PPTY vs SCHH: Grades, Fees and Holdings Compared

US Diversified Real Estate ETF

PPTYCNYSE Arca

Schwab U.S. REIT ETF

SCHHANYSE Arca

Overlap

47.7%by weight

Expense ratio

SCHH −0.46pt a year

PPTY0.53%SCHH0.07%

Avg volume · 30D

SCHH 2917.2×the volume

PPTY2.62KSCHH7.63M

5Y return · a year

SCHH +1.2pt

PPTY+0.6%SCHH+1.8%

PPTY vs SCHH Performance

Oct 29, 2021 – Oct 30, 2026

+3.2%PPTY+9.3%SCHH

Expense ratio: PPTY 0.53%; SCHH 0.07%, better
Fund size: PPTY $23M; SCHH $11B
1Y total return: PPTY +10.9%; SCHH +12.7%, better
Yield (12M): PPTY 2.60%; SCHH 2.94%, better
Holdings: PPTY 84; SCHH 121
Avg volume (30D): PPTY 2.62K sh; SCHH 7.63M sh, better
NAV per share: PPTY $32.16; SCHH $23.06
52W range

ETF.net Grade

Pillar letters and Scores for PPTY, SCHH, with each pillar’s weight
Pillar	PPTY	SCHH
Cost30% weight	F10	A93Higher
Mission25% weight	A100	A100
Risk15% weight	C45	C52Higher
Tradability15% weight	F23	A78Higher
Holdings10% weight	A83Higher	B68
Durability5% weight	D37	A78Higher

Rank among US Real Estate funds

How we build Categories ›

Same Category. PPTY and SCHH are both graded against the same 21 US Real Estate funds, so their Grades compare head to head.

US Real Estate⁠

Category · 21 funds

See all 21 ›

SCHH ranks 1st and PPTY 15th of 21 funds in the US Real Estate Category.

Rank 1ASCHHSchwab U.S. REIT ETFScore 83
Rank 1AUSRTiShares Core U.S. REIT ETFScore 83
Rank 13CRSPRInvesco S&P 500 Equal Weight Real Estate ETFScore 53
Rank 15CPPTYUS Diversified Real Estate ETFScore 48
Rank 16CRIETHoya Capital High Dividend Yield ETFScore 44

Our read on each fund

ETF.net Research

PPTYCUS Diversified Real Estate ETF

SCHHASchwab U.S. REIT ETF

In short

PPTY Most US real estate ETFs copy the same cap-weighted REIT list. PPTY runs its own custom index instead, a boutique take on American property that charges more than the giants for the privilege.

SCHH Landlord exposure at a rounding-error price. SCHH owns the US equity REIT market, roughly 120 of them, for 0.07% a year, a fraction of what the typical real estate fund charges.

Stated mandate

PPTY The fund uses a passive, index-tracking approach intended to follow the PPTYX – U.S. Diversified Real Estate Index before fees and expenses.

SCHH The fund seeks to track, before fees and expenses, an index of U.S. equity-classified real estate investment trusts.

Why people hold it

PPTY Tracks a bespoke benchmark, the PPTYX U.S. Diversified Real Estate Index, that no other fund in its peer group follows. A different basket, not another copy of the standard REIT list.
Passive by design, and it has hugged that index about as closely as anything in the US real estate group.
The portfolio is one of the better spread-out books in the category rather than a top-heavy handful of names.
Straight US property exposure, no foreign landlords, with cash paid out quarterly.

SCHH 0.07% a year undercuts every major broad REIT rival: VNQ at 0.13%, USRT, FREL and XLRE at 0.08%, against a 0.37% category median.
Straight-up landlords. The index covers US equity-classified REITs, the companies that own and rent property, not the wider real estate services trade.schwabassetmanagement.com
It hugs its index about as closely as anything in the broad US REIT group, one of the strongest implementations among its peers.
A multi-billion-dollar fund that trades heavily, which keeps spreads tight for retail-size orders and has done since its 2011 launch.

Worth knowing

PPTY The 0.53% fee sits above the 0.37% peer median and far above index heavyweights like SCHH (0.07%) and VNQ (0.13%). Cost is the main reason it lands in the lower half of its group.
It has stayed one of the smaller, thinner-traded funds in the category since its 2018 launch, so the bid/ask spread is a real part of the cost.
One sector, one country. Real estate moves on its own rate-driven cycle, and there is nothing here to cushion it.

