jones Europe Developed Markets Select RESI Dow Jones Europe Select RESI Dow Jones Middle East & Africa Select RESI Dow Jones Global Select REIT Dow Jones Global ex-U.S. Select REIT Dow Jones Americas Select REIT Dow Jones Asia/Pacific Select REIT Dow Jones Europe Developed Markets Select REIT Dow Jones Europe Select REIT Dow Jones Middle East & Africa Select REIT

FUNDAMENTALS

Property Fundamentals Dow Jones Global Select RESI Dow Jones Global ex-U.S. Select RESI Dow Jones Americas Select RESI Dow Jones Asia/Pacific Select RESI Dow Jones Europe Developed Markets Select RESI Dow Jones Europe Select RESI REIT Fundamentals Dow Jones Global Select REIT Dow Jones Global ex-U.S. Select REIT Dow Jones Americas Select REIT Dow Jones Asia/Pacific Select REIT Dow Jones Europe Developed Markets Select REIT Dow Jones Europe Select REIT

QTD 13.9% 11.5% 15.7% 11.9% 10.9% 10.9%

1.1% 14.3% 11.7% 15.8% 11.1% 12.7% 12.7%

0.9%

1-Year 13.1% 4.6% 19.3% 13.6% -6.4% -6.4% -27.8% 14.7% 5.5% 19.5% 18.6% -11.6% -11.6% -27.9%

Div Yield 4.06 3.99 3.84 3.55 4.27 4.27

3-Year 5.1% 4.8% 5.2% 8.4% 1.0% 1.0% 4.5% 4.9% 4.2% 5.3% 8.6% -0.9% -0.9% 4.4%

5-Year 7.0% 4.6% 8.6% 6.9% 1.9% 1.9% 2.3% 7.8% 5.6% 8.8% 9.8% 1.2% 1.2% 2.3%

10-Year 15.6% 12.8% 18.2% 13.5% 12.0% 11.9% 8.6% 16.3% 13.1% 18.4% 14.9% 11.3% 11.3% 8.6%

3-Year 11.3% 10.7% 13.6% 10.1% 16.2% 16.2% 29.3% 11.7% 11.1% 13.7% 10.8% 18.0% 18.0% 29.3%

5-Year 10-Year 12.2% 16.2% 11.5% 16.0% 14.5% 18.9% 10.9% 15.7% 16.1% 21.1% 16.1% 21.2% 26.3% 25.2% 12.7% 16.4% 11.6% 15.5% 14.6% 19.1% 11.4% 14.8% 17.5% 21.7% 17.5% 21.7% 26.3% 25.2%

P/B 1.70 1.07 2.33 1.20 0.92 0.92

P/CF 16.6 17.1 16.8 17.2 17.1 17.1

12-M 1-Year

Trailing Forward

P/E

P/E

21.92 30.63

12.62 17.63

30.16 40.96

12.87 21.89

12.65 14.26

12.65 14.26

P/S 9.33 6.85 8.55 5.57 10.97 10.97

DJ Global Select RESI Apartments Diversified Factory Outlets Health Care Hotels Industrial Malls Manufactured Homes Office Self-Storage Strip Centers

DJ Global ex-U.S. Select RESI Apartments Diversified Factory Outlets Health Care Hotels Industrial Malls Manufactured Homes Office Self-Storage Strip Centers

4.06

1.70

16.6

21.92

30.63

9.33

4.56

1.07

15.9

13.54

19.15 11.21

3.84

2.33

16.8

30.16

40.96

8.55

3.98

1.33

16.5

12.91

23.64 12.87

5.17

0.79

14.9

16.85

15.80 10.16

5.17

0.79

14.9

16.85 15.80 10.16

QTD 15.9% 12.6% 5.3% 12.0% 15.6% 17.6% 8.9% 17.5% 16.1% 9.9% 16.4%

1-Year 24.2% 2.5% 1.3% 37.4% 7.6% 17.3% 2.1% 33.0% 13.3% 15.9% 23.4%

QTD 10.9% 12.4%

8.4% 8.3% 10.1% 12.4%

1-Year 14.6% -0.5% 4.5% -8.9% 15.2% 29.5%

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Performance data is based on total return index levels in USD. Periods longer than 1 year represent annualized total returns. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

