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Launched · SEC filings

Intelligent Real Estate ETF

REAINasdaqArmada ETF AdvisorsC

$20.24+0.42 (+2.12%)

At close: Nov 2, 2026, 4:00 PM ET

C40/ 100

Rank 23 of 35 in US Active Sector

C40/100Rank 23 of 35inUS Active Sector
Intraday session: up, 78 prints from 19.82 to 20.24. Range 20.20 to 20.35. Use the arrow keys to read each point.19.9020.0020.1020.3010 AM12 PM2 PM4 PM
Expense ratio
0.59%
Fund size
$1M
1Y total return
+4.4%
Yield · Last 12 months
2.40%
Holdings
24
Avg volume · 30D
169 sh
52W range
low $18.30high $21.95
Launched
Filings
SEC EDGAR

The ETF.net REAI Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
US Active Sector⁠
Rank
23 of 35
Six-pillar profile for REAI. Scores out of 100: Cost 65, Risk 43, Mission not scored, Tradability 9, Holdings 49, Durability 32. Strongest: Cost (65). Weakest: Tradability (9). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
45
This cap took
−5
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B65 out of 100
    Rank 12 of 35

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C43 out of 100
    Rank 22 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F9 out of 100
    Rank 34 of 35

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C49 out of 100
    Rank 22 of 35

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D32 out of 100
    Rank 30 of 35

Our read on REAI

ETF.net Research

In short

CArmada is a REIT-only quant shop, and REAI is its house view in an ETF: actively picked commercial REITs plus a smaller mortgage-backed sleeve, measured against the Dow Jones U.S. Select REIT Index.

Stated mandate

The Fund seeks total return through active management of publicly traded REITs and limited mortgage-backed securities. Investments are primarily listed on U.S. exchanges, with smaller allocations to Canadian, European, and Asian exchanges.

Why people hold it

  • Charges 0.59% a year, below the 0.65% median for actively managed US equity ETFs, which is uncommon for a boutique running a specialist sleeve.
  • Narrow by design: a real estate specialist picking mostly US-listed commercial REITs, with smaller allocations to Canadian, European and Asian listings.armadaetfs.com
  • Names a plain benchmark, the Dow Jones U.S. Select REIT Index, so the stock picking can be checked against ordinary REIT exposure.

Worth knowing

  • A small fund that trades thinly. Spreads can be wide and the shares can be hard to move in size, unlike the big REIT index funds.
  • Launched in 2023 as a listed-REIT stand-in for private real estate, then rebranded in January 2024 to the current factor-driven REIT strategy, so the mandate's history is short.armadaetfs.com
  • One sector, actively run, at 0.59%. That is a real premium over index REIT exposure, and it sits in the lower half of the active US equity funds we grade.

REAI Performance

Launched Jun 12, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
REAI$10,445
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. REAI $10,445. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for REAI. Periods over one year show the average yearly return.
PeriodREAI
Year to date+10.1%
1 month+2.1%
3 months−4.5%
1 year+4.4%
3 yearsper year+10.0%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for REAI
YearReturn barREAI
2026 YTD+10.1%
2025−6.3%
2024+8.0%
2023+1.5%

History from Jun 13, 2023

REAI in the news

REAI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.40%Last 12 months
Payout per share
$0.49Last 12 months
Last payment
$0.33 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2023–2026

One bar per payment. 11 payments from 2023 to 2026 YTD. Nov 10, 2023 $0.17; Dec 26, 2023 $0.23; Apr 25, 2024 $0.21; Jul 29, 2024 $0.19; Oct 29, 2024 $0.19; Dec 27, 2024 $0.12; Apr 25, 2025 $0.32; Jul 29, 2025 $0.17; Oct 29, 2025 $0.31; Mar 27, 2026 $0.16; Sep 28, 2026 $0.33. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 28, 2026Sep 29, 2026$0.33
Mar 27, 2026Mar 30, 2026$0.16
Oct 29, 2025Oct 30, 2025$0.31
Jul 29, 2025Jul 30, 2025$0.17
Apr 25, 2025Apr 28, 2025$0.32
Dec 27, 2024Dec 31, 2024$0.12
Oct 29, 2024Oct 31, 2024$0.19
Jul 29, 2024Jul 31, 2024$0.19
Apr 25, 2024Apr 30, 2024$0.21
Dec 26, 2023Dec 29, 2023$0.23
Nov 10, 2023Nov 14, 2023$0.17

$10,000 in REAI 3 years ago paid $1,313 in dividends.

REAI Risk

Risk pillarC43 out of 100Rank 22 of 35 in US Active Sector
How much the fund’s monthly returns vary, scaled to a year.
16.6%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.39
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−22.3%
40 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.03
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

REAI Cost

Compare REAI and TRUF

Overpaying vs TRUF, tied cheapest in US Active Sector

$9,529

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • REAI 0.59%

    $11,635

  • TRUF 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • REAI 0.59%
  • TRUF 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530REAI $11,635TRUF $2,106

Year by year

YearREAITRUFOverpaying
10$1,058$183$875
20$4,051$717$3,334
30$11,635$2,106$9,529

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