SCHH One sector, about 120 names. It moves with property markets and interest rates, not the broad market, so the ride is bumpier than a total-market fund.
Income arrives quarterly, not monthly, which matters if you budget off distributions.
US only, and equity REITs only: no overseas property and no mortgage REITs in the mix.schwabassetmanagement.com

Full PPTY profile⁠

Full SCHH profile⁠

PPTY vs SCHH Holdings

How PPTY and SCHH differ

Overlap by weight

47.7%

Shared holdings make up 87.8% of PPTY and 76.3% of SCHH.

Level by level

Holdings76 in both47.7%
Sector3 Sectors94.1%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in PPTY and SCHH, widest gap first
Sector	More in PPTYMore in SCHH	PPTY	SCHH
Real Estate	SCHH +5.9 points	94.1%	100.0%
Consumer Discretionary	PPTY +5.6 points	5.6%	0.0%
Health Care	PPTY +0.3 points	0.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in PPTY and SCHH, widest gap first
Country	More in PPTYMore in SCHH	PPTY	SCHH
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

PPTY37.2%
SCHH51.0%

Securities held

PPTY83
SCHH121

Asset class

PPTY: Equity
SCHH: Equity

Holdings

Only in PPTY7
In both76
Only in SCHH45

Only in PPTY

7 securities, 13.6% of PPTY by weight

Vivmark Residential7.12%
Marriott International Inc/MD2.51%
Hilton Worldwide Holdings Inc2.09%
Hyatt Hotels Corp0.69%
Wyndham Hotels & Resorts Inc0.46%
Choice Hotels International Inc0.42%
National HealthCare Corp0.31%

Only in SCHH

45 securities, 23.7% of SCHH by weight

American Tower Reit4.92%
Vivmark Residential3.19%
Crown Castle Inc2.71%
Iron Mountain Inc2.53%
Vici Pptys Inc1.94%
Sba Communications Reit Corp Class1.41%
Weyerhaeuser Reit1.02%
Lamar Advertising Company Class A0.99%
Gaming and Leisure Properties Reit0.82%
Outfront Media0.41%
Rayonier Reit0.38%
Epr Properties Reit0.32%
Americold Realty Inc Trust0.30%
Millrose Properties Inc Class A0.29%
Park Hotels Resorts Inc0.24%
Curbline Properties0.22%
Pebblebrook Hotel Trust Reit0.18%
Janus Living Inc Class A0.18%
Lineage0.15%
Smartstop Self Storage Reit Inc0.14%
Diversified Healthcare Trust0.12%
Rlj Lodging Trust Reit0.12%
Global Net Lease Inc0.11%
Blackstone Digital Infrastructure0.11%
Medical Properties Trust Reit0.09%
Ssc Government Mm Gvmxx0.08%
Cbl Associates Properties0.07%
Fermi Inc0.06%
Service Properties Trust0.06%
Summit Hotel Properties Reit0.05%
Cto Realty Growth0.05%
National Healthcare Properties0.05%
Postal Realty Trust Class A0.04%
Hudson Pacific Properties Reit0.04%
Gladstone Commercial Reit Corp0.04%
Brandywine Realty Trust Reit0.04%
Safehold Inc0.04%
Ah Realty Inc0.03%
Nexpoint Residential Trust Inc0.03%
Chiron Real Estate Inc0.03%
Farmland Partners Inc0.03%
Community Healthcare Trust Inc0.02%
Gladstone Land Reit0.02%
Site Centers0.01%
Us Dollar0.01%

Weight gaps

All 76 Holdings in both funds, largest gap first.