4

S&P Global Property & REIT

REGION RETURNS

Cumulative Total Returns Annualized Total Returns

Index Name S&P Global Property S&P Global Property 40 S&P Global Ex-U.S. Property S&P Global REIT S&P Global Ex-U.S. REIT S&P Global BMI S&P Global Ex-U.S. BMI

QTD 14.5% 14.3% 13.4% 14.4% 12.0% 12.3% 10.4%

1-Year 10.3% 14.5%

2.9% 15.3%

5.8% 2.2% -4.4%

3-Year 7.2% 5.8% 8.4% 5.7% 5.3%

11.1% 8.6%

5-Year 7.3% 7.8% 6.3% 7.8% 6.0% 6.9% 3.4%

10-Year 14.7% 15.3% 12.7% 16.1% 13.3% 12.9% 9.9%

STANDARD DEVIATION

3-Year 10.9% 11.1% 11.3% 11.7% 10.9% 10.2% 10.6%

5-Year 11.7% 12.4% 12.3% 12.4% 11.3% 11.1% 11.9%

10-Year 16.0% 16.3% 16.9% 16.1% 15.4% 14.1% 15.8%

March 29, 2019

SECTOR RETURNS

S&P Global Property Diversified Hotel/Resort/Leisure Industrial Office Space Health Care Retail Storage Specialty Residential

QTD 14.9% 15.1% 19.2% 15.7% 13.0% 12.0% 10.3% 14.4% 14.9%

1-Year 4.0% 6.4% 19.4% 11.6% 33.5% 9.1% 15.6% 17.9% 11.7%

FUNDAMENTALS

S&P Global Property S&P Global Property 40 S&P Global Ex-U.S. Property S&P Global REIT S&P Global Ex-U.S. REIT S&P Global BMI S&P Global Ex-U.S. BMI

Div Yield 3.96 3.40 3.86 4.37 4.82 2.50 3.15

P/B 1.38 1.72 1.05 1.64 1.08 2.08 1.50

12-Month 1-Year

Trailing Forward

P/CF

PE

P/E

16.75

15.80

19.80

17.28

16.80

22.53

16.89

11.14

13.64

16.25

22.13

29.03

15.86

13.87

18.12

12.27

18.56

15.82

12.17

15.25

13.86

P/S 4.16 4.90 2.99 8.63 9.70 1.54 1.19

S&P Global REIT Diversified Hotel/Resort/Leisure Industrial Office Space Health Care Retail Storage Specialty Residential

QTD 13.8% 15.5% 19.6% 15.7% 13.0% 12.3% 10.4% 14.4% 15.6%

1-Year 8.8% 7.2% 19.8% 12.1% 33.5% 10.6% 15.7% 17.9% 24.0%

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Performance data is based on total return index levels in USD. Periods longer than 1 year represent annualized total returns. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

