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A Subsector Overview of ICF’s Holdings

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Dec. 4 2020, Updated 10:52 a.m. ET

Investment methodology

The iShares Cohen & Steers REIT ETF (ICF) seeks to mimic the market performance of the Cohen & Steers Realty Majors Index. ICF’s portfolio consists of REIT stocks only.

The underlying index is weighted according to the total free-float–adjusted market value of each REIT’s outstanding shares and is adjusted quarterly so that no REIT represents more than 9% of the underlying index.

ICF’s top holding, Public Storage (PSA), represent 8.2% of its total portfolio. The REIT subsector breakdown of ICF’s portfolio is given in the above chart.

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ICF currently manages a total portfolio of 30 holdings, all hailing from the financial sector. The fund manages a total portfolio of $3.6 billion distributed over different types of REIT stocks. ICF’s top holdings are Public Storage, Equity Residential (EQR), Boston Properties (BXP), Equinix (EQIX), and Vornado Realty Trust (VNO).

Moving averages

All 30 of ICF’s holdings are from the broader financial sector. On average, the portfolio is trading above its 20-day, 50-day, and 100-day moving averages by 1.1%, 2.2%, and 3.8%, respectively. The financial sector has underperformed in 3Q15, with reported earnings being less than analysts’ estimates by an average of 1.1%.

In the next part of the series, we’ll analyze the potential effects of adding ICF to your portfolio.

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