Holding weights in PPTY and SCHH, widest gap first
Holding	More in PPTYMore in SCHH	PPTY	SCHH
Welltower IncWELL	SCHH +6.67 points	3.26%	9.93%
Prologis IncPLD	SCHH +4.42 points	3.88%	8.30%
Four Corners Property Trust IncFCPT	PPTY +3.65 points	3.83%	0.18%
Realty Income CorpO	SCHH +3.21 points	0.67%	3.88%
Public StoragePSA	SCHH +2.80 points	1.02%	3.82%
Kilroy Realty CorpKRC	PPTY +2.70 points	3.00%	0.30%
Easterly Government Properties IncDEA	PPTY +2.42 points	2.49%	0.07%
Terreno Realty CorpTRNO	PPTY +2.11 points	2.62%	0.51%
Ventas IncVTR	SCHH +2.03 points	1.05%	3.08%
Simon Property Group IncSPG	SCHH +1.94 points	2.75%	4.69%
American Homes 4 RentAMH	PPTY +1.90 points	2.62%	0.72%
Highwoods Properties IncHIW	PPTY +1.87 points	2.11%	0.24%
STAG Industrial IncSTAG	PPTY +1.51 points	2.03%	0.52%
Innovative Industrial Properties IncIIPR	PPTY +1.51 points	1.62%	0.11%
BXP IncBXP	PPTY +1.52 points	2.24%	0.72%
Extra Space Storage IncEXR	SCHH +1.50 points	0.77%	2.27%
UDR IncUDR	PPTY +1.37 points	2.11%	0.74%
Alexandria Real Estate Equities IncARE	PPTY +1.32 points	1.78%	0.46%
COPT Defense PropertiesCDP	PPTY +1.29 points	1.57%	0.28%
LXP Industrial TrustLXP	PPTY +1.24 points	1.50%	0.26%
Cousins Properties IncCUZ	PPTY +1.20 points	1.54%	0.34%
Mid-America Apartment Communities IncMAA	PPTY +1.00 points	1.98%	0.98%
Independence Realty Trust IncIRT	PPTY +0.96 points	1.21%	0.25%
Camden Property TrustCPT	PPTY +0.92 points	1.65%	0.73%
Acadia Realty TrustAKR	PPTY +0.92 points	1.11%	0.19%
EastGroup Properties IncEGP	PPTY +0.91 points	1.68%	0.77%
Vornado Realty TrustVNO	PPTY +0.90 points	1.31%	0.41%
Digital Realty Trust IncDLR	SCHH +0.86 points	3.69%	4.55%
Federal Realty Investment TrustFRT	PPTY +0.84 points	1.48%	0.64%
Essex Property Trust IncESS	PPTY +0.82 points	2.04%	1.22%
WP Carey IncWPC	PPTY +0.73 points	1.79%	1.06%
Empire State Realty Trust IncESRT	PPTY +0.68 points	0.73%	0.05%
Healthpeak Properties Inc.DOC	SCHH +0.66 points	0.28%	0.94%
Getty Realty CorpGTY	PPTY +0.64 points	0.76%	0.12%
Regency Centers CorpREG	PPTY +0.63 points	1.53%	0.90%
First Industrial Realty Trust IncFR	PPTY +0.59 points	1.11%	0.52%
Host Hotels & Resorts IncHST	SCHH +0.57 points	0.69%	1.26%
Tanger IncSKT	PPTY +0.50 points	0.81%	0.31%
Rexford Industrial Realty IncREXR	SCHH +0.50 points	0.11%	0.61%
Phillips Edison & Co IncPECO	PPTY +0.49 points	0.85%	0.36%
NNN REIT IncNNN	SCHH +0.48 points	0.09%	0.57%
Omega Healthcare Investors IncOHI	SCHH +0.47 points	0.55%	1.02%
Kite Realty Group TrustKRG	PPTY +0.44 points	0.80%	0.36%
Brixmor Property Group IncBRX	PPTY +0.43 points	1.07%	0.64%
American Healthcare REIT IncAHR	SCHH +0.40 points	0.43%	0.83%
Macerich Co/TheMAC	SCHH +0.39 points	0.10%	0.49%
Essential Properties Realty Trust IncEPRT	SCHH +0.32 points	0.09%	0.41%
American Assets Trust IncAAT	PPTY +0.32 points	0.40%	0.08%
InvenTrust Properties CorpIVT	PPTY +0.29 points	0.46%	0.17%
CubeSmartCUBE	SCHH +0.25 points	0.37%	0.62%
CareTrust REIT IncCTRE	SCHH +0.24 points	0.37%	0.61%
UMH Properties IncUMH	PPTY +0.22 points	0.31%	0.09%
Sunstone Hotel Investors IncSHO	PPTY +0.23 points	0.40%	0.17%
DiamondRock Hospitality CoDRH	PPTY +0.20 points	0.41%	0.21%
Equinix IncEQIX	SCHH +0.19 points	4.46%	4.65%
LTC Properties IncLTC	PPTY +0.18 points	0.35%	0.17%
Agree Realty CorpADC	PPTY +0.17 points	0.77%	0.60%
Apple Hospitality REIT IncAPLE	PPTY +0.15 points	0.45%	0.30%
Broadstone Net Lease IncBNL	SCHH +0.15 points	0.09%	0.24%
Ryman Hospitality Properties IncRHP	SCHH +0.13 points	0.53%	0.66%
Kimco Realty CorpKIM	PPTY +0.09 points	1.27%	1.18%
Healthcare Realty Trust IncHR	SCHH +0.09 points	0.36%	0.45%
Urban Edge PropertiesUE	SCHH +0.09 points	0.09%	0.18%
National Health Investors IncNHI	PPTY +0.07 points	0.31%	0.24%
Invitation Homes IncINVH	SCHH +0.07 points	0.96%	1.03%
Sun Communities IncSUI	SCHH +0.07 points	0.91%	0.98%
Alexanders IncALX	PPTY +0.06 points	0.10%	0.04%
CenterspaceCSR	PPTY +0.05 points	0.12%	0.07%
JBG SMITH PropertiesJBGS	PPTY +0.04 points	0.09%	0.05%
NETSTREIT CorpNTST	SCHH +0.04 points	0.09%	0.13%
Xenia Hotels & Resorts IncXHR	SCHH +0.03 points	0.11%	0.14%
Douglas Emmett IncDEI	SCHH +0.03 points	0.09%	0.12%
Piedmont Realty Trust IncPDM	PPTY +0.02 points	0.11%	0.09%
Equity LifeStyle Properties IncELS	SCHH +0.02 points	0.80%	0.82%
SL Green Realty CorpSLG	Same weight	0.26%	0.26%
Sabra Health Care REIT IncSBRA	Same weight	0.36%	0.36%