5

S&P Developed Property & REIT

March 29, 2019

REGION RETURNS

Cumulative Total Returns Annualized Total Returns STANDARD DEVIATION

SECTOR RETURNS

Index Name S&P Developed Property S&P Developed Ex-U.S. Property

QTD 14.4% 13.1%

1-Year 12.4% 4.8%

3-Year 6.7% 7.5%

5-Year 10-Year 7.5% 15.2% 6.3% 13.2%

3-Year 10.9% 10.7%

5-Year 10-Year 11.7% 15.9% 11.5% 16.4%

S&P Developed Property QTD

Diversified

15.0%

Hotel/Resort/Leisure

15.6%

1-Year 6.4% 7.1%

S&P North America Property

15.9% 20.7%

6.0%

8.6% 18.2% 13.8% 14.4% 18.8% Industrial

19.4% 20.2%

S&P U.S. Property

15.8% 20.9%

5.8%

8.7% 18.3% 14.0% 14.7% 19.1% Office Space

15.7% 11.8%

S&P Europe Property

11.4% -2.4%

4.4%

5.0% 13.0% 14.5% 14.7% 20.1% Health Care

13.0% 33.5%

S&P Asia-Pacific Property

13.5%

8.1%

8.9%

7.0% 13.3% 10.7% 11.7% 16.9% Retail

12.4%

9.9%

S&P Developed REIT

14.6% 16.2%

5.9%

8.1% 16.4% 11.8% 12.5% 16.2% Storage

10.4% 15.7%

S&P Developed Ex-U.S. REIT

12.3%

7.5%

5.9%

6.6% 13.7% 10.7% 11.2% 15.4% Specialty

14.4% 17.9%

S&P North America REIT S&P U.S. REIT S&P Europe REIT S&P Asia-Pacific REIT

15.9% 15.8% 12.6% 11.7%

21.2% 21.3% -9.0% 17.0%

6.0% 5.8% -0.5% 9.0%

8.8% 8.9% 1.4% 9.7%

18.3% 18.4% 10.5% 15.6%

13.9% 14.0% 16.3% 10.7%

14.5% 14.7% 16.1% 11.3%

18.7% 19.0% 20.9% 15.0%

Residential

S&P Developed REIT Diversified

13.8% 15.4%

QTD 1-Year 14.7% 13.1%

S&P Developed BMI

12.5%

3.2% 11.1%

7.1% 13.2% 10.3% 11.1% 13.9% Hotel/Resort/Leisure

15.6%

7.4%

S&P Developed Ex-U.S. BMI

10.3% -4.1%

7.9%

3.1% 10.0% 10.7% 11.7% 15.5% Industrial

19.4% 20.2%

S&P North America BMI

14.1%

8.4% 13.1%

9.7% 15.5% 11.1% 11.5% 13.4% Office Space

15.8% 12.2%

S&P U.S. BMI

14.0%

8.7% 13.5% 10.3% 16.1% 11.1% 11.5% 13.2% Health Care

13.0% 33.5%

S&P Europe BMI S&P Asia-Pacific BMI FUNDAMENTALS

Property Fundamentals S&P Developed Property

11.2% 8.0%

-3.8% -6.2%

Div Yield 3.90

7.3% 8.8%

P/B 1.43

2.0% 5.1%

10.3% 9.8%

11.9% 10.7%

P/CF 16.09

12-M 1-Year

Trailing Forward

P/E

P/E

16.97

23.54

12.6% 12.0%

P/S 5.29

17.5% 14.1%

Retail Storage Specialty Residential

12.4% 10.4% 14.5% 15.7%

10.8% 15.7% 17.9% 24.6%

S&P Developed Ex-U.S. Property

3.70

1.04

15.63

11.36

15.95

3.92

S&P North America Property

4.10

2.23

16.62

30.41

40.33

8.04

S&P U.S. Property S&P Europe Property S&P Asia-Pacific Property REIT Fundamentals S&P Developed REIT

4.09

2.29

16.57

33.19

42.47

8.09

4.05

1.00

17.84

11.53

15.32

8.50

3.50

1.05

14.63

11.43

16.38

3.03

4.26

1.68

16.31

21.79

30.29

8.72

S&P Developed Ex-U.S. REIT

4.54

1.11

16.00

13.13

19.05

10.14

S&P North America REIT

4.14

2.25

16.48

30.72

40.42

8.07

S&P U.S. REIT

4.12

2.30

16.48

33.20

42.33

8.13

S&P Europe REIT

5.07

0.86

15.49

15.49

16.03

9.45

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Performance data is based on total return index levels in USD. Periods longer than 1 year represent annualized total returns. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

6

S&P Emerging Property & REIT

REGION RETURNS

Cumulative Total Returns Annualized Total Returns STANDARD DEVIATION

Index Name S&P Emerging Property S&P Emerging REIT S&P Emerging BMI S&P Asia Pacific Emerging Property S&P Asia Pacific Emerging REIT S&P Asia Pacific Emerging BMI S&P Latin America Property S&P Latin America REIT S&P Latin America BMI