All PPTY holdings⁠All 122 SCHH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PPTY vs SCHH Cost

Overpaying PPTY vs SCHH

$9,056

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

PPTY 0.53%
$10,536
SCHH 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

PPTY 0.53%
SCHH 0.07%
Overpaying

Year by year

Year	PPTY	SCHH	Overpaying
10	$953	$128	$825
20	$3,658	$503	$3,155
30	$10,536	$1,480	$9,056

Expense ratio

0.53%PPTY
0.07%SCHH, cheaper

SCHH0.07%PPTY0.53%

0.07%0.65%

Middle half of US Real Estate funds
Median 0.35%

SCHH cheapest of 21 funds

PPTY 19th cheapest of 21 funds

PPTY vs SCHH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): PPTY 2.60%; SCHH 2.94%, better
Payout (12M): PPTY $0.84; SCHH $0.68
Last payment: PPTY $0.29; SCHH $0.17
Ex-dividend: PPTY Oct 20, 2026; SCHH Sep 23, 2026
Paid on: PPTY Oct 21, 2026; SCHH Sep 28, 2026
Frequency: PPTY Quarterly; SCHH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PPTYQuarterly · 34 paymentsAll PPTY payments⁠

SCHHQuarterly · 40 paymentsAll SCHH payments⁠

PPTY vs SCHH Risk

Fall from peak · 5 years

PPTY
SCHH

Risk facts

VolatilityStd dev, 3 years: PPTY 14.9%, betterSCHH 16.3%
Return per unit of riskSharpe ratio, 3 years: PPTY 0.52SCHH 0.60, better
Worst fallMax drawdown, 5 years: PPTY −32.4%, betterSCHH −33.3%
Market sensitivityBeta, 5 years: PPTY 0.92SCHH 0.95; Market = 1

PPTY and SCHH in the news

All news⁠

Category Review
Vanguard's property fund lost a first-half lead over stocks
Updated Oct 8, 2026SCHH
Deep Dive
Vanguard's property fund is up 4% this year. Mortgage funds are down 15%
Oct 5, 2026SCHH
Deep Dive
The 10-year is back at 5.01%. Listed REIT funds fell 2%
Sep 19, 2026SCHH
Deep Dive
Equity REIT funds fell 1.3%. VanEck's mortgage REIT fund hit a 52-week low
Sep 12, 2026SCHH
News
Independence Realty to take Centerspace in 3.800-share all-stock merger
Sep 9, 2026SCHH
Deep Dive
September's $2.74 billion CMBS wall is half of August's, with more already in special servicing
Sep 5, 2026SCHH

Popular comparisons

PPTYCvsUSRTA
US Diversified Real Estate ETF · iShares Core U.S. REIT ETF
Expense ratio
0.53% · 0.08%
Category
SCHHAvsUSRTA
Schwab U.S. REIT ETF · iShares Core U.S. REIT ETF
Expense ratio
0.07% · 0.08%
Category
PPTYCvsFRELA
US Diversified Real Estate ETF · Fidelity MSCI Real Estate Index ETF
Expense ratio
0.53% · 0.08%
Category
SCHHAvsFRELA
Schwab U.S. REIT ETF · Fidelity MSCI Real Estate Index ETF
Expense ratio
0.07% · 0.08%
Category
PPTYCvsXLREA
US Diversified Real Estate ETF · State Street Real Estate Select Sector SPDR ETF
Expense ratio
0.53% · 0.08%
Category
SCHHAvsXLREA
Schwab U.S. REIT ETF · State Street Real Estate Select Sector SPDR ETF
Expense ratio
0.07% · 0.08%
Category

PPTY vs SCHH

In short

Stated mandate

Why people hold it