QTD 14.8%

7.9% 10.4% 17.8% 13.4%

8.0% 12.4% 26.0%

8.7%

1-Year -3.8% -13.2% -5.9% 1.1% 20.9% -6.2% -5.6% -0.1% -5.3%

3-Year 12.1% -1.9% 11.3% 18.5% 13.6% 8.8% -1.3% -6.1% 12.1%

5-Year 6.1% -1.1% 4.7%

11.5% 10.5%

5.1% -7.2% -7.3% 0.2%

10-Year 10.6% 8.2% 9.8% 13.0% 14.5% 9.8% 9.2% 6.2%

3-Year 16.0% 18.5% 12.6% 18.4% 9.3% 10.7% 21.7% 25.7% 22.3%

5-Year 18.0% 17.7% 15.0% 20.9% 9.9% 12.0% 21.7% 23.4% 23.9%

10-Year 22.7% 18.3% 18.7% 26.0% 11.7% 14.1% 25.0% 24.4%

March 29, 2019

SECTOR RETURNS

S&P Emerging Property Diversified Hotel/Resort/Leisure Industrial Office Space Health Care Retail Storage Specialty Residential

QTD 14.6% -3.3% 15.0%

1.5% -

9.0% -

25.0%

1-Year -3.4% -16.4% 4.0% -20.9% 1.6% -11.2%

FUNDAMENTALS

S&P Emerging Property S&P Emerging REIT S&P Emerging BMI S&P Asia Pacific Emerging Property S&P Asia Pacific Emerging REIT S&P Asia Pacific Emerging BMI S&P Latin America Property S&P Latin America REIT S&P Latin America BMI

Div Yield 4.44 8.47 2.79 3.59 4.98 2.40 4.89 8.41 3.13

P/B 1.10 0.83 1.64 1.24 1.56 1.86 0.92 0.69 1.63

P/CF 24.3 NM 24.4 NM NM 25.6 9.7 7.4 13.6

12-M 1-Year

Trailing Forward

P/E

P/E

10.4

8.8

55.4

11.3

13.7

12.8

9.1

8.4

17.5

18.7

16.9

15.0

9.9

13.9

7.7

10.6

11.8

11.4

P/S 1.6 6.2 1.5 1.3 12.9 1.5 7.3 6.2 1.4

S&P Emerging REIT Diversified Hotel/Resort/Leisure Industrial Office Space Health Care Retail Storage Specialty Residential

QTD 7.2%

23.4% -61.2%

5.8%

-

1-Year -19.1%

5.2% -69.5%

0.7%

-

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Performance data is based on total return index levels in USD. Periods longer than 1 year represent annualized total returns. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

7

Performance by Country (S&P Property Country Indices)

March 29, 2019

PROPERTY INDEX PERFORMANCE

Developed

QTD

Australia

15.3%

Austria

11.6%

Belgium

11.5%

Canada

18.6%

Finland

12.9%

France

12.2%

Germany

10.6%

Hong Kong

20.8%

Israel

19.9%

Italy

17.5%

Japan

8.9%

Netherlands

-2.3%

New Zealand

10.6%

Norway

12.9%

Singapore

13.3%

Spain

5.7%

Sweden

12.3%

Switzerland

8.7%

United Kingdom

13.1%

United States

15.8%

Emerging

QTD

Brazil

-2.7%

Chile

18.9%

China

21.9%

Egypt

19.7%

Greece

25.0%

Indonesia

5.6%

Malaysia

4.4%

Mexico

23.3%

Philippines

13.7%

Poland

4.7%

Qatar

-0.9%

South Africa

-0.4%

Taiwan

8.8%

Thailand

8.1%

Turkey

-6.3%

United Arab Emirates

10.1%

YTD 15.3% 11.6% 11.5% 18.6% 12.9% 12.2% 10.6% 20.8% 19.9% 17.5%

8.9% -2.3% 10.6% 12.9% 13.3% 5.7% 12.3% 8.7% 13.1% 15.8%

YTD -2.7% 18.9% 21.9% 19.7% 25.0% 5.6% 4.4% 23.3% 13.7% 4.7% -0.9% -0.4% 8.8% 8.1% -6.3% 10.1%

1-Year 14.5%

1.1% 13.2% 14.9% 11.6% -15.5%

6.5% 13.9% 15.6%

5.7% 3.7% -17.2% 18.4% 15.2% 1.2% -14.7% 25.6% 3.1% -7.5% 20.9% 1-Year -9.2% -10.7% 2.3% -24.4% 8.7% -20.0% -9.8% -1.6% 14.2% -9.7% 10.2% -26.8% 4.0% -0.8% -53.6% -20.5%

3-Year 7.2%

18.0% 12.0% 10.8% 11.5% -3.9% 14.1% 17.3% 15.6%

9.3% 4.4% -6.8% 9.4% 18.0% 11.4% 7.9% 13.9% 6.2% -2.2% 5.8% 3-Year 7.0% 15.2% 27.0% -9.2% 17.7% -13.0% -3.7% -6.3% 9.3% 8.1% 0.4% -2.0% 11.3% 13.3% -31.5% -7.0%

5-Year 8.5% 7.4%

10.5% 5.4% 3.8% 0.6%

16.6% 11.3%

8.9% 0.0% 3.8% -2.5% 9.5% 8.9% 6.3% 9.2% 12.6% 6.7% -1.1% 8.7% 5-Year -7.0% 9.4% 17.6% -9.7% 4.0% -10.2% -5.2% -7.7% 9.9% 3.3%

0.3% 2.9% 9.0% -21.0%

-

10-Year 15.5% 18.2% 10.6% 16.1% 13.7% 10.4% 16.7% 13.5% 15.9% 1.4% 11.6% 3.4% 15.7% 13.5% 14.9% -11.4% 22.2% 12.5% 11.2% 18.3%

10-Year 7.3%

20.5% 14.4% -3.4% 13.5%

4.0% 7.2%

22.3%

2.6% -

8.3% 12.9% 24.7% -5.1%

-

STANDARD DEVIATION

3-Year

5-Year

12.6%

14.3%

16.6%

18.8%

11.7%

12.8%

12.1%

13.9%

20.7%

20.5%

17.6%

18.1%

17.5%

17.3%

16.7%

18.5%

14.1%

14.6%

23.5%

24.3%

9.8%

10.4%

18.0%

17.9%

13.7%

15.2%

16.6%

18.1%

13.6%

14.7%

16.4%

26.4%

16.3%

17.0%

10.4%

14.2%

19.8%

18.4%

14.0%

14.7%

3-Year

5-Year

39.8%

38.8%

24.0%

22.2%

24.2%

28.9%

34.0%

33.3%

19.7%

24.0%

24.9%

28.9%

14.6%

16.1%

25.5%

23.0%

18.3%

17.8%

18.3%

21.0%

21.6%

-

27.2%

25.1%

13.2%

18.4%

14.3%

15.0%

30.0%

29.9%

17.3%

-

10-Year 19.2% 32.7% 15.5% 16.9% 28.3% 23.1% 21.5% 22.8% 21.1% 33.8% 18.1% 23.3% 17.4% 45.1% 22.9% 47.0% 24.5% 15.4% 22.1% 19.1%

10-Year 35.4% 26.8% 32.8% 39.3% 36.1% 19.9% 24.8% 31.2% 24.7% 26.5% 28.8% 38.0% -

Source: S&P Dow Jones Indices LLC. Data as of March 29, 2019. Past performance is no guarantee of future results. Tables are provided for illustrative purposes and reflect hypothetical historical performance. Please see the Performance Disclosure at the end of this document for more information regarding the inherent limitations associated with back-tested performance. Index returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance.

S&P Dow Jones Indices

Scorecard | Real Estate

8

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